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%16.6%
1 years$192,409$190,695$189,023$187,391$185,797$180,793
2 years$95,252$93,478$91,759$90,092$88,475$83,468
3 years$62,871$61,089$59,374$57,723$56,132$51,281
4 years$46,683$44,907$43,209$41,586$40,034$35,375
5 years$36,973$35,208$33,532$31,942$30,433$25,979
6 years$30,502$28,750$27,099$25,544$24,081$19,836
7 years$25,881$24,144$22,519$21,001$19,584$15,549
8 years$22,418$20,696$19,098$17,618$16,247$12,419
9 years$19,725$18,019$16,449$15,006$13,682$10,059
10 years$17,572$15,883$14,341$12,936$11,658$8,234
11 years$15,812$14,140$12,625$11,258$10,026$6,796
12 years$14,346$12,691$11,205$9,875$8,689$5,646
13 years$13,107$11,469$10,011$8,718$7,577$4,716
14 years$12,045$10,425$8,995$7,739$6,642$3,956
15 years$11,126$9,524$8,121$6,902$5,848$3,331
16 years$10,323$8,738$7,363$6,180$5,168$2,812
17 years$9,615$8,047$6,700$5,552$4,583$2,380
18 years$8,986$7,436$6,116$5,004$4,075$2,018
19 years$8,424$6,891$5,599$4,521$3,632$1,715
20 years$7,919$6,404$5,139$4,095$3,244$1,459
21 years$7,463$5,965$4,726$3,716$2,903$1,242
22 years$7,048$5,568$4,356$3,379$2,602$1,059
23 years$6,670$5,208$4,022$3,077$2,336$904
24 years$6,325$4,879$3,720$2,807$2,099$772
25 years$6,007$4,579$3,445$2,563$1,889$660
26 years$5,714$4,303$3,195$2,344$1,702$564
27 years$5,444$4,050$2,967$2,145$1,534$482
28 years$5,193$3,816$2,758$1,966$1,384$413
29 years$4,960$3,600$2,567$1,802$1,250$353
30 years$4,743$3,400$2,391$1,654$1,130$302
31 years$4,540$3,214$2,229$1,519$1,021$259
32 years$4,350$3,041$2,080$1,396$924$222
33 years$4,173$2,880$1,942$1,284$836$190
34 years$4,006$2,730$1,814$1,181$757$163
35 years$3,849$2,589$1,696$1,087$686$140
36 years$3,701$2,457$1,587$1,002$621$120
37 years$3,561$2,334$1,485$923$563$103
38 years$3,429$2,218$1,391$851$510$88
39 years$3,304$2,109$1,303$784$463$75
40 years$3,185$2,007$1,221$723$420$65
41 years$3,073$1,910$1,145$667$381$55
42 years$2,966$1,819$1,074$616$346$47
43 years$2,865$1,733$1,008$569$314$41
44 years$2,768$1,652$946$525$285$35
45 years$2,676$1,576$889$485$258$30
46 years$2,589$1,503$835$448$235$26
47 years$2,505$1,434$784$414$213$22
48 years$2,425$1,369$737$382$194$19
49 years$2,348$1,308$692$353$176$16
50 years$2,275$1,249$651$327$160$14

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 $6,058 every year, while hoping to spend $25,448 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: 71/13/16 Blend
60$2,330,000$2,330,000$2,330,000$2,330,000
61$2,573,909$2,450,419$2,414,304$2,746,745
62$2,809,371$2,543,413$2,468,107$2,955,358
63$3,067,998$2,640,111$2,522,859$3,180,025
64$3,352,124$2,740,667$2,578,565$3,425,330
65$3,664,324$2,845,243$2,635,231$3,693,309
66$4,007,432$2,954,007$2,692,858$3,986,204
67$4,384,572$3,067,135$2,751,451$4,306,483
68$4,799,184$3,184,811$2,811,010$4,656,864
69$5,255,060$3,307,225$2,871,537$5,040,338
70$5,756,374$3,434,577$2,933,032$5,460,202
71$6,307,730$3,567,077$2,995,494$5,920,084
72$6,914,197$3,704,942$3,058,922$6,423,979
73$7,581,360$3,848,399$3,123,311$6,976,289
74$8,315,374$3,997,686$3,188,657$7,581,861
75$9,123,020$4,153,051$3,254,955$8,246,034
76$10,011,769$4,314,752$3,322,197$8,974,687
77$10,989,854$4,483,059$3,390,375$9,774,297
78$12,066,346$4,658,256$3,459,480$10,651,999
79$13,251,239$4,840,636$3,529,498$11,615,650
80$14,555,546$5,030,508$3,600,417$12,673,908
81$15,991,402$5,228,193$3,672,221$13,836,308
82$17,572,178$5,434,027$3,744,893$15,113,354
83$19,312,607$5,648,361$3,818,414$16,516,620
84$21,228,924$5,871,562$3,892,761$18,058,854
85$23,339,017$6,104,012$3,967,912$19,754,102
86$25,662,600$6,346,111$4,043,840$21,617,836
87$28,221,392$6,598,278$4,120,516$23,667,105
88$31,039,330$6,860,949$4,197,909$25,920,689
89$34,142,786$7,134,580$4,275,984$28,399,282
90$37,560,825$7,419,649$4,354,704$31,125,682
91$41,325,471$7,716,654$4,434,028$34,125,007
92$45,472,015$8,026,116$4,513,914$37,424,933
93$50,039,343$8,348,578$4,594,313$41,055,953
94$55,070,309$8,684,611$4,675,174$45,051,665
95$60,612,131$9,034,808$4,756,444$49,449,087
96$66,716,846$9,399,791$4,838,062$54,289,007
97$73,441,794$9,780,210$4,919,967$59,616,368
98$80,850,161$10,176,745$5,002,090$65,480,690
99$89,011,576$10,590,104$5,084,359$71,936,538
100$98,002,769$11,021,031$5,166,697$79,044,034