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

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$204,796$202,972$201,192$199,455$197,759$196,843
2 years$101,384$99,496$97,666$95,892$94,171$93,246
3 years$66,918$65,022$63,196$61,439$59,746$58,841
4 years$49,688$47,798$45,991$44,263$42,611$41,734
5 years$39,353$37,474$35,691$33,998$32,392$31,544
6 years$32,465$30,600$28,843$27,189$25,631$24,814
7 years$27,548$25,698$23,969$22,353$20,845$20,059
8 years$23,861$22,028$20,328$18,752$17,293$16,538
9 years$20,995$19,179$17,508$15,972$14,563$13,839
10 years$18,703$16,906$15,264$13,768$12,408$11,715
11 years$16,830$15,050$13,438$11,983$10,672$10,008
12 years$15,270$13,508$11,926$10,510$9,248$8,614
13 years$13,950$12,207$10,655$9,279$8,064$7,460
14 years$12,821$11,096$9,574$8,237$7,069$6,493
15 years$11,842$10,137$8,644$7,346$6,224$5,676
16 years$10,987$9,300$7,837$6,577$5,501$4,979
17 years$10,234$8,565$7,131$5,910$4,878$4,382
18 years$9,564$7,915$6,510$5,326$4,337$3,867
19 years$8,966$7,335$5,959$4,812$3,866$3,420
20 years$8,429$6,816$5,469$4,359$3,453$3,031
21 years$7,943$6,349$5,031$3,956$3,090$2,691
22 years$7,502$5,927$4,637$3,597$2,770$2,393
23 years$7,100$5,543$4,281$3,275$2,486$2,130
24 years$6,732$5,193$3,959$2,987$2,235$1,899
25 years$6,394$4,874$3,667$2,728$2,011$1,694
26 years$6,082$4,581$3,401$2,495$1,811$1,513
27 years$5,794$4,311$3,158$2,283$1,633$1,353
28 years$5,527$4,062$2,936$2,092$1,474$1,210
29 years$5,279$3,832$2,732$1,918$1,331$1,083
30 years$5,048$3,619$2,545$1,761$1,202$970
31 years$4,832$3,421$2,373$1,617$1,087$869
32 years$4,631$3,237$2,214$1,486$983$779
33 years$4,441$3,066$2,067$1,367$890$699
34 years$4,264$2,905$1,931$1,257$806$627
35 years$4,096$2,756$1,805$1,157$730$563
36 years$3,939$2,616$1,689$1,066$661$505
37 years$3,790$2,484$1,581$982$599$454
38 years$3,650$2,361$1,480$905$543$408
39 years$3,517$2,245$1,387$835$493$366
40 years$3,391$2,136$1,300$770$447$329
41 years$3,271$2,033$1,219$710$405$296
42 years$3,157$1,936$1,143$656$368$266
43 years$3,049$1,845$1,073$605$334$239
44 years$2,947$1,759$1,007$559$303$215
45 years$2,849$1,677$946$516$275$193
46 years$2,755$1,600$888$477$250$174
47 years$2,666$1,527$834$440$227$156
48 years$2,581$1,457$784$407$206$141
49 years$2,499$1,392$737$376$187$126
50 years$2,421$1,330$693$348$170$114

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 $6,973 every year, while hoping to spend $22,316 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: 62/33/5 Blend
60$2,480,000$2,480,000$2,480,000$2,480,000
61$2,740,153$2,608,713$2,570,273$2,907,476
62$2,995,904$2,712,796$2,632,633$3,123,977
63$3,276,994$2,821,231$2,696,334$3,356,918
64$3,585,984$2,934,207$2,761,398$3,610,566
65$3,925,695$3,051,924$2,827,845$3,886,919
66$4,299,236$3,174,588$2,895,698$4,188,172
67$4,710,031$3,302,416$2,964,977$4,516,743
68$5,161,854$3,435,634$3,035,703$4,875,288
69$5,658,862$3,574,479$3,107,898$5,266,731
70$6,205,636$3,719,198$3,181,582$5,694,289
71$6,807,222$3,870,050$3,256,776$6,161,500
72$7,469,181$4,027,305$3,333,500$6,672,259
73$8,197,639$4,191,245$3,411,775$7,230,850
74$8,999,349$4,362,166$3,491,620$7,841,989
75$9,881,747$4,540,377$3,573,054$8,510,866
76$10,853,031$4,726,202$3,656,097$9,243,195
77$11,922,232$4,919,977$3,740,768$10,045,264
78$13,099,300$5,122,056$3,827,084$10,923,994
79$14,395,200$5,332,808$3,915,063$11,887,007
80$15,822,015$5,552,620$4,004,722$12,942,693
81$17,393,058$5,781,896$4,096,077$14,100,287
82$19,122,999$6,021,058$4,189,145$15,369,961
83$21,028,003$6,270,548$4,283,940$16,762,914
84$23,125,883$6,530,829$4,380,475$18,291,476
85$25,436,267$6,802,384$4,478,765$19,969,226
86$27,980,784$7,085,718$4,578,822$21,811,117
87$30,783,267$7,381,362$4,680,656$23,833,619
88$33,869,980$7,689,868$4,784,277$26,054,866
89$37,269,862$8,011,815$4,889,694$28,494,833
90$41,014,804$8,347,810$4,996,915$31,175,519
91$45,139,947$8,698,486$5,105,945$34,121,155
92$49,684,017$9,064,507$5,216,789$37,358,427
93$54,689,685$9,446,567$5,329,450$40,916,733
94$60,203,976$9,845,391$5,443,929$44,828,452
95$66,278,706$10,261,740$5,560,226$49,129,252
96$72,970,977$10,696,408$5,678,337$53,858,421
97$80,343,713$11,150,229$5,798,257$59,059,239
98$88,466,253$11,624,072$5,919,981$64,779,383
99$97,415,009$12,118,849$6,043,497$71,071,376
100$107,274,181$12,635,513$6,168,796$77,993,076