Can I retire at age 61 with 2,710,000?

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 $2,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$223,789$221,796$219,851$217,953$216,099$211,218
2 years$110,787$108,723$106,724$104,785$102,904$98,013
3 years$73,124$71,052$69,057$67,137$65,287$60,538
4 years$54,297$52,231$50,256$48,368$46,563$41,993
5 years$43,003$40,950$39,001$37,151$35,397$31,018
6 years$35,476$33,438$31,518$29,710$28,008$23,826
7 years$30,102$28,081$26,192$24,426$22,778$18,793
8 years$26,074$24,071$22,213$20,491$18,897$15,108
9 years$22,942$20,958$19,132$17,454$15,914$12,317
10 years$20,438$18,474$16,680$15,045$13,559$10,152
11 years$18,391$16,446$14,684$13,094$11,661$8,438
12 years$16,686$14,761$13,032$11,485$10,106$7,062
13 years$15,244$13,340$11,643$10,140$8,812$5,942
14 years$14,010$12,125$10,462$9,001$7,725$5,022
15 years$12,941$11,077$9,445$8,027$6,801$4,261
16 years$12,006$10,163$8,564$7,187$6,011$3,625
17 years$11,183$9,359$7,793$6,458$5,330$3,093
18 years$10,451$8,649$7,114$5,820$4,739$2,644
19 years$9,798$8,015$6,512$5,259$4,224$2,265
20 years$9,210$7,448$5,977$4,763$3,773$1,943
21 years$8,680$6,938$5,497$4,322$3,376$1,669
22 years$8,198$6,476$5,067$3,930$3,026$1,435
23 years$7,758$6,057$4,678$3,579$2,717$1,235
24 years$7,356$5,675$4,326$3,264$2,442$1,064
25 years$6,987$5,326$4,007$2,981$2,197$917
26 years$6,646$5,005$3,716$2,726$1,979$791
27 years$6,332$4,711$3,451$2,495$1,784$683
28 years$6,040$4,439$3,208$2,286$1,610$590
29 years$5,769$4,187$2,985$2,096$1,454$509
30 years$5,516$3,955$2,781$1,924$1,314$440
31 years$5,281$3,738$2,593$1,767$1,188$380
32 years$5,060$3,537$2,419$1,624$1,074$329
33 years$4,853$3,350$2,259$1,493$972$284
34 years$4,659$3,175$2,110$1,374$880$246
35 years$4,476$3,011$1,973$1,265$797$213
36 years$4,304$2,858$1,846$1,165$722$184
37 years$4,142$2,715$1,727$1,073$655$159
38 years$3,988$2,580$1,618$989$594$138
39 years$3,843$2,453$1,516$912$538$119
40 years$3,705$2,334$1,421$841$488$103
41 years$3,574$2,222$1,332$776$443$89
42 years$3,450$2,116$1,250$716$402$77
43 years$3,332$2,016$1,172$661$365$67
44 years$3,220$1,922$1,101$611$331$58
45 years$3,113$1,833$1,033$564$301$50
46 years$3,011$1,748$971$521$273$43
47 years$2,913$1,668$912$481$248$38
48 years$2,820$1,593$857$445$225$32
49 years$2,731$1,521$805$411$204$28
50 years$2,646$1,453$757$380$186$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,710,000, adding $5,517 every year, while hoping to spend $49,629 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: 74/16/10 Blend
60$2,710,000$2,710,000$2,710,000$2,710,000
61$2,992,111$2,848,481$2,806,476$3,207,652
62$3,244,501$2,935,251$2,847,688$3,437,364
63$3,520,972$3,024,611$2,888,617$3,682,192
64$3,823,927$3,116,633$2,929,202$3,949,034
65$4,156,014$3,211,394$2,969,376$4,240,055
66$4,520,148$3,308,973$3,009,071$4,557,637
67$4,919,541$3,409,450$3,048,213$4,904,406
68$5,357,729$3,512,908$3,086,723$5,283,253
69$5,838,610$3,619,433$3,124,520$5,697,360
70$6,366,473$3,729,110$3,161,517$6,150,233
71$6,946,046$3,842,030$3,197,621$6,645,732
72$7,582,537$3,958,283$3,232,735$7,188,110
73$8,281,683$4,077,965$3,266,758$7,782,049
74$9,049,801$4,201,172$3,299,581$8,432,708
75$9,893,854$4,328,003$3,331,090$9,145,769
76$10,821,511$4,458,559$3,361,166$9,927,492
77$11,841,221$4,592,945$3,389,681$10,784,770
78$12,962,293$4,731,267$3,416,503$11,725,199
79$14,194,982$4,873,634$3,441,491$12,757,147
80$15,550,588$5,020,159$3,464,499$13,889,831
81$17,041,558$5,170,958$3,485,370$15,133,407
82$18,681,609$5,326,147$3,503,941$16,499,061
83$20,485,852$5,485,847$3,520,043$17,999,122
84$22,470,938$5,650,182$3,533,493$19,647,168
85$24,655,211$5,819,279$3,544,102$21,458,162
86$27,058,886$5,993,267$3,551,673$23,448,590
87$29,704,235$6,172,279$3,555,996$25,636,614
88$32,615,797$6,356,450$3,556,852$28,042,248
89$35,820,613$6,545,921$3,554,011$30,687,541
90$39,348,477$6,740,833$3,547,233$33,596,790
91$43,232,219$6,941,332$3,536,263$36,796,766
92$47,508,015$7,147,566$3,520,837$40,316,966
93$52,215,724$7,359,689$3,500,676$44,189,894
94$57,399,269$7,577,854$3,475,490$48,451,362
95$63,107,048$7,802,223$3,444,973$53,140,835
96$69,392,392$8,032,957$3,408,804$58,301,796
97$76,314,066$8,270,222$3,366,649$63,982,163
98$83,936,826$8,514,188$3,318,157$70,234,734
99$92,332,028$8,765,028$3,262,961$77,117,689
100$101,578,299$9,022,920$3,200,675$84,695,140