Can I retire at age 61 with 2,170,000?

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 $2,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$179,197$177,600$176,043$174,523$173,039$166,966
2 years$88,711$87,059$85,458$83,905$82,399$76,345
3 years$58,553$56,894$55,297$53,759$52,278$46,431
4 years$43,477$41,823$40,242$38,730$37,285$31,692
5 years$34,434$32,790$31,229$29,749$28,343$23,018
6 years$28,407$26,775$25,238$23,790$22,427$17,374
7 years$24,104$22,486$20,973$19,559$18,239$13,457
8 years$20,878$19,275$17,787$16,408$15,131$10,616
9 years$18,370$16,782$15,320$13,976$12,743$8,489
10 years$16,365$14,793$13,356$12,047$10,857$6,858
11 years$14,726$13,169$11,758$10,485$9,338$5,584
12 years$13,361$11,820$10,435$9,196$8,092$4,576
13 years$12,207$10,682$9,323$8,119$7,056$3,768
14 years$11,218$9,709$8,377$7,207$6,185$3,115
15 years$10,362$8,870$7,563$6,428$5,446$2,584
16 years$9,614$8,138$6,857$5,755$4,813$2,149
17 years$8,954$7,494$6,240$5,171$4,268$1,791
18 years$8,369$6,925$5,696$4,660$3,795$1,495
19 years$7,846$6,418$5,215$4,211$3,382$1,250
20 years$7,375$5,964$4,786$3,814$3,021$1,047
21 years$6,950$5,555$4,402$3,461$2,704$877
22 years$6,564$5,186$4,057$3,147$2,423$736
23 years$6,212$4,850$3,746$2,866$2,175$617
24 years$5,890$4,544$3,464$2,614$1,955$519
25 years$5,595$4,265$3,209$2,387$1,759$436
26 years$5,322$4,008$2,976$2,183$1,585$366
27 years$5,070$3,772$2,763$1,998$1,429$308
28 years$4,836$3,554$2,569$1,831$1,289$259
29 years$4,619$3,353$2,391$1,679$1,164$218
30 years$4,417$3,167$2,227$1,541$1,052$183
31 years$4,228$2,994$2,076$1,415$951$154
32 years$4,052$2,832$1,937$1,300$860$130
33 years$3,886$2,682$1,808$1,196$779$109
34 years$3,731$2,542$1,690$1,100$705$92
35 years$3,584$2,411$1,580$1,013$638$78
36 years$3,446$2,289$1,478$933$578$65
37 years$3,316$2,174$1,383$859$524$55
38 years$3,193$2,066$1,295$792$475$46
39 years$3,077$1,964$1,214$730$431$39
40 years$2,967$1,869$1,138$674$391$33
41 years$2,862$1,779$1,067$622$355$28
42 years$2,763$1,694$1,001$574$322$23
43 years$2,668$1,614$939$530$292$20
44 years$2,578$1,539$881$489$265$17
45 years$2,493$1,467$827$452$241$14
46 years$2,411$1,400$777$417$219$12
47 years$2,333$1,336$730$385$198$10
48 years$2,258$1,275$686$356$180$8
49 years$2,187$1,218$645$329$164$7
50 years$2,119$1,163$606$304$149$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,170,000, adding $2,570 every year, while hoping to spend $28,237 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: 62/14/24 Blend
60$2,170,000$2,170,000$2,170,000$2,170,000
61$2,393,991$2,278,981$2,245,346$2,527,090
62$2,608,134$2,360,607$2,290,521$2,699,149
63$2,843,173$2,445,286$2,336,263$2,883,593
64$3,101,211$2,533,139$2,382,562$3,084,356
65$3,384,561$2,624,289$2,429,404$3,303,036
66$3,695,774$2,718,867$2,476,777$3,541,391
67$4,037,659$2,817,008$2,524,665$3,801,355
68$4,413,312$2,918,853$2,573,053$4,085,062
69$4,826,141$3,024,548$2,621,922$4,394,856
70$5,279,903$3,134,247$2,671,251$4,733,322
71$5,778,735$3,248,107$2,721,021$5,103,306
72$6,327,198$3,366,296$2,771,207$5,507,940
73$6,930,313$3,488,986$2,821,783$5,950,677
74$7,593,615$3,616,356$2,872,723$6,435,316
75$8,323,201$3,748,594$2,923,996$6,966,044
76$9,125,788$3,885,896$2,975,570$7,547,470
77$10,008,778$4,028,464$3,027,411$8,184,675
78$10,980,325$4,176,512$3,079,482$8,883,251
79$12,049,417$4,330,259$3,131,743$9,649,360
80$13,225,952$4,489,936$3,184,151$10,489,791
81$14,520,840$4,655,784$3,236,661$11,412,020
82$15,946,100$4,828,052$3,289,224$12,424,286
83$17,514,977$5,007,002$3,341,788$13,535,661
84$19,242,065$5,192,905$3,394,298$14,756,145
85$21,143,443$5,386,044$3,446,694$16,096,749
86$23,236,830$5,586,717$3,498,914$17,569,610
87$25,541,751$5,795,230$3,550,892$19,188,094
88$28,079,718$6,011,905$3,602,556$20,966,931
89$30,874,439$6,237,078$3,653,831$22,922,349
90$33,952,035$6,471,097$3,704,637$25,072,226
91$37,341,290$6,714,329$3,754,890$27,436,263
92$41,073,922$6,967,152$3,804,500$30,036,163
93$45,184,884$7,229,964$3,853,372$32,895,843
94$49,712,689$7,503,179$3,901,407$36,041,653
95$54,699,776$7,787,227$3,948,497$39,502,625
96$60,192,913$8,082,561$3,994,531$43,310,753
97$66,243,633$8,389,650$4,039,391$47,501,285
98$72,908,724$8,708,983$4,082,951$52,113,063
99$80,250,765$9,041,074$4,125,081$57,188,886
100$88,338,712$9,386,456$4,165,640$62,775,910