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%11.2%
1 years$171,764$170,234$168,742$167,285$165,862$165,024
2 years$85,032$83,448$81,913$80,425$78,982$78,137
3 years$56,125$54,534$53,003$51,529$50,109$49,282
4 years$41,674$40,089$38,573$37,124$35,738$34,936
5 years$33,006$31,430$29,934$28,515$27,168$26,393
6 years$27,229$25,665$24,191$22,803$21,497$20,750
7 years$23,104$21,553$20,103$18,748$17,483$16,765
8 years$20,012$18,475$17,049$15,727$14,504$13,814
9 years$17,609$16,086$14,684$13,396$12,214$11,553
10 years$15,687$14,179$12,802$11,548$10,407$9,774
11 years$14,115$12,623$11,271$10,050$8,950$8,345
12 years$12,807$11,329$10,003$8,815$7,756$7,178
13 years$11,700$10,239$8,937$7,782$6,764$6,212
14 years$10,753$9,307$8,030$6,908$5,929$5,404
15 years$9,932$8,502$7,250$6,161$5,220$4,720
16 years$9,215$7,800$6,573$5,517$4,614$4,138
17 years$8,583$7,184$5,981$4,957$4,091$3,640
18 years$8,022$6,638$5,460$4,467$3,637$3,209
19 years$7,520$6,152$4,998$4,036$3,242$2,836
20 years$7,069$5,717$4,587$3,656$2,896$2,512
21 years$6,662$5,325$4,219$3,318$2,591$2,228
22 years$6,292$4,971$3,889$3,016$2,323$1,980
23 years$5,955$4,649$3,591$2,747$2,085$1,762
24 years$5,646$4,356$3,321$2,506$1,874$1,569
25 years$5,363$4,088$3,076$2,288$1,686$1,399
26 years$5,101$3,842$2,852$2,092$1,519$1,249
27 years$4,860$3,616$2,649$1,915$1,370$1,115
28 years$4,636$3,407$2,462$1,755$1,236$997
29 years$4,428$3,214$2,291$1,609$1,116$892
30 years$4,234$3,035$2,134$1,477$1,008$798
31 years$4,053$2,869$1,990$1,356$912$714
32 years$3,884$2,715$1,857$1,246$825$640
33 years$3,725$2,571$1,733$1,146$746$574
34 years$3,576$2,437$1,620$1,055$676$514
35 years$3,436$2,311$1,514$971$612$461
36 years$3,304$2,194$1,417$894$554$414
37 years$3,179$2,084$1,326$824$503$371
38 years$3,061$1,980$1,242$759$456$333
39 years$2,949$1,883$1,163$700$413$299
40 years$2,844$1,791$1,090$646$375$268
41 years$2,743$1,705$1,022$596$340$241
42 years$2,648$1,624$959$550$309$216
43 years$2,558$1,547$900$508$280$194
44 years$2,471$1,475$845$469$254$175
45 years$2,389$1,407$793$433$231$157
46 years$2,311$1,342$745$400$209$141
47 years$2,236$1,280$700$369$190$127
48 years$2,165$1,222$658$341$173$114
49 years$2,096$1,167$618$315$157$102
50 years$2,031$1,115$581$292$143$92

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 $2,517 every year, while hoping to spend $58,421 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: 69/20/11 Blend
60$2,080,000$2,080,000$2,080,000$2,080,000
61$2,294,756$2,184,516$2,152,276$2,447,662
62$2,466,662$2,229,398$2,162,218$2,594,353
63$2,654,144$2,274,521$2,170,535$2,747,487
64$2,858,729$2,319,835$2,177,111$2,913,474
65$3,082,099$2,365,287$2,181,823$3,093,566
66$3,326,104$2,410,816$2,184,545$3,289,144
67$3,592,780$2,456,360$2,185,141$3,501,728
68$3,884,371$2,501,849$2,183,471$3,732,993
69$4,203,346$2,547,209$2,179,386$3,984,785
70$4,552,424$2,592,358$2,172,731$4,259,137
71$4,934,598$2,637,211$2,163,345$4,558,287
72$5,353,165$2,681,672$2,151,055$4,884,705
73$5,811,756$2,725,642$2,135,683$5,241,110
74$6,314,369$2,769,013$2,117,043$5,630,498
75$6,865,408$2,811,668$2,094,937$6,056,172
76$7,469,723$2,853,483$2,069,161$6,521,768
77$8,132,655$2,894,324$2,039,498$7,031,298
78$8,860,088$2,934,048$2,005,724$7,589,180
79$9,658,504$2,972,503$1,967,602$8,200,283
80$10,535,040$3,009,524$1,924,885$8,869,973
81$11,497,561$3,044,938$1,877,316$9,604,164
82$12,554,730$3,078,558$1,824,624$10,409,373
83$13,716,089$3,110,184$1,766,525$11,292,782
84$14,992,151$3,139,604$1,702,725$12,262,309
85$16,394,498$3,166,592$1,632,914$13,326,676
86$17,935,888$3,190,906$1,556,768$14,495,498
87$19,630,378$3,212,290$1,473,949$15,779,371
88$21,493,455$3,230,471$1,384,105$17,189,974
89$23,542,180$3,245,156$1,286,865$18,740,178
90$25,795,352$3,256,038$1,181,844$20,444,167
91$28,273,680$3,262,787$1,068,638$22,317,576
92$30,999,986$3,265,053$946,827$24,377,635
93$33,999,409$3,262,466$815,971$26,643,334
94$37,299,653$3,254,630$675,610$29,135,602
95$40,931,239$3,241,129$525,265$31,877,506
96$44,927,798$3,221,517$364,434$34,894,468
97$49,326,386$3,195,323$192,594$38,214,506
98$54,167,832$3,162,049$9,201$41,868,501
99$59,497,125$3,121,164$0$45,890,486
100$65,363,838$3,072,107$0$50,339,860