Can I retire at age 61 with 2,360,000?

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 $2,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$194,887$193,151$191,457$189,804$188,190$182,605
2 years$96,479$94,682$92,940$91,252$89,614$84,033
3 years$63,680$61,876$60,139$58,466$56,855$51,453
4 years$47,284$45,485$43,765$42,121$40,549$35,369
5 years$37,449$35,661$33,964$32,353$30,825$25,879
6 years$30,895$29,120$27,448$25,873$24,391$19,684
7 years$26,215$24,455$22,809$21,272$19,836$15,369
8 years$22,706$20,962$19,344$17,844$16,456$12,225
9 years$19,979$18,251$16,661$15,199$13,858$9,859
10 years$17,798$16,088$14,525$13,102$11,808$8,035
11 years$16,015$14,322$12,788$11,403$10,155$6,602
12 years$14,531$12,855$11,349$10,002$8,800$5,460
13 years$13,275$11,617$10,140$8,830$7,674$4,539
14 years$12,200$10,559$9,110$7,838$6,727$3,790
15 years$11,269$9,646$8,226$6,990$5,923$3,174
16 years$10,456$8,850$7,458$6,259$5,235$2,667
17 years$9,738$8,151$6,786$5,624$4,642$2,246
18 years$9,102$7,532$6,195$5,068$4,127$1,894
19 years$8,532$6,980$5,671$4,580$3,679$1,601
20 years$8,021$6,486$5,205$4,148$3,286$1,355
21 years$7,559$6,042$4,787$3,764$2,940$1,148
22 years$7,139$5,640$4,412$3,423$2,636$973
23 years$6,756$5,275$4,074$3,117$2,366$826
24 years$6,406$4,942$3,768$2,843$2,127$701
25 years$6,084$4,638$3,490$2,596$1,914$596
26 years$5,788$4,359$3,236$2,374$1,724$507
27 years$5,514$4,102$3,005$2,173$1,554$431
28 years$5,260$3,866$2,794$1,991$1,402$367
29 years$5,024$3,647$2,600$1,826$1,266$312
30 years$4,804$3,444$2,422$1,675$1,144$266
31 years$4,599$3,256$2,258$1,539$1,034$226
32 years$4,407$3,080$2,106$1,414$936$193
33 years$4,226$2,917$1,967$1,300$847$164
34 years$4,057$2,765$1,838$1,197$767$140
35 years$3,898$2,622$1,718$1,101$694$119
36 years$3,748$2,489$1,607$1,014$629$101
37 years$3,607$2,364$1,504$935$570$86
38 years$3,473$2,247$1,409$862$517$74
39 years$3,346$2,136$1,320$794$469$63
40 years$3,226$2,033$1,237$733$425$54
41 years$3,113$1,935$1,160$676$386$46
42 years$3,005$1,843$1,088$624$350$39
43 years$2,902$1,756$1,021$576$318$33
44 years$2,804$1,674$958$532$288$28
45 years$2,711$1,596$900$491$262$24
46 years$2,622$1,522$845$454$238$21
47 years$2,537$1,453$794$419$216$17
48 years$2,456$1,387$746$387$196$15
49 years$2,378$1,324$701$358$178$13
50 years$2,304$1,265$659$331$162$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,360,000, adding $5,465 every year, while hoping to spend $58,274 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: 58/36/6 Blend
60$2,360,000$2,360,000$2,360,000$2,360,000
61$2,606,357$2,481,277$2,444,697$2,754,060
62$2,810,202$2,540,857$2,464,591$2,913,414
63$3,032,887$2,601,402$2,483,199$3,079,917
64$3,276,271$2,662,900$2,500,415$3,259,929
65$3,542,401$2,725,334$2,516,130$3,454,744
66$3,833,534$2,788,683$2,530,228$3,665,791
67$4,152,151$2,852,924$2,542,588$3,894,639
68$4,500,986$2,918,034$2,553,080$4,143,019
69$4,883,050$2,983,980$2,561,571$4,412,835
70$5,301,658$3,050,732$2,567,921$4,706,185
71$5,760,460$3,118,252$2,571,980$5,025,380
72$6,263,479$3,186,497$2,573,592$5,372,966
73$6,815,142$3,255,424$2,572,596$5,751,744
74$7,420,327$3,324,981$2,568,819$6,164,804
75$8,084,408$3,395,112$2,562,082$6,615,548
76$8,813,302$3,465,757$2,552,196$7,107,724
77$9,613,528$3,536,849$2,538,964$7,645,461
78$10,492,268$3,608,314$2,522,179$8,233,308
79$11,457,430$3,680,073$2,501,623$8,876,278
80$12,517,731$3,752,039$2,477,070$9,579,895
81$13,682,768$3,824,118$2,448,281$10,350,244
82$14,963,119$3,896,208$2,415,007$11,194,032
83$16,370,434$3,968,198$2,376,986$12,118,646
84$17,917,548$4,039,971$2,333,946$13,132,230
85$19,618,605$4,111,396$2,285,599$14,243,757
86$21,489,183$4,182,335$2,231,648$15,463,114
87$23,546,449$4,252,639$2,171,777$16,801,197
88$25,809,316$4,322,146$2,105,660$18,270,014
89$28,298,620$4,390,685$2,032,954$19,882,797
90$31,037,321$4,458,071$1,953,299$21,654,129
91$34,050,715$4,524,104$1,866,322$23,600,080
92$37,366,674$4,588,571$1,771,630$25,738,360
93$41,015,909$4,651,245$1,668,814$28,088,488
94$45,032,257$4,711,882$1,557,445$30,671,973
95$49,453,004$4,770,221$1,437,076$33,512,520
96$54,319,232$4,825,983$1,307,240$36,636,253
97$59,676,209$4,878,872$1,167,448$40,071,965
98$65,573,815$4,928,569$1,017,190$43,851,385
99$72,067,012$4,974,736$855,933$48,009,481
100$79,216,361$5,017,013$683,121$52,584,794