Can I retire at age 61 with 2,070,000?

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$170,939$169,416$167,930$166,481$165,065$163,750
2 years$84,623$83,047$81,520$80,039$78,602$77,277
3 years$55,855$54,272$52,749$51,282$49,868$48,574
4 years$41,474$39,896$38,387$36,945$35,567$34,312
5 years$32,847$31,279$29,790$28,378$27,037$25,827
6 years$27,098$25,541$24,075$22,694$21,394$20,229
7 years$22,993$21,450$20,006$18,658$17,399$16,281
8 years$19,916$18,386$16,967$15,652$14,434$13,362
9 years$17,524$16,009$14,614$13,332$12,155$11,129
10 years$15,611$14,111$12,741$11,492$10,357$9,376
11 years$14,047$12,562$11,217$10,002$8,907$7,971
12 years$12,745$11,275$9,954$8,773$7,719$6,827
13 years$11,644$10,189$8,894$7,745$6,731$5,882
14 years$10,701$9,262$7,991$6,875$5,900$5,093
15 years$9,885$8,461$7,215$6,131$5,195$4,428
16 years$9,171$7,763$6,541$5,490$4,592$3,864
17 years$8,542$7,149$5,952$4,933$4,071$3,382
18 years$7,983$6,606$5,434$4,445$3,620$2,967
19 years$7,484$6,122$4,974$4,017$3,226$2,609
20 years$7,035$5,689$4,565$3,638$2,882$2,299
21 years$6,630$5,299$4,199$3,302$2,579$2,029
22 years$6,262$4,947$3,870$3,002$2,312$1,794
23 years$5,926$4,627$3,573$2,734$2,075$1,587
24 years$5,619$4,335$3,305$2,494$1,865$1,406
25 years$5,337$4,068$3,061$2,277$1,678$1,247
26 years$5,077$3,823$2,839$2,082$1,512$1,107
27 years$4,836$3,598$2,636$1,906$1,363$983
28 years$4,614$3,391$2,451$1,746$1,230$874
29 years$4,407$3,199$2,280$1,601$1,111$777
30 years$4,214$3,021$2,124$1,470$1,003$692
31 years$4,034$2,856$1,980$1,350$907$616
32 years$3,865$2,702$1,848$1,240$821$549
33 years$3,707$2,559$1,725$1,141$743$489
34 years$3,559$2,425$1,612$1,050$672$436
35 years$3,419$2,300$1,507$966$609$388
36 years$3,288$2,183$1,410$890$552$346
37 years$3,164$2,074$1,320$820$500$309
38 years$3,046$1,971$1,236$756$453$276
39 years$2,935$1,874$1,158$697$411$246
40 years$2,830$1,783$1,085$643$373$219
41 years$2,730$1,697$1,017$593$338$196
42 years$2,635$1,616$954$547$307$175
43 years$2,545$1,540$896$505$279$156
44 years$2,459$1,468$841$466$253$139
45 years$2,378$1,400$789$431$230$124
46 years$2,300$1,335$741$398$208$111
47 years$2,225$1,274$697$368$189$99
48 years$2,154$1,217$655$340$172$89
49 years$2,086$1,162$615$314$156$79
50 years$2,021$1,110$578$290$142$71

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,070,000, adding $6,076 every year, while hoping to spend $38,256 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: 76/5/19 Blend
60$2,070,000$2,070,000$2,070,000$2,070,000
61$2,287,407$2,177,697$2,145,612$2,450,752
62$2,480,019$2,243,700$2,176,786$2,625,706
63$2,690,995$2,311,656$2,207,722$2,812,152
64$2,922,167$2,381,618$2,238,372$3,015,566
65$3,175,555$2,453,644$2,268,685$3,237,632
66$3,453,381$2,527,792$2,298,605$3,480,203
67$3,758,095$2,604,122$2,328,077$3,745,322
68$4,092,391$2,682,695$2,357,038$4,035,240
69$4,459,242$2,763,574$2,385,426$4,352,434
70$4,861,918$2,846,823$2,413,171$4,699,635
71$5,304,024$2,932,507$2,440,202$5,079,852
72$5,789,529$3,020,695$2,466,444$5,496,397
73$6,322,808$3,111,456$2,491,817$5,952,923
74$6,908,678$3,204,861$2,516,236$6,453,450
75$7,552,446$3,300,982$2,539,613$7,002,412
76$8,259,960$3,399,894$2,561,855$7,604,689
77$9,037,660$3,501,674$2,582,862$8,265,664
78$9,892,645$3,606,399$2,602,531$8,991,262
79$10,832,732$3,714,150$2,620,753$9,788,015
80$11,866,535$3,825,008$2,637,413$10,663,119
81$13,003,546$3,939,058$2,652,390$11,624,505
82$14,254,221$4,056,384$2,665,558$12,680,909
83$15,630,080$4,177,076$2,676,783$13,841,959
84$17,143,817$4,301,222$2,685,924$15,118,263
85$18,809,419$4,428,914$2,692,835$16,521,512
86$20,642,296$4,560,247$2,697,361$18,064,586
87$22,659,427$4,695,316$2,699,340$19,761,679
88$24,879,522$4,834,219$2,698,601$21,628,434
89$27,323,194$4,977,057$2,694,965$23,682,084
90$30,013,159$5,123,932$2,688,245$25,941,623
91$32,974,444$5,274,948$2,678,245$28,427,980
92$36,234,629$5,430,212$2,664,758$31,164,217
93$39,824,102$5,589,833$2,647,568$34,175,750
94$43,776,348$5,753,922$2,626,448$37,490,583
95$48,128,263$5,922,592$2,601,162$41,139,579
96$52,920,506$6,095,959$2,571,461$45,156,747
97$58,197,877$6,274,141$2,537,084$49,579,564
98$64,009,743$6,457,257$2,497,760$54,449,329
99$70,410,504$6,645,429$2,453,202$59,811,552
100$77,460,103$6,838,783$2,403,112$65,716,387