Can I retire at age 61 with 2,420,000?

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 $2,420,000?

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$199,841$198,061$196,325$194,629$192,974$185,832
2 years$98,931$97,089$95,303$93,572$91,892$84,777
3 years$65,299$63,449$61,667$59,952$58,300$51,436
4 years$48,486$46,641$44,878$43,192$41,580$35,019
5 years$38,401$36,567$34,827$33,176$31,609$25,368
6 years$31,680$29,860$28,146$26,531$25,011$19,095
7 years$26,881$25,076$23,389$21,813$20,341$14,748
8 years$23,283$21,495$19,836$18,298$16,874$11,600
9 years$20,487$18,715$17,085$15,586$14,211$9,247
10 years$18,251$16,497$14,895$13,435$12,108$7,447
11 years$16,423$14,686$13,113$11,693$10,413$6,044
12 years$14,900$13,181$11,638$10,256$9,024$4,936
13 years$13,613$11,912$10,397$9,055$7,869$4,051
14 years$12,510$10,828$9,342$8,038$6,898$3,337
15 years$11,556$9,891$8,435$7,168$6,074$2,758
16 years$10,722$9,075$7,647$6,418$5,368$2,285
17 years$9,986$8,358$6,959$5,767$4,760$1,898
18 years$9,333$7,723$6,352$5,197$4,232$1,579
19 years$8,749$7,158$5,815$4,696$3,772$1,315
20 years$8,225$6,651$5,337$4,253$3,369$1,097
21 years$7,751$6,195$4,909$3,860$3,015$915
22 years$7,320$5,783$4,524$3,510$2,703$765
23 years$6,928$5,409$4,177$3,196$2,426$639
24 years$6,569$5,068$3,863$2,915$2,181$535
25 years$6,239$4,756$3,578$2,662$1,962$448
26 years$5,935$4,470$3,319$2,434$1,767$375
27 years$5,654$4,207$3,082$2,228$1,594$314
28 years$5,394$3,964$2,865$2,041$1,438$263
29 years$5,152$3,739$2,666$1,872$1,298$220
30 years$4,926$3,531$2,483$1,718$1,173$185
31 years$4,716$3,338$2,315$1,578$1,061$155
32 years$4,519$3,159$2,160$1,450$959$130
33 years$4,334$2,991$2,017$1,334$868$109
34 years$4,160$2,835$1,884$1,227$786$91
35 years$3,997$2,689$1,762$1,129$712$77
36 years$3,844$2,552$1,648$1,040$645$64
37 years$3,698$2,424$1,543$958$585$54
38 years$3,561$2,304$1,445$883$530$45
39 years$3,432$2,191$1,353$815$481$38
40 years$3,309$2,084$1,269$751$436$32
41 years$3,192$1,984$1,190$693$396$27
42 years$3,081$1,890$1,116$640$359$22
43 years$2,976$1,800$1,047$591$326$19
44 years$2,875$1,716$983$545$296$16
45 years$2,780$1,636$923$504$268$13
46 years$2,689$1,561$867$465$244$11
47 years$2,602$1,490$814$430$221$9
48 years$2,518$1,422$765$397$201$8
49 years$2,439$1,358$719$367$183$7
50 years$2,363$1,297$676$339$166$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,420,000, adding $3,946 every year, while hoping to spend $29,697 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: 47/32/21 Blend
60$2,420,000$2,420,000$2,420,000$2,420,000
61$2,670,910$2,542,650$2,505,140$2,780,304
62$2,911,746$2,635,643$2,557,465$2,950,134
63$3,176,151$2,732,197$2,610,548$3,131,082
64$3,466,499$2,832,455$2,664,381$3,326,876
65$3,785,404$2,936,567$2,718,960$3,538,918
66$4,135,744$3,044,688$2,774,274$3,768,750
67$4,520,693$3,156,980$2,830,315$4,018,067
68$4,943,743$3,273,612$2,887,071$4,288,733
69$5,408,747$3,394,761$2,944,529$4,582,799
70$5,919,943$3,520,608$3,002,675$4,902,520
71$6,482,007$3,651,347$3,061,494$5,250,377
72$7,100,085$3,787,177$3,120,967$5,629,101
73$7,779,849$3,928,304$3,181,076$6,041,693
74$8,527,550$4,074,947$3,241,798$6,491,460
75$9,350,072$4,227,332$3,303,110$6,982,039
76$10,255,002$4,385,693$3,364,987$7,517,432
77$11,250,698$4,550,278$3,427,400$8,102,045
78$12,346,370$4,721,343$3,490,319$8,740,728
79$13,552,166$4,899,155$3,553,711$9,438,819
80$14,879,267$5,083,993$3,617,540$10,202,197
81$16,339,993$5,276,150$3,681,768$11,037,331
82$17,947,918$5,475,927$3,746,353$11,951,345
83$19,718,001$5,683,643$3,811,252$12,952,084
84$21,666,724$5,899,628$3,876,415$14,048,185
85$23,812,247$6,124,227$3,941,792$15,249,159
86$26,174,582$6,357,800$4,007,328$16,565,480
87$28,775,781$6,600,723$4,072,965$18,008,682
88$31,640,140$6,853,389$4,138,639$19,591,469
89$34,794,435$7,116,205$4,204,283$21,327,832
90$38,268,168$7,389,600$4,269,828$23,233,178
91$42,093,850$7,674,019$4,335,196$25,324,481
92$46,307,305$7,969,929$4,400,308$27,620,433
93$50,948,009$8,277,814$4,465,077$30,141,625
94$56,059,461$8,598,182$4,529,412$32,910,739
95$61,689,597$8,931,564$4,593,218$35,952,759
96$67,891,236$9,278,511$4,656,391$39,295,206
97$74,722,586$9,639,601$4,718,823$42,968,397
98$82,247,786$10,015,438$4,780,400$47,005,733
99$90,537,517$10,406,651$4,841,000$51,444,006
100$99,669,664$10,813,898$4,900,495$56,323,749