Can I retire at age 61 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$170,113$168,598$167,119$165,676$164,267$160,036
2 years$84,214$82,646$81,126$79,652$78,223$73,988
3 years$55,585$54,010$52,494$51,034$49,628$45,522
4 years$41,273$39,703$38,202$36,767$35,395$31,450
5 years$32,689$31,128$29,646$28,241$26,907$23,133
6 years$26,967$25,418$23,959$22,584$21,290$17,692
7 years$22,882$21,346$19,910$18,568$17,315$13,892
8 years$19,820$18,298$16,885$15,576$14,364$11,115
9 years$17,439$15,931$14,543$13,267$12,097$9,019
10 years$15,536$14,043$12,679$11,437$10,307$7,396
11 years$13,980$12,501$11,162$9,953$8,864$6,117
12 years$12,684$11,221$9,906$8,730$7,682$5,092
13 years$11,588$10,140$8,851$7,708$6,699$4,262
14 years$10,649$9,217$7,952$6,842$5,872$3,582
15 years$9,837$8,420$7,180$6,102$5,170$3,022
16 years$9,127$7,725$6,510$5,463$4,569$2,557
17 years$8,501$7,115$5,924$4,909$4,052$2,169
18 years$7,945$6,574$5,407$4,424$3,602$1,843
19 years$7,448$6,093$4,950$3,997$3,211$1,570
20 years$7,001$5,662$4,543$3,620$2,868$1,338
21 years$6,598$5,274$4,179$3,286$2,567$1,142
22 years$6,231$4,923$3,851$2,987$2,301$976
23 years$5,897$4,604$3,556$2,721$2,065$835
24 years$5,592$4,314$3,289$2,481$1,856$715
25 years$5,311$4,048$3,046$2,266$1,670$612
26 years$5,052$3,805$2,825$2,072$1,505$525
27 years$4,813$3,581$2,623$1,897$1,356$450
28 years$4,591$3,374$2,439$1,738$1,224$386
29 years$4,385$3,183$2,269$1,594$1,105$331
30 years$4,193$3,006$2,114$1,462$999$284
31 years$4,014$2,842$1,971$1,343$903$244
32 years$3,846$2,689$1,839$1,234$817$210
33 years$3,689$2,546$1,717$1,135$739$180
34 years$3,542$2,413$1,604$1,044$669$155
35 years$3,403$2,289$1,500$961$606$133
36 years$3,272$2,173$1,403$885$549$114
37 years$3,148$2,064$1,313$816$498$98
38 years$3,032$1,961$1,230$752$451$84
39 years$2,921$1,865$1,152$693$409$72
40 years$2,816$1,774$1,080$640$371$62
41 years$2,717$1,689$1,013$590$337$54
42 years$2,623$1,608$950$545$306$46
43 years$2,533$1,533$891$503$277$40
44 years$2,448$1,461$837$464$252$34
45 years$2,366$1,393$786$429$228$29
46 years$2,289$1,329$738$396$207$25
47 years$2,215$1,268$693$366$188$22
48 years$2,144$1,211$651$338$171$19
49 years$2,076$1,156$612$312$155$16
50 years$2,011$1,104$576$289$141$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,060,000, adding $4,089 every year, while hoping to spend $31,890 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: 80/12/8 Blend
60$2,060,000$2,060,000$2,060,000$2,060,000
61$2,274,338$2,165,158$2,133,228$2,453,601
62$2,472,390$2,237,320$2,170,760$2,643,830
63$2,689,574$2,311,949$2,208,481$2,847,909
64$2,927,808$2,389,132$2,246,363$3,070,884
65$3,189,205$2,468,961$2,284,377$3,314,626
66$3,476,092$2,551,528$2,322,492$3,581,196
67$3,791,031$2,636,930$2,360,673$3,872,863
68$4,136,846$2,725,269$2,398,885$4,192,125
69$4,516,647$2,816,650$2,437,090$4,541,735
70$4,933,859$2,911,180$2,475,247$4,924,723
71$5,392,257$3,008,972$2,513,312$5,344,428
72$5,895,999$3,110,143$2,551,239$5,804,525
73$6,449,665$3,214,814$2,588,980$6,309,065
74$7,058,301$3,323,111$2,626,481$6,862,507
75$7,727,468$3,435,163$2,663,688$7,469,766
76$8,463,290$3,551,107$2,700,542$8,136,253
77$9,272,516$3,671,081$2,736,981$8,867,931
78$10,162,581$3,795,233$2,772,938$9,671,367
79$11,141,677$3,923,712$2,808,345$10,553,797
80$12,218,830$4,056,676$2,843,126$11,523,191
81$13,403,985$4,194,288$2,877,205$12,588,333
82$14,708,099$4,336,715$2,910,499$13,758,895
83$16,143,246$4,484,134$2,942,921$15,045,537
84$17,722,727$4,636,727$2,974,379$16,460,001
85$19,461,200$4,794,682$3,004,776$18,015,227
86$21,374,817$4,958,196$3,034,011$19,725,468
87$23,481,373$5,127,472$3,061,974$21,606,431
88$25,800,477$5,302,722$3,088,554$23,675,420
89$28,353,735$5,484,165$3,113,630$25,951,502
90$31,164,956$5,672,029$3,137,077$28,455,684
91$34,260,375$5,866,552$3,158,763$31,211,115
92$37,668,899$6,067,979$3,178,547$34,243,298
93$41,422,383$6,276,566$3,196,285$37,580,337
94$45,555,927$6,492,578$3,211,821$41,253,197
95$50,108,208$6,716,292$3,224,994$45,295,999
96$55,121,848$6,947,993$3,235,634$49,746,338
97$60,643,812$7,187,979$3,243,562$54,645,643
98$66,725,850$7,436,560$3,248,592$60,039,561
99$73,424,993$7,694,057$3,250,525$65,978,393
100$80,804,081$7,960,804$3,249,156$72,517,565