Can I retire at age 61 with 2,640,000?

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 $2,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$218,009$216,067$214,172$212,323$210,517$207,973
2 years$107,925$105,915$103,967$102,078$100,246$97,686
3 years$71,235$69,217$67,274$65,403$63,600$61,103
4 years$52,894$50,882$48,958$47,119$45,360$42,946
5 years$41,892$39,892$37,993$36,192$34,482$32,157
6 years$34,560$32,575$30,704$28,943$27,285$25,052
7 years$29,325$27,356$25,515$23,796$22,190$20,050
8 years$25,400$23,449$21,639$19,961$18,408$16,362
9 years$22,349$20,417$18,638$17,003$15,503$13,548
10 years$19,910$17,996$16,249$14,657$13,209$11,346
11 years$17,916$16,021$14,305$12,756$11,360$9,586
12 years$16,255$14,380$12,695$11,188$9,844$8,158
13 years$14,850$12,995$11,343$9,878$8,585$6,983
14 years$13,648$11,812$10,191$8,768$7,525$6,007
15 years$12,606$10,791$9,201$7,820$6,626$5,187
16 years$11,696$9,900$8,342$7,002$5,856$4,495
17 years$10,894$9,118$7,591$6,291$5,192$3,907
18 years$10,181$8,425$6,930$5,669$4,617$3,404
19 years$9,545$7,808$6,344$5,123$4,115$2,972
20 years$8,973$7,256$5,822$4,640$3,676$2,599
21 years$8,455$6,759$5,355$4,211$3,289$2,277
22 years$7,986$6,309$4,936$3,829$2,948$1,998
23 years$7,558$5,901$4,557$3,487$2,647$1,754
24 years$7,166$5,528$4,215$3,180$2,379$1,542
25 years$6,806$5,188$3,904$2,904$2,141$1,357
26 years$6,475$4,876$3,620$2,656$1,928$1,195
27 years$6,168$4,589$3,362$2,431$1,738$1,053
28 years$5,884$4,324$3,125$2,227$1,569$929
29 years$5,620$4,079$2,908$2,042$1,416$819
30 years$5,374$3,852$2,709$1,874$1,280$723
31 years$5,144$3,642$2,526$1,721$1,157$639
32 years$4,929$3,446$2,356$1,582$1,047$564
33 years$4,728$3,263$2,200$1,455$947$499
34 years$4,539$3,093$2,056$1,339$858$441
35 years$4,361$2,934$1,922$1,232$777$390
36 years$4,193$2,784$1,798$1,135$704$344
37 years$4,035$2,645$1,683$1,046$638$305
38 years$3,885$2,513$1,576$964$578$270
39 years$3,743$2,390$1,476$889$524$238
40 years$3,609$2,274$1,384$820$476$211
41 years$3,482$2,164$1,298$756$432$187
42 years$3,361$2,061$1,217$698$392$165
43 years$3,246$1,964$1,142$644$355$146
44 years$3,137$1,872$1,072$595$323$129
45 years$3,032$1,785$1,007$549$293$115
46 years$2,933$1,703$946$507$266$101
47 years$2,838$1,625$888$469$241$90
48 years$2,747$1,551$835$433$219$80
49 years$2,661$1,482$785$400$199$70
50 years$2,578$1,415$738$370$181$62

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,640,000, adding $3,127 every year, while hoping to spend $42,170 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: 67/9/24 Blend
60$2,640,000$2,640,000$2,640,000$2,640,000
61$2,912,506$2,772,586$2,731,666$3,089,481
62$3,164,713$2,863,574$2,778,308$3,299,740
63$3,441,231$2,957,607$2,825,099$3,524,503
64$3,744,497$3,054,790$2,872,000$3,769,342
65$4,077,192$3,155,231$2,918,969$4,036,239
66$4,442,271$3,259,042$2,965,959$4,327,373
67$4,842,988$3,366,341$3,012,924$4,645,147
68$5,282,927$3,477,246$3,059,812$4,992,205
69$5,766,038$3,591,884$3,106,568$5,371,463
70$6,296,670$3,710,382$3,153,134$5,786,130
71$6,879,616$3,832,876$3,199,449$6,239,741
72$7,520,153$3,959,503$3,245,447$6,736,190
73$8,224,098$4,090,408$3,291,059$7,279,769
74$8,997,857$4,225,739$3,336,210$7,875,203
75$9,848,489$4,365,651$3,380,824$8,527,699
76$10,783,770$4,510,303$3,424,817$9,242,994
77$11,812,269$4,659,862$3,468,102$10,027,408
78$12,943,423$4,814,498$3,510,586$10,887,904
79$14,187,634$4,974,390$3,552,173$11,832,152
80$15,556,359$5,139,722$3,592,757$12,868,606
81$17,062,225$5,310,685$3,632,232$14,006,578
82$18,719,141$5,487,478$3,670,481$15,256,330
83$20,542,434$5,670,306$3,707,383$16,629,167
84$22,548,993$5,859,381$3,742,810$18,137,546
85$24,757,424$6,054,924$3,776,628$19,795,195
86$27,188,231$6,257,165$3,808,695$21,617,237
87$29,864,005$6,466,341$3,838,861$23,620,339
88$32,809,639$6,682,697$3,866,968$25,822,864
89$36,052,562$6,906,489$3,892,852$28,245,048
90$39,622,998$7,137,982$3,916,337$30,909,188
91$43,554,251$7,377,450$3,937,241$33,839,854
92$47,883,017$7,625,177$3,955,371$37,064,121
93$52,649,733$7,881,459$3,970,524$40,611,822
94$57,898,958$8,146,603$3,982,489$44,515,833
95$63,679,790$8,420,925$3,991,041$48,812,381
96$70,046,335$8,704,757$3,995,947$53,541,387
97$77,058,210$8,998,438$3,996,960$58,746,840
98$84,781,111$9,302,326$3,993,822$64,477,217
99$93,287,432$9,616,787$3,986,263$70,785,936
100$102,656,945$9,942,205$3,973,997$77,731,862