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

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$226,267$224,251$222,285$220,366$218,491$214,343
2 years$112,013$109,927$107,905$105,945$104,044$99,880
3 years$73,934$71,839$69,822$67,880$66,010$61,961
4 years$54,898$52,809$50,812$48,904$47,079$43,176
5 years$43,479$41,403$39,433$37,563$35,788$32,043
6 years$35,869$33,809$31,867$30,039$28,318$24,734
7 years$30,436$28,392$26,482$24,697$23,030$19,609
8 years$26,362$24,337$22,459$20,718$19,106$15,846
9 years$23,196$21,190$19,344$17,647$16,090$12,989
10 years$20,664$18,678$16,864$15,212$13,709$10,765
11 years$18,594$16,628$14,847$13,239$11,790$8,999
12 years$16,870$14,924$13,176$11,612$10,217$7,575
13 years$15,413$13,487$11,772$10,252$8,910$6,412
14 years$14,165$12,260$10,577$9,100$7,810$5,453
15 years$13,084$11,199$9,550$8,116$6,877$4,655
16 years$12,139$10,275$8,658$7,267$6,078$3,986
17 years$11,307$9,463$7,879$6,529$5,389$3,423
18 years$10,567$8,744$7,192$5,884$4,792$2,946
19 years$9,906$8,104$6,584$5,317$4,271$2,540
20 years$9,312$7,531$6,043$4,815$3,815$2,194
21 years$8,776$7,015$5,558$4,370$3,414$1,897
22 years$8,288$6,548$5,123$3,974$3,060$1,643
23 years$7,844$6,124$4,730$3,619$2,747$1,424
24 years$7,438$5,738$4,374$3,301$2,469$1,236
25 years$7,064$5,385$4,052$3,014$2,222$1,073
26 years$6,720$5,061$3,758$2,756$2,001$932
27 years$6,402$4,763$3,489$2,523$1,804$810
28 years$6,107$4,488$3,244$2,311$1,628$705
29 years$5,833$4,234$3,019$2,120$1,470$613
30 years$5,577$3,998$2,812$1,945$1,328$534
31 years$5,339$3,780$2,621$1,787$1,201$465
32 years$5,116$3,576$2,446$1,642$1,086$405
33 years$4,907$3,387$2,284$1,510$983$353
34 years$4,711$3,210$2,134$1,389$890$307
35 years$4,526$3,045$1,995$1,279$806$268
36 years$4,352$2,890$1,866$1,178$730$233
37 years$4,187$2,745$1,747$1,085$662$203
38 years$4,032$2,608$1,636$1,000$600$177
39 years$3,885$2,480$1,532$922$544$155
40 years$3,746$2,360$1,436$851$494$135
41 years$3,614$2,246$1,347$785$448$118
42 years$3,488$2,139$1,263$724$406$103
43 years$3,369$2,038$1,185$669$369$89
44 years$3,256$1,943$1,113$617$335$78
45 years$3,147$1,853$1,045$570$304$68
46 years$3,044$1,768$981$527$276$59
47 years$2,946$1,687$922$487$251$52
48 years$2,851$1,610$866$450$228$45
49 years$2,761$1,538$814$416$207$39
50 years$2,675$1,469$766$384$188$34

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 $5,452 every year, while hoping to spend $57,586 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: 67/24/9 Blend
60$2,740,000$2,740,000$2,740,000$2,740,000
61$3,025,104$2,879,884$2,837,414$3,222,049
62$3,272,393$2,959,727$2,871,196$3,433,437
63$3,542,976$3,041,553$2,904,180$3,657,048
64$3,839,168$3,125,397$2,936,278$3,899,997
65$4,163,518$3,211,296$2,967,398$4,164,169
66$4,518,833$3,299,285$2,997,442$4,451,635
67$4,908,205$3,389,402$3,026,308$4,764,679
68$5,335,039$3,481,680$3,053,887$5,105,812
69$5,803,086$3,576,155$3,080,065$5,477,803
70$6,316,476$3,672,861$3,104,721$5,883,699
71$6,879,757$3,771,833$3,127,731$6,326,855
72$7,497,943$3,873,102$3,148,960$6,810,968
73$8,176,551$3,976,702$3,168,268$7,340,108
74$8,921,662$4,082,664$3,185,508$7,918,760
75$9,739,974$4,191,017$3,200,525$8,551,861
76$10,638,866$4,301,792$3,213,157$9,244,853
77$11,626,466$4,415,015$3,223,233$10,003,727
78$12,711,727$4,530,712$3,230,573$10,835,085
79$13,904,515$4,648,909$3,234,989$11,746,199
80$15,215,697$4,769,627$3,236,283$12,745,082
81$16,657,247$4,892,887$3,234,247$13,840,558
82$18,242,355$5,018,708$3,228,664$15,042,354
83$19,985,556$5,147,106$3,219,305$16,361,182
84$21,902,862$5,278,093$3,205,930$17,808,846
85$24,011,914$5,411,679$3,188,289$19,398,352
86$26,332,151$5,547,873$3,166,119$21,144,029
87$28,884,989$5,686,678$3,139,142$23,061,666
88$31,694,026$5,828,093$3,107,072$25,168,658
89$34,785,262$5,972,115$3,069,604$27,484,174
90$38,187,345$6,118,735$3,026,422$30,029,335
91$41,931,841$6,267,940$2,977,194$32,827,414
92$46,053,531$6,419,711$2,921,572$35,904,053
93$50,590,740$6,574,026$2,859,193$39,287,511
94$55,585,696$6,730,854$2,789,677$43,008,923
95$61,084,931$6,890,159$2,712,625$47,102,601
96$67,139,716$7,051,900$2,627,621$51,606,351
97$73,806,550$7,216,026$2,534,229$56,561,835
98$81,147,687$7,382,479$2,431,994$62,014,961
99$89,231,724$7,551,194$2,320,439$68,016,319
100$98,134,253$7,722,096$2,199,067$74,621,654