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

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 $2,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$218,009$216,067$214,172$212,323$210,517$206,098
2 years$107,925$105,915$103,967$102,078$100,246$95,815
3 years$71,235$69,217$67,274$65,403$63,600$59,295
4 years$52,894$50,882$48,958$47,119$45,360$41,214
5 years$41,892$39,892$37,993$36,192$34,482$30,507
6 years$34,560$32,575$30,704$28,943$27,285$23,485
7 years$29,325$27,356$25,515$23,796$22,190$18,566
8 years$25,400$23,449$21,639$19,961$18,408$14,959
9 years$22,349$20,417$18,638$17,003$15,503$12,226
10 years$19,910$17,996$16,249$14,657$13,209$10,101
11 years$17,916$16,021$14,305$12,756$11,360$8,418
12 years$16,255$14,380$12,695$11,188$9,844$7,063
13 years$14,850$12,995$11,343$9,878$8,585$5,959
14 years$13,648$11,812$10,191$8,768$7,525$5,050
15 years$12,606$10,791$9,201$7,820$6,626$4,296
16 years$11,696$9,900$8,342$7,002$5,856$3,666
17 years$10,894$9,118$7,591$6,291$5,192$3,137
18 years$10,181$8,425$6,930$5,669$4,617$2,690
19 years$9,545$7,808$6,344$5,123$4,115$2,311
20 years$8,973$7,256$5,822$4,640$3,676$1,988
21 years$8,455$6,759$5,355$4,211$3,289$1,713
22 years$7,986$6,309$4,936$3,829$2,948$1,478
23 years$7,558$5,901$4,557$3,487$2,647$1,276
24 years$7,166$5,528$4,215$3,180$2,379$1,102
25 years$6,806$5,188$3,904$2,904$2,141$953
26 years$6,475$4,876$3,620$2,656$1,928$825
27 years$6,168$4,589$3,362$2,431$1,738$714
28 years$5,884$4,324$3,125$2,227$1,569$619
29 years$5,620$4,079$2,908$2,042$1,416$536
30 years$5,374$3,852$2,709$1,874$1,280$465
31 years$5,144$3,642$2,526$1,721$1,157$403
32 years$4,929$3,446$2,356$1,582$1,047$350
33 years$4,728$3,263$2,200$1,455$947$303
34 years$4,539$3,093$2,056$1,339$858$263
35 years$4,361$2,934$1,922$1,232$777$228
36 years$4,193$2,784$1,798$1,135$704$198
37 years$4,035$2,645$1,683$1,046$638$172
38 years$3,885$2,513$1,576$964$578$149
39 years$3,743$2,390$1,476$889$524$130
40 years$3,609$2,274$1,384$820$476$113
41 years$3,482$2,164$1,298$756$432$98
42 years$3,361$2,061$1,217$698$392$85
43 years$3,246$1,964$1,142$644$355$74
44 years$3,137$1,872$1,072$595$323$64
45 years$3,032$1,785$1,007$549$293$56
46 years$2,933$1,703$946$507$266$48
47 years$2,838$1,625$888$469$241$42
48 years$2,747$1,551$835$433$219$36
49 years$2,661$1,482$785$400$199$32
50 years$2,578$1,415$738$370$181$28

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 $5,700 every year, while hoping to spend $47,170 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: 44/44/12 Blend
60$2,640,000$2,640,000$2,640,000$2,640,000
61$2,915,160$2,775,240$2,734,320$3,033,138
62$3,162,317$2,861,038$2,775,731$3,201,667
63$3,433,104$2,949,459$2,816,948$3,379,002
64$3,729,881$3,040,582$2,857,916$3,570,157
65$4,055,246$3,134,489$2,898,574$3,776,425
66$4,412,064$3,231,261$2,938,859$3,999,223
67$4,803,487$3,330,986$2,978,703$4,240,113
68$5,232,990$3,433,751$3,018,036$4,500,811
69$5,704,397$3,539,647$3,056,783$4,783,204
70$6,221,924$3,648,768$3,094,864$5,089,369
71$6,790,212$3,761,210$3,132,194$5,421,592
72$7,414,376$3,877,071$3,168,684$5,782,386
73$8,100,049$3,996,454$3,204,241$6,174,519
74$8,853,436$4,119,463$3,238,766$6,601,036
75$9,681,375$4,246,205$3,272,154$7,065,289
76$10,591,399$4,376,792$3,304,294$7,570,967
77$11,591,804$4,511,338$3,335,070$8,122,133
78$12,691,732$4,649,958$3,364,360$8,723,258
79$13,901,257$4,792,774$3,392,034$9,379,266
80$15,231,475$4,939,910$3,417,957$10,095,578
81$16,694,613$5,091,492$3,441,985$10,878,163
82$18,304,140$5,247,652$3,463,968$11,733,595
83$20,074,900$5,408,525$3,483,749$12,669,113
84$22,023,244$5,574,247$3,501,159$13,692,690
85$24,167,193$5,744,962$3,516,025$14,813,107
86$26,526,597$5,920,817$3,528,163$16,040,035
87$29,123,333$6,101,959$3,537,379$17,384,126
88$31,981,503$6,288,546$3,543,472$18,857,114
89$35,127,666$6,480,734$3,546,227$20,471,923
90$38,591,084$6,678,686$3,545,423$22,242,790
91$42,404,004$6,882,571$3,540,824$24,185,399
92$46,601,956$7,092,560$3,532,184$26,317,026
93$51,224,090$7,308,830$3,519,247$28,656,706
94$56,313,546$7,531,563$3,501,741$31,225,407
95$61,917,863$7,760,944$3,479,384$34,046,229
96$68,089,420$7,997,165$3,451,879$37,144,622
97$74,885,938$8,240,423$3,418,914$40,548,627
98$82,371,019$8,490,920$3,380,163$44,289,137
99$90,614,751$8,748,863$3,335,286$48,400,188
100$99,694,363$9,014,464$3,283,926$52,919,283