Can I retire at age 61 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$183,326$181,693$180,099$178,544$177,026$175,689
2 years$90,755$89,065$87,427$85,839$84,298$82,951
3 years$59,902$58,205$56,571$54,998$53,482$52,166
4 years$44,479$42,787$41,169$39,623$38,144$36,868
5 years$35,228$33,545$31,949$30,434$28,996$27,765
6 years$29,062$27,392$25,820$24,338$22,944$21,759
7 years$24,659$23,004$21,456$20,010$18,660$17,521
8 years$21,359$19,719$18,197$16,786$15,480$14,389
9 years$18,794$17,169$15,673$14,298$13,036$11,992
10 years$16,742$15,133$13,664$12,325$11,108$10,109
11 years$15,065$13,472$12,029$10,726$9,553$8,599
12 years$13,669$12,092$10,676$9,408$8,278$7,369
13 years$12,488$10,928$9,538$8,306$7,219$6,353
14 years$11,477$9,933$8,570$7,373$6,328$5,504
15 years$10,601$9,074$7,738$6,576$5,572$4,789
16 years$9,835$8,325$7,015$5,888$4,924$4,182
17 years$9,161$7,667$6,384$5,290$4,366$3,662
18 years$8,562$7,085$5,827$4,768$3,882$3,216
19 years$8,026$6,566$5,335$4,308$3,460$2,830
20 years$7,545$6,102$4,896$3,902$3,091$2,495
21 years$7,110$5,683$4,503$3,541$2,766$2,204
22 years$6,715$5,305$4,150$3,220$2,479$1,950
23 years$6,356$4,962$3,832$2,932$2,226$1,727
24 years$6,026$4,649$3,544$2,674$2,000$1,531
25 years$5,724$4,363$3,283$2,442$1,800$1,359
26 years$5,445$4,100$3,044$2,233$1,621$1,207
27 years$5,187$3,859$2,827$2,044$1,462$1,073
28 years$4,948$3,636$2,628$1,873$1,319$955
29 years$4,726$3,430$2,446$1,717$1,191$850
30 years$4,519$3,240$2,278$1,576$1,076$757
31 years$4,326$3,062$2,124$1,448$973$674
32 years$4,145$2,898$1,982$1,330$880$601
33 years$3,976$2,744$1,850$1,223$797$536
34 years$3,817$2,601$1,729$1,126$721$478
35 years$3,667$2,467$1,616$1,036$653$427
36 years$3,526$2,341$1,512$954$592$381
37 years$3,393$2,224$1,415$879$536$340
38 years$3,267$2,113$1,325$810$486$303
39 years$3,148$2,010$1,242$747$441$271
40 years$3,035$1,912$1,164$689$400$242
41 years$2,928$1,820$1,091$636$363$216
42 years$2,826$1,733$1,024$587$329$193
43 years$2,730$1,652$960$542$299$173
44 years$2,638$1,574$902$500$271$154
45 years$2,550$1,501$847$462$246$138
46 years$2,466$1,432$795$427$224$123
47 years$2,387$1,367$747$394$203$110
48 years$2,310$1,305$702$364$184$99
49 years$2,237$1,246$660$337$167$88
50 years$2,167$1,190$620$311$152$79

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,220,000, adding $6,907 every year, while hoping to spend $45,875 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: 50/23/27 Blend
60$2,220,000$2,220,000$2,220,000$2,220,000
61$2,453,565$2,335,905$2,301,495$2,557,210
62$2,655,018$2,401,553$2,329,784$2,695,933
63$2,875,481$2,468,881$2,357,484$2,841,492
64$3,116,846$2,537,922$2,384,525$2,998,800
65$3,381,194$2,608,710$2,410,837$3,168,994
66$3,670,819$2,681,280$2,436,342$3,353,323
67$3,988,244$2,755,664$2,460,961$3,553,165
68$4,336,251$2,831,898$2,484,610$3,770,037
69$4,717,903$2,910,016$2,507,199$4,005,610
70$5,136,573$2,990,050$2,528,634$4,261,725
71$5,595,978$3,072,036$2,548,817$4,540,410
72$6,100,208$3,156,007$2,567,643$4,843,899
73$6,653,774$3,241,996$2,585,004$5,174,654
74$7,261,640$3,330,035$2,600,783$5,535,388
75$7,929,279$3,420,158$2,614,860$5,929,087
76$8,662,715$3,512,396$2,627,108$6,359,047
77$9,468,588$3,606,780$2,637,393$6,828,894
78$10,354,213$3,703,340$2,645,573$7,342,627
79$11,327,645$3,802,106$2,651,503$7,904,653
80$12,397,762$3,903,107$2,655,026$8,519,825
81$13,574,345$4,006,370$2,655,980$9,193,494
82$14,868,167$4,111,921$2,654,194$9,931,555
83$16,291,100$4,219,785$2,649,490$10,740,507
84$17,856,223$4,329,986$2,641,679$11,627,509
85$19,577,947$4,442,544$2,630,564$12,600,451
86$21,472,149$4,557,480$2,615,939$13,668,030
87$23,556,323$4,674,812$2,597,588$14,839,828
88$25,849,744$4,794,554$2,575,283$16,126,407
89$28,373,651$4,916,719$2,548,788$17,539,407
90$31,151,443$5,041,319$2,517,853$19,091,654
91$34,208,907$5,168,360$2,482,217$20,797,285
92$37,574,452$5,297,846$2,441,608$22,671,879
93$41,279,385$5,429,779$2,395,740$24,732,607
94$45,358,199$5,564,155$2,344,314$26,998,391
95$49,848,904$5,700,968$2,287,018$29,490,086
96$54,793,383$5,840,205$2,223,523$32,230,675
97$60,237,784$5,981,852$2,153,488$35,245,487
98$66,232,963$6,125,887$2,076,554$38,562,438
99$72,834,953$6,272,284$1,992,347$42,212,294
100$80,105,503$6,421,010$1,900,475$46,228,959