Can I retire at age 61 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$184,977$183,329$181,722$180,153$178,621$176,316
2 years$91,573$89,867$88,215$86,612$85,057$82,738
3 years$60,442$58,729$57,081$55,493$53,964$51,703
4 years$44,880$43,172$41,540$39,980$38,488$36,302
5 years$35,545$33,848$32,237$30,708$29,258$27,154
6 years$29,324$27,639$26,052$24,558$23,151$21,131
7 years$24,882$23,211$21,649$20,190$18,828$16,894
8 years$21,552$19,896$18,360$16,937$15,619$13,770
9 years$18,963$17,323$15,814$14,427$13,154$11,389
10 years$16,893$15,270$13,787$12,436$11,208$9,526
11 years$15,201$13,594$12,138$10,823$9,639$8,038
12 years$13,792$12,201$10,772$9,493$8,353$6,832
13 years$12,600$11,026$9,624$8,381$7,284$5,841
14 years$11,580$10,022$8,647$7,440$6,385$5,017
15 years$10,696$9,156$7,807$6,635$5,622$4,327
16 years$9,924$8,400$7,078$5,941$4,969$3,745
17 years$9,243$7,736$6,441$5,338$4,406$3,250
18 years$8,639$7,149$5,880$4,810$3,917$2,827
19 years$8,099$6,625$5,383$4,347$3,491$2,465
20 years$7,613$6,157$4,940$3,937$3,119$2,153
21 years$7,174$5,735$4,544$3,573$2,791$1,883
22 years$6,776$5,353$4,188$3,249$2,502$1,649
23 years$6,413$5,007$3,867$2,959$2,246$1,446
24 years$6,080$4,691$3,576$2,698$2,018$1,270
25 years$5,775$4,402$3,312$2,464$1,816$1,116
26 years$5,494$4,137$3,072$2,253$1,636$981
27 years$5,234$3,894$2,853$2,062$1,475$863
28 years$4,992$3,669$2,652$1,890$1,331$760
29 years$4,768$3,461$2,468$1,733$1,202$669
30 years$4,560$3,269$2,299$1,590$1,086$590
31 years$4,365$3,090$2,143$1,461$982$520
32 years$4,182$2,924$1,999$1,342$888$458
33 years$4,012$2,769$1,867$1,234$804$404
34 years$3,851$2,624$1,744$1,136$728$357
35 years$3,700$2,489$1,631$1,045$659$315
36 years$3,558$2,363$1,526$963$597$278
37 years$3,423$2,244$1,428$887$541$245
38 years$3,296$2,132$1,337$818$491$217
39 years$3,176$2,028$1,253$754$445$191
40 years$3,062$1,929$1,174$695$404$169
41 years$2,954$1,836$1,101$642$366$149
42 years$2,852$1,749$1,033$592$332$132
43 years$2,754$1,666$969$547$302$117
44 years$2,661$1,588$910$505$274$103
45 years$2,573$1,515$854$466$248$91
46 years$2,489$1,445$802$431$226$80
47 years$2,408$1,379$754$398$205$71
48 years$2,331$1,316$708$368$186$63
49 years$2,257$1,257$666$340$169$56
50 years$2,187$1,201$626$314$153$49

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,240,000, adding $5,787 every year, while hoping to spend $25,129 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: 42/35/23 Blend
60$2,240,000$2,240,000$2,240,000$2,240,000
61$2,474,449$2,355,729$2,321,009$2,561,492
62$2,700,106$2,444,423$2,372,026$2,712,839
63$2,947,938$2,536,620$2,423,910$2,873,786
64$3,220,179$2,632,467$2,476,663$3,047,579
65$3,519,293$2,732,114$2,530,287$3,235,413
66$3,847,993$2,835,719$2,584,783$3,438,604
67$4,209,266$2,943,447$2,640,151$3,658,594
68$4,606,406$3,055,470$2,696,391$3,896,971
69$5,043,039$3,171,968$2,753,500$4,155,478
70$5,523,163$3,293,129$2,811,476$4,436,034
71$6,051,180$3,419,146$2,870,315$4,740,748
72$6,631,941$3,550,225$2,930,011$5,071,939
73$7,270,792$3,686,579$2,990,559$5,432,157
74$7,973,620$3,828,429$3,051,950$5,824,208
75$8,746,915$3,976,008$3,114,176$6,251,178
76$9,597,826$4,129,558$3,177,227$6,716,462
77$10,534,229$4,289,331$3,241,089$7,223,796
78$11,564,805$4,455,592$3,305,750$7,777,291
79$12,699,116$4,628,617$3,371,193$8,381,472
80$13,947,700$4,808,693$3,437,402$9,041,316
81$15,322,167$4,996,121$3,504,357$9,762,304
82$16,835,312$5,191,215$3,572,037$10,550,467
83$18,501,231$5,394,302$3,640,418$11,412,445
84$20,335,459$5,605,725$3,709,474$12,355,547
85$22,355,112$5,825,842$3,779,177$13,387,821
86$24,579,051$6,055,026$3,849,497$14,518,125
87$27,028,058$6,293,666$3,920,399$15,756,215
88$29,725,036$6,542,171$3,991,848$17,112,830
89$32,695,219$6,800,967$4,063,805$18,599,798
90$35,966,414$7,070,498$4,136,225$20,230,143
91$39,569,265$7,351,229$4,209,065$22,018,207
92$43,537,536$7,643,645$4,282,275$23,979,785
93$47,908,436$7,948,254$4,355,802$26,132,272
94$52,722,964$8,265,586$4,429,589$28,494,825
95$58,026,302$8,596,196$4,503,576$31,088,546
96$63,868,236$8,940,661$4,577,698$33,936,675
97$70,303,631$9,299,588$4,651,885$37,064,812
98$77,392,942$9,673,608$4,726,064$40,501,151
99$85,202,790$10,063,384$4,800,155$44,276,754
100$93,806,590$10,469,604$4,874,076$48,425,831