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%19.2%
1 years$197,364$195,606$193,891$192,217$190,582$183,528
2 years$97,705$95,885$94,122$92,412$90,753$83,726
3 years$64,490$62,662$60,903$59,209$57,578$50,799
4 years$47,885$46,063$44,322$42,657$41,065$34,585
5 years$37,925$36,114$34,396$32,765$31,217$25,054
6 years$31,287$29,490$27,797$26,202$24,701$18,858
7 years$26,548$24,766$23,099$21,542$20,088$14,565
8 years$22,995$21,229$19,590$18,071$16,665$11,456
9 years$20,233$18,483$16,873$15,393$14,035$9,133
10 years$18,025$16,292$14,710$13,269$11,958$7,355
11 years$16,219$14,504$12,951$11,548$10,284$5,969
12 years$14,715$13,018$11,493$10,129$8,912$4,875
13 years$13,444$11,764$10,268$8,942$7,772$4,001
14 years$12,355$10,694$9,226$7,938$6,813$3,296
15 years$11,413$9,769$8,330$7,079$5,998$2,724
16 years$10,589$8,963$7,552$6,339$5,301$2,257
17 years$9,862$8,254$6,872$5,695$4,701$1,874
18 years$9,217$7,627$6,274$5,133$4,180$1,559
19 years$8,641$7,069$5,743$4,638$3,725$1,299
20 years$8,123$6,569$5,271$4,200$3,327$1,083
21 years$7,655$6,119$4,848$3,812$2,978$904
22 years$7,230$5,711$4,468$3,466$2,669$755
23 years$6,842$5,342$4,126$3,157$2,396$631
24 years$6,488$5,005$3,816$2,879$2,154$528
25 years$6,162$4,697$3,534$2,629$1,938$442
26 years$5,862$4,414$3,278$2,404$1,746$370
27 years$5,584$4,154$3,044$2,201$1,574$310
28 years$5,327$3,915$2,829$2,016$1,420$260
29 years$5,088$3,693$2,633$1,849$1,282$218
30 years$4,865$3,488$2,453$1,697$1,159$182
31 years$4,657$3,297$2,286$1,558$1,047$153
32 years$4,463$3,120$2,133$1,432$948$128
33 years$4,280$2,954$1,992$1,317$858$107
34 years$4,109$2,800$1,861$1,212$776$90
35 years$3,948$2,656$1,740$1,115$703$76
36 years$3,796$2,521$1,628$1,027$637$63
37 years$3,653$2,394$1,523$947$577$53
38 years$3,517$2,275$1,427$872$524$45
39 years$3,389$2,164$1,337$804$475$37
40 years$3,268$2,058$1,253$742$431$31
41 years$3,152$1,959$1,175$685$391$26
42 years$3,043$1,866$1,102$632$354$22
43 years$2,939$1,778$1,034$583$322$19
44 years$2,840$1,695$971$538$292$16
45 years$2,745$1,616$911$497$265$13
46 years$2,655$1,542$856$459$241$11
47 years$2,569$1,471$804$424$219$9
48 years$2,487$1,405$756$392$198$8
49 years$2,409$1,341$710$362$180$6
50 years$2,333$1,281$668$335$164$5

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 $4,864 every year, while hoping to spend $22,865 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: 65/12/23 Blend
60$2,390,000$2,390,000$2,390,000$2,390,000
61$2,638,797$2,512,127$2,475,082$2,794,336
62$2,883,626$2,610,893$2,533,669$2,998,410
63$3,152,662$2,713,733$2,593,453$3,218,338
64$3,448,348$2,820,820$2,654,448$3,458,180
65$3,773,379$2,932,340$2,716,672$3,719,894
66$4,130,723$3,048,483$2,780,139$4,005,633
67$4,523,647$3,169,450$2,844,865$4,317,767
68$4,955,755$3,295,449$2,910,864$4,658,907
69$5,431,016$3,426,699$2,978,151$5,031,925
70$5,953,800$3,563,429$3,046,740$5,439,987
71$6,528,926$3,705,875$3,116,644$5,886,577
72$7,161,703$3,854,289$3,187,878$6,375,530
73$7,857,977$4,008,930$3,260,452$6,911,072
74$8,624,193$4,170,070$3,334,380$7,497,857
75$9,467,452$4,337,994$3,409,673$8,141,007
76$10,395,576$4,513,000$3,486,341$8,846,169
77$11,417,186$4,695,398$3,564,394$9,619,556
78$12,541,780$4,885,514$3,643,842$10,468,017
79$13,779,823$5,083,686$3,724,693$11,399,093
80$15,142,849$5,290,270$3,806,954$12,421,090
81$16,643,564$5,505,638$3,890,631$13,543,160
82$18,295,970$5,730,177$3,975,730$14,775,383
83$20,115,497$5,964,293$4,062,255$16,128,862
84$22,119,146$6,208,412$4,150,209$17,615,830
85$24,325,651$6,462,976$4,239,593$19,249,762
86$26,755,656$6,728,450$4,330,407$21,045,504
87$29,431,907$7,005,319$4,422,651$23,019,411
88$32,379,473$7,294,090$4,516,321$25,189,501
89$35,625,973$7,595,295$4,611,412$27,575,626
90$39,201,847$7,909,489$4,707,918$30,199,656
91$43,140,633$8,237,252$4,805,831$33,085,688
92$47,479,291$8,579,191$4,905,140$36,260,269
93$52,258,550$8,935,942$5,005,834$39,752,650
94$57,523,289$9,308,170$5,107,895$43,595,060
95$63,322,963$9,696,569$5,211,309$47,823,005
96$69,712,072$10,101,868$5,316,055$52,475,612
97$76,750,670$10,524,826$5,422,109$57,595,987
98$84,504,936$10,966,240$5,529,448$63,231,629
99$93,047,797$11,426,943$5,638,041$69,434,874
100$102,459,615$11,907,806$5,747,859$76,263,387