Can I retire at age 61 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$233,699$231,617$229,586$227,604$225,668$220,661
2 years$115,692$113,538$111,450$109,425$107,461$102,442
3 years$76,362$74,198$72,115$70,110$68,178$63,304
4 years$56,701$54,544$52,481$50,510$48,625$43,934
5 years$44,907$42,763$40,728$38,797$36,964$32,469
6 years$37,047$34,919$32,914$31,026$29,248$24,954
7 years$31,435$29,325$27,352$25,508$23,787$19,694
8 years$27,228$25,137$23,196$21,398$19,733$15,841
9 years$23,958$21,886$19,979$18,226$16,618$12,923
10 years$21,343$19,292$17,418$15,711$14,160$10,658
11 years$19,205$17,174$15,335$13,674$12,178$8,864
12 years$17,424$15,415$13,609$11,994$10,553$7,423
13 years$15,919$13,930$12,159$10,589$9,202$6,250
14 years$14,630$12,662$10,925$9,399$8,067$5,286
15 years$13,514$11,567$9,864$8,383$7,103$4,488
16 years$12,538$10,613$8,943$7,506$6,277$3,822
17 years$11,678$9,774$8,138$6,744$5,566$3,263
18 years$10,914$9,032$7,429$6,077$4,949$2,791
19 years$10,232$8,370$6,801$5,492$4,411$2,393
20 years$9,618$7,778$6,241$4,974$3,940$2,054
21 years$9,064$7,245$5,741$4,514$3,526$1,766
22 years$8,561$6,763$5,291$4,104$3,160$1,520
23 years$8,102$6,325$4,885$3,738$2,837$1,309
24 years$7,682$5,926$4,518$3,409$2,550$1,128
25 years$7,296$5,562$4,185$3,113$2,295$974
26 years$6,941$5,227$3,881$2,847$2,067$840
27 years$6,612$4,919$3,604$2,606$1,863$726
28 years$6,307$4,635$3,350$2,387$1,681$627
29 years$6,024$4,373$3,118$2,189$1,518$542
30 years$5,761$4,130$2,904$2,009$1,372$469
31 years$5,514$3,904$2,707$1,845$1,240$406
32 years$5,284$3,694$2,526$1,696$1,122$351
33 years$5,068$3,498$2,359$1,559$1,015$304
34 years$4,865$3,316$2,204$1,435$919$263
35 years$4,674$3,145$2,060$1,321$833$227
36 years$4,495$2,985$1,927$1,216$754$197
37 years$4,325$2,835$1,804$1,121$684$171
38 years$4,165$2,694$1,689$1,033$620$148
39 years$4,013$2,562$1,583$953$562$128
40 years$3,869$2,437$1,483$879$510$111
41 years$3,733$2,320$1,391$811$463$96
42 years$3,603$2,210$1,305$748$420$83
43 years$3,480$2,105$1,224$691$381$72
44 years$3,362$2,007$1,149$638$346$62
45 years$3,251$1,914$1,079$589$314$54
46 years$3,144$1,826$1,014$544$285$47
47 years$3,042$1,742$952$503$259$41
48 years$2,945$1,663$895$464$235$35
49 years$2,852$1,588$841$429$213$30
50 years$2,763$1,517$791$397$194$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,830,000, adding $6,372 every year, while hoping to spend $46,883 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: 40/30/30 Blend
60$2,830,000$2,830,000$2,830,000$2,830,000
61$3,125,233$2,975,243$2,931,378$3,222,354
62$3,394,123$3,071,146$2,979,696$3,389,744
63$3,688,869$3,170,178$3,028,061$3,565,932
64$4,012,059$3,272,442$3,076,426$3,755,678
65$4,366,542$3,378,044$3,124,739$3,960,256
66$4,755,457$3,487,097$3,172,946$4,181,068
67$5,182,263$3,599,714$3,220,989$4,419,658
68$5,650,769$3,716,014$3,268,807$4,677,721
69$6,165,169$3,836,121$3,316,334$4,957,126
70$6,730,086$3,960,160$3,363,500$5,259,928
71$7,350,610$4,088,264$3,410,233$5,588,391
72$8,032,351$4,220,567$3,456,455$5,945,006
73$8,781,487$4,357,211$3,502,082$6,332,513
74$9,604,824$4,498,340$3,547,027$6,753,934
75$10,509,862$4,644,105$3,591,199$7,212,591
76$11,504,862$4,794,660$3,634,498$7,712,146
77$12,598,927$4,950,167$3,676,822$8,256,630
78$13,802,084$5,110,791$3,718,062$8,850,480
79$15,125,382$5,276,706$3,758,103$9,498,587
80$16,580,994$5,448,088$3,796,823$10,206,335
81$18,182,333$5,625,121$3,834,094$10,979,653
82$19,944,175$5,807,997$3,869,780$11,825,075
83$21,882,804$5,996,912$3,903,741$12,749,795
84$24,016,159$6,192,070$3,935,826$13,761,739
85$26,364,008$6,393,682$3,965,876$14,869,639
86$28,948,130$6,601,966$3,993,727$16,083,113
87$31,792,526$6,817,148$4,019,202$17,412,755
88$34,923,637$7,039,462$4,042,120$18,870,241
89$38,370,603$7,269,151$4,062,286$20,468,430
90$42,165,529$7,506,464$4,079,497$22,221,490
91$46,343,793$7,751,660$4,093,540$24,145,031
92$50,944,377$8,005,009$4,104,191$26,256,253
93$56,010,237$8,266,787$4,111,214$28,574,105
94$61,588,705$8,537,284$4,114,363$31,119,464
95$67,731,937$8,816,795$4,113,379$33,915,336
96$74,497,406$9,105,629$4,107,989$36,987,066
97$81,948,443$9,404,106$4,097,907$40,362,584
98$90,154,833$9,712,556$4,082,836$44,072,662
99$99,193,475$10,031,321$4,062,461$48,151,208
100$109,149,109$10,360,755$4,036,452$52,635,585