Can I retire at age 61 with 2,020,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$166,810$165,324$163,874$162,459$161,078$158,933
2 years$82,579$81,041$79,551$78,105$76,704$74,546
3 years$54,506$52,961$51,474$50,043$48,664$46,561
4 years$40,472$38,932$37,460$36,053$34,708$32,675
5 years$32,054$30,523$29,071$27,692$26,384$24,429
6 years$26,444$24,925$23,493$22,146$20,877$19,000
7 years$22,438$20,932$19,523$18,207$16,978$15,181
8 years$19,435$17,942$16,557$15,274$14,085$12,367
9 years$17,101$15,622$14,261$13,010$11,862$10,223
10 years$15,234$13,770$12,433$11,214$10,107$8,545
11 years$13,708$12,259$10,946$9,760$8,692$7,206
12 years$12,437$11,003$9,714$8,561$7,533$6,121
13 years$11,363$9,943$8,679$7,558$6,569$5,229
14 years$10,443$9,038$7,798$6,709$5,758$4,489
15 years$9,646$8,256$7,040$5,983$5,070$3,869
16 years$8,949$7,575$6,383$5,357$4,481$3,346
17 years$8,335$6,976$5,808$4,814$3,973$2,902
18 years$7,790$6,447$5,302$4,338$3,532$2,523
19 years$7,303$5,975$4,854$3,920$3,149$2,198
20 years$6,865$5,552$4,455$3,550$2,812$1,918
21 years$6,470$5,171$4,098$3,222$2,517$1,676
22 years$6,110$4,827$3,777$2,929$2,256$1,467
23 years$5,783$4,515$3,487$2,668$2,025$1,286
24 years$5,483$4,230$3,225$2,433$1,820$1,128
25 years$5,208$3,970$2,987$2,222$1,638$990
26 years$4,954$3,731$2,770$2,032$1,475$870
27 years$4,720$3,511$2,572$1,860$1,330$765
28 years$4,502$3,309$2,391$1,704$1,200$673
29 years$4,300$3,121$2,225$1,563$1,084$592
30 years$4,112$2,948$2,073$1,434$979$521
31 years$3,936$2,787$1,932$1,317$885$459
32 years$3,772$2,637$1,803$1,210$801$405
33 years$3,618$2,497$1,683$1,113$725$357
34 years$3,473$2,367$1,573$1,024$656$314
35 years$3,337$2,245$1,471$943$594$277
36 years$3,208$2,131$1,376$868$538$245
37 years$3,087$2,023$1,288$800$488$216
38 years$2,973$1,923$1,206$737$442$190
39 years$2,864$1,829$1,130$680$401$168
40 years$2,762$1,740$1,059$627$364$148
41 years$2,664$1,656$993$579$330$131
42 years$2,572$1,577$931$534$300$116
43 years$2,484$1,503$874$493$272$102
44 years$2,400$1,432$820$455$247$90
45 years$2,320$1,366$770$420$224$79
46 years$2,244$1,303$723$388$203$70
47 years$2,172$1,244$680$359$185$62
48 years$2,102$1,187$639$331$168$55
49 years$2,036$1,134$600$306$152$48
50 years$1,972$1,083$564$283$138$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,020,000, adding $6,945 every year, while hoping to spend $36,235 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 70/15/15 Blend
60$2,020,000$2,020,000$2,020,000$2,020,000
61$2,233,204$2,126,144$2,094,834$2,381,394
62$2,422,437$2,191,771$2,126,457$2,546,427
63$2,629,757$2,259,400$2,157,925$2,721,975
64$2,856,971$2,329,089$2,189,195$2,913,166
65$3,106,070$2,400,902$2,220,220$3,121,538
66$3,379,243$2,474,900$2,250,951$3,348,783
67$3,678,905$2,551,149$2,281,337$3,596,766
68$4,007,714$2,629,717$2,311,323$3,867,540
69$4,368,599$2,710,671$2,340,851$4,163,365
70$4,764,786$2,794,083$2,369,858$4,486,731
71$5,199,827$2,880,026$2,398,282$4,840,382
72$5,677,636$2,968,575$2,426,051$5,227,337
73$6,202,527$3,059,807$2,453,096$5,650,924
74$6,779,248$3,153,800$2,479,338$6,114,807
75$7,413,032$3,250,638$2,504,697$6,623,025
76$8,109,645$3,350,403$2,529,088$7,180,024
77$8,875,438$3,453,181$2,552,421$7,790,703
78$9,717,407$3,559,062$2,574,602$8,460,459
79$10,643,263$3,668,137$2,595,532$9,195,239
80$11,661,499$3,780,498$2,615,105$10,001,593
81$12,781,472$3,896,243$2,633,211$10,886,738
82$14,013,494$4,015,470$2,649,735$11,858,624
83$15,368,923$4,138,281$2,664,554$12,926,013
84$16,860,277$4,264,781$2,677,540$14,098,557
85$18,501,346$4,395,076$2,688,559$15,386,889
86$20,307,326$4,529,277$2,697,468$16,802,727
87$22,294,959$4,667,498$2,704,119$18,358,982
88$24,482,694$4,809,854$2,708,357$20,069,878
89$26,890,858$4,956,466$2,710,016$21,951,090
90$29,541,849$5,107,456$2,708,924$24,019,889
91$32,460,347$5,262,951$2,704,903$26,295,304
92$35,673,546$5,423,079$2,697,761$28,798,305
93$39,211,413$5,587,975$2,687,300$31,551,998
94$43,106,965$5,757,774$2,673,313$34,581,843
95$47,396,588$5,932,617$2,655,581$37,915,894
96$52,120,372$6,112,647$2,633,876$41,585,068
97$57,322,496$6,298,014$2,607,957$45,623,428
98$63,051,641$6,488,867$2,577,574$50,068,512
99$69,361,450$6,685,363$2,542,464$54,961,685
100$76,311,033$6,887,661$2,502,352$60,348,527