Can I retire at age 61 with 2,480,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$204,796$202,972$201,192$199,455$197,759$195,612
2 years$101,384$99,496$97,666$95,892$94,171$92,009
3 years$66,918$65,022$63,196$61,439$59,746$57,637
4 years$49,688$47,798$45,991$44,263$42,611$40,571
5 years$39,353$37,474$35,691$33,998$32,392$30,426
6 years$32,465$30,600$28,843$27,189$25,631$23,742
7 years$27,548$25,698$23,969$22,353$20,845$19,034
8 years$23,861$22,028$20,328$18,752$17,293$15,559
9 years$20,995$19,179$17,508$15,972$14,563$12,906
10 years$18,703$16,906$15,264$13,768$12,408$10,828
11 years$16,830$15,050$13,438$11,983$10,672$9,166
12 years$15,270$13,508$11,926$10,510$9,248$7,815
13 years$13,950$12,207$10,655$9,279$8,064$6,702
14 years$12,821$11,096$9,574$8,237$7,069$5,777
15 years$11,842$10,137$8,644$7,346$6,224$4,999
16 years$10,987$9,300$7,837$6,577$5,501$4,341
17 years$10,234$8,565$7,131$5,910$4,878$3,781
18 years$9,564$7,915$6,510$5,326$4,337$3,301
19 years$8,966$7,335$5,959$4,812$3,866$2,888
20 years$8,429$6,816$5,469$4,359$3,453$2,532
21 years$7,943$6,349$5,031$3,956$3,090$2,223
22 years$7,502$5,927$4,637$3,597$2,770$1,955
23 years$7,100$5,543$4,281$3,275$2,486$1,721
24 years$6,732$5,193$3,959$2,987$2,235$1,516
25 years$6,394$4,874$3,667$2,728$2,011$1,337
26 years$6,082$4,581$3,401$2,495$1,811$1,181
27 years$5,794$4,311$3,158$2,283$1,633$1,043
28 years$5,527$4,062$2,936$2,092$1,474$922
29 years$5,279$3,832$2,732$1,918$1,331$815
30 years$5,048$3,619$2,545$1,761$1,202$721
31 years$4,832$3,421$2,373$1,617$1,087$639
32 years$4,631$3,237$2,214$1,486$983$565
33 years$4,441$3,066$2,067$1,367$890$501
34 years$4,264$2,905$1,931$1,257$806$444
35 years$4,096$2,756$1,805$1,157$730$393
36 years$3,939$2,616$1,689$1,066$661$349
37 years$3,790$2,484$1,581$982$599$309
38 years$3,650$2,361$1,480$905$543$274
39 years$3,517$2,245$1,387$835$493$243
40 years$3,391$2,136$1,300$770$447$216
41 years$3,271$2,033$1,219$710$405$191
42 years$3,157$1,936$1,143$656$368$170
43 years$3,049$1,845$1,073$605$334$151
44 years$2,947$1,759$1,007$559$303$134
45 years$2,849$1,677$946$516$275$119
46 years$2,755$1,600$888$477$250$105
47 years$2,666$1,527$834$440$227$94
48 years$2,581$1,457$784$407$206$83
49 years$2,499$1,392$737$376$187$74
50 years$2,421$1,330$693$348$170$65

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,480,000, adding $5,047 every year, while hoping to spend $50,942 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: 60/34/6 Blend
60$2,480,000$2,480,000$2,480,000$2,480,000
61$2,738,166$2,606,726$2,568,286$2,899,034
62$2,963,257$2,680,254$2,600,122$3,080,807
63$3,209,600$2,755,677$2,631,316$3,272,661
64$3,479,309$2,833,035$2,661,795$3,480,613
65$3,774,711$2,912,366$2,691,478$3,706,213
66$4,098,371$2,993,711$2,720,282$3,951,166
67$4,453,111$3,077,110$2,748,118$4,217,345
68$4,842,041$3,162,600$2,774,892$4,506,816
69$5,268,585$3,250,224$2,800,507$4,821,851
70$5,736,515$3,340,019$2,824,859$5,164,953
71$6,249,986$3,432,027$2,847,838$5,538,875
72$6,813,574$3,526,286$2,869,330$5,946,651
73$7,432,320$3,622,835$2,889,214$6,391,620
74$8,111,777$3,721,713$2,907,362$6,877,460
75$8,858,060$3,822,960$2,923,641$7,408,220
76$9,677,910$3,926,612$2,937,910$7,988,362
77$10,578,748$4,032,708$2,950,022$8,622,798
78$11,568,753$4,141,283$2,959,821$9,316,939
79$12,656,935$4,252,375$2,967,143$10,076,744
80$13,853,218$4,366,017$2,971,818$10,908,780
81$15,168,538$4,482,244$2,973,666$11,820,276
82$16,614,944$4,601,088$2,972,498$12,819,199
83$18,205,707$4,722,581$2,968,117$13,914,326
84$19,955,454$4,846,752$2,960,313$15,115,323
85$21,880,297$4,973,630$2,948,871$16,432,842
86$23,997,990$5,103,240$2,933,560$17,878,616
87$26,328,094$5,235,608$2,914,143$19,465,573
88$28,892,160$5,370,753$2,890,368$21,207,957
89$31,713,938$5,508,697$2,861,972$23,121,460
90$34,819,592$5,649,456$2,828,681$25,223,373
91$38,237,954$5,793,043$2,790,206$27,532,745
92$42,000,793$5,939,469$2,746,245$30,070,567
93$46,143,111$6,088,741$2,696,481$32,859,967
94$50,703,481$6,240,862$2,640,586$35,926,429
95$55,724,402$6,395,830$2,578,211$39,298,033
96$61,252,706$6,553,640$2,508,996$43,005,720
97$67,339,996$6,714,283$2,432,562$47,083,582
98$74,043,134$6,877,741$2,348,511$51,569,188
99$81,424,777$7,043,994$2,256,430$56,503,933
100$89,553,970$7,213,015$2,155,886$61,933,433