Can I retire at age 61 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$198,190$196,424$194,702$193,021$191,379$185,031
2 years$98,114$96,286$94,516$92,799$91,133$84,799
3 years$64,759$62,924$61,158$59,457$57,819$51,697
4 years$48,086$46,256$44,507$42,835$41,237$35,375
5 years$38,084$36,265$34,539$32,902$31,347$25,761
6 years$31,418$29,613$27,913$26,312$24,804$19,498
7 years$26,659$24,869$23,196$21,632$20,172$15,146
8 years$23,091$21,318$19,672$18,147$16,735$11,984
9 years$20,318$18,561$16,943$15,457$14,093$9,612
10 years$18,100$16,360$14,772$13,324$12,008$7,789
11 years$16,287$14,565$13,005$11,596$10,327$6,363
12 years$14,777$13,072$11,541$10,171$8,950$5,231
13 years$13,500$11,814$10,311$8,980$7,804$4,323
14 years$12,407$10,738$9,265$7,971$6,841$3,586
15 years$11,460$9,810$8,365$7,109$6,023$2,985
16 years$10,633$9,000$7,584$6,365$5,324$2,491
17 years$9,904$8,289$6,901$5,719$4,720$2,084
18 years$9,256$7,659$6,300$5,154$4,197$1,746
19 years$8,677$7,099$5,767$4,657$3,741$1,466
20 years$8,157$6,596$5,293$4,218$3,341$1,232
21 years$7,687$6,144$4,868$3,828$2,990$1,036
22 years$7,260$5,735$4,487$3,481$2,680$873
23 years$6,871$5,364$4,143$3,170$2,406$735
24 years$6,515$5,026$3,832$2,891$2,163$620
25 years$6,188$4,717$3,549$2,640$1,946$523
26 years$5,886$4,433$3,291$2,414$1,753$441
27 years$5,607$4,172$3,056$2,210$1,580$373
28 years$5,349$3,931$2,841$2,025$1,426$315
29 years$5,109$3,708$2,644$1,857$1,288$266
30 years$4,885$3,502$2,463$1,704$1,163$225
31 years$4,677$3,311$2,296$1,565$1,052$190
32 years$4,481$3,133$2,142$1,438$951$161
33 years$4,298$2,967$2,000$1,323$861$136
34 years$4,126$2,812$1,869$1,217$780$115
35 years$3,964$2,667$1,747$1,120$706$97
36 years$3,812$2,531$1,634$1,032$640$82
37 years$3,668$2,404$1,530$951$580$69
38 years$3,532$2,285$1,433$876$526$59
39 years$3,403$2,173$1,342$808$477$50
40 years$3,281$2,067$1,258$745$432$42
41 years$3,165$1,968$1,180$687$392$36
42 years$3,056$1,874$1,107$634$356$30
43 years$2,951$1,785$1,038$586$323$25
44 years$2,852$1,702$975$541$293$21
45 years$2,757$1,623$915$499$266$18
46 years$2,666$1,548$860$461$242$15
47 years$2,580$1,477$808$426$219$13
48 years$2,498$1,410$759$394$199$11
49 years$2,419$1,347$713$364$181$9
50 years$2,343$1,287$671$336$164$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,400,000, adding $6,183 every year, while hoping to spend $50,320 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: 44/38/18 Blend
60$2,400,000$2,400,000$2,400,000$2,400,000
61$2,651,178$2,523,978$2,486,778$2,753,783
62$2,868,058$2,594,113$2,516,545$2,896,604
63$3,105,373$2,665,997$2,545,622$3,045,855
64$3,365,155$2,739,665$2,573,934$3,206,572
65$3,649,640$2,815,148$2,601,401$3,379,836
66$3,961,292$2,892,479$2,627,936$3,566,840
67$4,302,823$2,971,689$2,653,451$3,768,896
68$4,677,220$3,052,812$2,677,851$3,987,447
69$5,087,775$3,135,878$2,701,037$4,224,083
70$5,538,111$3,220,918$2,722,905$4,480,555
71$6,032,219$3,307,965$2,743,344$4,758,789
72$6,574,497$3,397,047$2,762,237$5,060,909
73$7,169,788$3,488,194$2,779,465$5,389,251
74$7,823,427$3,581,436$2,794,896$5,746,391
75$8,541,289$3,676,799$2,808,398$6,135,163
76$9,329,850$3,774,311$2,819,829$6,558,693
77$10,196,240$3,873,998$2,829,038$7,020,419
78$11,148,316$3,975,884$2,835,871$7,524,134
79$12,194,734$4,079,992$2,840,163$8,074,012
80$13,345,029$4,186,344$2,841,741$8,674,653
81$14,609,707$4,294,960$2,840,424$9,331,127
82$16,000,342$4,405,858$2,836,023$10,049,016
83$17,529,686$4,519,054$2,828,339$10,834,475
84$19,211,788$4,634,561$2,817,162$11,694,282
85$21,062,128$4,752,392$2,802,274$12,635,907
86$23,097,761$4,872,555$2,783,446$13,667,581
87$25,337,478$4,995,056$2,760,437$14,798,373
88$27,801,984$5,119,897$2,732,995$16,038,276
89$30,514,093$5,247,078$2,700,857$17,398,304
90$33,498,940$5,376,594$2,663,745$18,890,592
91$36,784,222$5,508,438$2,621,371$20,528,512
92$40,400,458$5,642,597$2,573,432$22,326,800
93$44,381,273$5,779,052$2,519,611$24,301,697
94$48,763,721$5,917,784$2,459,575$26,471,098
95$53,588,628$6,058,763$2,392,979$28,854,723
96$58,900,982$6,201,957$2,319,458$31,474,307
97$64,750,356$6,347,326$2,238,633$34,353,799
98$71,191,372$6,494,825$2,150,107$37,519,593
99$78,284,221$6,644,400$2,053,465$41,000,777
100$86,095,227$6,795,991$1,948,272$44,829,406