Can I retire at age 61 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$195,712$193,969$192,268$190,608$188,987$183,231
2 years$96,887$95,083$93,334$91,639$89,994$84,244
3 years$63,950$62,138$60,393$58,714$57,096$51,533
4 years$47,484$45,678$43,951$42,300$40,721$35,387
5 years$37,608$35,812$34,108$32,490$30,956$25,866
6 years$31,025$29,243$27,564$25,983$24,494$19,652
7 years$26,326$24,558$22,906$21,362$19,920$15,326
8 years$22,802$21,051$19,426$17,920$16,526$12,177
9 years$20,064$18,329$16,732$15,264$13,917$9,809
10 years$17,874$16,156$14,587$13,158$11,858$7,984
11 years$16,083$14,383$12,842$11,451$10,198$6,552
12 years$14,592$12,909$11,397$10,044$8,838$5,411
13 years$13,332$11,666$10,183$8,867$7,707$4,493
14 years$12,252$10,604$9,149$7,872$6,756$3,745
15 years$11,317$9,687$8,260$7,020$5,948$3,133
16 years$10,500$8,888$7,489$6,286$5,257$2,628
17 years$9,780$8,185$6,815$5,648$4,661$2,210
18 years$9,140$7,564$6,221$5,090$4,145$1,862
19 years$8,569$7,010$5,695$4,599$3,694$1,571
20 years$8,055$6,514$5,227$4,165$3,300$1,327
21 years$7,591$6,067$4,808$3,780$2,953$1,122
22 years$7,169$5,664$4,431$3,437$2,647$950
23 years$6,785$5,297$4,091$3,130$2,376$805
24 years$6,433$4,963$3,784$2,855$2,136$683
25 years$6,110$4,658$3,504$2,607$1,922$579
26 years$5,813$4,377$3,250$2,384$1,731$492
27 years$5,537$4,120$3,018$2,182$1,561$417
28 years$5,282$3,882$2,806$1,999$1,408$355
29 years$5,045$3,662$2,611$1,833$1,272$301
30 years$4,824$3,458$2,432$1,683$1,149$256
31 years$4,618$3,269$2,267$1,545$1,039$218
32 years$4,425$3,094$2,115$1,420$940$185
33 years$4,244$2,930$1,975$1,306$850$157
34 years$4,074$2,777$1,845$1,202$770$134
35 years$3,915$2,634$1,725$1,106$697$114
36 years$3,764$2,500$1,614$1,019$632$97
37 years$3,622$2,374$1,511$939$573$82
38 years$3,488$2,256$1,415$865$519$70
39 years$3,361$2,145$1,325$798$471$60
40 years$3,240$2,041$1,242$736$427$51
41 years$3,126$1,943$1,165$679$387$43
42 years$3,017$1,851$1,093$626$352$37
43 years$2,914$1,763$1,025$578$319$31
44 years$2,816$1,681$963$534$290$27
45 years$2,722$1,603$904$493$263$23
46 years$2,633$1,529$849$456$239$19
47 years$2,548$1,459$797$421$217$16
48 years$2,466$1,393$749$389$197$14
49 years$2,388$1,330$704$359$179$12
50 years$2,314$1,271$662$332$162$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,370,000, adding $6,667 every year, while hoping to spend $26,364 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: 89/6/5 Blend
60$2,370,000$2,370,000$2,370,000$2,370,000
61$2,618,617$2,493,007$2,456,272$2,851,469
62$2,857,665$2,587,113$2,510,506$3,097,980
63$3,120,212$2,684,947$2,565,673$3,364,573
64$3,408,627$2,786,663$2,621,777$3,656,834
65$3,725,521$2,892,424$2,678,820$3,977,331
66$4,073,768$3,002,396$2,736,805$4,328,895
67$4,456,536$3,116,757$2,795,731$4,714,645
68$4,877,315$3,235,690$2,855,600$5,138,013
69$5,339,948$3,359,386$2,916,410$5,602,785
70$5,848,673$3,488,046$2,978,160$6,113,125
71$6,408,154$3,621,877$3,040,845$6,673,624
72$7,023,535$3,761,099$3,104,463$7,289,338
73$7,700,480$3,905,937$3,169,006$7,965,839
74$8,445,230$4,056,629$3,234,469$8,709,261
75$9,264,663$4,213,423$3,300,843$9,526,365
76$10,166,355$4,376,577$3,368,118$10,424,598
77$11,158,657$4,546,363$3,436,283$11,412,166
78$12,250,765$4,723,060$3,505,324$12,498,108
79$13,452,818$4,906,965$3,575,227$13,692,383
80$14,775,983$5,098,383$3,645,975$15,005,963
81$16,232,566$5,297,637$3,717,548$16,450,938
82$17,836,128$5,505,062$3,789,927$18,040,627
83$19,601,611$5,721,007$3,863,086$19,789,706
84$21,545,478$5,945,839$3,937,002$21,714,344
85$23,685,871$6,179,940$4,011,646$23,832,357
86$26,042,781$6,423,708$4,086,988$26,163,375
87$28,638,236$6,677,561$4,162,993$28,729,028
88$31,496,508$6,941,934$4,239,626$31,553,147
89$34,644,345$7,217,282$4,316,847$34,661,992
90$38,111,221$7,504,081$4,394,613$38,084,498
91$41,929,612$7,802,827$4,472,879$41,852,548
92$46,135,306$8,114,040$4,551,595$46,001,272
93$50,767,741$8,438,262$4,630,707$50,569,380
94$55,870,374$8,776,059$4,710,158$55,599,527
95$61,491,091$9,128,025$4,789,887$61,138,714
96$67,682,662$9,494,778$4,869,829$67,238,732
97$74,503,237$9,876,966$4,949,912$73,956,651
98$82,016,895$10,275,265$5,030,061$81,355,356
99$90,294,247$10,690,381$5,110,197$89,504,143
100$99,413,105$11,123,055$5,190,233$98,479,371