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%17.4%
1 years$199,841$198,061$196,325$194,629$192,974$187,172
2 years$98,931$97,089$95,303$93,572$91,892$86,096
3 years$65,299$63,449$61,667$59,952$58,300$52,691
4 years$48,486$46,641$44,878$43,192$41,580$36,201
5 years$38,401$36,567$34,827$33,176$31,609$26,474
6 years$31,680$29,860$28,146$26,531$25,011$20,126
7 years$26,881$25,076$23,389$21,813$20,341$15,704
8 years$23,283$21,495$19,836$18,298$16,874$12,485
9 years$20,487$18,715$17,085$15,586$14,211$10,063
10 years$18,251$16,497$14,895$13,435$12,108$8,196
11 years$16,423$14,686$13,113$11,693$10,413$6,730
12 years$14,900$13,181$11,638$10,256$9,024$5,562
13 years$13,613$11,912$10,397$9,055$7,869$4,621
14 years$12,510$10,828$9,342$8,038$6,898$3,855
15 years$11,556$9,891$8,435$7,168$6,074$3,227
16 years$10,722$9,075$7,647$6,418$5,368$2,709
17 years$9,986$8,358$6,959$5,767$4,760$2,279
18 years$9,333$7,723$6,352$5,197$4,232$1,922
19 years$8,749$7,158$5,815$4,696$3,772$1,623
20 years$8,225$6,651$5,337$4,253$3,369$1,372
21 years$7,751$6,195$4,909$3,860$3,015$1,161
22 years$7,320$5,783$4,524$3,510$2,703$984
23 years$6,928$5,409$4,177$3,196$2,426$834
24 years$6,569$5,068$3,863$2,915$2,181$708
25 years$6,239$4,756$3,578$2,662$1,962$601
26 years$5,935$4,470$3,319$2,434$1,767$511
27 years$5,654$4,207$3,082$2,228$1,594$434
28 years$5,394$3,964$2,865$2,041$1,438$369
29 years$5,152$3,739$2,666$1,872$1,298$314
30 years$4,926$3,531$2,483$1,718$1,173$267
31 years$4,716$3,338$2,315$1,578$1,061$227
32 years$4,519$3,159$2,160$1,450$959$193
33 years$4,334$2,991$2,017$1,334$868$164
34 years$4,160$2,835$1,884$1,227$786$140
35 years$3,997$2,689$1,762$1,129$712$119
36 years$3,844$2,552$1,648$1,040$645$101
37 years$3,698$2,424$1,543$958$585$86
38 years$3,561$2,304$1,445$883$530$74
39 years$3,432$2,191$1,353$815$481$63
40 years$3,309$2,084$1,269$751$436$53
41 years$3,192$1,984$1,190$693$396$45
42 years$3,081$1,890$1,116$640$359$39
43 years$2,976$1,800$1,047$591$326$33
44 years$2,875$1,716$983$545$296$28
45 years$2,780$1,636$923$504$268$24
46 years$2,689$1,561$867$465$244$20
47 years$2,602$1,490$814$430$221$17
48 years$2,518$1,422$765$397$201$15
49 years$2,439$1,358$719$367$183$13
50 years$2,363$1,297$676$339$166$11

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 $3,123 every year, while hoping to spend $24,806 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: 42/46/12 Blend
60$2,420,000$2,420,000$2,420,000$2,420,000
61$2,670,061$2,541,801$2,504,291$2,772,691
62$2,916,014$2,639,956$2,561,792$2,943,078
63$3,186,223$2,742,089$2,620,387$3,124,749
64$3,483,135$2,848,369$2,680,088$3,320,920
65$3,809,448$2,958,972$2,740,904$3,532,925
66$4,168,132$3,074,083$2,802,844$3,762,229
67$4,562,461$3,193,892$2,865,919$4,010,441
68$4,996,041$3,318,601$2,930,136$4,279,327
69$5,472,844$3,448,420$2,995,503$4,570,830
70$5,997,248$3,583,567$3,062,026$4,887,081
71$6,574,076$3,724,270$3,129,712$5,230,423
72$7,208,642$3,870,769$3,198,567$5,603,433
73$7,906,799$4,023,312$3,268,595$6,008,940
74$8,674,999$4,182,161$3,339,800$6,450,056
75$9,520,349$4,347,587$3,412,183$6,930,203
76$10,450,680$4,519,875$3,485,747$7,453,143
77$11,474,622$4,699,321$3,560,492$8,023,014
78$12,601,682$4,886,236$3,636,417$8,644,364
79$13,842,337$5,080,945$3,713,520$9,322,201
80$15,208,130$5,283,786$3,791,798$10,062,029
81$16,711,781$5,495,113$3,871,244$10,869,906
82$18,367,305$5,715,296$3,951,854$11,752,497
83$20,190,147$5,944,723$4,033,618$12,717,137
84$22,197,324$6,183,796$4,116,526$13,771,894
85$24,407,589$6,432,940$4,200,567$14,925,651
86$26,841,603$6,692,594$4,285,727$16,188,184
87$29,522,138$6,963,222$4,371,989$17,570,251
88$32,474,281$7,245,305$4,459,336$19,083,695
89$35,725,681$7,539,348$4,547,747$20,741,555
90$39,306,803$7,845,879$4,637,199$22,558,182
91$43,251,218$8,165,448$4,727,667$24,549,377
92$47,595,919$8,498,633$4,819,121$26,732,537
93$52,381,673$8,846,035$4,911,531$29,126,818
94$57,653,398$9,208,286$5,004,862$31,753,310
95$63,460,597$9,586,044$5,099,077$34,635,237
96$69,857,816$9,979,998$5,194,135$37,798,175
97$76,905,165$10,390,870$5,289,990$41,270,285
98$84,668,882$10,819,413$5,386,595$45,082,585
99$93,221,960$11,266,415$5,483,897$49,269,231
100$102,644,831$11,732,702$5,581,839$53,867,844