Can I retire at age 61 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$191,583$189,877$188,212$186,587$185,000$177,871
2 years$94,843$93,077$91,365$89,705$88,095$80,998
3 years$62,601$60,827$59,119$57,475$55,891$49,049
4 years$46,483$44,714$43,024$41,408$39,862$33,327
5 years$36,814$35,056$33,388$31,805$30,303$24,091
6 years$30,371$28,626$26,983$25,435$23,977$18,094
7 years$25,770$24,040$22,423$20,911$19,500$13,943
8 years$22,321$20,607$19,016$17,542$16,177$10,941
9 years$19,640$17,942$16,379$14,942$13,624$8,700
10 years$17,497$15,815$14,279$12,880$11,608$6,989
11 years$15,744$14,079$12,571$11,209$9,983$5,658
12 years$14,284$12,637$11,157$9,832$8,651$4,608
13 years$13,050$11,420$9,968$8,680$7,544$3,771
14 years$11,994$10,380$8,956$7,705$6,613$3,098
15 years$11,078$9,483$8,086$6,872$5,823$2,553
16 years$10,278$8,700$7,331$6,153$5,146$2,109
17 years$9,573$8,013$6,671$5,528$4,563$1,746
18 years$8,947$7,404$6,090$4,982$4,057$1,448
19 years$8,388$6,862$5,575$4,502$3,616$1,203
20 years$7,885$6,376$5,116$4,077$3,230$1,000
21 years$7,431$5,939$4,706$3,700$2,891$832
22 years$7,018$5,544$4,337$3,365$2,591$693
23 years$6,642$5,185$4,005$3,064$2,326$578
24 years$6,298$4,858$3,704$2,795$2,090$482
25 years$5,981$4,559$3,430$2,552$1,881$402
26 years$5,690$4,285$3,182$2,334$1,694$335
27 years$5,420$4,033$2,954$2,136$1,528$280
28 years$5,171$3,800$2,746$1,957$1,378$234
29 years$4,939$3,585$2,556$1,795$1,245$195
30 years$4,723$3,386$2,381$1,647$1,125$163
31 years$4,521$3,200$2,219$1,513$1,017$136
32 years$4,332$3,028$2,071$1,390$920$114
33 years$4,155$2,868$1,933$1,278$832$95
34 years$3,989$2,718$1,807$1,176$754$80
35 years$3,832$2,578$1,689$1,083$683$66
36 years$3,685$2,447$1,580$997$618$56
37 years$3,546$2,324$1,479$919$561$46
38 years$3,414$2,209$1,385$847$508$39
39 years$3,290$2,100$1,297$781$461$32
40 years$3,172$1,998$1,216$720$418$27
41 years$3,060$1,902$1,140$665$379$23
42 years$2,954$1,811$1,070$613$344$19
43 years$2,853$1,726$1,004$566$312$16
44 years$2,756$1,645$942$523$283$13
45 years$2,665$1,569$885$483$257$11
46 years$2,577$1,497$831$446$234$9
47 years$2,494$1,428$781$412$212$8
48 years$2,414$1,363$734$381$193$6
49 years$2,338$1,302$690$352$175$5
50 years$2,265$1,244$648$325$159$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,320,000, adding $5,647 every year, while hoping to spend $46,097 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: 34/46/20 Blend
60$2,320,000$2,320,000$2,320,000$2,320,000
61$2,562,465$2,439,505$2,403,545$2,633,703
62$2,774,789$2,509,994$2,435,017$2,757,284
63$3,007,226$2,582,392$2,465,998$2,885,810
64$3,261,778$2,656,743$2,496,423$3,023,454
65$3,540,650$2,733,094$2,526,224$3,171,049
66$3,846,271$2,811,491$2,555,328$3,329,513
67$4,181,317$2,891,980$2,583,657$3,499,855
68$4,548,733$2,974,609$2,611,132$3,683,184
69$4,951,765$3,059,426$2,637,666$3,880,723
70$5,393,986$3,146,479$2,663,169$4,093,816
71$5,879,334$3,235,818$2,687,546$4,323,941
72$6,412,145$3,327,492$2,710,698$4,572,727
73$6,997,196$3,421,551$2,732,519$4,841,966
74$7,639,749$3,518,046$2,752,897$5,133,632
75$8,345,601$3,617,028$2,771,716$5,449,896
76$9,121,137$3,718,548$2,788,854$5,793,152
77$9,973,393$3,822,657$2,804,181$6,166,032
78$10,910,120$3,929,407$2,817,561$6,571,439
79$11,939,854$4,038,850$2,828,852$7,012,567
80$13,072,004$4,151,039$2,837,904$7,492,935
81$14,316,934$4,266,025$2,844,558$8,016,418
82$15,686,061$4,383,860$2,848,651$8,587,287
83$17,191,966$4,504,596$2,850,007$9,210,243
84$18,848,510$4,628,285$2,848,446$9,890,469
85$20,670,965$4,754,978$2,843,776$10,633,671
86$22,676,158$4,884,726$2,835,797$11,446,137
87$24,882,628$5,017,579$2,824,298$12,334,796
88$27,310,803$5,153,588$2,809,059$13,307,278
89$29,983,192$5,292,801$2,789,850$14,371,995
90$32,924,595$5,435,265$2,766,427$15,538,212
91$36,162,339$5,581,029$2,738,538$16,816,137
92$39,726,536$5,730,137$2,705,917$18,217,021
93$43,650,363$5,882,634$2,668,286$19,753,259
94$47,970,380$6,038,563$2,625,353$21,438,508
95$52,726,870$6,197,964$2,576,814$23,287,821
96$57,964,223$6,360,877$2,522,349$25,317,781
97$63,731,351$6,527,337$2,461,625$27,546,664
98$70,082,152$6,697,380$2,394,293$29,994,609
99$77,076,015$6,871,035$2,319,986$32,683,809
100$84,778,386$7,048,333$2,238,322$35,638,717