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%18.3%
1 years$193,235$191,514$189,834$188,195$186,595$180,333
2 years$95,661$93,879$92,153$90,479$88,855$82,608
3 years$63,140$61,351$59,629$57,970$56,373$50,337
4 years$46,883$45,100$43,395$41,764$40,206$34,427
5 years$37,132$35,359$33,676$32,079$30,564$25,058
6 years$30,633$28,873$27,215$25,654$24,184$18,955
7 years$25,992$24,247$22,616$21,092$19,668$14,716
8 years$22,514$20,785$19,180$17,693$16,317$11,636
9 years$19,810$18,097$16,520$15,071$13,741$9,328
10 years$17,647$15,951$14,402$12,991$11,708$7,554
11 years$15,880$14,201$12,680$11,306$10,069$6,167
12 years$14,408$12,746$11,253$9,917$8,726$5,067
13 years$13,163$11,518$10,054$8,755$7,609$4,184
14 years$12,097$10,470$9,033$7,772$6,670$3,469
15 years$11,174$9,564$8,156$6,931$5,873$2,885
16 years$10,367$8,775$7,394$6,206$5,190$2,406
17 years$9,656$8,082$6,729$5,576$4,602$2,011
18 years$9,024$7,468$6,142$5,025$4,092$1,684
19 years$8,460$6,921$5,623$4,541$3,647$1,413
20 years$7,953$6,431$5,161$4,112$3,258$1,186
21 years$7,495$5,991$4,747$3,732$2,915$997
22 years$7,078$5,592$4,375$3,394$2,613$839
23 years$6,699$5,230$4,039$3,091$2,346$706
24 years$6,352$4,900$3,736$2,819$2,108$595
25 years$6,033$4,599$3,460$2,574$1,897$502
26 years$5,739$4,322$3,209$2,354$1,709$423
27 years$5,467$4,067$2,980$2,154$1,541$357
28 years$5,215$3,833$2,770$1,974$1,390$301
29 years$4,981$3,616$2,578$1,810$1,255$254
30 years$4,763$3,415$2,401$1,661$1,134$215
31 years$4,560$3,228$2,239$1,526$1,026$181
32 years$4,369$3,054$2,089$1,402$928$153
33 years$4,191$2,893$1,950$1,289$840$129
34 years$4,023$2,741$1,822$1,186$760$109
35 years$3,865$2,600$1,704$1,092$688$92
36 years$3,716$2,468$1,594$1,006$624$78
37 years$3,576$2,344$1,492$927$565$66
38 years$3,444$2,228$1,397$854$513$56
39 years$3,318$2,118$1,309$788$465$47
40 years$3,199$2,015$1,227$726$422$40
41 years$3,086$1,918$1,150$670$382$34
42 years$2,979$1,827$1,079$619$347$28
43 years$2,877$1,741$1,012$571$315$24
44 years$2,780$1,659$950$527$286$20
45 years$2,688$1,582$892$487$260$17
46 years$2,600$1,510$838$450$236$15
47 years$2,516$1,441$787$416$214$12
48 years$2,435$1,375$740$384$194$10
49 years$2,358$1,313$695$355$177$9
50 years$2,285$1,254$654$328$160$7

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 $4,627 every year, while hoping to spend $39,379 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: 38/36/26 Blend
60$2,340,000$2,340,000$2,340,000$2,340,000
61$2,583,453$2,459,433$2,423,163$2,661,444
62$2,805,066$2,538,046$2,462,440$2,797,527
63$3,047,964$2,619,191$2,501,713$2,940,526
64$3,314,276$2,702,952$2,540,940$3,094,308
65$3,606,348$2,789,412$2,580,077$3,259,874
66$3,926,762$2,878,660$2,619,077$3,438,329
67$4,278,365$2,970,787$2,657,889$3,630,883
68$4,664,290$3,065,888$2,696,460$3,838,872
69$5,087,990$3,164,058$2,734,733$4,063,761
70$5,553,267$3,265,399$2,772,649$4,307,166
71$6,064,310$3,370,014$2,810,143$4,570,863
72$6,625,736$3,478,011$2,847,149$4,856,807
73$7,242,627$3,589,500$2,883,594$5,167,149
74$7,920,585$3,704,595$2,919,405$5,504,259
75$8,665,780$3,823,415$2,954,499$5,870,743
76$9,485,009$3,946,082$2,988,795$6,269,471
77$10,385,762$4,072,722$3,022,202$6,703,604
78$11,376,290$4,203,466$3,054,626$7,176,622
79$12,465,684$4,338,449$3,085,969$7,692,354
80$13,663,961$4,477,809$3,116,125$8,255,022
81$14,982,155$4,621,692$3,144,986$8,869,270
82$16,432,426$4,770,246$3,172,434$9,540,216
83$18,028,170$4,923,625$3,198,347$10,273,495
84$19,784,149$5,081,988$3,222,597$11,075,314
85$21,716,626$5,245,500$3,245,048$11,952,509
86$23,843,523$5,414,330$3,265,558$12,912,612
87$26,184,585$5,588,655$3,283,977$13,963,917
88$28,761,569$5,768,655$3,300,147$15,115,562
89$31,598,450$5,954,520$3,313,903$16,377,613
90$34,721,643$6,146,443$3,325,070$17,761,159
91$38,160,257$6,344,625$3,333,466$19,278,415
92$41,946,365$6,549,274$3,338,899$20,942,840
93$46,115,310$6,760,604$3,341,167$22,769,262
94$50,706,035$6,978,837$3,340,060$24,774,015
95$55,761,454$7,204,203$3,335,355$26,975,096
96$61,328,852$7,436,939$3,326,819$29,392,336
97$67,460,337$7,677,290$3,314,209$32,047,581
98$74,213,325$7,925,511$3,297,269$34,964,903
99$81,651,087$8,181,864$3,275,730$38,170,824
100$89,843,342$8,446,620$3,249,312$41,694,567