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%19.5%
1 years$204,796$202,972$201,192$199,455$197,759$190,213
2 years$101,384$99,496$97,666$95,892$94,171$86,657
3 years$66,918$65,022$63,196$61,439$59,746$52,501
4 years$49,688$47,798$45,991$44,263$42,611$35,690
5 years$39,353$37,474$35,691$33,998$32,392$25,813
6 years$32,465$30,600$28,843$27,189$25,631$19,398
7 years$27,548$25,698$23,969$22,353$20,845$14,956
8 years$23,861$22,028$20,328$18,752$17,293$11,743
9 years$20,995$19,179$17,508$15,972$14,563$9,344
10 years$18,703$16,906$15,264$13,768$12,408$7,511
11 years$16,830$15,050$13,438$11,983$10,672$6,084
12 years$15,270$13,508$11,926$10,510$9,248$4,959
13 years$13,950$12,207$10,655$9,279$8,064$4,061
14 years$12,821$11,096$9,574$8,237$7,069$3,339
15 years$11,842$10,137$8,644$7,346$6,224$2,753
16 years$10,987$9,300$7,837$6,577$5,501$2,276
17 years$10,234$8,565$7,131$5,910$4,878$1,886
18 years$9,564$7,915$6,510$5,326$4,337$1,565
19 years$8,966$7,335$5,959$4,812$3,866$1,301
20 years$8,429$6,816$5,469$4,359$3,453$1,082
21 years$7,943$6,349$5,031$3,956$3,090$902
22 years$7,502$5,927$4,637$3,597$2,770$751
23 years$7,100$5,543$4,281$3,275$2,486$627
24 years$6,732$5,193$3,959$2,987$2,235$523
25 years$6,394$4,874$3,667$2,728$2,011$437
26 years$6,082$4,581$3,401$2,495$1,811$365
27 years$5,794$4,311$3,158$2,283$1,633$305
28 years$5,527$4,062$2,936$2,092$1,474$255
29 years$5,279$3,832$2,732$1,918$1,331$213
30 years$5,048$3,619$2,545$1,761$1,202$178
31 years$4,832$3,421$2,373$1,617$1,087$149
32 years$4,631$3,237$2,214$1,486$983$124
33 years$4,441$3,066$2,067$1,367$890$104
34 years$4,264$2,905$1,931$1,257$806$87
35 years$4,096$2,756$1,805$1,157$730$73
36 years$3,939$2,616$1,689$1,066$661$61
37 years$3,790$2,484$1,581$982$599$51
38 years$3,650$2,361$1,480$905$543$43
39 years$3,517$2,245$1,387$835$493$36
40 years$3,391$2,136$1,300$770$447$30
41 years$3,271$2,033$1,219$710$405$25
42 years$3,157$1,936$1,143$656$368$21
43 years$3,049$1,845$1,073$605$334$17
44 years$2,947$1,759$1,007$559$303$15
45 years$2,849$1,677$946$516$275$12
46 years$2,755$1,600$888$477$250$10
47 years$2,666$1,527$834$440$227$9
48 years$2,581$1,457$784$407$206$7
49 years$2,499$1,392$737$376$187$6
50 years$2,421$1,330$693$348$170$5

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 $6,811 every year, while hoping to spend $52,899 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: 62/14/24 Blend
60$2,480,000$2,480,000$2,480,000$2,480,000
61$2,739,986$2,608,546$2,570,106$2,892,099
62$2,963,180$2,680,080$2,599,920$3,067,442
63$3,207,367$2,753,347$2,628,960$3,252,382
64$3,474,633$2,828,375$2,657,144$3,453,141
65$3,767,273$2,905,193$2,684,387$3,671,270
66$4,087,817$2,983,830$2,710,595$3,908,480
67$4,439,049$3,064,312$2,735,675$4,166,653
68$4,824,036$3,146,668$2,759,525$4,447,864
69$5,246,157$3,230,923$2,782,038$4,754,399
70$5,709,131$3,317,105$2,803,102$5,088,775
71$6,217,056$3,405,237$2,822,600$5,453,766
72$6,774,446$3,495,343$2,840,407$5,852,430
73$7,386,272$3,587,447$2,856,393$6,288,135
74$8,058,010$3,681,571$2,870,421$6,764,590
75$8,795,693$3,777,734$2,882,346$7,285,887
76$9,605,967$3,875,956$2,892,017$7,856,529
77$10,496,152$3,976,254$2,899,276$8,481,483
78$11,474,312$4,078,643$2,903,955$9,166,219
79$12,549,333$4,183,137$2,905,878$9,916,767
80$13,731,001$4,289,748$2,904,862$10,739,770
81$15,030,102$4,398,484$2,900,713$11,642,549
82$16,458,515$4,509,352$2,893,229$12,633,174
83$18,029,329$4,622,356$2,882,198$13,720,534
84$19,756,966$4,737,497$2,867,397$14,914,429
85$21,657,314$4,854,772$2,848,592$16,225,655
86$23,747,879$4,974,175$2,825,540$17,666,113
87$26,047,950$5,095,697$2,797,982$19,248,917
88$28,578,778$5,219,323$2,765,652$20,988,517
89$31,363,780$5,345,037$2,728,268$22,900,842
90$34,428,756$5,472,814$2,685,535$25,003,442
91$37,802,135$5,602,627$2,637,146$27,315,661
92$41,515,240$5,734,443$2,582,778$29,858,817
93$45,602,586$5,868,223$2,522,093$32,656,401
94$50,102,205$6,003,920$2,454,738$35,734,304
95$55,056,001$6,141,484$2,380,343$39,121,060
96$60,510,151$6,280,855$2,298,522$42,848,112
97$66,515,535$6,421,965$2,208,871$46,950,114
98$73,128,219$6,564,740$2,110,967$51,465,259
99$80,409,981$6,709,097$2,004,369$56,435,633
100$88,428,898$6,854,941$1,888,614$61,907,621