Can I retire at age 61 with 2,820,000?

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 $2,820,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$232,873$230,799$228,775$226,800$224,871$221,054
2 years$115,284$113,137$111,056$109,038$107,081$103,248
3 years$76,092$73,936$71,860$69,862$67,937$64,206
4 years$56,501$54,351$52,296$50,332$48,453$44,854
5 years$44,748$42,612$40,584$38,659$36,833$33,376
6 years$36,916$34,796$32,798$30,916$29,145$25,833
7 years$31,324$29,221$27,255$25,418$23,703$20,537
8 years$27,132$25,048$23,114$21,323$19,664$16,644
9 years$23,873$21,809$19,909$18,162$16,560$13,684
10 years$21,267$19,223$17,357$15,656$14,110$11,376
11 years$19,137$17,113$15,281$13,625$12,135$9,540
12 years$17,363$15,360$13,561$11,951$10,516$8,056
13 years$15,863$13,881$12,116$10,551$9,170$6,842
14 years$14,578$12,618$10,886$9,366$8,038$5,838
15 years$13,466$11,526$9,829$8,353$7,078$5,001
16 years$12,494$10,575$8,911$7,479$6,255$4,298
17 years$11,637$9,739$8,109$6,720$5,546$3,704
18 years$10,876$9,000$7,402$6,056$4,931$3,199
19 years$10,196$8,341$6,777$5,472$4,396$2,769
20 years$9,584$7,751$6,219$4,956$3,926$2,400
21 years$9,032$7,219$5,720$4,498$3,513$2,084
22 years$8,530$6,739$5,272$4,090$3,149$1,811
23 years$8,073$6,303$4,868$3,725$2,827$1,576
24 years$7,655$5,905$4,502$3,397$2,541$1,373
25 years$7,270$5,542$4,170$3,102$2,287$1,197
26 years$6,916$5,209$3,867$2,837$2,060$1,044
27 years$6,589$4,902$3,591$2,596$1,857$911
28 years$6,285$4,619$3,338$2,379$1,676$796
29 years$6,003$4,357$3,107$2,181$1,513$695
30 years$5,740$4,115$2,894$2,002$1,367$607
31 years$5,495$3,890$2,698$1,839$1,236$531
32 years$5,265$3,681$2,517$1,690$1,118$465
33 years$5,050$3,486$2,350$1,554$1,012$406
34 years$4,848$3,304$2,196$1,430$916$356
35 years$4,658$3,134$2,053$1,316$830$311
36 years$4,479$2,974$1,921$1,212$752$272
37 years$4,310$2,825$1,798$1,117$681$238
38 years$4,150$2,685$1,683$1,029$618$209
39 years$3,999$2,553$1,577$949$560$183
40 years$3,855$2,429$1,478$875$508$160
41 years$3,719$2,312$1,386$808$461$140
42 years$3,590$2,202$1,300$745$418$123
43 years$3,467$2,098$1,220$688$380$108
44 years$3,351$2,000$1,145$635$345$94
45 years$3,239$1,907$1,075$587$313$83
46 years$3,133$1,819$1,010$542$284$72
47 years$3,032$1,736$949$501$258$63
48 years$2,935$1,657$892$463$234$56
49 years$2,842$1,583$838$428$213$49
50 years$2,753$1,512$788$395$193$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,820,000, adding $3,441 every year, while hoping to spend $43,553 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: 40/43/17 Blend
60$2,820,000$2,820,000$2,820,000$2,820,000
61$3,111,189$2,961,729$2,918,019$3,219,801
62$3,382,191$3,060,514$2,969,433$3,396,221
63$3,679,374$3,162,680$3,021,109$3,582,481
64$4,005,365$3,268,345$3,073,011$3,783,061
65$4,363,054$3,377,636$3,125,098$3,999,285
66$4,755,625$3,490,679$3,177,328$4,232,605
67$5,186,585$3,607,609$3,229,656$4,484,622
68$5,659,799$3,728,565$3,282,032$4,757,091
69$6,179,523$3,853,688$3,334,404$5,051,945
70$6,750,444$3,983,129$3,386,717$5,371,308
71$7,377,729$4,117,042$3,438,911$5,717,516
72$8,067,068$4,255,587$3,490,925$6,093,139
73$8,824,728$4,398,931$3,542,690$6,501,003
74$9,657,617$4,547,244$3,594,136$6,944,217
75$10,573,342$4,700,708$3,645,188$7,426,204
76$11,580,286$4,859,506$3,695,766$7,950,729
77$12,687,686$5,023,832$3,745,785$8,521,933
78$13,905,716$5,193,886$3,795,154$9,144,378
79$15,245,588$5,369,875$3,843,781$9,823,082
80$16,719,653$5,552,014$3,891,563$10,563,570
81$18,341,522$5,740,527$3,938,394$11,371,923
82$20,126,190$5,935,646$3,984,163$12,254,836
83$22,090,180$6,137,612$4,028,752$13,219,681
84$24,251,697$6,346,673$4,072,034$14,274,573
85$26,630,802$6,563,091$4,113,878$15,428,448
86$29,249,595$6,787,135$4,154,145$16,691,148
87$32,132,433$7,019,084$4,192,688$18,073,508
88$35,306,151$7,259,229$4,229,353$19,587,461
89$38,800,319$7,507,871$4,263,976$21,246,149
90$42,647,520$7,765,325$4,296,387$23,064,047
91$46,883,656$8,031,915$4,326,406$25,057,096
92$51,548,290$8,307,980$4,353,842$27,242,854
93$56,685,016$8,593,871$4,378,495$29,640,661
94$62,341,869$8,889,953$4,400,157$32,271,820
95$68,571,784$9,196,605$4,418,606$35,159,795
96$75,433,088$9,514,221$4,433,612$38,330,436
97$82,990,055$9,843,209$4,444,930$41,812,215
98$91,313,511$10,183,997$4,452,305$45,636,501
99$100,481,500$10,537,024$4,455,468$49,837,848
100$110,580,026$10,902,751$4,454,140$54,454,324