Can I retire at age 61 with 2,330,000?

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 $2,330,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$192,409$190,695$189,023$187,391$185,797$184,781
2 years$95,252$93,478$91,759$90,092$88,475$87,450
3 years$62,871$61,089$59,374$57,723$56,132$55,130
4 years$46,683$44,907$43,209$41,586$40,034$39,062
5 years$36,973$35,208$33,532$31,942$30,433$29,494
6 years$30,502$28,750$27,099$25,544$24,081$23,176
7 years$25,881$24,144$22,519$21,001$19,584$18,714
8 years$22,418$20,696$19,098$17,618$16,247$15,412
9 years$19,725$18,019$16,449$15,006$13,682$12,882
10 years$17,572$15,883$14,341$12,936$11,658$10,892
11 years$15,812$14,140$12,625$11,258$10,026$9,294
12 years$14,346$12,691$11,205$9,875$8,689$7,989
13 years$13,107$11,469$10,011$8,718$7,577$6,910
14 years$12,045$10,425$8,995$7,739$6,642$6,006
15 years$11,126$9,524$8,121$6,902$5,848$5,243
16 years$10,323$8,738$7,363$6,180$5,168$4,594
17 years$9,615$8,047$6,700$5,552$4,583$4,037
18 years$8,986$7,436$6,116$5,004$4,075$3,558
19 years$8,424$6,891$5,599$4,521$3,632$3,142
20 years$7,919$6,404$5,139$4,095$3,244$2,781
21 years$7,463$5,965$4,726$3,716$2,903$2,465
22 years$7,048$5,568$4,356$3,379$2,602$2,188
23 years$6,670$5,208$4,022$3,077$2,336$1,946
24 years$6,325$4,879$3,720$2,807$2,099$1,732
25 years$6,007$4,579$3,445$2,563$1,889$1,543
26 years$5,714$4,303$3,195$2,344$1,702$1,376
27 years$5,444$4,050$2,967$2,145$1,534$1,228
28 years$5,193$3,816$2,758$1,966$1,384$1,097
29 years$4,960$3,600$2,567$1,802$1,250$980
30 years$4,743$3,400$2,391$1,654$1,130$876
31 years$4,540$3,214$2,229$1,519$1,021$784
32 years$4,350$3,041$2,080$1,396$924$702
33 years$4,173$2,880$1,942$1,284$836$628
34 years$4,006$2,730$1,814$1,181$757$563
35 years$3,849$2,589$1,696$1,087$686$504
36 years$3,701$2,457$1,587$1,002$621$452
37 years$3,561$2,334$1,485$923$563$405
38 years$3,429$2,218$1,391$851$510$363
39 years$3,304$2,109$1,303$784$463$326
40 years$3,185$2,007$1,221$723$420$292
41 years$3,073$1,910$1,145$667$381$262
42 years$2,966$1,819$1,074$616$346$235
43 years$2,865$1,733$1,008$569$314$211
44 years$2,768$1,652$946$525$285$190
45 years$2,676$1,576$889$485$258$170
46 years$2,589$1,503$835$448$235$153
47 years$2,505$1,434$784$414$213$137
48 years$2,425$1,369$737$382$194$123
49 years$2,348$1,308$692$353$176$111
50 years$2,275$1,249$651$327$160$99

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,330,000, adding $2,313 every year, while hoping to spend $54,089 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: 38/41/21 Blend
60$2,330,000$2,330,000$2,330,000$2,330,000
61$2,570,046$2,446,556$2,410,441$2,651,464
62$2,774,640$2,508,887$2,433,640$2,772,932
63$2,998,290$2,572,459$2,455,804$2,898,860
64$3,242,883$2,637,277$2,476,841$3,033,851
65$3,510,495$2,703,341$2,496,653$3,178,757
66$3,803,414$2,770,654$2,515,139$3,334,514
67$4,124,159$2,839,212$2,532,193$3,502,151
68$4,475,502$2,909,012$2,547,700$3,682,806
69$4,860,499$2,980,050$2,561,544$3,877,728
70$5,282,513$3,052,316$2,573,599$4,088,296
71$5,745,250$3,125,799$2,583,735$4,316,029
72$6,252,789$3,200,487$2,591,813$4,562,600
73$6,809,625$3,276,362$2,597,691$4,829,852
74$7,420,708$3,353,405$2,601,215$5,119,818
75$8,091,492$3,431,594$2,602,227$5,434,736
76$8,827,982$3,510,900$2,600,560$5,777,075
77$9,636,796$3,591,294$2,596,038$6,149,553
78$10,525,222$3,672,740$2,588,479$6,555,170
79$11,501,291$3,755,200$2,577,688$6,997,227
80$12,573,847$3,838,629$2,563,465$7,479,368
81$13,752,635$3,922,978$2,545,597$8,005,606
82$15,048,392$4,008,192$2,523,863$8,580,365
83$16,472,945$4,094,211$2,498,030$9,208,522
84$18,039,326$4,180,967$2,467,854$9,895,452
85$19,761,890$4,268,388$2,433,080$10,647,082
86$21,656,457$4,356,393$2,393,443$11,469,942
87$23,740,454$4,444,895$2,348,661$12,371,232
88$26,033,082$4,533,796$2,298,443$13,358,889
89$28,555,497$4,622,993$2,242,482$14,441,660
90$31,331,011$4,712,373$2,180,458$15,629,190
91$34,385,307$4,801,812$2,112,036$16,932,109
92$37,746,685$4,891,178$2,036,866$18,362,134
93$41,446,327$4,980,326$1,954,582$19,932,182
94$45,518,592$5,069,101$1,864,799$21,656,491
95$50,001,336$5,157,335$1,767,118$23,550,756
96$54,936,276$5,244,848$1,661,120$25,632,276
97$60,369,376$5,331,445$1,546,367$27,920,123
98$66,351,284$5,416,918$1,422,402$30,435,317
99$72,937,810$5,501,042$1,288,748$33,201,029
100$80,190,451$5,583,577$1,144,905$36,242,800