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%16%
1 years$195,712$193,969$192,268$190,608$188,987$184,344
2 years$96,887$95,083$93,334$91,639$89,994$85,344
3 years$63,950$62,138$60,393$58,714$57,096$52,585
4 years$47,484$45,678$43,951$42,300$40,721$36,385
5 years$37,608$35,812$34,108$32,490$30,956$26,805
6 years$31,025$29,243$27,564$25,983$24,494$20,534
7 years$26,326$24,558$22,906$21,362$19,920$16,151
8 years$22,802$21,051$19,426$17,920$16,526$12,945
9 years$20,064$18,329$16,732$15,264$13,917$10,523
10 years$17,874$16,156$14,587$13,158$11,858$8,646
11 years$16,083$14,383$12,842$11,451$10,198$7,164
12 years$14,592$12,909$11,397$10,044$8,838$5,975
13 years$13,332$11,666$10,183$8,867$7,707$5,011
14 years$12,252$10,604$9,149$7,872$6,756$4,221
15 years$11,317$9,687$8,260$7,020$5,948$3,568
16 years$10,500$8,888$7,489$6,286$5,257$3,026
17 years$9,780$8,185$6,815$5,648$4,661$2,572
18 years$9,140$7,564$6,221$5,090$4,145$2,191
19 years$8,569$7,010$5,695$4,599$3,694$1,870
20 years$8,055$6,514$5,227$4,165$3,300$1,598
21 years$7,591$6,067$4,808$3,780$2,953$1,367
22 years$7,169$5,664$4,431$3,437$2,647$1,171
23 years$6,785$5,297$4,091$3,130$2,376$1,004
24 years$6,433$4,963$3,784$2,855$2,136$862
25 years$6,110$4,658$3,504$2,607$1,922$740
26 years$5,813$4,377$3,250$2,384$1,731$635
27 years$5,537$4,120$3,018$2,182$1,561$546
28 years$5,282$3,882$2,806$1,999$1,408$470
29 years$5,045$3,662$2,611$1,833$1,272$404
30 years$4,824$3,458$2,432$1,683$1,149$348
31 years$4,618$3,269$2,267$1,545$1,039$299
32 years$4,425$3,094$2,115$1,420$940$258
33 years$4,244$2,930$1,975$1,306$850$222
34 years$4,074$2,777$1,845$1,202$770$191
35 years$3,915$2,634$1,725$1,106$697$164
36 years$3,764$2,500$1,614$1,019$632$142
37 years$3,622$2,374$1,511$939$573$122
38 years$3,488$2,256$1,415$865$519$105
39 years$3,361$2,145$1,325$798$471$91
40 years$3,240$2,041$1,242$736$427$78
41 years$3,126$1,943$1,165$679$387$67
42 years$3,017$1,851$1,093$626$352$58
43 years$2,914$1,763$1,025$578$319$50
44 years$2,816$1,681$963$534$290$43
45 years$2,722$1,603$904$493$263$37
46 years$2,633$1,529$849$456$239$32
47 years$2,548$1,459$797$421$217$28
48 years$2,466$1,393$749$389$197$24
49 years$2,388$1,330$704$359$179$20
50 years$2,314$1,271$662$332$162$18

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 $6,560 every year, while hoping to spend $49,111 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: 79/12/9 Blend
60$2,370,000$2,370,000$2,370,000$2,370,000
61$2,618,507$2,492,897$2,456,162$2,821,280
62$2,833,341$2,562,795$2,486,189$3,025,183
63$3,068,442$2,634,472$2,515,577$3,241,760
64$3,325,825$2,707,964$2,544,251$3,477,903
65$3,607,710$2,783,305$2,572,135$3,735,541
66$3,916,541$2,860,532$2,599,146$4,016,799
67$4,255,010$2,939,679$2,625,199$4,324,016
68$4,626,080$3,020,782$2,650,202$4,659,769
69$5,033,017$3,103,877$2,674,060$5,026,897
70$5,479,416$3,188,999$2,696,673$5,428,524
71$5,969,238$3,276,181$2,717,933$5,868,094
72$6,506,846$3,365,460$2,737,730$6,349,400
73$7,097,046$3,456,869$2,755,945$6,876,618
74$7,745,131$3,550,442$2,772,455$7,454,349
75$8,456,933$3,646,212$2,787,131$8,087,664
76$9,238,875$3,744,211$2,799,834$8,782,145
77$10,098,034$3,844,471$2,810,423$9,543,944
78$11,042,206$3,947,023$2,818,745$10,379,840
79$12,079,980$4,051,896$2,824,642$11,297,297
80$13,220,819$4,159,120$2,827,948$12,304,543
81$14,475,146$4,268,721$2,828,488$13,410,639
82$15,854,448$4,380,725$2,826,079$14,625,572
83$17,371,378$4,495,156$2,820,529$15,960,343
84$19,039,877$4,612,038$2,811,636$17,427,074
85$20,875,307$4,731,390$2,799,188$19,039,120
86$22,894,592$4,853,232$2,782,965$20,811,198
87$25,116,379$4,977,579$2,762,732$22,759,522
88$27,561,214$5,104,445$2,738,249$24,901,959
89$30,251,736$5,233,841$2,709,258$27,258,196
90$33,212,888$5,365,774$2,675,493$29,849,923
91$36,472,156$5,500,250$2,636,675$32,701,044
92$40,059,822$5,637,269$2,592,510$35,837,897
93$44,009,257$5,776,828$2,542,692$39,289,503
94$48,357,230$5,918,921$2,486,901$43,087,843
95$53,144,254$6,063,535$2,424,799$47,268,156
96$58,414,975$6,210,655$2,356,037$51,869,274
97$64,218,585$6,360,260$2,280,246$56,933,986
98$70,609,289$6,512,321$2,197,043$62,509,443
99$77,646,818$6,666,806$2,106,026$68,647,606
100$85,396,989$6,823,675$2,006,773$75,405,729