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

Use the below retirement simulation to view the chances of a successful retirement.
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%19.5%
1 years$198,190$196,424$194,702$193,021$191,379$184,077
2 years$98,114$96,286$94,516$92,799$91,133$83,862
3 years$64,759$62,924$61,158$59,457$57,819$50,808
4 years$48,086$46,256$44,507$42,835$41,237$34,539
5 years$38,084$36,265$34,539$32,902$31,347$24,981
6 years$31,418$29,613$27,913$26,312$24,804$18,772
7 years$26,659$24,869$23,196$21,632$20,172$14,474
8 years$23,091$21,318$19,672$18,147$16,735$11,364
9 years$20,318$18,561$16,943$15,457$14,093$9,043
10 years$18,100$16,360$14,772$13,324$12,008$7,268
11 years$16,287$14,565$13,005$11,596$10,327$5,888
12 years$14,777$13,072$11,541$10,171$8,950$4,799
13 years$13,500$11,814$10,311$8,980$7,804$3,930
14 years$12,407$10,738$9,265$7,971$6,841$3,231
15 years$11,460$9,810$8,365$7,109$6,023$2,664
16 years$10,633$9,000$7,584$6,365$5,324$2,203
17 years$9,904$8,289$6,901$5,719$4,720$1,825
18 years$9,256$7,659$6,300$5,154$4,197$1,515
19 years$8,677$7,099$5,767$4,657$3,741$1,259
20 years$8,157$6,596$5,293$4,218$3,341$1,048
21 years$7,687$6,144$4,868$3,828$2,990$872
22 years$7,260$5,735$4,487$3,481$2,680$727
23 years$6,871$5,364$4,143$3,170$2,406$607
24 years$6,515$5,026$3,832$2,891$2,163$506
25 years$6,188$4,717$3,549$2,640$1,946$423
26 years$5,886$4,433$3,291$2,414$1,753$353
27 years$5,607$4,172$3,056$2,210$1,580$295
28 years$5,349$3,931$2,841$2,025$1,426$246
29 years$5,109$3,708$2,644$1,857$1,288$206
30 years$4,885$3,502$2,463$1,704$1,163$172
31 years$4,677$3,311$2,296$1,565$1,052$144
32 years$4,481$3,133$2,142$1,438$951$120
33 years$4,298$2,967$2,000$1,323$861$101
34 years$4,126$2,812$1,869$1,217$780$84
35 years$3,964$2,667$1,747$1,120$706$70
36 years$3,812$2,531$1,634$1,032$640$59
37 years$3,668$2,404$1,530$951$580$49
38 years$3,532$2,285$1,433$876$526$41
39 years$3,403$2,173$1,342$808$477$35
40 years$3,281$2,067$1,258$745$432$29
41 years$3,165$1,968$1,180$687$392$24
42 years$3,056$1,874$1,107$634$356$20
43 years$2,951$1,785$1,038$586$323$17
44 years$2,852$1,702$975$541$293$14
45 years$2,757$1,623$915$499$266$12
46 years$2,666$1,548$860$461$242$10
47 years$2,580$1,477$808$426$219$8
48 years$2,498$1,410$759$394$199$7
49 years$2,419$1,347$713$364$181$6
50 years$2,343$1,287$671$336$164$5

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 $5,039 every year, while hoping to spend $46,420 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: 62/17/21 Blend
60$2,400,000$2,400,000$2,400,000$2,400,000
61$2,649,998$2,522,798$2,485,598$2,799,528
62$2,870,907$2,597,024$2,519,475$2,975,342
63$3,112,793$2,673,332$2,552,931$3,161,600
64$3,377,747$2,751,774$2,585,903$3,363,898
65$3,668,071$2,832,405$2,618,324$3,583,804
66$3,986,300$2,915,279$2,650,124$3,823,046
67$4,335,227$3,000,452$2,681,228$4,083,525
68$4,717,928$3,087,982$2,711,557$4,367,336
69$5,137,791$3,177,927$2,741,028$4,676,787
70$5,598,546$3,270,346$2,769,553$5,014,417
71$6,104,305$3,365,300$2,797,040$5,383,028
72$6,659,595$3,462,850$2,823,392$5,785,700
73$7,269,402$3,563,059$2,848,504$6,225,832
74$7,939,221$3,665,989$2,872,269$6,707,165
75$8,675,105$3,771,706$2,894,573$7,233,821
76$9,483,721$3,880,274$2,915,296$7,810,341
77$10,372,413$3,991,760$2,934,312$8,441,728
78$11,349,275$4,106,232$2,951,487$9,133,496
79$12,423,221$4,223,758$2,966,682$9,891,716
80$13,604,074$4,344,406$2,979,750$10,723,080
81$14,902,655$4,468,248$2,990,537$11,634,962
82$16,330,886$4,595,353$2,998,881$12,635,485
83$17,901,905$4,725,793$3,004,611$13,733,600
84$19,630,183$4,859,640$3,007,549$14,939,170
85$21,531,667$4,996,968$3,007,508$16,263,063
86$23,623,928$5,137,850$3,004,290$17,717,254
87$25,926,324$5,282,361$2,997,689$19,314,938
88$28,460,186$5,430,574$2,987,489$21,070,657
89$31,249,018$5,582,565$2,973,463$23,000,433
90$34,318,717$5,738,409$2,955,373$25,121,922
91$37,697,817$5,898,182$2,932,969$27,454,579
92$41,417,760$6,061,959$2,905,989$30,019,845
93$45,513,194$6,229,817$2,874,162$32,841,345
94$50,022,292$6,401,831$2,837,199$35,945,114
95$54,987,121$6,578,075$2,794,800$39,359,842
96$60,454,033$6,758,627$2,746,652$43,117,143
97$66,474,104$6,943,559$2,692,424$47,251,857
98$73,103,616$7,132,947$2,631,774$51,802,377
99$80,404,586$7,326,863$2,564,340$56,811,011
100$88,445,354$7,525,380$2,489,745$62,324,383