Can I retire at age 61 with 2,740,000?

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$226,267$224,251$222,285$220,366$218,491$217,114
2 years$112,013$109,927$107,905$105,945$104,044$102,655
3 years$73,934$71,839$69,822$67,880$66,010$64,652
4 years$54,898$52,809$50,812$48,904$47,079$45,762
5 years$43,479$41,403$39,433$37,563$35,788$34,517
6 years$35,869$33,809$31,867$30,039$28,318$27,094
7 years$30,436$28,392$26,482$24,697$23,030$21,854
8 years$26,362$24,337$22,459$20,718$19,106$17,977
9 years$23,196$21,190$19,344$17,647$16,090$15,008
10 years$20,664$18,678$16,864$15,212$13,709$12,675
11 years$18,594$16,628$14,847$13,239$11,790$10,802
12 years$16,870$14,924$13,176$11,612$10,217$9,274
13 years$15,413$13,487$11,772$10,252$8,910$8,011
14 years$14,165$12,260$10,577$9,100$7,810$6,954
15 years$13,084$11,199$9,550$8,116$6,877$6,063
16 years$12,139$10,275$8,658$7,267$6,078$5,305
17 years$11,307$9,463$7,879$6,529$5,389$4,655
18 years$10,567$8,744$7,192$5,884$4,792$4,097
19 years$9,906$8,104$6,584$5,317$4,271$3,613
20 years$9,312$7,531$6,043$4,815$3,815$3,193
21 years$8,776$7,015$5,558$4,370$3,414$2,826
22 years$8,288$6,548$5,123$3,974$3,060$2,505
23 years$7,844$6,124$4,730$3,619$2,747$2,224
24 years$7,438$5,738$4,374$3,301$2,469$1,976
25 years$7,064$5,385$4,052$3,014$2,222$1,758
26 years$6,720$5,061$3,758$2,756$2,001$1,565
27 years$6,402$4,763$3,489$2,523$1,804$1,395
28 years$6,107$4,488$3,244$2,311$1,628$1,244
29 years$5,833$4,234$3,019$2,120$1,470$1,110
30 years$5,577$3,998$2,812$1,945$1,328$991
31 years$5,339$3,780$2,621$1,787$1,201$885
32 years$5,116$3,576$2,446$1,642$1,086$791
33 years$4,907$3,387$2,284$1,510$983$707
34 years$4,711$3,210$2,134$1,389$890$632
35 years$4,526$3,045$1,995$1,279$806$566
36 years$4,352$2,890$1,866$1,178$730$506
37 years$4,187$2,745$1,747$1,085$662$453
38 years$4,032$2,608$1,636$1,000$600$405
39 years$3,885$2,480$1,532$922$544$363
40 years$3,746$2,360$1,436$851$494$325
41 years$3,614$2,246$1,347$785$448$291
42 years$3,488$2,139$1,263$724$406$261
43 years$3,369$2,038$1,185$669$369$234
44 years$3,256$1,943$1,113$617$335$209
45 years$3,147$1,853$1,045$570$304$188
46 years$3,044$1,768$981$527$276$168
47 years$2,946$1,687$922$487$251$151
48 years$2,851$1,610$866$450$228$135
49 years$2,761$1,538$814$416$207$121
50 years$2,675$1,469$766$384$188$109

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,740,000, adding $4,304 every year, while hoping to spend $53,129 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: 45/35/20 Blend
60$2,740,000$2,740,000$2,740,000$2,740,000
61$3,023,920$2,878,700$2,836,230$3,142,415
62$3,275,831$2,963,227$2,874,714$3,310,580
63$3,551,656$3,050,116$2,912,708$3,487,240
64$3,853,778$3,139,425$2,950,137$3,677,717
65$4,184,823$3,231,216$2,986,926$3,883,320
66$4,547,680$3,325,550$3,022,993$4,105,487
67$4,945,532$3,422,491$3,058,252$4,345,802
68$5,381,886$3,522,103$3,092,613$4,606,010
69$5,860,603$3,624,451$3,125,981$4,888,029
70$6,385,937$3,729,602$3,158,253$5,193,974
71$6,962,573$3,837,622$3,189,325$5,526,169
72$7,595,672$3,948,582$3,219,084$5,887,177
73$8,290,918$4,062,551$3,247,411$6,279,818
74$9,054,576$4,179,599$3,274,183$6,707,198
75$9,893,542$4,299,800$3,299,268$7,172,739
76$10,815,419$4,423,225$3,322,529$7,680,207
77$11,828,578$4,549,950$3,343,820$8,233,752
78$12,942,244$4,680,048$3,362,989$8,837,944
79$14,166,579$4,813,596$3,379,875$9,497,819
80$15,512,779$4,950,672$3,394,310$10,218,921
81$16,993,180$5,091,352$3,406,117$11,007,360
82$18,621,372$5,235,716$3,415,109$11,869,866
83$20,412,328$5,383,842$3,421,092$12,813,853
84$22,382,546$5,535,811$3,423,860$13,847,490
85$24,550,204$5,691,704$3,423,197$14,979,777
86$26,935,329$5,851,602$3,418,878$16,220,627
87$29,559,989$6,015,586$3,410,666$17,580,967
88$32,448,497$6,183,739$3,398,313$19,072,832
89$35,627,645$6,356,144$3,381,558$20,709,484
90$39,126,952$6,532,882$3,360,127$22,505,537
91$42,978,944$6,714,037$3,333,735$24,477,093
92$47,219,463$6,899,692$3,302,082$26,641,892
93$51,888,000$7,089,928$3,264,854$29,019,484
94$57,028,071$7,284,829$3,221,721$31,631,412
95$62,687,625$7,484,477$3,172,339$34,501,413
96$68,919,498$7,688,951$3,116,348$37,655,644
97$75,781,911$7,898,334$3,053,369$41,122,929
98$83,339,017$8,112,704$2,983,009$44,935,028
99$91,661,510$8,332,139$2,904,853$49,126,942
100$100,827,288$8,556,718$2,818,469$53,737,241