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%16.5%
1 years$199,841$198,061$196,325$194,629$192,974$187,852
2 years$98,931$97,089$95,303$93,572$91,892$86,768
3 years$65,299$63,449$61,667$59,952$58,300$53,333
4 years$48,486$46,641$44,878$43,192$41,580$36,809
5 years$38,401$36,567$34,827$33,176$31,609$27,047
6 years$31,680$29,860$28,146$26,531$25,011$20,662
7 years$26,881$25,076$23,389$21,813$20,341$16,206
8 years$23,283$21,495$19,836$18,298$16,874$12,952
9 years$20,487$18,715$17,085$15,586$14,211$10,496
10 years$18,251$16,497$14,895$13,435$12,108$8,597
11 years$16,423$14,686$13,113$11,693$10,413$7,101
12 years$14,900$13,181$11,638$10,256$9,024$5,903
13 years$13,613$11,912$10,397$9,055$7,869$4,934
14 years$12,510$10,828$9,342$8,038$6,898$4,142
15 years$11,556$9,891$8,435$7,168$6,074$3,489
16 years$10,722$9,075$7,647$6,418$5,368$2,948
17 years$9,986$8,358$6,959$5,767$4,760$2,497
18 years$9,333$7,723$6,352$5,197$4,232$2,119
19 years$8,749$7,158$5,815$4,696$3,772$1,802
20 years$8,225$6,651$5,337$4,253$3,369$1,534
21 years$7,751$6,195$4,909$3,860$3,015$1,307
22 years$7,320$5,783$4,524$3,510$2,703$1,116
23 years$6,928$5,409$4,177$3,196$2,426$953
24 years$6,569$5,068$3,863$2,915$2,181$814
25 years$6,239$4,756$3,578$2,662$1,962$696
26 years$5,935$4,470$3,319$2,434$1,767$596
27 years$5,654$4,207$3,082$2,228$1,594$510
28 years$5,394$3,964$2,865$2,041$1,438$437
29 years$5,152$3,739$2,666$1,872$1,298$374
30 years$4,926$3,531$2,483$1,718$1,173$321
31 years$4,716$3,338$2,315$1,578$1,061$275
32 years$4,519$3,159$2,160$1,450$959$236
33 years$4,334$2,991$2,017$1,334$868$202
34 years$4,160$2,835$1,884$1,227$786$173
35 years$3,997$2,689$1,762$1,129$712$149
36 years$3,844$2,552$1,648$1,040$645$127
37 years$3,698$2,424$1,543$958$585$109
38 years$3,561$2,304$1,445$883$530$94
39 years$3,432$2,191$1,353$815$481$80
40 years$3,309$2,084$1,269$751$436$69
41 years$3,192$1,984$1,190$693$396$59
42 years$3,081$1,890$1,116$640$359$51
43 years$2,976$1,800$1,047$591$326$44
44 years$2,875$1,716$983$545$296$37
45 years$2,780$1,636$923$504$268$32
46 years$2,689$1,561$867$465$244$28
47 years$2,602$1,490$814$430$221$24
48 years$2,518$1,422$765$397$201$20
49 years$2,439$1,358$719$367$183$17
50 years$2,363$1,297$676$339$166$15

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 $5,826 every year, while hoping to spend $41,504 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: 55/21/24 Blend
60$2,420,000$2,420,000$2,420,000$2,420,000
61$2,672,850$2,544,590$2,507,080$2,801,970
62$2,901,320$2,625,114$2,546,907$2,971,798
63$3,151,704$2,708,194$2,586,677$3,151,826
64$3,426,192$2,793,910$2,626,345$3,347,021
65$3,727,198$2,882,345$2,665,862$3,558,854
66$4,057,379$2,973,588$2,705,175$3,788,942
67$4,419,665$3,067,726$2,744,232$4,039,065
68$4,817,279$3,164,853$2,782,972$4,311,185
69$5,253,774$3,265,064$2,821,334$4,607,461
70$5,733,063$3,368,456$2,859,253$4,930,268
71$6,259,457$3,475,132$2,896,660$5,282,227
72$6,837,705$3,585,197$2,933,481$5,666,218
73$7,473,037$3,698,757$2,969,638$6,085,419
74$8,171,216$3,815,926$3,005,050$6,543,326
75$8,938,591$3,936,817$3,039,631$7,043,790
76$9,782,156$4,061,551$3,073,288$7,591,056
77$10,709,618$4,190,248$3,105,925$8,189,797
78$11,729,466$4,323,038$3,137,440$8,845,161
79$12,851,054$4,460,049$3,167,726$9,562,819
80$14,084,687$4,601,416$3,196,671$10,349,021
81$15,441,719$4,747,280$3,224,153$11,210,648
82$16,934,661$4,897,784$3,250,049$12,155,285
83$18,577,297$5,053,075$3,274,226$13,191,285
84$20,384,813$5,213,308$3,296,545$14,327,853
85$22,373,944$5,378,640$3,316,859$15,575,130
86$24,563,128$5,549,235$3,335,015$16,944,289
87$26,972,680$5,725,260$3,350,852$18,447,641
88$29,624,986$5,906,891$3,364,198$20,098,751
89$32,544,712$6,094,306$3,374,876$21,912,562
90$35,759,036$6,287,690$3,382,697$23,905,544
91$39,297,906$6,487,235$3,387,466$26,095,841
92$43,194,322$6,693,139$3,388,975$28,503,445
93$47,484,644$6,905,605$3,387,008$31,150,389
94$52,208,942$7,124,843$3,381,336$34,060,945
95$57,411,365$7,351,071$3,371,722$37,261,864
96$63,140,564$7,584,514$3,357,915$40,782,620
97$69,450,149$7,825,402$3,339,652$44,655,692
98$76,399,192$8,073,975$3,316,659$48,916,869
99$84,052,790$8,330,480$3,288,646$53,605,588
100$92,482,672$8,595,171$3,255,314$58,765,306