Can I retire at age 61 with 2,030,000?

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 $2,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$167,636$166,142$164,685$163,264$161,875$160,720
2 years$82,988$81,442$79,944$78,492$77,083$75,919
3 years$54,776$53,223$51,729$50,291$48,905$47,767
4 years$40,672$39,125$37,646$36,232$34,879$33,776
5 years$32,213$30,674$29,215$27,829$26,515$25,450
6 years$26,575$25,048$23,610$22,255$20,980$19,955
7 years$22,549$21,035$19,620$18,297$17,063$16,078
8 years$19,531$18,031$16,639$15,349$14,155$13,211
9 years$17,185$15,699$14,331$13,074$11,921$11,016
10 years$15,310$13,838$12,494$11,270$10,157$9,292
11 years$13,776$12,319$11,000$9,808$8,735$7,910
12 years$12,499$11,057$9,762$8,603$7,570$6,782
13 years$11,419$9,992$8,722$7,595$6,601$5,851
14 years$10,494$9,083$7,837$6,742$5,786$5,073
15 years$9,694$8,297$7,075$6,013$5,095$4,417
16 years$8,994$7,613$6,415$5,384$4,503$3,859
17 years$8,377$7,011$5,837$4,837$3,993$3,382
18 years$7,829$6,478$5,329$4,359$3,550$2,972
19 years$7,339$6,004$4,878$3,939$3,164$2,617
20 years$6,899$5,579$4,477$3,568$2,826$2,309
21 years$6,502$5,197$4,118$3,238$2,529$2,041
22 years$6,141$4,851$3,795$2,944$2,267$1,807
23 years$5,812$4,537$3,504$2,681$2,035$1,602
24 years$5,510$4,251$3,241$2,445$1,829$1,421
25 years$5,234$3,989$3,002$2,233$1,646$1,262
26 years$4,979$3,749$2,784$2,042$1,483$1,122
27 years$4,743$3,529$2,585$1,869$1,337$998
28 years$4,524$3,325$2,403$1,712$1,206$889
29 years$4,321$3,137$2,236$1,570$1,089$792
30 years$4,132$2,962$2,083$1,441$984$706
31 years$3,956$2,800$1,942$1,324$890$629
32 years$3,790$2,650$1,812$1,216$805$561
33 years$3,635$2,509$1,692$1,119$728$501
34 years$3,490$2,378$1,581$1,029$659$447
35 years$3,353$2,256$1,478$947$597$400
36 years$3,224$2,141$1,383$873$541$357
37 years$3,102$2,034$1,294$804$490$319
38 years$2,987$1,933$1,212$741$445$285
39 years$2,878$1,838$1,135$683$403$255
40 years$2,775$1,748$1,064$630$366$228
41 years$2,677$1,664$998$581$332$204
42 years$2,584$1,585$936$537$301$182
43 years$2,496$1,510$878$495$273$163
44 years$2,412$1,440$824$457$248$146
45 years$2,332$1,373$774$422$225$130
46 years$2,255$1,310$727$390$204$117
47 years$2,182$1,250$683$360$186$104
48 years$2,113$1,193$642$333$169$93
49 years$2,046$1,139$603$308$153$83
50 years$1,982$1,088$567$285$139$75

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,030,000, adding $3,637 every year, while hoping to spend $49,153 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: 66/27/7 Blend
60$2,030,000$2,030,000$2,030,000$2,030,000
61$2,240,812$2,133,222$2,101,757$2,385,720
62$2,417,076$2,185,451$2,119,867$2,534,670
63$2,609,672$2,238,592$2,136,937$2,691,172
64$2,820,213$2,292,638$2,152,879$2,860,904
65$3,050,477$2,347,580$2,167,603$3,045,151
66$3,302,420$2,403,405$2,181,011$3,245,326
67$3,578,196$2,460,101$2,193,004$3,462,983
68$3,880,177$2,517,651$2,203,475$3,699,837
69$4,210,976$2,576,037$2,212,313$3,957,774
70$4,573,470$2,635,237$2,219,399$4,238,873
71$4,970,826$2,695,226$2,224,612$4,545,421
72$5,406,536$2,755,978$2,227,821$4,879,941
73$5,884,441$2,817,459$2,228,892$5,245,208
74$6,408,775$2,879,636$2,227,681$5,644,281
75$6,984,202$2,942,469$2,224,040$6,080,531
76$7,615,856$3,005,916$2,217,811$6,557,670
77$8,309,396$3,069,929$2,208,830$7,079,787
78$9,071,054$3,134,455$2,196,925$7,651,388
79$9,907,695$3,199,436$2,181,916$8,277,437
80$10,826,882$3,264,811$2,163,613$8,963,403
81$11,836,948$3,330,510$2,141,817$9,715,314
82$12,947,070$3,396,459$2,116,322$10,539,808
83$14,167,361$3,462,576$2,086,909$11,444,203
84$15,508,963$3,528,773$2,053,351$12,436,560
85$16,984,149$3,594,954$2,015,410$13,525,762
86$18,606,441$3,661,016$1,972,835$14,721,597
87$20,390,740$3,726,848$1,925,367$16,034,852
88$22,353,460$3,792,328$1,872,731$17,477,412
89$24,512,687$3,857,326$1,814,642$19,062,374
90$26,888,350$3,921,704$1,750,802$20,804,172
91$29,502,405$3,985,311$1,680,896$22,718,710
92$32,379,043$4,047,984$1,604,600$24,823,513
93$35,544,922$4,109,551$1,521,570$27,137,898
94$39,029,411$4,169,827$1,431,450$29,683,146
95$42,864,875$4,228,612$1,333,867$32,482,713
96$47,086,970$4,285,692$1,228,430$35,562,447
97$51,734,991$4,340,841$1,114,732$38,950,832
98$56,852,232$4,393,814$992,348$42,679,258
99$62,486,401$4,444,352$860,832$46,782,317
100$68,690,064$4,492,176$719,720$51,298,133