Can I retire at age 61 with 2,720,000?

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 $2,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$224,615$222,614$220,662$218,757$216,897$209,284
2 years$111,196$109,125$107,118$105,172$103,284$95,695
3 years$73,394$71,314$69,312$67,384$65,528$58,200
4 years$54,497$52,423$50,442$48,547$46,735$39,724
5 years$43,162$41,101$39,145$37,289$35,527$28,852
6 years$35,607$33,562$31,635$29,820$28,111$21,778
7 years$30,213$28,185$26,289$24,517$22,862$16,868
8 years$26,170$24,160$22,295$20,566$18,966$13,307
9 years$23,027$21,035$19,203$17,518$15,972$10,641
10 years$20,513$18,542$16,741$15,101$13,609$8,596
11 years$18,458$16,507$14,739$13,142$11,704$7,000
12 years$16,747$14,815$13,080$11,527$10,143$5,735
13 years$15,300$13,389$11,686$10,177$8,845$4,723
14 years$14,061$12,170$10,500$9,034$7,753$3,905
15 years$12,988$11,118$9,480$8,057$6,827$3,239
16 years$12,051$10,200$8,595$7,214$6,033$2,693
17 years$11,224$9,394$7,821$6,482$5,350$2,245
18 years$10,490$8,680$7,140$5,841$4,757$1,874
19 years$9,834$8,045$6,536$5,278$4,240$1,567
20 years$9,244$7,476$5,999$4,780$3,787$1,312
21 years$8,712$6,963$5,518$4,338$3,389$1,099
22 years$8,228$6,500$5,085$3,945$3,038$922
23 years$7,787$6,079$4,695$3,592$2,727$774
24 years$7,383$5,696$4,342$3,277$2,451$650
25 years$7,013$5,345$4,022$2,992$2,205$546
26 years$6,671$5,024$3,730$2,736$1,987$459
27 years$6,355$4,728$3,464$2,504$1,791$386
28 years$6,062$4,455$3,220$2,295$1,616$325
29 years$5,790$4,203$2,997$2,104$1,459$273
30 years$5,537$3,969$2,791$1,931$1,319$230
31 years$5,300$3,752$2,602$1,774$1,192$194
32 years$5,079$3,550$2,428$1,630$1,078$163
33 years$4,871$3,362$2,267$1,499$976$137
34 years$4,676$3,187$2,118$1,379$884$115
35 years$4,493$3,023$1,980$1,270$800$97
36 years$4,320$2,869$1,852$1,169$725$82
37 years$4,157$2,725$1,734$1,077$657$69
38 years$4,003$2,589$1,624$993$596$58
39 years$3,857$2,462$1,521$916$540$49
40 years$3,719$2,343$1,426$844$490$41
41 years$3,588$2,230$1,337$779$445$35
42 years$3,463$2,124$1,254$719$403$29
43 years$3,345$2,024$1,177$664$366$25
44 years$3,232$1,929$1,105$613$332$21
45 years$3,124$1,839$1,037$566$302$17
46 years$3,022$1,755$974$523$274$15
47 years$2,924$1,674$915$483$249$12
48 years$2,831$1,599$860$446$226$10
49 years$2,741$1,526$808$412$205$9
50 years$2,656$1,458$760$381$186$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,720,000, adding $3,249 every year, while hoping to spend $32,003 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: 51/30/19 Blend
60$2,720,000$2,720,000$2,720,000$2,720,000
61$3,000,791$2,856,631$2,814,471$3,137,905
62$3,272,821$2,962,555$2,874,705$3,338,687
63$3,571,525$3,072,597$2,935,884$3,553,287
64$3,899,591$3,186,924$2,998,006$3,785,925
65$4,259,978$3,305,712$3,061,068$4,038,319
66$4,655,947$3,429,144$3,125,066$4,312,358
67$5,091,091$3,557,409$3,189,993$4,610,121
68$5,569,368$3,690,707$3,255,843$4,933,893
69$6,095,136$3,829,245$3,322,606$5,286,187
70$6,673,200$3,973,238$3,390,274$5,669,770
71$7,308,852$4,122,912$3,458,833$6,087,685
72$8,007,922$4,278,502$3,528,272$6,543,280
73$8,776,835$4,440,254$3,598,574$7,040,239
74$9,622,669$4,608,423$3,669,722$7,582,619
75$10,553,221$4,783,275$3,741,698$8,174,881
76$11,577,084$4,965,091$3,814,480$8,821,939
77$12,703,726$5,154,159$3,888,044$9,529,200
78$13,943,577$5,350,784$3,962,364$10,302,618
79$15,308,131$5,555,282$4,037,413$11,148,746
80$16,810,053$5,767,982$4,113,158$12,074,799
81$18,463,295$5,989,231$4,189,566$13,088,723
82$20,283,236$6,219,387$4,266,601$14,199,264
83$22,286,815$6,458,827$4,344,221$15,416,055
84$24,492,702$6,707,941$4,422,385$16,749,703
85$26,921,468$6,967,141$4,501,045$18,211,889
86$29,595,779$7,236,852$4,580,151$19,815,477
87$32,540,612$7,517,521$4,659,650$21,574,634
88$35,783,489$7,809,614$4,739,482$23,504,964
89$39,354,736$8,113,617$4,819,587$25,623,652
90$43,287,773$8,430,038$4,899,897$27,949,626
91$47,619,424$8,759,407$4,980,341$30,503,736
92$52,390,267$9,102,280$5,060,844$33,308,948
93$57,645,015$9,459,233$5,141,324$36,390,557
94$63,432,943$9,830,871$5,221,694$39,776,430
95$69,808,346$10,217,826$5,301,863$43,497,262
96$76,831,054$10,620,758$5,381,733$47,586,869
97$84,567,001$11,040,353$5,461,200$52,082,502
98$93,088,838$11,477,333$5,540,153$57,025,198
99$102,476,626$11,932,450$5,618,475$62,460,167
100$112,818,590$12,406,488$5,696,042$68,437,216