Can I retire at age 61 with 2,430,000?

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 $2,430,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$200,667$198,880$197,136$195,434$193,772$190,405
2 years$99,340$97,490$95,697$93,958$92,272$88,891
3 years$65,569$63,711$61,922$60,200$58,541$55,251
4 years$48,687$46,834$45,064$43,371$41,752$38,578
5 years$38,560$36,719$34,971$33,313$31,739$28,691
6 years$31,811$29,983$28,262$26,641$25,114$22,195
7 years$26,992$25,180$23,486$21,903$20,425$17,635
8 years$23,380$21,584$19,918$18,374$16,944$14,284
9 years$20,571$18,793$17,155$15,650$14,269$11,737
10 years$18,326$16,565$14,956$13,491$12,158$9,751
11 years$16,490$14,747$13,167$11,741$10,457$8,172
12 years$14,962$13,236$11,686$10,298$9,061$6,897
13 years$13,669$11,961$10,440$9,092$7,902$5,854
14 years$12,562$10,873$9,381$8,071$6,927$4,991
15 years$11,604$9,932$8,469$7,198$6,099$4,273
16 years$10,766$9,113$7,679$6,445$5,390$3,669
17 years$10,027$8,392$6,987$5,791$4,779$3,160
18 years$9,372$7,755$6,379$5,218$4,249$2,727
19 years$8,786$7,187$5,839$4,715$3,788$2,358
20 years$8,259$6,679$5,359$4,271$3,383$2,043
21 years$7,783$6,221$4,929$3,876$3,028$1,772
22 years$7,351$5,807$4,543$3,524$2,714$1,539
23 years$6,957$5,431$4,195$3,209$2,436$1,339
24 years$6,596$5,089$3,879$2,927$2,190$1,165
25 years$6,265$4,775$3,593$2,673$1,970$1,015
26 years$5,960$4,488$3,332$2,444$1,775$884
27 years$5,677$4,224$3,094$2,237$1,600$771
28 years$5,416$3,980$2,877$2,050$1,444$673
29 years$5,173$3,755$2,677$1,880$1,304$587
30 years$4,946$3,546$2,494$1,725$1,178$513
31 years$4,735$3,352$2,325$1,584$1,065$448
32 years$4,537$3,172$2,169$1,456$963$392
33 years$4,352$3,004$2,025$1,339$872$342
34 years$4,178$2,847$1,892$1,232$789$299
35 years$4,014$2,700$1,769$1,134$715$262
36 years$3,859$2,563$1,655$1,045$648$229
37 years$3,714$2,434$1,549$962$587$200
38 years$3,576$2,313$1,451$887$532$175
39 years$3,446$2,200$1,359$818$483$153
40 years$3,322$2,093$1,274$754$438$134
41 years$3,205$1,992$1,194$696$397$117
42 years$3,094$1,897$1,120$642$360$103
43 years$2,988$1,808$1,051$593$327$90
44 years$2,887$1,723$987$548$297$79
45 years$2,791$1,643$927$506$270$69
46 years$2,700$1,568$870$467$245$60
47 years$2,612$1,496$818$432$222$53
48 years$2,529$1,428$768$399$202$46
49 years$2,449$1,364$722$369$183$40
50 years$2,373$1,303$679$341$166$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,430,000, adding $4,689 every year, while hoping to spend $37,174 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: 70/10/20 Blend
60$2,430,000$2,430,000$2,430,000$2,430,000
61$2,682,697$2,553,907$2,516,242$2,857,043
62$2,916,779$2,639,495$2,560,983$3,059,524
63$3,173,492$2,728,032$2,605,977$3,276,244
64$3,455,104$2,819,621$2,651,193$3,512,540
65$3,764,115$2,914,373$2,696,599$3,770,346
66$4,103,278$3,012,401$2,742,158$4,051,790
67$4,475,624$3,113,821$2,787,833$4,359,215
68$4,884,496$3,218,756$2,833,583$4,695,203
69$5,333,571$3,327,332$2,879,365$5,062,598
70$5,826,904$3,439,680$2,925,132$5,464,529
71$6,368,961$3,555,936$2,970,836$5,904,446
72$6,964,660$3,676,242$3,016,425$6,386,148
73$7,619,421$3,800,744$3,061,841$6,913,820
74$8,339,216$3,929,594$3,107,026$7,492,071
75$9,130,622$4,062,950$3,151,918$8,125,980
76$10,000,887$4,200,976$3,196,448$8,821,140
77$10,957,995$4,343,842$3,240,547$9,583,715
78$12,010,745$4,491,725$3,284,140$10,420,494
79$13,168,829$4,644,807$3,327,146$11,338,958
80$14,442,926$4,803,279$3,369,482$12,347,346
81$15,844,804$4,967,339$3,411,059$13,454,739
82$17,387,427$5,137,192$3,451,783$14,671,141
83$19,085,082$5,313,051$3,491,555$16,007,572
84$20,953,507$5,495,138$3,530,269$17,476,177
85$23,010,047$5,683,682$3,567,815$19,090,335
86$25,273,811$5,878,922$3,604,076$20,864,790
87$27,765,856$6,081,105$3,638,929$22,815,785
88$30,509,385$6,290,491$3,672,245$24,961,218
89$33,529,963$6,507,346$3,703,886$27,320,812
90$36,855,762$6,731,948$3,733,709$29,916,297
91$40,517,823$6,964,587$3,761,561$32,771,618
92$44,550,352$7,205,563$3,787,284$35,913,160
93$48,991,039$7,455,187$3,810,710$39,369,996
94$53,881,418$7,713,784$3,831,661$43,174,163
95$59,267,254$7,981,691$3,849,954$47,360,960
96$65,198,979$8,259,258$3,865,392$51,969,288
97$71,732,163$8,546,850$3,877,770$57,042,010
98$78,928,042$8,844,845$3,886,875$62,626,360
99$86,854,096$9,153,636$3,892,479$68,774,384
100$95,584,683$9,473,633$3,894,346$75,543,438