Can I retire at age 61 with 2,230,000?

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 $2,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$184,151$182,511$180,911$179,349$177,823$175,674
2 years$91,164$89,466$87,821$86,225$84,678$82,515
3 years$60,172$58,467$56,826$55,245$53,723$51,614
4 years$44,679$42,980$41,355$39,801$38,316$36,276
5 years$35,386$33,696$32,093$30,571$29,127$27,163
6 years$29,193$27,516$25,936$24,448$23,047$21,161
7 years$24,771$23,108$21,553$20,100$18,744$16,936
8 years$21,455$19,808$18,278$16,861$15,550$13,821
9 years$18,878$17,246$15,743$14,362$13,095$11,444
10 years$16,818$15,202$13,725$12,380$11,158$9,584
11 years$15,133$13,533$12,084$10,775$9,596$8,097
12 years$13,730$12,147$10,724$9,451$8,316$6,891
13 years$12,544$10,977$9,581$8,344$7,251$5,899
14 years$11,528$9,978$8,609$7,407$6,357$5,074
15 years$10,649$9,115$7,772$6,605$5,597$4,382
16 years$9,880$8,363$7,047$5,914$4,946$3,797
17 years$9,202$7,702$6,412$5,314$4,386$3,300
18 years$8,600$7,117$5,854$4,789$3,900$2,875
19 years$8,062$6,596$5,359$4,327$3,476$2,510
20 years$7,579$6,129$4,918$3,919$3,105$2,196
21 years$7,142$5,709$4,524$3,557$2,778$1,924
22 years$6,746$5,329$4,169$3,234$2,490$1,687
23 years$6,384$4,984$3,850$2,945$2,236$1,482
24 years$6,053$4,670$3,560$2,686$2,009$1,303
25 years$5,749$4,382$3,297$2,453$1,808$1,147
26 years$5,469$4,119$3,058$2,243$1,629$1,010
27 years$5,210$3,876$2,840$2,053$1,468$890
28 years$4,970$3,653$2,640$1,881$1,325$785
29 years$4,747$3,446$2,457$1,725$1,196$692
30 years$4,539$3,254$2,288$1,583$1,081$611
31 years$4,345$3,076$2,133$1,454$977$540
32 years$4,164$2,911$1,990$1,336$884$477
33 years$3,994$2,757$1,858$1,229$800$421
34 years$3,834$2,613$1,736$1,131$724$372
35 years$3,683$2,478$1,623$1,041$656$329
36 years$3,542$2,352$1,519$959$594$291
37 years$3,408$2,234$1,421$883$539$257
38 years$3,282$2,123$1,331$814$488$228
39 years$3,162$2,019$1,247$751$443$201
40 years$3,049$1,921$1,169$692$402$178
41 years$2,941$1,828$1,096$639$365$158
42 years$2,839$1,741$1,028$589$331$140
43 years$2,742$1,659$965$544$300$124
44 years$2,650$1,581$906$502$272$109
45 years$2,561$1,508$850$464$247$97
46 years$2,477$1,439$799$429$225$86
47 years$2,397$1,373$750$396$204$76
48 years$2,321$1,311$705$366$185$67
49 years$2,247$1,252$663$338$168$59
50 years$2,177$1,195$623$313$153$53

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,230,000, adding $6,210 every year, while hoping to spend $54,832 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: 45/41/14 Blend
60$2,230,000$2,230,000$2,230,000$2,230,000
61$2,463,866$2,345,676$2,311,111$2,564,624
62$2,656,839$2,402,273$2,330,192$2,691,999
63$2,867,658$2,459,806$2,348,075$2,824,006
64$3,098,085$2,518,262$2,364,661$2,965,950
65$3,350,060$2,577,627$2,379,848$3,118,772
66$3,625,720$2,637,885$2,393,526$3,283,510
67$3,927,416$2,699,014$2,405,582$3,461,304
68$4,257,740$2,760,993$2,415,897$3,653,412
69$4,619,543$2,823,795$2,424,343$3,861,219
70$5,015,967$2,887,391$2,430,788$4,086,251
71$5,450,470$2,951,748$2,435,095$4,330,190
72$5,926,863$3,016,829$2,437,116$4,594,889
73$6,449,343$3,082,593$2,436,699$4,882,388
74$7,022,531$3,148,995$2,433,683$5,194,937
75$7,651,517$3,215,984$2,427,899$5,535,014
76$8,341,910$3,283,505$2,419,172$5,905,351
77$9,099,885$3,351,498$2,407,315$6,308,960
78$9,932,248$3,419,896$2,392,135$6,749,156
79$10,846,494$3,488,627$2,373,428$7,229,598
80$11,850,879$3,557,613$2,350,980$7,754,314
81$12,954,500$3,626,767$2,324,569$8,327,748
82$14,167,377$3,695,996$2,293,960$8,954,794
83$15,500,550$3,765,201$2,258,909$9,640,849
84$16,966,182$3,834,272$2,219,158$10,391,860
85$18,577,673$3,903,092$2,174,440$11,214,384
86$20,349,786$3,971,533$2,124,474$12,115,646
87$22,298,785$4,039,459$2,068,965$13,103,611
88$24,442,592$4,106,724$2,007,606$14,187,059
89$26,800,952$4,173,168$1,940,076$15,375,666
90$29,395,618$4,238,623$1,866,038$16,680,100
91$32,250,561$4,302,905$1,785,140$18,112,118
92$35,392,190$4,365,820$1,697,014$19,684,679
93$38,849,606$4,427,157$1,601,277$21,412,069
94$42,654,872$4,486,694$1,497,526$23,310,035
95$46,843,317$4,544,190$1,385,341$25,395,932
96$51,453,869$4,599,390$1,264,284$27,688,891
97$56,529,423$4,652,019$1,133,896$30,210,000
98$62,117,242$4,701,785$993,699$32,982,503
99$68,269,405$4,748,378$843,193$36,032,020
100$75,043,300$4,791,463$681,855$39,386,790