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

Use the below retirement simulation to view the chances of a successful retirement.
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%15.5%
1 years$167,636$166,142$164,685$163,264$161,875$158,219
2 years$82,988$81,442$79,944$78,492$77,083$73,419
3 years$54,776$53,223$51,729$50,291$48,905$45,348
4 years$40,672$39,125$37,646$36,232$34,879$31,456
5 years$32,213$30,674$29,215$27,829$26,515$23,235
6 years$26,575$25,048$23,610$22,255$20,980$17,848
7 years$22,549$21,035$19,620$18,297$17,063$14,078
8 years$19,531$18,031$16,639$15,349$14,155$11,317
9 years$17,185$15,699$14,331$13,074$11,921$9,227
10 years$15,310$13,838$12,494$11,270$10,157$7,604
11 years$13,776$12,319$11,000$9,808$8,735$6,321
12 years$12,499$11,057$9,762$8,603$7,570$5,290
13 years$11,419$9,992$8,722$7,595$6,601$4,451
14 years$10,494$9,083$7,837$6,742$5,786$3,762
15 years$9,694$8,297$7,075$6,013$5,095$3,191
16 years$8,994$7,613$6,415$5,384$4,503$2,716
17 years$8,377$7,011$5,837$4,837$3,993$2,317
18 years$7,829$6,478$5,329$4,359$3,550$1,981
19 years$7,339$6,004$4,878$3,939$3,164$1,697
20 years$6,899$5,579$4,477$3,568$2,826$1,455
21 years$6,502$5,197$4,118$3,238$2,529$1,250
22 years$6,141$4,851$3,795$2,944$2,267$1,075
23 years$5,812$4,537$3,504$2,681$2,035$925
24 years$5,510$4,251$3,241$2,445$1,829$797
25 years$5,234$3,989$3,002$2,233$1,646$687
26 years$4,979$3,749$2,784$2,042$1,483$593
27 years$4,743$3,529$2,585$1,869$1,337$511
28 years$4,524$3,325$2,403$1,712$1,206$442
29 years$4,321$3,137$2,236$1,570$1,089$381
30 years$4,132$2,962$2,083$1,441$984$330
31 years$3,956$2,800$1,942$1,324$890$285
32 years$3,790$2,650$1,812$1,216$805$246
33 years$3,635$2,509$1,692$1,119$728$213
34 years$3,490$2,378$1,581$1,029$659$184
35 years$3,353$2,256$1,478$947$597$159
36 years$3,224$2,141$1,383$873$541$138
37 years$3,102$2,034$1,294$804$490$119
38 years$2,987$1,933$1,212$741$445$103
39 years$2,878$1,838$1,135$683$403$89
40 years$2,775$1,748$1,064$630$366$77
41 years$2,677$1,664$998$581$332$67
42 years$2,584$1,585$936$537$301$58
43 years$2,496$1,510$878$495$273$50
44 years$2,412$1,440$824$457$248$43
45 years$2,332$1,373$774$422$225$38
46 years$2,255$1,310$727$390$204$32
47 years$2,182$1,250$683$360$186$28
48 years$2,113$1,193$642$333$169$24
49 years$2,046$1,139$603$308$153$21
50 years$1,982$1,088$567$285$139$18

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 $6,849 every year, while hoping to spend $31,259 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: 33/48/19 Blend
60$2,030,000$2,030,000$2,030,000$2,030,000
61$2,244,125$2,136,535$2,105,070$2,304,799
62$2,439,766$2,207,966$2,142,330$2,421,792
63$2,654,315$2,281,849$2,179,791$2,544,440
64$2,889,668$2,358,272$2,217,427$2,675,967
65$3,147,911$2,437,325$2,255,208$2,817,175
66$3,431,346$2,519,101$2,293,105$2,968,940
67$3,742,505$2,603,699$2,331,086$3,132,226
68$4,084,179$2,691,219$2,369,116$3,308,092
69$4,459,442$2,781,765$2,407,158$3,497,702
70$4,871,680$2,875,446$2,445,172$3,702,334
71$5,324,623$2,972,375$2,483,117$3,923,394
72$5,822,382$3,072,668$2,520,949$4,162,425
73$6,369,483$3,176,448$2,558,619$4,421,127
74$6,970,915$3,283,838$2,596,077$4,701,366
75$7,632,173$3,394,971$2,633,271$5,005,197
76$8,359,311$3,509,981$2,670,142$5,334,878
77$9,159,001$3,629,010$2,706,631$5,692,894
78$10,038,590$3,752,203$2,742,675$6,081,979
79$11,006,177$3,879,711$2,778,205$6,505,141
80$12,070,682$4,011,692$2,813,150$6,965,689
81$13,241,936$4,148,310$2,847,435$7,467,266
82$14,530,770$4,289,733$2,880,980$8,013,880
83$15,949,116$4,436,138$2,913,701$8,609,942
84$17,510,124$4,587,707$2,945,508$9,260,310
85$19,228,282$4,744,630$2,976,308$9,970,329
86$21,119,555$4,907,105$3,006,002$10,745,885
87$23,201,531$5,075,335$3,034,486$11,593,457
88$25,493,595$5,249,534$3,061,648$12,520,180
89$28,017,102$5,429,921$3,087,374$13,533,909
90$30,795,587$5,616,728$3,111,542$14,643,293
91$33,854,981$5,810,191$3,134,022$15,857,857
92$37,223,857$6,010,559$3,154,680$17,188,092
93$40,933,703$6,218,088$3,173,374$18,645,549
94$45,019,212$6,433,047$3,189,954$20,242,951
95$49,518,617$6,655,711$3,204,262$21,994,310
96$54,474,046$6,886,371$3,216,135$23,915,060
97$59,931,921$7,125,326$3,225,398$26,022,199
98$65,943,398$7,372,887$3,231,869$28,334,453
99$72,564,845$7,629,379$3,235,358$30,872,446
100$79,858,379$7,895,139$3,235,663$33,658,898