Can I retire at age 61 with 2,460,000?

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 $2,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$203,145$201,335$199,570$197,846$196,164$193,873
2 years$100,567$98,694$96,878$95,118$93,411$91,106
3 years$66,378$64,497$62,687$60,943$59,264$57,015
4 years$49,288$47,412$45,620$43,906$42,268$40,093
5 years$39,036$37,172$35,403$33,724$32,131$30,036
6 years$32,204$30,354$28,611$26,970$25,424$23,412
7 years$27,325$25,491$23,776$22,173$20,677$18,749
8 years$23,668$21,850$20,164$18,600$17,153$15,309
9 years$20,825$19,025$17,367$15,843$14,446$12,684
10 years$18,552$16,769$15,141$13,657$12,308$10,628
11 years$16,694$14,929$13,330$11,886$10,586$8,985
12 years$15,146$13,399$11,830$10,426$9,173$7,651
13 years$13,838$12,109$10,569$9,204$7,999$6,554
14 years$12,717$11,007$9,496$8,170$7,012$5,641
15 years$11,747$10,055$8,574$7,287$6,174$4,875
16 years$10,899$9,225$7,774$6,524$5,457$4,228
17 years$10,151$8,496$7,074$5,862$4,838$3,677
18 years$9,487$7,851$6,457$5,283$4,302$3,206
19 years$8,894$7,276$5,911$4,774$3,834$2,801
20 years$8,361$6,761$5,425$4,323$3,425$2,452
21 years$7,879$6,298$4,990$3,924$3,065$2,149
22 years$7,441$5,879$4,599$3,568$2,747$1,887
23 years$7,043$5,498$4,247$3,249$2,466$1,658
24 years$6,678$5,152$3,927$2,963$2,217$1,459
25 years$6,342$4,834$3,637$2,706$1,995$1,285
26 years$6,033$4,544$3,374$2,474$1,797$1,133
27 years$5,748$4,276$3,133$2,265$1,620$999
28 years$5,483$4,029$2,912$2,075$1,462$882
29 years$5,237$3,801$2,710$1,903$1,320$778
30 years$5,007$3,590$2,524$1,746$1,193$688
31 years$4,793$3,394$2,353$1,604$1,078$608
32 years$4,593$3,211$2,196$1,474$975$537
33 years$4,405$3,041$2,050$1,356$883$475
34 years$4,229$2,882$1,916$1,247$799$420
35 years$4,063$2,734$1,791$1,148$724$372
36 years$3,907$2,595$1,675$1,057$656$329
37 years$3,760$2,464$1,568$974$594$291
38 years$3,620$2,342$1,468$898$539$258
39 years$3,488$2,227$1,376$828$489$228
40 years$3,363$2,119$1,290$764$443$202
41 years$3,245$2,017$1,209$705$402$179
42 years$3,132$1,921$1,134$650$365$159
43 years$3,025$1,830$1,064$600$331$141
44 years$2,923$1,744$999$554$301$125
45 years$2,826$1,664$938$512$273$110
46 years$2,733$1,587$881$473$248$98
47 years$2,645$1,514$828$437$225$87
48 years$2,560$1,446$778$404$204$77
49 years$2,479$1,381$731$373$186$68
50 years$2,402$1,319$687$345$169$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,460,000, adding $6,134 every year, while hoping to spend $48,660 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: 73/21/6 Blend
60$2,460,000$2,460,000$2,460,000$2,460,000
61$2,717,247$2,586,867$2,548,737$2,913,276
62$2,942,633$2,661,850$2,582,346$3,118,232
63$3,189,376$2,738,876$2,615,450$3,335,890
64$3,459,606$2,817,994$2,647,980$3,572,871
65$3,755,663$2,899,253$2,679,866$3,831,066
66$4,080,129$2,982,704$2,711,029$4,112,557
67$4,435,844$3,068,399$2,741,390$4,419,635
68$4,825,937$3,156,387$2,770,864$4,754,825
69$5,253,855$3,246,723$2,799,360$5,120,906
70$5,723,395$3,339,459$2,826,785$5,520,937
71$6,238,737$3,434,648$2,853,039$5,958,288
72$6,804,489$3,532,347$2,878,016$6,436,671
73$7,425,723$3,632,608$2,901,606$6,960,171
74$8,108,029$3,735,488$2,923,692$7,533,291
75$8,857,564$3,841,043$2,944,152$8,160,989
76$9,681,111$3,949,330$2,962,857$8,848,726
77$10,586,143$4,060,405$2,979,670$9,602,517
78$11,580,890$4,174,326$2,994,450$10,428,989
79$12,674,423$4,291,150$3,007,047$11,335,441
80$13,876,734$4,410,936$3,017,302$12,329,915
81$15,198,829$4,533,740$3,025,051$13,421,269
82$16,652,839$4,659,623$3,030,119$14,619,261
83$18,252,125$4,788,641$3,032,324$15,934,644
84$20,011,410$4,920,853$3,031,476$17,379,263
85$21,946,916$5,056,316$3,027,372$18,966,166
86$24,076,515$5,195,089$3,019,802$20,709,733
87$26,419,900$5,337,229$3,008,546$22,625,805
88$28,998,770$5,482,793$2,993,372$24,731,834
89$31,837,031$5,631,836$2,974,037$27,047,053
90$34,961,027$5,784,415$2,950,286$29,592,648
91$38,399,783$5,940,584$2,921,853$32,391,967
92$42,185,285$6,100,396$2,888,458$35,470,733
93$46,352,772$6,263,903$2,849,809$38,857,291
94$50,941,077$6,431,157$2,805,601$42,582,872
95$55,992,990$6,602,207$2,755,511$46,681,890
96$61,555,659$6,777,099$2,699,205$51,192,264
97$67,681,040$6,955,880$2,636,331$56,155,779
98$74,426,380$7,138,592$2,566,523$61,618,475
99$81,854,764$7,325,276$2,489,394$67,631,087
100$90,035,705$7,515,970$2,404,544$74,249,519