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%11.4%
1 years$198,190$196,424$194,702$193,021$191,379$190,253
2 years$98,114$96,286$94,516$92,799$91,133$89,997
3 years$64,759$62,924$61,158$59,457$57,819$56,707
4 years$48,086$46,256$44,507$42,835$41,237$40,159
5 years$38,084$36,265$34,539$32,902$31,347$30,307
6 years$31,418$29,613$27,913$26,312$24,804$23,802
7 years$26,659$24,869$23,196$21,632$20,172$19,209
8 years$23,091$21,318$19,672$18,147$16,735$15,810
9 years$20,318$18,561$16,943$15,457$14,093$13,207
10 years$18,100$16,360$14,772$13,324$12,008$11,160
11 years$16,287$14,565$13,005$11,596$10,327$9,517
12 years$14,777$13,072$11,541$10,171$8,950$8,176
13 years$13,500$11,814$10,311$8,980$7,804$7,067
14 years$12,407$10,738$9,265$7,971$6,841$6,139
15 years$11,460$9,810$8,365$7,109$6,023$5,355
16 years$10,633$9,000$7,584$6,365$5,324$4,689
17 years$9,904$8,289$6,901$5,719$4,720$4,118
18 years$9,256$7,659$6,300$5,154$4,197$3,626
19 years$8,677$7,099$5,767$4,657$3,741$3,200
20 years$8,157$6,596$5,293$4,218$3,341$2,830
21 years$7,687$6,144$4,868$3,828$2,990$2,507
22 years$7,260$5,735$4,487$3,481$2,680$2,224
23 years$6,871$5,364$4,143$3,170$2,406$1,976
24 years$6,515$5,026$3,832$2,891$2,163$1,757
25 years$6,188$4,717$3,549$2,640$1,946$1,564
26 years$5,886$4,433$3,291$2,414$1,753$1,394
27 years$5,607$4,172$3,056$2,210$1,580$1,243
28 years$5,349$3,931$2,841$2,025$1,426$1,109
29 years$5,109$3,708$2,644$1,857$1,288$991
30 years$4,885$3,502$2,463$1,704$1,163$885
31 years$4,677$3,311$2,296$1,565$1,052$791
32 years$4,481$3,133$2,142$1,438$951$708
33 years$4,298$2,967$2,000$1,323$861$633
34 years$4,126$2,812$1,869$1,217$780$567
35 years$3,964$2,667$1,747$1,120$706$507
36 years$3,812$2,531$1,634$1,032$640$454
37 years$3,668$2,404$1,530$951$580$407
38 years$3,532$2,285$1,433$876$526$365
39 years$3,403$2,173$1,342$808$477$327
40 years$3,281$2,067$1,258$745$432$293
41 years$3,165$1,968$1,180$687$392$263
42 years$3,056$1,874$1,107$634$356$235
43 years$2,951$1,785$1,038$586$323$211
44 years$2,852$1,702$975$541$293$189
45 years$2,757$1,623$915$499$266$170
46 years$2,666$1,548$860$461$242$152
47 years$2,580$1,477$808$426$219$137
48 years$2,498$1,410$759$394$199$123
49 years$2,419$1,347$713$364$181$110
50 years$2,343$1,287$671$336$164$99

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 $6,757 every year, while hoping to spend $28,645 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: 40/39/21 Blend
60$2,400,000$2,400,000$2,400,000$2,400,000
61$2,651,770$2,524,570$2,487,370$2,741,107
62$2,891,772$2,617,796$2,540,219$2,899,016
63$3,155,295$2,714,630$2,593,878$3,066,503
64$3,444,707$2,815,218$2,648,344$3,247,115
65$3,762,617$2,919,714$2,703,614$3,442,064
66$4,111,900$3,028,276$2,759,681$3,652,681
67$4,495,723$3,141,071$2,816,540$3,880,429
68$4,917,576$3,258,272$2,874,183$4,126,915
69$5,381,301$3,380,060$2,932,600$4,393,905
70$5,891,132$3,506,622$2,991,781$4,683,341
71$6,451,737$3,638,155$3,051,715$4,997,357
72$7,068,253$3,774,864$3,112,387$5,338,300
73$7,746,346$3,916,963$3,173,782$5,708,750
74$8,492,253$4,064,674$3,235,884$6,111,544
75$9,312,850$4,218,230$3,298,673$6,549,806
76$10,215,711$4,377,874$3,362,129$7,026,967
77$11,209,182$4,543,858$3,426,229$7,546,806
78$12,302,458$4,716,447$3,490,947$8,113,478
79$13,505,671$4,895,915$3,556,256$8,731,557
80$14,829,986$5,082,551$3,622,127$9,406,074
81$16,287,702$5,276,654$3,688,526$10,142,569
82$17,892,376$5,478,538$3,755,420$10,947,135
83$19,658,940$5,688,529$3,822,769$11,826,483
84$21,603,853$5,906,967$3,890,532$12,787,996
85$23,745,248$6,134,210$3,958,667$13,839,805
86$26,103,105$6,370,629$4,027,124$14,990,859
87$28,699,443$6,616,611$4,095,854$16,251,011
88$31,558,523$6,872,562$4,164,802$17,631,109
89$34,707,079$7,138,904$4,233,909$19,143,098
90$38,174,570$7,416,078$4,303,114$20,800,131
91$41,993,456$7,704,547$4,372,348$22,616,691
92$46,199,509$8,004,790$4,441,543$24,608,727
93$50,832,145$8,317,311$4,510,621$26,793,804
94$55,934,799$8,642,634$4,579,502$29,191,264
95$61,555,334$8,981,309$4,648,100$31,822,413
96$67,746,492$9,333,906$4,716,325$34,710,712
97$74,566,391$9,701,025$4,784,079$37,882,006
98$82,079,078$10,083,290$4,851,261$41,364,758
99$90,355,127$10,481,355$4,917,761$45,190,321
100$99,472,308$10,895,899$4,983,464$49,393,231