Can I retire at age 61 with 2,440,000?

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 $2,440,000?

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$201,493$199,698$197,947$196,238$194,569$191,188
2 years$99,749$97,891$96,091$94,345$92,652$89,257
3 years$65,839$63,973$62,177$60,448$58,782$55,479
4 years$48,887$47,027$45,249$43,549$41,924$38,737
5 years$38,719$36,870$35,115$33,450$31,870$28,809
6 years$31,942$30,107$28,378$26,750$25,218$22,286
7 years$27,103$25,284$23,582$21,993$20,509$17,708
8 years$23,476$21,673$20,000$18,449$17,014$14,343
9 years$20,656$18,870$17,226$15,715$14,328$11,785
10 years$18,402$16,633$15,018$13,546$12,208$9,791
11 years$16,558$14,807$13,221$11,789$10,500$8,206
12 years$15,023$13,290$11,734$10,341$9,099$6,925
13 years$13,725$12,011$10,483$9,129$7,934$5,878
14 years$12,614$10,917$9,419$8,104$6,955$5,012
15 years$11,651$9,973$8,504$7,227$6,124$4,290
16 years$10,810$9,150$7,710$6,471$5,412$3,684
17 years$10,069$8,427$7,016$5,814$4,799$3,173
18 years$9,410$7,787$6,405$5,240$4,267$2,738
19 years$8,822$7,217$5,863$4,735$3,803$2,368
20 years$8,293$6,706$5,381$4,288$3,397$2,051
21 years$7,815$6,247$4,950$3,892$3,040$1,780
22 years$7,381$5,831$4,562$3,539$2,725$1,546
23 years$6,985$5,454$4,212$3,223$2,446$1,344
24 years$6,623$5,110$3,895$2,939$2,199$1,170
25 years$6,291$4,795$3,608$2,684$1,978$1,019
26 years$5,984$4,507$3,346$2,454$1,782$888
27 years$5,701$4,241$3,107$2,247$1,607$774
28 years$5,438$3,997$2,889$2,058$1,450$676
29 years$5,194$3,770$2,688$1,888$1,309$590
30 years$4,967$3,561$2,504$1,732$1,183$515
31 years$4,754$3,366$2,334$1,591$1,069$450
32 years$4,556$3,185$2,178$1,462$967$393
33 years$4,370$3,016$2,033$1,345$875$344
34 years$4,195$2,859$1,900$1,237$793$301
35 years$4,030$2,711$1,776$1,139$718$263
36 years$3,875$2,573$1,662$1,049$650$230
37 years$3,729$2,444$1,555$966$590$201
38 years$3,591$2,323$1,457$891$534$176
39 years$3,460$2,209$1,365$821$485$154
40 years$3,336$2,102$1,279$758$440$135
41 years$3,218$2,000$1,199$699$399$118
42 years$3,106$1,905$1,125$645$362$103
43 years$3,000$1,815$1,056$595$328$90
44 years$2,899$1,730$991$550$298$79
45 years$2,803$1,650$930$508$271$69
46 years$2,711$1,574$874$469$246$61
47 years$2,623$1,502$821$433$223$53
48 years$2,539$1,434$772$400$203$46
49 years$2,459$1,369$725$370$184$41
50 years$2,382$1,308$682$342$167$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,440,000, adding $4,379 every year, while hoping to spend $42,966 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: 58/17/25 Blend
60$2,440,000$2,440,000$2,440,000$2,440,000
61$2,693,397$2,564,077$2,526,257$2,831,142
62$2,922,408$2,644,001$2,565,171$3,005,635
63$3,173,338$2,726,402$2,603,949$3,190,843
64$3,448,378$2,811,355$2,642,540$3,391,870
65$3,749,939$2,898,938$2,680,892$3,610,260
66$4,080,679$2,989,232$2,718,948$3,847,711
67$4,443,525$3,082,321$2,756,649$4,106,093
68$4,841,699$3,178,289$2,793,932$4,387,464
69$5,278,752$3,277,225$2,830,728$4,694,093
70$5,758,596$3,379,220$2,866,969$5,028,478
71$6,285,538$3,484,367$2,902,577$5,393,370
72$6,864,324$3,592,763$2,937,475$5,791,798
73$7,500,183$3,704,506$2,971,579$6,227,102
74$8,198,874$3,819,699$3,004,799$6,702,956
75$8,966,742$3,938,448$3,037,043$7,223,413
76$9,810,778$4,060,860$3,068,212$7,792,933
77$10,738,682$4,187,047$3,098,202$8,416,433
78$11,758,940$4,317,124$3,126,904$9,099,327
79$12,880,898$4,451,209$3,154,201$9,847,582
80$14,114,857$4,589,426$3,179,974$10,667,771
81$15,472,163$4,731,898$3,204,093$11,567,136
82$16,965,317$4,878,755$3,226,425$12,553,657
83$18,608,096$5,030,131$3,246,827$13,636,125
84$20,415,677$5,186,162$3,265,150$14,824,227
85$22,404,781$5,346,989$3,281,238$16,128,636
86$24,593,836$5,512,758$3,294,926$17,561,114
87$27,003,143$5,683,619$3,306,042$19,134,618
88$29,655,072$5,859,725$3,314,403$20,863,427
89$32,574,272$6,041,235$3,319,819$22,763,276
90$35,787,905$6,228,311$3,322,089$24,851,502
91$39,325,895$6,421,123$3,321,003$27,147,208
92$43,221,222$6,619,843$3,316,342$29,671,446
93$47,510,220$6,824,649$3,307,873$32,447,414
94$52,232,929$7,035,724$3,295,354$35,500,673
95$57,433,470$7,253,257$3,278,530$38,859,392
96$63,160,459$7,477,441$3,257,136$42,554,609
97$69,467,467$7,708,477$3,230,891$46,620,529
98$76,413,526$7,946,570$3,199,503$51,094,845
99$84,063,685$8,191,931$3,162,666$56,019,092
100$92,489,623$8,444,778$3,120,058$61,439,040