Can I retire at age 61 with 2,390,000?

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$197,364$195,606$193,891$192,217$190,582$187,579
2 years$97,705$95,885$94,122$92,412$90,753$87,736
3 years$64,490$62,662$60,903$59,209$57,578$54,639
4 years$47,885$46,063$44,322$42,657$41,065$38,228
5 years$37,925$36,114$34,396$32,765$31,217$28,490
6 years$31,287$29,490$27,797$26,202$24,701$22,088
7 years$26,548$24,766$23,099$21,542$20,088$17,589
8 years$22,995$21,229$19,590$18,071$16,665$14,280
9 years$20,233$18,483$16,873$15,393$14,035$11,761
10 years$18,025$16,292$14,710$13,269$11,958$9,795
11 years$16,219$14,504$12,951$11,548$10,284$8,230
12 years$14,715$13,018$11,493$10,129$8,912$6,963
13 years$13,444$11,764$10,268$8,942$7,772$5,926
14 years$12,355$10,694$9,226$7,938$6,813$5,066
15 years$11,413$9,769$8,330$7,079$5,998$4,349
16 years$10,589$8,963$7,552$6,339$5,301$3,745
17 years$9,862$8,254$6,872$5,695$4,701$3,234
18 years$9,217$7,627$6,274$5,133$4,180$2,800
19 years$8,641$7,069$5,743$4,638$3,725$2,428
20 years$8,123$6,569$5,271$4,200$3,327$2,110
21 years$7,655$6,119$4,848$3,812$2,978$1,836
22 years$7,230$5,711$4,468$3,466$2,669$1,599
23 years$6,842$5,342$4,126$3,157$2,396$1,395
24 years$6,488$5,005$3,816$2,879$2,154$1,218
25 years$6,162$4,697$3,534$2,629$1,938$1,064
26 years$5,862$4,414$3,278$2,404$1,746$930
27 years$5,584$4,154$3,044$2,201$1,574$814
28 years$5,327$3,915$2,829$2,016$1,420$713
29 years$5,088$3,693$2,633$1,849$1,282$624
30 years$4,865$3,488$2,453$1,697$1,159$547
31 years$4,657$3,297$2,286$1,558$1,047$479
32 years$4,463$3,120$2,133$1,432$948$420
33 years$4,280$2,954$1,992$1,317$858$369
34 years$4,109$2,800$1,861$1,212$776$323
35 years$3,948$2,656$1,740$1,115$703$284
36 years$3,796$2,521$1,628$1,027$637$249
37 years$3,653$2,394$1,523$947$577$218
38 years$3,517$2,275$1,427$872$524$192
39 years$3,389$2,164$1,337$804$475$168
40 years$3,268$2,058$1,253$742$431$148
41 years$3,152$1,959$1,175$685$391$130
42 years$3,043$1,866$1,102$632$354$114
43 years$2,939$1,778$1,034$583$322$100
44 years$2,840$1,695$971$538$292$88
45 years$2,745$1,616$911$497$265$77
46 years$2,655$1,542$856$459$241$68
47 years$2,569$1,471$804$424$219$60
48 years$2,487$1,405$756$392$198$52
49 years$2,409$1,341$710$362$180$46
50 years$2,333$1,281$668$335$164$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,390,000, adding $4,146 every year, while hoping to spend $22,923 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: 43/42/15 Blend
60$2,390,000$2,390,000$2,390,000$2,390,000
61$2,638,057$2,511,387$2,474,342$2,739,824
62$2,882,748$2,610,055$2,532,842$2,910,305
63$3,151,631$2,712,789$2,592,534$3,092,288
64$3,447,146$2,819,765$2,653,433$3,288,948
65$3,771,987$2,931,166$2,715,555$3,501,645
66$4,129,119$3,047,181$2,778,915$3,731,871
67$4,521,808$3,168,012$2,843,528$3,981,263
68$4,953,654$3,293,867$2,909,408$4,251,622
69$5,428,623$3,424,962$2,976,569$4,544,925
70$5,951,084$3,561,527$3,045,026$4,863,345
71$6,525,852$3,703,799$3,114,792$5,209,270
72$7,158,230$3,852,027$3,185,879$5,585,326
73$7,854,064$4,006,470$3,258,300$5,994,398
74$8,619,791$4,167,401$3,332,066$6,439,659
75$9,462,509$4,335,102$3,407,189$6,924,599
76$10,390,033$4,509,871$3,483,678$7,453,053
77$11,410,980$4,692,017$3,561,544$8,029,242
78$12,534,839$4,881,865$3,640,795$8,657,808
79$13,772,070$5,079,754$3,721,439$9,343,858
80$15,134,197$5,286,038$3,803,483$10,093,009
81$16,633,918$5,501,087$3,886,933$10,911,443
82$18,285,226$5,725,288$3,971,794$11,805,962
83$20,103,538$5,959,047$4,058,068$12,784,051
84$22,105,845$6,202,786$4,145,760$13,853,948
85$24,310,868$6,456,949$4,234,869$15,024,718
86$26,739,234$6,721,998$4,325,395$16,306,342
87$29,413,677$6,998,416$4,417,337$17,709,804
88$32,359,245$7,286,711$4,510,690$19,247,196
89$35,603,540$7,587,412$4,605,450$20,931,830
90$39,176,978$7,901,072$4,701,610$22,778,362
91$43,113,076$8,228,271$4,799,160$24,802,928
92$47,448,767$8,569,614$4,898,089$27,023,295
93$52,224,751$8,925,734$4,998,384$29,459,026
94$57,485,875$9,297,295$5,100,030$32,131,662
95$63,281,562$9,684,990$5,203,009$35,064,925
96$69,666,271$10,089,544$5,307,299$38,284,938
97$76,700,014$10,511,716$5,412,878$41,820,468
98$84,448,925$10,952,299$5,519,718$45,703,200
99$92,985,878$11,412,125$5,627,792$49,968,028
100$102,391,180$11,892,061$5,737,065$54,653,383