Can I retire at age 61 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$175,068$173,508$171,987$170,502$169,052$164,565
2 years$86,667$85,053$83,489$81,972$80,501$76,011
3 years$57,204$55,583$54,023$52,520$51,073$46,722
4 years$42,476$40,859$39,315$37,838$36,426$32,246
5 years$33,641$32,034$30,510$29,063$27,690$23,694
6 years$27,753$26,158$24,656$23,242$21,910$18,101
7 years$23,549$21,968$20,490$19,109$17,819$14,197
8 years$20,397$18,830$17,377$16,030$14,783$11,346
9 years$17,947$16,395$14,967$13,654$12,449$9,195
10 years$15,988$14,452$13,048$11,770$10,607$7,531
11 years$14,387$12,865$11,488$10,243$9,123$6,220
12 years$13,053$11,547$10,195$8,985$7,905$5,172
13 years$11,925$10,435$9,108$7,932$6,894$4,323
14 years$10,960$9,486$8,184$7,041$6,043$3,629
15 years$10,123$8,665$7,389$6,280$5,321$3,057
16 years$9,392$7,950$6,699$5,623$4,702$2,583
17 years$8,748$7,322$6,096$5,052$4,170$2,187
18 years$8,176$6,766$5,565$4,553$3,707$1,856
19 years$7,665$6,270$5,094$4,114$3,304$1,578
20 years$7,205$5,827$4,675$3,726$2,952$1,344
21 years$6,790$5,427$4,300$3,381$2,641$1,145
22 years$6,413$5,066$3,964$3,075$2,368$977
23 years$6,069$4,738$3,660$2,800$2,125$835
24 years$5,755$4,440$3,385$2,554$1,910$713
25 years$5,466$4,166$3,135$2,332$1,719$610
26 years$5,199$3,916$2,907$2,132$1,548$522
27 years$4,953$3,685$2,700$1,952$1,396$447
28 years$4,725$3,472$2,510$1,788$1,260$383
29 years$4,513$3,276$2,336$1,640$1,137$328
30 years$4,315$3,094$2,175$1,505$1,028$281
31 years$4,131$2,925$2,028$1,382$929$241
32 years$3,958$2,767$1,892$1,270$840$206
33 years$3,797$2,621$1,767$1,168$761$177
34 years$3,645$2,484$1,651$1,075$689$152
35 years$3,502$2,356$1,543$989$624$130
36 years$3,367$2,236$1,444$911$565$112
37 years$3,240$2,124$1,351$840$512$96
38 years$3,120$2,018$1,266$774$464$82
39 years$3,006$1,919$1,186$714$421$71
40 years$2,898$1,826$1,111$658$382$60
41 years$2,796$1,738$1,042$607$347$52
42 years$2,699$1,655$977$560$314$45
43 years$2,607$1,577$917$517$285$38
44 years$2,519$1,503$861$478$259$33
45 years$2,435$1,434$808$441$235$28
46 years$2,355$1,368$759$407$214$24
47 years$2,279$1,305$713$376$194$21
48 years$2,206$1,246$670$348$176$18
49 years$2,137$1,190$630$321$160$15
50 years$2,070$1,137$592$297$145$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,120,000, adding $2,745 every year, while hoping to spend $26,844 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: 44/49/7 Blend
60$2,120,000$2,120,000$2,120,000$2,120,000
61$2,339,071$2,226,711$2,193,851$2,437,233
62$2,549,095$2,307,259$2,238,784$2,585,959
63$2,779,641$2,390,853$2,284,321$2,744,073
64$3,032,775$2,477,615$2,330,457$2,914,812
65$3,310,771$2,567,671$2,377,180$3,099,346
66$3,616,136$2,661,153$2,424,481$3,298,953
67$3,951,629$2,758,197$2,472,349$3,515,044
68$4,320,291$2,858,945$2,520,769$3,749,165
69$4,725,474$2,963,546$2,569,728$4,003,015
70$5,170,868$3,072,155$2,619,209$4,278,463
71$5,660,538$3,184,933$2,669,194$4,577,561
72$6,198,966$3,302,047$2,719,665$4,902,568
73$6,791,086$3,423,673$2,770,599$5,255,965
74$7,442,337$3,549,993$2,821,975$5,640,480
75$8,158,710$3,681,198$2,873,766$6,059,115
76$8,946,807$3,817,485$2,925,946$6,515,172
77$9,813,901$3,959,061$2,978,484$7,012,280
78$10,768,006$4,106,142$3,031,351$7,554,434
79$11,817,952$4,258,953$3,084,510$8,146,029
80$12,973,468$4,417,726$3,137,926$8,791,900
81$14,245,274$4,582,707$3,191,559$9,497,367
82$15,645,183$4,754,151$3,245,367$10,268,287
83$17,186,209$4,932,322$3,299,305$11,111,103
84$18,882,695$5,117,498$3,353,324$12,032,908
85$20,750,442$5,309,967$3,407,372$13,041,509
86$22,806,863$5,510,032$3,461,395$14,145,501
87$25,071,145$5,718,006$3,515,334$15,354,344
88$27,564,431$5,934,217$3,569,126$16,678,453
89$30,310,016$6,159,007$3,622,706$18,129,297
90$33,333,573$6,392,733$3,676,001$19,719,500
91$36,663,388$6,635,768$3,728,938$21,462,966
92$40,330,633$6,888,500$3,781,437$23,375,002
93$44,369,655$7,151,334$3,833,413$25,472,465
94$48,818,305$7,424,695$3,884,777$27,773,920
95$53,718,290$7,709,022$3,935,435$30,299,810
96$59,115,570$8,004,778$3,985,286$33,072,649
97$65,060,789$8,312,444$4,034,225$36,117,235
98$71,609,757$8,632,521$4,082,139$39,460,878
99$78,823,972$8,965,535$4,128,910$43,133,658
100$86,771,203$9,312,031$4,174,414$47,168,708