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

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$170,113$168,598$167,119$165,676$164,267$163,232
2 years$84,214$82,646$81,126$79,652$78,223$77,178
3 years$55,585$54,010$52,494$51,034$49,628$48,607
4 years$41,273$39,703$38,202$36,767$35,395$34,405
5 years$32,689$31,128$29,646$28,241$26,907$25,951
6 years$26,967$25,418$23,959$22,584$21,290$20,370
7 years$22,882$21,346$19,910$18,568$17,315$16,430
8 years$19,820$18,298$16,885$15,576$14,364$13,515
9 years$17,439$15,931$14,543$13,267$12,097$11,284
10 years$15,536$14,043$12,679$11,437$10,307$9,529
11 years$13,980$12,501$11,162$9,953$8,864$8,121
12 years$12,684$11,221$9,906$8,730$7,682$6,972
13 years$11,588$10,140$8,851$7,708$6,699$6,022
14 years$10,649$9,217$7,952$6,842$5,872$5,228
15 years$9,837$8,420$7,180$6,102$5,170$4,558
16 years$9,127$7,725$6,510$5,463$4,569$3,988
17 years$8,501$7,115$5,924$4,909$4,052$3,500
18 years$7,945$6,574$5,407$4,424$3,602$3,080
19 years$7,448$6,093$4,950$3,997$3,211$2,716
20 years$7,001$5,662$4,543$3,620$2,868$2,400
21 years$6,598$5,274$4,179$3,286$2,567$2,125
22 years$6,231$4,923$3,851$2,987$2,301$1,884
23 years$5,897$4,604$3,556$2,721$2,065$1,672
24 years$5,592$4,314$3,289$2,481$1,856$1,486
25 years$5,311$4,048$3,046$2,266$1,670$1,322
26 years$5,052$3,805$2,825$2,072$1,505$1,177
27 years$4,813$3,581$2,623$1,897$1,356$1,049
28 years$4,591$3,374$2,439$1,738$1,224$935
29 years$4,385$3,183$2,269$1,594$1,105$834
30 years$4,193$3,006$2,114$1,462$999$745
31 years$4,014$2,842$1,971$1,343$903$665
32 years$3,846$2,689$1,839$1,234$817$595
33 years$3,689$2,546$1,717$1,135$739$532
34 years$3,542$2,413$1,604$1,044$669$475
35 years$3,403$2,289$1,500$961$606$425
36 years$3,272$2,173$1,403$885$549$380
37 years$3,148$2,064$1,313$816$498$341
38 years$3,032$1,961$1,230$752$451$305
39 years$2,921$1,865$1,152$693$409$273
40 years$2,816$1,774$1,080$640$371$244
41 years$2,717$1,689$1,013$590$337$219
42 years$2,623$1,608$950$545$306$196
43 years$2,533$1,533$891$503$277$176
44 years$2,448$1,461$837$464$252$157
45 years$2,366$1,393$786$429$228$141
46 years$2,289$1,329$738$396$207$126
47 years$2,215$1,268$693$366$188$113
48 years$2,144$1,211$651$338$171$102
49 years$2,076$1,156$612$312$155$91
50 years$2,011$1,104$576$289$141$82

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 $4,148 every year, while hoping to spend $46,420 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: 65/20/15 Blend
60$2,060,000$2,060,000$2,060,000$2,060,000
61$2,274,399$2,165,219$2,133,289$2,413,781
62$2,456,997$2,221,924$2,155,363$2,564,248
63$2,656,664$2,279,852$2,176,622$2,722,845
64$2,875,093$2,339,013$2,196,987$2,895,005
65$3,114,146$2,399,419$2,216,380$3,082,052
66$3,375,875$2,461,076$2,234,715$3,285,445
67$3,662,539$2,523,994$2,251,902$3,506,790
68$3,976,625$2,588,177$2,267,849$3,747,856
69$4,320,875$2,653,632$2,282,456$4,010,591
70$4,698,305$2,720,361$2,295,619$4,297,141
71$5,112,239$2,788,365$2,307,229$4,609,871
72$5,566,338$2,857,645$2,317,172$4,951,385
73$6,064,633$2,928,199$2,325,326$5,324,552
74$6,611,566$3,000,021$2,331,565$5,732,534
75$7,212,029$3,073,105$2,335,755$6,178,811
76$7,871,411$3,147,442$2,337,758$6,667,221
77$8,595,648$3,223,020$2,337,426$7,201,992
78$9,391,280$3,299,823$2,334,605$7,787,780
79$10,265,510$3,377,835$2,329,134$8,429,717
80$11,226,277$3,457,033$2,320,845$9,133,459
81$12,282,322$3,537,393$2,309,558$9,905,235
82$13,443,280$3,618,886$2,295,089$10,751,910
83$14,719,762$3,701,479$2,277,243$11,681,051
84$16,123,462$3,785,136$2,255,814$12,700,992
85$17,667,261$3,869,813$2,230,589$13,820,920
86$19,365,352$3,955,464$2,201,345$15,050,956
87$21,233,374$4,042,038$2,167,846$16,402,255
88$23,288,555$4,129,475$2,129,846$17,887,110
89$25,549,881$4,217,712$2,087,089$19,519,063
90$28,038,267$4,306,679$2,039,305$21,313,043
91$30,776,761$4,396,297$1,986,212$23,285,499
92$33,790,757$4,486,482$1,927,517$25,454,556
93$37,108,236$4,577,141$1,862,910$27,840,191
94$40,760,028$4,668,173$1,792,070$30,464,417
95$44,780,107$4,759,469$1,714,660$33,351,492
96$49,205,903$4,850,909$1,630,327$36,528,152
97$54,078,665$4,942,363$1,538,702$40,023,857
98$59,443,842$5,033,692$1,439,402$43,871,074
99$65,351,516$5,124,745$1,332,024$48,105,582
100$71,856,870$5,215,358$1,216,147$52,766,812