Can I retire at age 61 with 2,800,000?

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 $2,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$231,221$229,162$227,152$225,191$223,276$216,824
2 years$114,466$112,334$110,268$108,265$106,322$99,873
3 years$75,553$73,412$71,351$69,366$67,455$61,211
4 years$56,100$53,965$51,925$49,975$48,109$42,118
5 years$44,431$42,309$40,296$38,385$36,572$30,850
6 years$36,655$34,549$32,565$30,697$28,938$23,491
7 years$31,102$29,014$27,062$25,238$23,535$18,362
8 years$26,940$24,870$22,951$21,171$19,524$14,623
9 years$23,704$21,654$19,767$18,033$16,442$11,808
10 years$21,117$19,087$17,234$15,545$14,010$9,635
11 years$19,001$16,992$15,172$13,529$12,049$7,927
12 years$17,240$15,251$13,465$11,866$10,441$6,565
13 years$15,750$13,783$12,030$10,476$9,105$5,465
14 years$14,475$12,528$10,809$9,300$7,981$4,568
15 years$13,370$11,445$9,759$8,294$7,027$3,832
16 years$12,405$10,500$8,848$7,426$6,211$3,224
17 years$11,554$9,670$8,051$6,672$5,507$2,719
18 years$10,799$8,936$7,350$6,013$4,896$2,297
19 years$10,123$8,282$6,728$5,433$4,364$1,944
20 years$9,516$7,696$6,175$4,921$3,898$1,648
21 years$8,968$7,168$5,680$4,466$3,489$1,398
22 years$8,470$6,691$5,235$4,061$3,127$1,187
23 years$8,016$6,258$4,833$3,698$2,807$1,009
24 years$7,601$5,864$4,470$3,373$2,523$858
25 years$7,219$5,503$4,140$3,080$2,270$731
26 years$6,867$5,172$3,840$2,816$2,045$622
27 years$6,542$4,867$3,566$2,578$1,844$530
28 years$6,241$4,586$3,315$2,362$1,664$452
29 years$5,961$4,327$3,085$2,166$1,502$385
30 years$5,700$4,086$2,873$1,988$1,357$328
31 years$5,456$3,863$2,679$1,826$1,227$280
32 years$5,228$3,655$2,499$1,678$1,110$239
33 years$5,014$3,461$2,334$1,543$1,005$204
34 years$4,814$3,280$2,180$1,420$910$174
35 years$4,625$3,111$2,038$1,307$824$148
36 years$4,447$2,953$1,907$1,204$746$127
37 years$4,279$2,805$1,785$1,109$677$108
38 years$4,120$2,666$1,671$1,022$613$92
39 years$3,970$2,535$1,566$942$556$79
40 years$3,828$2,412$1,468$869$504$67
41 years$3,693$2,296$1,376$802$458$57
42 years$3,565$2,186$1,291$740$415$49
43 years$3,443$2,083$1,211$683$377$42
44 years$3,327$1,986$1,137$631$342$36
45 years$3,216$1,893$1,068$583$311$31
46 years$3,111$1,806$1,003$538$282$26
47 years$3,010$1,724$942$497$256$22
48 years$2,914$1,646$885$459$233$19
49 years$2,822$1,571$832$425$211$16
50 years$2,734$1,501$782$392$192$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,800,000, adding $2,551 every year, while hoping to spend $59,388 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: 33/43/24 Blend
60$2,800,000$2,800,000$2,800,000$2,800,000
61$3,088,231$2,939,831$2,896,431$3,167,402
62$3,340,043$3,020,695$2,930,273$3,307,976
63$3,615,548$3,103,530$2,963,259$3,453,837
64$3,917,102$3,188,371$2,995,296$3,609,845
65$4,247,297$3,275,251$3,026,289$3,776,933
66$4,608,987$3,364,204$3,056,135$3,956,130
67$5,005,316$3,455,263$3,084,728$4,148,566
68$5,439,746$3,548,459$3,111,955$4,355,488
69$5,916,091$3,643,824$3,137,696$4,578,267
70$6,438,550$3,741,389$3,161,826$4,818,414
71$7,011,748$3,841,183$3,184,214$5,077,591
72$7,640,782$3,943,237$3,204,720$5,357,630
73$8,331,263$4,047,576$3,223,199$5,660,549
74$9,089,373$4,154,229$3,239,498$5,988,569
75$9,921,922$4,263,220$3,253,455$6,344,140
76$10,836,413$4,374,572$3,264,900$6,729,957
77$11,841,109$4,488,308$3,273,656$7,148,993
78$12,945,115$4,604,448$3,279,536$7,604,520
79$14,158,460$4,723,009$3,282,344$8,100,146
80$15,492,194$4,844,008$3,281,873$8,639,845
81$16,958,490$4,967,456$3,277,909$9,227,998
82$18,570,761$5,093,366$3,270,223$9,869,429
83$20,343,781$5,221,744$3,258,579$10,569,457
84$22,293,833$5,352,595$3,242,726$11,333,943
85$24,438,851$5,485,920$3,222,405$12,169,346
86$26,798,599$5,621,716$3,197,342$13,082,784
87$29,394,852$5,759,975$3,167,248$14,082,101
88$32,251,601$5,900,688$3,131,825$15,175,942
89$35,395,280$6,043,837$3,090,756$16,373,836
90$38,855,015$6,189,402$3,043,714$17,686,283
91$42,662,901$6,337,357$2,990,352$19,124,859
92$46,854,297$6,487,668$2,930,310$20,702,317
93$51,468,170$6,640,298$2,863,209$22,432,718
94$56,547,451$6,795,201$2,788,655$24,331,556
95$62,139,450$6,952,324$2,706,233$26,415,909
96$68,296,293$7,111,607$2,615,511$28,704,599
97$75,075,421$7,272,982$2,516,037$31,218,373
98$82,540,126$7,436,370$2,407,336$33,980,095
99$90,760,152$7,601,685$2,288,915$37,014,967
100$99,812,350$7,768,831$2,160,256$40,350,765