Can I retire at age 61 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$193,235$191,514$189,834$188,195$186,595$184,034
2 years$95,661$93,879$92,153$90,479$88,855$86,280
3 years$63,140$61,351$59,629$57,970$56,373$53,863
4 years$46,883$45,100$43,395$41,764$40,206$37,781
5 years$37,132$35,359$33,676$32,079$30,564$28,231
6 years$30,633$28,873$27,215$25,654$24,184$21,945
7 years$25,992$24,247$22,616$21,092$19,668$17,525
8 years$22,514$20,785$19,180$17,693$16,317$14,268
9 years$19,810$18,097$16,520$15,071$13,741$11,787
10 years$17,647$15,951$14,402$12,991$11,708$9,847
11 years$15,880$14,201$12,680$11,306$10,069$8,299
12 years$14,408$12,746$11,253$9,917$8,726$7,044
13 years$13,163$11,518$10,054$8,755$7,609$6,014
14 years$12,097$10,470$9,033$7,772$6,670$5,159
15 years$11,174$9,564$8,156$6,931$5,873$4,444
16 years$10,367$8,775$7,394$6,206$5,190$3,840
17 years$9,656$8,082$6,729$5,576$4,602$3,328
18 years$9,024$7,468$6,142$5,025$4,092$2,891
19 years$8,460$6,921$5,623$4,541$3,647$2,517
20 years$7,953$6,431$5,161$4,112$3,258$2,195
21 years$7,495$5,991$4,747$3,732$2,915$1,917
22 years$7,078$5,592$4,375$3,394$2,613$1,677
23 years$6,699$5,230$4,039$3,091$2,346$1,468
24 years$6,352$4,900$3,736$2,819$2,108$1,287
25 years$6,033$4,599$3,460$2,574$1,897$1,129
26 years$5,739$4,322$3,209$2,354$1,709$991
27 years$5,467$4,067$2,980$2,154$1,541$870
28 years$5,215$3,833$2,770$1,974$1,390$765
29 years$4,981$3,616$2,578$1,810$1,255$673
30 years$4,763$3,415$2,401$1,661$1,134$592
31 years$4,560$3,228$2,239$1,526$1,026$521
32 years$4,369$3,054$2,089$1,402$928$459
33 years$4,191$2,893$1,950$1,289$840$404
34 years$4,023$2,741$1,822$1,186$760$356
35 years$3,865$2,600$1,704$1,092$688$313
36 years$3,716$2,468$1,594$1,006$624$276
37 years$3,576$2,344$1,492$927$565$244
38 years$3,444$2,228$1,397$854$513$215
39 years$3,318$2,118$1,309$788$465$189
40 years$3,199$2,015$1,227$726$422$167
41 years$3,086$1,918$1,150$670$382$147
42 years$2,979$1,827$1,079$619$347$130
43 years$2,877$1,741$1,012$571$315$115
44 years$2,780$1,659$950$527$286$101
45 years$2,688$1,582$892$487$260$89
46 years$2,600$1,510$838$450$236$79
47 years$2,516$1,441$787$416$214$69
48 years$2,435$1,375$740$384$194$61
49 years$2,358$1,313$695$355$177$54
50 years$2,285$1,254$654$328$160$48

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,340,000, adding $2,134 every year, while hoping to spend $24,956 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: 46/36/18 Blend
60$2,340,000$2,340,000$2,340,000$2,340,000
61$2,580,881$2,456,861$2,420,591$2,686,257
62$2,817,578$2,550,694$2,475,128$2,853,853
63$3,077,582$2,648,289$2,530,655$3,032,899
64$3,363,243$2,749,803$2,587,180$3,226,618
65$3,677,151$2,855,401$2,644,709$3,436,388
66$4,022,161$2,965,256$2,703,246$3,663,720
67$4,401,414$3,079,546$2,762,798$3,910,277
68$4,818,375$3,198,460$2,823,368$4,177,886
69$5,276,858$3,322,194$2,884,960$4,468,556
70$5,781,067$3,450,951$2,947,575$4,784,495
71$6,335,633$3,584,945$3,011,217$5,128,132
72$6,945,660$3,724,399$3,075,884$5,502,139
73$7,616,768$3,869,546$3,141,578$5,909,452
74$8,355,154$4,020,629$3,208,296$6,353,304
75$9,167,641$4,177,901$3,276,035$6,837,249
76$10,061,750$4,341,628$3,344,792$7,365,199
77$11,045,766$4,512,086$3,414,560$7,941,459
78$12,128,821$4,689,564$3,485,335$8,570,765
79$13,320,974$4,874,366$3,557,106$9,258,327
80$14,633,308$5,066,805$3,629,865$10,009,884
81$16,078,040$5,267,212$3,703,599$10,831,749
82$17,668,626$5,475,932$3,778,296$11,730,872
83$19,419,896$5,693,323$3,853,939$12,714,904
84$21,348,192$5,919,763$3,930,513$13,792,266
85$23,471,519$6,155,643$4,007,996$14,972,232
86$25,809,719$6,401,374$4,086,369$16,265,011
87$28,384,655$6,657,385$4,165,606$17,681,842
88$31,220,417$6,924,125$4,245,682$19,235,103
89$34,343,554$7,202,062$4,326,567$20,938,423
90$37,783,319$7,491,685$4,408,229$22,806,809
91$41,571,946$7,793,506$4,490,634$24,856,791
92$45,744,958$8,108,061$4,573,743$27,106,568
93$50,341,495$8,435,908$4,657,515$29,576,187
94$55,404,692$8,777,632$4,741,906$32,287,725
95$60,982,079$9,133,844$4,826,868$35,265,498
96$67,126,031$9,505,182$4,912,348$38,536,289
97$73,894,265$9,892,315$4,998,291$42,129,597
98$81,350,383$10,295,942$5,084,637$46,077,915
99$89,564,471$10,716,791$5,171,321$50,417,036
100$98,613,760$11,155,627$5,258,273$55,186,386