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%13.3%
1 years$223,789$221,796$219,851$217,953$216,099$213,134
2 years$110,787$108,723$106,724$104,785$102,904$99,922
3 years$73,124$71,052$69,057$67,137$65,287$62,380
4 years$54,297$52,231$50,256$48,368$46,563$43,755
5 years$43,003$40,950$39,001$37,151$35,397$32,694
6 years$35,476$33,438$31,518$29,710$28,008$25,415
7 years$30,102$28,081$26,192$24,426$22,778$20,296
8 years$26,074$24,071$22,213$20,491$18,897$16,525
9 years$22,942$20,958$19,132$17,454$15,914$13,651
10 years$20,438$18,474$16,680$15,045$13,559$11,404
11 years$18,391$16,446$14,684$13,094$11,661$9,611
12 years$16,686$14,761$13,032$11,485$10,106$8,158
13 years$15,244$13,340$11,643$10,140$8,812$6,965
14 years$14,010$12,125$10,462$9,001$7,725$5,975
15 years$12,941$11,077$9,445$8,027$6,801$5,146
16 years$12,006$10,163$8,564$7,187$6,011$4,448
17 years$11,183$9,359$7,793$6,458$5,330$3,854
18 years$10,451$8,649$7,114$5,820$4,739$3,349
19 years$9,798$8,015$6,512$5,259$4,224$2,915
20 years$9,210$7,448$5,977$4,763$3,773$2,542
21 years$8,680$6,938$5,497$4,322$3,376$2,220
22 years$8,198$6,476$5,067$3,930$3,026$1,942
23 years$7,758$6,057$4,678$3,579$2,717$1,700
24 years$7,356$5,675$4,326$3,264$2,442$1,490
25 years$6,987$5,326$4,007$2,981$2,197$1,307
26 years$6,646$5,005$3,716$2,726$1,979$1,148
27 years$6,332$4,711$3,451$2,495$1,784$1,008
28 years$6,040$4,439$3,208$2,286$1,610$886
29 years$5,769$4,187$2,985$2,096$1,454$779
30 years$5,516$3,955$2,781$1,924$1,314$685
31 years$5,281$3,738$2,593$1,767$1,188$603
32 years$5,060$3,537$2,419$1,624$1,074$531
33 years$4,853$3,350$2,259$1,493$972$468
34 years$4,659$3,175$2,110$1,374$880$412
35 years$4,476$3,011$1,973$1,265$797$363
36 years$4,304$2,858$1,846$1,165$722$320
37 years$4,142$2,715$1,727$1,073$655$282
38 years$3,988$2,580$1,618$989$594$249
39 years$3,843$2,453$1,516$912$538$219
40 years$3,705$2,334$1,421$841$488$193
41 years$3,574$2,222$1,332$776$443$170
42 years$3,450$2,116$1,250$716$402$150
43 years$3,332$2,016$1,172$661$365$133
44 years$3,220$1,922$1,101$611$331$117
45 years$3,113$1,833$1,033$564$301$103
46 years$3,011$1,748$971$521$273$91
47 years$2,913$1,668$912$481$248$80
48 years$2,820$1,593$857$445$225$71
49 years$2,731$1,521$805$411$204$63
50 years$2,646$1,453$757$380$186$55

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 $2,591 every year, while hoping to spend $22,023 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: 59/12/29 Blend
60$2,710,000$2,710,000$2,710,000$2,710,000
61$2,989,093$2,845,463$2,803,458$3,141,671
62$3,270,548$2,961,458$2,873,941$3,362,372
63$3,579,973$3,082,399$2,946,048$3,600,446
64$3,920,199$3,208,505$3,019,809$3,859,692
65$4,294,342$3,340,004$3,095,255$4,142,178
66$4,705,837$3,477,137$3,172,419$4,450,175
67$5,158,470$3,620,154$3,251,332$4,786,185
68$5,656,409$3,769,317$3,332,027$5,152,963
69$6,204,249$3,924,900$3,414,536$5,553,539
70$6,807,052$4,087,189$3,498,892$5,991,250
71$7,470,394$4,256,484$3,585,128$6,469,771
72$8,200,421$4,433,099$3,673,277$6,993,146
73$9,003,905$4,617,362$3,763,373$7,565,829
74$9,888,306$4,809,615$3,855,448$8,192,725
75$10,861,845$5,010,218$3,949,537$8,879,234
76$11,933,580$5,219,546$4,045,674$9,631,302
77$13,113,493$5,437,991$4,143,892$10,455,479
78$14,412,582$5,665,965$4,244,224$11,358,978
79$15,842,965$5,903,897$4,346,706$12,349,743
80$17,417,997$6,152,237$4,451,370$13,436,522
81$19,152,392$6,411,456$4,558,250$14,628,953
82$21,062,364$6,682,047$4,667,380$15,937,649
83$23,165,782$6,964,523$4,778,793$17,374,304
84$25,482,332$7,259,425$4,892,524$18,951,795
85$28,033,710$7,567,317$5,008,603$20,684,309
86$30,843,823$7,888,790$5,127,066$22,587,474
87$33,939,013$8,224,461$5,247,942$24,678,505
88$37,348,309$8,574,977$5,371,266$26,976,368
89$41,103,701$8,941,015$5,497,068$29,501,955
90$45,240,438$9,323,284$5,625,378$32,278,284
91$49,797,362$9,722,524$5,756,228$35,330,713
92$54,817,279$10,139,514$5,889,648$38,687,178
93$60,347,355$10,575,064$6,025,665$42,378,459
94$66,439,569$11,030,026$6,164,308$46,438,465
95$73,151,197$11,505,289$6,305,605$50,904,557
96$80,545,358$12,001,786$6,449,581$55,817,898
97$88,691,604$12,520,493$6,596,261$61,223,842
98$97,666,581$13,062,431$6,745,670$67,172,358
99$107,554,752$13,628,670$6,897,829$73,718,502
100$118,449,191$14,220,329$7,052,761$80,922,938