Can I retire at age 61 with 2,520,000?

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 $2,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$208,099$206,246$204,437$202,672$200,948$199,348
2 years$103,019$101,101$99,241$97,438$95,690$94,076
3 years$67,997$66,070$64,216$62,430$60,709$59,133
4 years$50,490$48,569$46,733$44,977$43,299$41,772
5 years$39,988$38,079$36,266$34,547$32,915$31,442
6 years$32,989$31,094$29,309$27,627$26,044$24,627
7 years$27,992$26,113$24,356$22,714$21,181$19,820
8 years$24,246$22,383$20,655$19,054$17,572$16,267
9 years$21,333$19,489$17,791$16,230$14,798$13,549
10 years$19,005$17,178$15,510$13,990$12,609$11,415
11 years$17,101$15,293$13,655$12,176$10,844$9,704
12 years$15,516$13,726$12,118$10,680$9,397$8,311
13 years$14,175$12,404$10,827$9,429$8,194$7,160
14 years$13,027$11,275$9,728$8,370$7,183$6,200
15 years$12,033$10,300$8,783$7,464$6,325$5,391
16 years$11,165$9,450$7,963$6,683$5,590$4,704
17 years$10,399$8,703$7,246$6,005$4,956$4,117
18 years$9,719$8,042$6,615$5,412$4,407$3,612
19 years$9,111$7,453$6,056$4,890$3,928$3,177
20 years$8,565$6,926$5,558$4,429$3,508$2,799
21 years$8,071$6,451$5,112$4,019$3,140$2,470
22 years$7,623$6,022$4,711$3,655$2,814$2,183
23 years$7,214$5,632$4,350$3,328$2,526$1,932
24 years$6,840$5,277$4,023$3,036$2,271$1,712
25 years$6,497$4,952$3,726$2,772$2,043$1,518
26 years$6,180$4,654$3,456$2,535$1,840$1,348
27 years$5,888$4,380$3,209$2,320$1,659$1,197
28 years$5,617$4,128$2,983$2,126$1,497$1,064
29 years$5,364$3,894$2,776$1,949$1,352$946
30 years$5,130$3,677$2,586$1,789$1,222$842
31 years$4,910$3,476$2,411$1,643$1,104$750
32 years$4,705$3,289$2,249$1,510$999$668
33 years$4,513$3,115$2,100$1,389$904$595
34 years$4,332$2,952$1,962$1,278$819$530
35 years$4,162$2,800$1,835$1,176$741$473
36 years$4,002$2,658$1,716$1,083$672$422
37 years$3,851$2,524$1,606$998$609$376
38 years$3,708$2,399$1,504$920$552$336
39 years$3,573$2,281$1,409$848$501$299
40 years$3,445$2,170$1,321$782$454$267
41 years$3,324$2,066$1,239$722$412$238
42 years$3,208$1,968$1,162$666$374$213
43 years$3,099$1,875$1,090$615$339$190
44 years$2,994$1,787$1,023$568$308$170
45 years$2,895$1,704$961$524$280$152
46 years$2,800$1,626$903$484$254$135
47 years$2,709$1,551$848$447$230$121
48 years$2,622$1,481$797$414$209$108
49 years$2,540$1,414$749$382$190$96
50 years$2,460$1,351$704$353$173$86

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,520,000, adding $2,168 every year, while hoping to spend $58,019 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: 90/5/5 Blend
60$2,520,000$2,520,000$2,520,000$2,520,000
61$2,779,276$2,645,716$2,606,656$3,029,738
62$3,001,031$2,713,625$2,632,248$3,260,695
63$3,243,460$2,782,916$2,656,751$3,506,223
64$3,508,610$2,853,597$2,680,071$3,774,304
65$3,798,737$2,925,672$2,702,102$4,067,169
66$4,116,323$2,999,144$2,722,737$4,387,276
67$4,464,102$3,074,016$2,741,862$4,737,329
68$4,845,083$3,150,285$2,759,357$5,120,308
69$5,262,581$3,227,950$2,775,096$5,539,495
70$5,720,249$3,307,003$2,788,946$5,998,503
71$6,222,107$3,387,439$2,800,768$6,501,314
72$6,772,583$3,469,245$2,810,415$7,052,313
73$7,376,556$3,552,408$2,817,734$7,656,328
74$8,039,400$3,636,910$2,822,563$8,318,680
75$8,767,032$3,722,733$2,824,732$9,045,230
76$9,565,973$3,809,850$2,824,064$9,842,433
77$10,443,403$3,898,234$2,820,371$10,717,402
78$11,407,236$3,987,852$2,813,459$11,677,971
79$12,466,185$4,078,668$2,803,121$12,732,772
80$13,629,852$4,170,639$2,789,142$13,891,315
81$14,908,815$4,263,719$2,771,296$15,164,077
82$16,314,727$4,357,854$2,749,347$16,562,599
83$17,860,427$4,452,986$2,723,048$18,099,601
84$19,560,057$4,549,050$2,692,137$19,789,094
85$21,429,203$4,645,973$2,656,344$21,646,516
86$23,485,034$4,743,678$2,615,383$23,688,878
87$25,746,466$4,842,076$2,568,957$25,934,920
88$28,234,341$4,941,074$2,516,753$28,405,295
89$30,971,625$5,040,568$2,458,445$31,122,756
90$33,983,619$5,140,444$2,393,691$34,112,375
91$37,298,203$5,240,580$2,322,134$37,401,778
92$40,946,094$5,340,842$2,243,400$41,021,405
93$44,961,139$5,441,087$2,157,098$45,004,798
94$49,380,633$5,541,158$2,062,818$49,388,917
95$54,245,669$5,640,887$1,960,134$54,214,488
96$59,601,528$5,740,091$1,848,599$59,526,387
97$65,498,102$5,838,574$1,727,746$65,374,066
98$71,990,370$5,936,125$1,597,087$71,812,014
99$79,138,910$6,032,517$1,456,111$78,900,276
100$87,010,475$6,127,507$1,304,287$86,705,018