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%16%
1 years$194,061$192,332$190,646$189,000$187,392$182,788
2 years$96,070$94,280$92,546$90,865$89,234$84,624
3 years$63,410$61,613$59,884$58,218$56,614$52,142
4 years$47,084$45,292$43,580$41,943$40,378$36,078
5 years$37,290$35,510$33,820$32,216$30,694$26,579
6 years$30,764$28,996$27,331$25,764$24,287$20,361
7 years$26,103$24,351$22,713$21,182$19,752$16,015
8 years$22,610$20,873$19,262$17,769$16,386$12,836
9 years$19,894$18,174$16,590$15,135$13,800$10,434
10 years$17,723$16,020$14,464$13,047$11,758$8,573
11 years$15,948$14,261$12,734$11,354$10,112$7,103
12 years$14,469$12,800$11,301$9,959$8,763$5,925
13 years$13,219$11,568$10,097$8,793$7,642$4,969
14 years$12,149$10,515$9,072$7,805$6,699$4,185
15 years$11,222$9,605$8,191$6,961$5,898$3,538
16 years$10,411$8,813$7,426$6,233$5,213$3,000
17 years$9,697$8,116$6,757$5,600$4,622$2,550
18 years$9,063$7,500$6,169$5,047$4,110$2,172
19 years$8,496$6,951$5,647$4,560$3,663$1,854
20 years$7,987$6,459$5,183$4,130$3,272$1,584
21 years$7,527$6,016$4,767$3,748$2,928$1,356
22 years$7,109$5,616$4,394$3,408$2,624$1,161
23 years$6,728$5,252$4,057$3,104$2,356$996
24 years$6,379$4,921$3,752$2,831$2,117$854
25 years$6,059$4,618$3,475$2,585$1,905$733
26 years$5,763$4,340$3,223$2,364$1,716$630
27 years$5,491$4,085$2,993$2,164$1,547$542
28 years$5,238$3,849$2,782$1,982$1,396$466
29 years$5,003$3,631$2,589$1,818$1,261$401
30 years$4,784$3,429$2,411$1,668$1,139$345
31 years$4,579$3,242$2,248$1,532$1,030$297
32 years$4,388$3,067$2,098$1,408$932$255
33 years$4,209$2,905$1,958$1,295$843$220
34 years$4,040$2,753$1,830$1,191$763$189
35 years$3,882$2,611$1,711$1,097$691$163
36 years$3,732$2,479$1,600$1,010$626$140
37 years$3,591$2,354$1,498$931$568$121
38 years$3,458$2,237$1,403$858$515$104
39 years$3,332$2,127$1,314$791$467$90
40 years$3,213$2,024$1,232$730$423$77
41 years$3,100$1,927$1,155$673$384$67
42 years$2,992$1,835$1,084$621$349$58
43 years$2,890$1,748$1,017$573$316$50
44 years$2,792$1,666$954$529$287$43
45 years$2,699$1,589$896$489$261$37
46 years$2,611$1,516$842$452$237$32
47 years$2,526$1,447$791$417$215$27
48 years$2,446$1,381$743$386$195$24
49 years$2,368$1,319$698$356$177$20
50 years$2,294$1,260$657$329$161$18

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 $5,811 every year, while hoping to spend $43,720 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: 56/15/29 Blend
60$2,350,000$2,350,000$2,350,000$2,350,000
61$2,595,694$2,471,144$2,434,719$2,719,966
62$2,813,937$2,545,712$2,469,764$2,880,781
63$3,052,976$2,622,469$2,504,518$3,050,899
64$3,314,885$2,701,476$2,538,925$3,235,385
65$3,601,949$2,782,794$2,572,926$3,435,639
66$3,916,686$2,866,490$2,606,457$3,653,209
67$4,261,868$2,952,627$2,639,453$3,889,793
68$4,640,546$3,041,274$2,671,843$4,147,266
69$5,056,085$3,132,500$2,703,553$4,427,693
70$5,512,189$3,226,375$2,734,504$4,733,347
71$6,012,937$3,322,972$2,764,615$5,066,732
72$6,562,824$3,422,365$2,793,797$5,430,608
73$7,166,802$3,524,631$2,821,959$5,828,015
74$7,830,324$3,629,846$2,849,003$6,262,301
75$8,559,399$3,738,091$2,874,827$6,737,158
76$9,360,648$3,849,447$2,899,323$7,256,651
77$10,241,361$3,963,997$2,922,378$7,825,259
78$11,209,574$4,081,827$2,943,872$8,447,919
79$12,274,138$4,203,024$2,963,679$9,130,068
80$13,444,805$4,327,677$2,981,667$9,877,699
81$14,732,319$4,455,877$2,997,697$10,697,417
82$16,148,518$4,587,718$3,011,622$11,596,496
83$17,706,445$4,723,294$3,023,290$12,582,956
84$19,420,470$4,862,703$3,032,537$13,665,631
85$21,306,426$5,006,043$3,039,195$14,854,258
86$23,381,760$5,153,418$3,043,087$16,159,565
87$25,665,693$5,304,929$3,044,023$17,593,375
88$28,179,405$5,460,682$3,041,810$19,168,718
89$30,946,234$5,620,785$3,036,240$20,899,950
90$33,991,895$5,785,348$3,027,099$22,802,893
91$37,344,720$5,954,483$3,014,159$24,894,983
92$41,035,932$6,128,303$2,997,184$27,195,434
93$45,099,933$6,306,925$2,975,925$29,725,420
94$49,574,629$6,490,467$2,950,122$32,508,276
95$54,501,791$6,679,050$2,919,500$35,569,715
96$59,927,445$6,872,795$2,883,776$38,938,076
97$65,902,310$7,071,828$2,842,648$42,644,588
98$72,482,273$7,276,275$2,795,804$46,723,666
99$79,728,917$7,486,264$2,742,915$51,213,237
100$87,710,102$7,701,927$2,683,638$56,155,097