Can I retire at age 61 with 2,050,000?

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 $2,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$169,287$167,779$166,308$164,872$163,470$157,482
2 years$83,805$82,245$80,732$79,265$77,843$71,877
3 years$55,315$53,748$52,239$50,786$49,387$43,630
4 years$41,073$39,510$38,017$36,589$35,223$29,720
5 years$32,530$30,977$29,502$28,104$26,776$21,540
6 years$26,836$25,295$23,842$22,475$21,187$16,223
7 years$22,771$21,242$19,813$18,478$17,231$12,537
8 years$19,724$18,209$16,803$15,500$14,294$9,867
9 years$17,355$15,854$14,472$13,203$12,038$7,870
10 years$15,460$13,974$12,617$11,381$10,257$6,342
11 years$13,912$12,441$11,108$9,905$8,821$5,151
12 years$12,622$11,166$9,858$8,688$7,644$4,209
13 years$11,532$10,091$8,808$7,670$6,666$3,457
14 years$10,598$9,172$7,914$6,809$5,843$2,850
15 years$9,789$8,379$7,145$6,072$5,145$2,357
16 years$9,082$7,688$6,478$5,437$4,547$1,954
17 years$8,459$7,080$5,895$4,885$4,032$1,624
18 years$7,906$6,542$5,381$4,402$3,585$1,352
19 years$7,412$6,063$4,926$3,978$3,195$1,127
20 years$6,967$5,634$4,521$3,603$2,854$941
21 years$6,566$5,248$4,158$3,270$2,554$786
22 years$6,201$4,899$3,833$2,973$2,289$657
23 years$5,869$4,582$3,539$2,708$2,055$550
24 years$5,565$4,293$3,273$2,469$1,847$460
25 years$5,285$4,029$3,031$2,255$1,662$385
26 years$5,028$3,786$2,811$2,062$1,497$323
27 years$4,790$3,563$2,611$1,887$1,350$271
28 years$4,569$3,358$2,427$1,729$1,218$227
29 years$4,364$3,168$2,258$1,586$1,100$190
30 years$4,173$2,992$2,104$1,455$994$160
31 years$3,995$2,828$1,961$1,337$898$134
32 years$3,828$2,676$1,830$1,228$813$112
33 years$3,671$2,534$1,708$1,130$736$94
34 years$3,524$2,402$1,596$1,039$666$79
35 years$3,386$2,278$1,492$957$603$66
36 years$3,256$2,162$1,396$881$546$56
37 years$3,133$2,054$1,307$812$495$47
38 years$3,017$1,952$1,224$748$449$39
39 years$2,907$1,856$1,146$690$407$33
40 years$2,803$1,766$1,075$636$369$28
41 years$2,704$1,681$1,008$587$335$23
42 years$2,610$1,601$945$542$304$20
43 years$2,521$1,525$887$500$276$16
44 years$2,436$1,454$833$462$250$14
45 years$2,355$1,386$782$427$227$12
46 years$2,277$1,322$734$394$206$10
47 years$2,204$1,262$690$364$187$8
48 years$2,133$1,205$648$336$170$7
49 years$2,066$1,150$609$311$155$6
50 years$2,002$1,099$573$287$140$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,050,000, adding $4,944 every year, while hoping to spend $28,259 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: 53/26/21 Blend
60$2,050,000$2,050,000$2,050,000$2,050,000
61$2,264,200$2,155,550$2,123,775$2,370,890
62$2,465,081$2,231,104$2,164,854$2,520,336
63$2,685,505$2,309,414$2,206,362$2,679,513
64$2,927,435$2,390,584$2,248,284$2,852,124
65$3,193,034$2,474,723$2,290,602$3,039,457
66$3,484,684$2,561,946$2,333,299$3,242,931
67$3,805,011$2,652,371$2,376,353$3,464,107
68$4,156,906$2,746,120$2,419,744$3,704,702
69$4,543,552$2,843,322$2,463,448$3,966,608
70$4,968,460$2,944,110$2,507,439$4,251,903
71$5,435,495$3,048,624$2,551,690$4,562,878
72$5,948,915$3,157,006$2,596,171$4,902,052
73$6,513,413$3,269,407$2,640,851$5,272,202
74$7,134,157$3,385,984$2,685,695$5,676,380
75$7,816,843$3,506,899$2,730,668$6,117,950
76$8,567,745$3,632,321$2,775,730$6,600,614
77$9,393,777$3,762,427$2,820,839$7,128,450
78$10,302,556$3,897,400$2,865,951$7,705,946
79$11,302,476$4,037,432$2,911,019$8,338,047
80$12,402,782$4,182,719$2,955,992$9,030,197
81$13,613,664$4,333,471$3,000,816$9,788,392
82$14,946,349$4,489,903$3,045,435$10,619,235
83$16,413,207$4,652,238$3,089,787$11,529,999
84$18,027,868$4,820,711$3,133,808$12,528,695
85$19,805,350$4,995,566$3,177,431$13,624,147
86$21,762,202$5,177,055$3,220,581$14,826,074
87$23,916,660$5,365,444$3,263,184$16,145,181
88$26,288,816$5,561,007$3,305,157$17,593,262
89$28,900,810$5,764,032$3,346,415$19,183,307
90$31,777,040$5,974,817$3,386,867$20,929,629
91$34,944,388$6,193,673$3,426,417$22,847,991
92$38,432,478$6,420,924$3,464,964$24,955,763
93$42,273,951$6,656,910$3,502,401$27,272,079
94$46,504,777$6,901,982$3,538,614$29,818,019
95$51,164,592$7,156,507$3,573,486$32,616,807
96$56,297,073$7,420,868$3,606,890$35,694,030
97$61,950,348$7,695,465$3,638,695$39,077,879
98$68,177,453$7,980,712$3,668,760$42,799,412
99$75,036,830$8,277,043$3,696,940$46,892,851
100$82,592,879$8,584,911$3,723,081$51,395,899