Can I retire at age 61 with 2,190,000?

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 $2,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$180,848$179,237$177,666$176,132$174,634$167,639
2 years$89,529$87,861$86,245$84,679$83,159$76,199
3 years$59,093$57,418$55,807$54,254$52,759$46,055
4 years$43,878$42,209$40,613$39,087$37,628$31,229
5 years$34,751$33,092$31,517$30,023$28,605$22,527
6 years$28,669$27,022$25,471$24,009$22,634$16,882
7 years$24,326$22,693$21,166$19,739$18,407$12,979
8 years$21,071$19,452$17,951$16,559$15,271$10,160
9 years$18,540$16,937$15,461$14,105$12,860$8,060
10 years$16,516$14,929$13,479$12,158$10,957$6,458
11 years$14,862$13,290$11,867$10,581$9,424$5,214
12 years$13,484$11,929$10,531$9,281$8,166$4,235
13 years$12,319$10,780$9,409$8,194$7,121$3,457
14 years$11,321$9,799$8,454$7,274$6,242$2,832
15 years$10,458$8,951$7,633$6,487$5,496$2,327
16 years$9,703$8,213$6,920$5,808$4,858$1,917
17 years$9,037$7,564$6,297$5,219$4,307$1,583
18 years$8,446$6,989$5,749$4,703$3,830$1,308
19 years$7,918$6,477$5,263$4,250$3,414$1,083
20 years$7,443$6,019$4,830$3,849$3,049$898
21 years$7,014$5,607$4,442$3,493$2,729$745
22 years$6,625$5,234$4,094$3,176$2,446$619
23 years$6,270$4,895$3,780$2,892$2,195$514
24 years$5,945$4,586$3,496$2,638$1,973$427
25 years$5,646$4,304$3,238$2,409$1,776$355
26 years$5,371$4,045$3,003$2,203$1,599$295
27 years$5,117$3,807$2,789$2,016$1,442$246
28 years$4,881$3,587$2,593$1,847$1,301$205
29 years$4,662$3,384$2,413$1,694$1,175$170
30 years$4,458$3,196$2,247$1,555$1,062$142
31 years$4,267$3,021$2,095$1,428$960$118
32 years$4,089$2,859$1,955$1,312$868$98
33 years$3,922$2,707$1,825$1,207$786$82
34 years$3,765$2,566$1,705$1,110$711$68
35 years$3,617$2,434$1,594$1,022$644$57
36 years$3,478$2,310$1,491$941$584$47
37 years$3,347$2,194$1,396$867$529$39
38 years$3,223$2,085$1,307$799$480$33
39 years$3,105$1,983$1,225$737$435$27
40 years$2,994$1,886$1,148$680$395$23
41 years$2,888$1,795$1,076$627$358$19
42 years$2,788$1,710$1,010$579$325$16
43 years$2,693$1,629$948$534$295$13
44 years$2,602$1,553$889$493$268$11
45 years$2,516$1,481$835$456$243$9
46 years$2,433$1,413$784$421$221$8
47 years$2,354$1,348$737$389$200$6
48 years$2,279$1,287$692$359$182$5
49 years$2,207$1,229$651$332$165$4
50 years$2,138$1,174$612$307$150$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,190,000, adding $5,684 every year, while hoping to spend $34,965 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: 54/19/27 Blend
60$2,190,000$2,190,000$2,190,000$2,190,000
61$2,419,243$2,303,173$2,269,228$2,531,475
62$2,628,803$2,378,826$2,308,045$2,685,252
63$2,858,567$2,457,014$2,346,990$2,848,517
64$3,110,558$2,537,825$2,386,031$3,025,561
65$3,387,004$2,621,348$2,425,133$3,217,719
66$3,690,363$2,707,678$2,464,259$3,426,460
67$4,023,337$2,796,911$2,503,368$3,653,402
68$4,388,906$2,889,149$2,542,420$3,900,327
69$4,790,352$2,984,494$2,581,368$4,169,194
70$5,231,289$3,083,055$2,620,165$4,462,164
71$5,715,699$3,184,944$2,658,760$4,781,615
72$6,247,971$3,290,277$2,697,099$5,130,165
73$6,832,936$3,399,172$2,735,123$5,510,698
74$7,475,919$3,511,756$2,772,774$5,926,390
75$8,182,786$3,628,155$2,809,985$6,380,741
76$8,960,000$3,748,504$2,846,689$6,877,603
77$9,814,680$3,872,942$2,882,814$7,421,221
78$10,754,672$4,001,610$2,918,283$8,016,271
79$11,788,619$4,134,659$2,953,015$8,667,903
80$12,926,042$4,272,242$2,986,925$9,381,791
81$14,177,435$4,414,518$3,019,924$10,164,185
82$15,554,357$4,561,653$3,051,915$11,021,971
83$17,069,546$4,713,819$3,082,799$11,962,736
84$18,737,037$4,871,193$3,112,470$12,994,838
85$20,572,293$5,033,960$3,140,816$14,127,483
86$22,592,354$5,202,311$3,167,720$15,370,818
87$24,815,995$5,376,445$3,193,059$16,736,021
88$27,263,902$5,556,566$3,216,702$18,235,406
89$29,958,871$5,742,889$3,238,513$19,882,542
90$32,926,019$5,935,634$3,258,347$21,692,382
91$36,193,024$6,135,031$3,276,052$23,681,399
92$39,790,382$6,341,317$3,291,470$25,867,744
93$43,751,700$6,554,741$3,304,433$28,271,418
94$48,114,007$6,775,557$3,314,765$30,914,459
95$52,918,108$7,004,031$3,322,282$33,821,150
96$58,208,967$7,240,440$3,326,790$37,018,250
97$64,036,129$7,485,069$3,328,085$40,535,243
98$70,454,191$7,738,215$3,325,953$44,404,618
99$77,523,317$8,000,186$3,320,171$48,662,176
100$85,309,802$8,271,301$3,310,503$53,347,367