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

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 $2,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$171,764$170,234$168,742$167,285$165,862$164,955
2 years$85,032$83,448$81,913$80,425$78,982$78,067
3 years$56,125$54,534$53,003$51,529$50,109$49,214
4 years$41,674$40,089$38,573$37,124$35,738$34,870
5 years$33,006$31,430$29,934$28,515$27,168$26,329
6 years$27,229$25,665$24,191$22,803$21,497$20,689
7 years$23,104$21,553$20,103$18,748$17,483$16,706
8 years$20,012$18,475$17,049$15,727$14,504$13,758
9 years$17,609$16,086$14,684$13,396$12,214$11,499
10 years$15,687$14,179$12,802$11,548$10,407$9,723
11 years$14,115$12,623$11,271$10,050$8,950$8,296
12 years$12,807$11,329$10,003$8,815$7,756$7,132
13 years$11,700$10,239$8,937$7,782$6,764$6,168
14 years$10,753$9,307$8,030$6,908$5,929$5,362
15 years$9,932$8,502$7,250$6,161$5,220$4,681
16 years$9,215$7,800$6,573$5,517$4,614$4,101
17 years$8,583$7,184$5,981$4,957$4,091$3,604
18 years$8,022$6,638$5,460$4,467$3,637$3,176
19 years$7,520$6,152$4,998$4,036$3,242$2,805
20 years$7,069$5,717$4,587$3,656$2,896$2,482
21 years$6,662$5,325$4,219$3,318$2,591$2,200
22 years$6,292$4,971$3,889$3,016$2,323$1,954
23 years$5,955$4,649$3,591$2,747$2,085$1,737
24 years$5,646$4,356$3,321$2,506$1,874$1,546
25 years$5,363$4,088$3,076$2,288$1,686$1,377
26 years$5,101$3,842$2,852$2,092$1,519$1,228
27 years$4,860$3,616$2,649$1,915$1,370$1,096
28 years$4,636$3,407$2,462$1,755$1,236$979
29 years$4,428$3,214$2,291$1,609$1,116$875
30 years$4,234$3,035$2,134$1,477$1,008$782
31 years$4,053$2,869$1,990$1,356$912$700
32 years$3,884$2,715$1,857$1,246$825$627
33 years$3,725$2,571$1,733$1,146$746$561
34 years$3,576$2,437$1,620$1,055$676$503
35 years$3,436$2,311$1,514$971$612$450
36 years$3,304$2,194$1,417$894$554$404
37 years$3,179$2,084$1,326$824$503$362
38 years$3,061$1,980$1,242$759$456$324
39 years$2,949$1,883$1,163$700$413$291
40 years$2,844$1,791$1,090$646$375$261
41 years$2,743$1,705$1,022$596$340$234
42 years$2,648$1,624$959$550$309$210
43 years$2,558$1,547$900$508$280$189
44 years$2,471$1,475$845$469$254$169
45 years$2,389$1,407$793$433$231$152
46 years$2,311$1,342$745$400$209$136
47 years$2,236$1,280$700$369$190$122
48 years$2,165$1,222$658$341$173$110
49 years$2,096$1,167$618$315$157$99
50 years$2,031$1,115$581$292$143$89

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 $2,690 every year, while hoping to spend $32,971 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: 78/10/12 Blend
60$2,080,000$2,080,000$2,080,000$2,080,000
61$2,294,935$2,184,695$2,152,455$2,468,511
62$2,493,937$2,256,664$2,189,481$2,655,056
63$2,712,133$2,331,054$2,226,643$2,855,118
64$2,951,445$2,407,950$2,263,909$3,073,610
65$3,213,990$2,487,438$2,301,249$3,312,357
66$3,502,103$2,569,608$2,338,626$3,573,370
67$3,818,352$2,654,554$2,376,005$3,858,862
68$4,165,568$2,742,371$2,413,345$4,171,273
69$4,546,870$2,833,161$2,450,606$4,513,286
70$4,965,690$2,927,026$2,487,741$4,887,862
71$5,425,815$3,024,074$2,524,704$5,298,256
72$5,931,411$3,124,417$2,561,445$5,748,058
73$6,487,071$3,228,169$2,597,910$6,241,221
74$7,097,854$3,335,452$2,634,042$6,782,098
75$7,769,334$3,446,387$2,669,781$7,375,486
76$8,507,651$3,561,105$2,705,063$8,026,670
77$9,319,570$3,679,738$2,739,822$8,741,470
78$10,212,546$3,802,425$2,773,985$9,526,298
79$11,194,790$3,929,308$2,807,478$10,388,220
80$12,275,351$4,060,536$2,840,221$11,335,019
81$13,464,197$4,196,263$2,872,129$12,375,270
82$14,772,314$4,336,649$2,903,114$13,518,421
83$16,211,804$4,481,859$2,933,082$14,774,880
84$17,796,003$4,632,064$2,961,935$16,156,116
85$19,539,603$4,787,444$2,989,568$17,674,765
86$21,458,796$4,948,182$3,015,872$19,344,749
87$23,571,420$5,114,469$3,040,730$21,181,409
88$25,897,132$5,286,506$3,064,022$23,201,646
89$28,457,592$5,464,497$3,085,620$25,424,083
90$31,276,666$5,648,657$3,105,387$27,869,242
91$34,380,652$5,839,207$3,123,184$30,559,734
92$37,798,528$6,036,378$3,138,860$33,520,471
93$41,562,226$6,240,408$3,152,260$36,778,907
94$45,706,931$6,451,546$3,163,218$40,365,293
95$50,271,414$6,670,048$3,171,562$44,312,959
96$55,298,399$6,896,181$3,177,111$48,658,637
97$60,834,965$7,130,224$3,179,673$53,442,797
98$66,932,989$7,372,462$3,179,049$58,710,037
99$73,649,636$7,623,195$3,175,029$64,509,500
100$81,047,900$7,882,732$3,167,394$70,895,338