Can I retire at age 61 with 2,350,000?

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 $2,350,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$194,061$192,332$190,646$189,000$187,392$183,384
2 years$96,070$94,280$92,546$90,865$89,234$85,216
3 years$63,410$61,613$59,884$58,218$56,614$52,710
4 years$47,084$45,292$43,580$41,943$40,378$36,619
5 years$37,290$35,510$33,820$32,216$30,694$27,091
6 years$30,764$28,996$27,331$25,764$24,287$20,844
7 years$26,103$24,351$22,713$21,182$19,752$16,469
8 years$22,610$20,873$19,262$17,769$16,386$13,262
9 years$19,894$18,174$16,590$15,135$13,800$10,832
10 years$17,723$16,020$14,464$13,047$11,758$8,944
11 years$15,948$14,261$12,734$11,354$10,112$7,449
12 years$14,469$12,800$11,301$9,959$8,763$6,246
13 years$13,219$11,568$10,097$8,793$7,642$5,266
14 years$12,149$10,515$9,072$7,805$6,699$4,460
15 years$11,222$9,605$8,191$6,961$5,898$3,791
16 years$10,411$8,813$7,426$6,233$5,213$3,233
17 years$9,697$8,116$6,757$5,600$4,622$2,764
18 years$9,063$7,500$6,169$5,047$4,110$2,369
19 years$8,496$6,951$5,647$4,560$3,663$2,033
20 years$7,987$6,459$5,183$4,130$3,272$1,748
21 years$7,527$6,016$4,767$3,748$2,928$1,505
22 years$7,109$5,616$4,394$3,408$2,624$1,297
23 years$6,728$5,252$4,057$3,104$2,356$1,119
24 years$6,379$4,921$3,752$2,831$2,117$966
25 years$6,059$4,618$3,475$2,585$1,905$835
26 years$5,763$4,340$3,223$2,364$1,716$722
27 years$5,491$4,085$2,993$2,164$1,547$625
28 years$5,238$3,849$2,782$1,982$1,396$541
29 years$5,003$3,631$2,589$1,818$1,261$468
30 years$4,784$3,429$2,411$1,668$1,139$405
31 years$4,579$3,242$2,248$1,532$1,030$351
32 years$4,388$3,067$2,098$1,408$932$304
33 years$4,209$2,905$1,958$1,295$843$264
34 years$4,040$2,753$1,830$1,191$763$229
35 years$3,882$2,611$1,711$1,097$691$198
36 years$3,732$2,479$1,600$1,010$626$172
37 years$3,591$2,354$1,498$931$568$149
38 years$3,458$2,237$1,403$858$515$129
39 years$3,332$2,127$1,314$791$467$112
40 years$3,213$2,024$1,232$730$423$97
41 years$3,100$1,927$1,155$673$384$85
42 years$2,992$1,835$1,084$621$349$73
43 years$2,890$1,748$1,017$573$316$64
44 years$2,792$1,666$954$529$287$55
45 years$2,699$1,589$896$489$261$48
46 years$2,611$1,516$842$452$237$42
47 years$2,526$1,447$791$417$215$36
48 years$2,446$1,381$743$386$195$31
49 years$2,368$1,319$698$356$177$27
50 years$2,294$1,260$657$329$161$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,350,000, adding $5,320 every year, while hoping to spend $40,797 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: 54/28/18 Blend
60$2,350,000$2,350,000$2,350,000$2,350,000
61$2,595,188$2,470,638$2,434,213$2,722,446
62$2,816,489$2,548,291$2,472,351$2,887,700
63$3,058,996$2,628,382$2,510,400$3,062,716
64$3,324,828$2,710,988$2,548,313$3,252,329
65$3,616,320$2,796,186$2,586,041$3,457,942
66$3,936,044$2,884,058$2,623,532$3,681,099
67$4,286,831$2,974,688$2,660,732$3,923,502
68$4,671,803$3,068,162$2,697,581$4,187,020
69$5,094,394$3,164,569$2,734,017$4,473,714
70$5,558,391$3,264,002$2,769,975$4,785,851
71$6,067,963$3,366,554$2,805,385$5,125,927
72$6,627,703$3,472,324$2,840,174$5,496,692
73$7,242,673$3,581,411$2,874,264$5,901,170
74$7,918,447$3,693,921$2,907,573$6,342,696
75$8,661,165$3,809,960$2,940,013$6,824,939
76$9,477,594$3,929,639$2,971,494$7,351,942
77$10,375,189$4,053,071$3,001,919$7,928,155
78$11,362,160$4,180,374$3,031,186$8,558,481
79$12,447,557$4,311,669$3,059,187$9,248,320
80$13,641,348$4,447,081$3,085,810$10,003,620
81$14,954,516$4,586,738$3,110,935$10,830,933
82$16,399,162$4,730,774$3,134,437$11,737,476
83$17,988,620$4,879,325$3,156,184$12,731,198
84$19,737,580$5,032,532$3,176,036$13,820,859
85$21,662,228$5,190,542$3,193,849$15,016,105
86$23,780,400$5,353,503$3,209,467$16,327,566
87$26,111,747$5,521,571$3,222,731$17,766,952
88$28,677,923$5,694,906$3,233,470$19,347,164
89$31,502,786$5,873,671$3,241,506$21,082,415
90$34,612,627$6,058,037$3,246,653$22,988,364
91$38,036,412$6,248,178$3,248,713$25,082,266
92$41,806,063$6,444,275$3,247,482$27,383,129
93$45,956,750$6,646,514$3,242,742$29,911,900
94$50,527,232$6,855,087$3,234,267$32,691,655
95$55,560,214$7,070,190$3,221,819$35,747,823
96$61,102,755$7,292,029$3,205,149$39,108,420
97$67,206,711$7,520,813$3,183,996$42,804,319
98$73,929,221$7,756,758$3,158,086$46,869,535
99$81,333,251$8,000,089$3,127,131$51,341,550
100$89,488,185$8,251,035$3,090,832$56,261,666