Can I retire at age 61 with 2,080,000?

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 $2,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$171,764$170,234$168,742$167,285$165,862$161,721
2 years$85,032$83,448$81,913$80,425$78,982$74,836
3 years$56,125$54,534$53,003$51,529$50,109$46,089
4 years$41,674$40,089$38,573$37,124$35,738$31,873
5 years$33,006$31,430$29,934$28,515$27,168$23,469
6 years$27,229$25,665$24,191$22,803$21,497$17,969
7 years$23,104$21,553$20,103$18,748$17,483$14,125
8 years$20,012$18,475$17,049$15,727$14,504$11,315
9 years$17,609$16,086$14,684$13,396$12,214$9,192
10 years$15,687$14,179$12,802$11,548$10,407$7,548
11 years$14,115$12,623$11,271$10,050$8,950$6,250
12 years$12,807$11,329$10,003$8,815$7,756$5,210
13 years$11,700$10,239$8,937$7,782$6,764$4,366
14 years$10,753$9,307$8,030$6,908$5,929$3,675
15 years$9,932$8,502$7,250$6,161$5,220$3,105
16 years$9,215$7,800$6,573$5,517$4,614$2,631
17 years$8,583$7,184$5,981$4,957$4,091$2,235
18 years$8,022$6,638$5,460$4,467$3,637$1,902
19 years$7,520$6,152$4,998$4,036$3,242$1,622
20 years$7,069$5,717$4,587$3,656$2,896$1,385
21 years$6,662$5,325$4,219$3,318$2,591$1,184
22 years$6,292$4,971$3,889$3,016$2,323$1,014
23 years$5,955$4,649$3,591$2,747$2,085$868
24 years$5,646$4,356$3,321$2,506$1,874$744
25 years$5,363$4,088$3,076$2,288$1,686$639
26 years$5,101$3,842$2,852$2,092$1,519$548
27 years$4,860$3,616$2,649$1,915$1,370$471
28 years$4,636$3,407$2,462$1,755$1,236$405
29 years$4,428$3,214$2,291$1,609$1,116$348
30 years$4,234$3,035$2,134$1,477$1,008$299
31 years$4,053$2,869$1,990$1,356$912$257
32 years$3,884$2,715$1,857$1,246$825$221
33 years$3,725$2,571$1,733$1,146$746$190
34 years$3,576$2,437$1,620$1,055$676$164
35 years$3,436$2,311$1,514$971$612$141
36 years$3,304$2,194$1,417$894$554$121
37 years$3,179$2,084$1,326$824$503$104
38 years$3,061$1,980$1,242$759$456$90
39 years$2,949$1,883$1,163$700$413$77
40 years$2,844$1,791$1,090$646$375$67
41 years$2,743$1,705$1,022$596$340$57
42 years$2,648$1,624$959$550$309$49
43 years$2,558$1,547$900$508$280$43
44 years$2,471$1,475$845$469$254$37
45 years$2,389$1,407$793$433$231$32
46 years$2,311$1,342$745$400$209$27
47 years$2,236$1,280$700$369$190$23
48 years$2,165$1,222$658$341$173$20
49 years$2,096$1,167$618$315$157$17
50 years$2,031$1,115$581$292$143$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,080,000, adding $2,353 every year, while hoping to spend $52,136 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: 70/14/16 Blend
60$2,080,000$2,080,000$2,080,000$2,080,000
61$2,294,587$2,184,347$2,152,107$2,446,507
62$2,473,163$2,235,908$2,168,730$2,599,423
63$2,668,206$2,288,248$2,184,163$2,760,264
64$2,881,341$2,341,350$2,198,311$2,934,965
65$3,114,356$2,395,195$2,211,073$3,124,886
66$3,369,221$2,449,760$2,222,345$3,331,527
67$3,648,105$2,505,021$2,232,016$3,556,538
68$3,953,393$2,560,949$2,239,971$3,801,738
69$4,287,717$2,617,513$2,246,087$4,069,129
70$4,653,971$2,674,678$2,250,238$4,360,920
71$5,055,343$2,732,404$2,252,288$4,679,543
72$5,495,345$2,790,649$2,252,096$5,027,676
73$5,977,844$2,849,365$2,249,516$5,408,271
74$6,507,101$2,908,501$2,244,391$5,824,583
75$7,087,806$2,967,998$2,236,559$6,280,194
76$7,725,129$3,027,796$2,225,850$6,779,054
77$8,424,761$3,087,827$2,212,085$7,325,515
78$9,192,973$3,148,017$2,195,076$7,924,374
79$10,036,672$3,208,286$2,174,627$8,580,913
80$10,963,468$3,268,548$2,150,533$9,300,957
81$11,981,744$3,328,708$2,122,578$10,090,923
82$13,100,734$3,388,667$2,090,536$10,957,882
83$14,330,611$3,448,315$2,054,172$11,909,628
84$15,682,585$3,507,533$2,013,238$12,954,749
85$17,169,003$3,566,197$1,967,476$14,102,709
86$18,803,470$3,624,169$1,916,615$15,363,938
87$20,600,973$3,681,303$1,860,371$16,749,930
88$22,578,028$3,737,443$1,798,449$18,273,353
89$24,752,829$3,792,419$1,730,539$19,948,166
90$27,145,423$3,846,053$1,656,318$21,789,754
91$29,777,897$3,898,151$1,575,445$23,815,070
92$32,674,588$3,948,506$1,487,568$26,042,801
93$35,862,312$3,996,897$1,392,317$28,493,537
94$39,370,612$4,043,090$1,289,304$31,189,972
95$43,232,045$4,086,832$1,178,127$34,157,115
96$47,482,482$4,127,855$1,058,362$37,422,529
97$52,161,448$4,165,872$929,570$41,016,589
98$57,312,494$4,200,579$791,289$44,972,769
99$62,983,610$4,231,649$643,039$49,327,963
100$69,227,675$4,258,736$484,317$54,122,827