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

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$233,699$231,617$229,586$227,604$225,668$221,383
2 years$115,692$113,538$111,450$109,425$107,461$103,161
3 years$76,362$74,198$72,115$70,110$68,178$63,996
4 years$56,701$54,544$52,481$50,510$48,625$44,594
5 years$44,907$42,763$40,728$38,797$36,964$33,096
6 years$37,047$34,919$32,914$31,026$29,248$25,547
7 years$31,435$29,325$27,352$25,508$23,787$20,253
8 years$27,228$25,137$23,196$21,398$19,733$16,366
9 years$23,958$21,886$19,979$18,226$16,618$13,416
10 years$21,343$19,292$17,418$15,711$14,160$11,119
11 years$19,205$17,174$15,335$13,674$12,178$9,295
12 years$17,424$15,415$13,609$11,994$10,553$7,824
13 years$15,919$13,930$12,159$10,589$9,202$6,623
14 years$14,630$12,662$10,925$9,399$8,067$5,632
15 years$13,514$11,567$9,864$8,383$7,103$4,808
16 years$12,538$10,613$8,943$7,506$6,277$4,117
17 years$11,678$9,774$8,138$6,744$5,566$3,535
18 years$10,914$9,032$7,429$6,077$4,949$3,043
19 years$10,232$8,370$6,801$5,492$4,411$2,624
20 years$9,618$7,778$6,241$4,974$3,940$2,266
21 years$9,064$7,245$5,741$4,514$3,526$1,960
22 years$8,561$6,763$5,291$4,104$3,160$1,697
23 years$8,102$6,325$4,885$3,738$2,837$1,471
24 years$7,682$5,926$4,518$3,409$2,550$1,276
25 years$7,296$5,562$4,185$3,113$2,295$1,108
26 years$6,941$5,227$3,881$2,847$2,067$963
27 years$6,612$4,919$3,604$2,606$1,863$837
28 years$6,307$4,635$3,350$2,387$1,681$728
29 years$6,024$4,373$3,118$2,189$1,518$633
30 years$5,761$4,130$2,904$2,009$1,372$551
31 years$5,514$3,904$2,707$1,845$1,240$480
32 years$5,284$3,694$2,526$1,696$1,122$418
33 years$5,068$3,498$2,359$1,559$1,015$364
34 years$4,865$3,316$2,204$1,435$919$317
35 years$4,674$3,145$2,060$1,321$833$277
36 years$4,495$2,985$1,927$1,216$754$241
37 years$4,325$2,835$1,804$1,121$684$210
38 years$4,165$2,694$1,689$1,033$620$183
39 years$4,013$2,562$1,583$953$562$160
40 years$3,869$2,437$1,483$879$510$139
41 years$3,733$2,320$1,391$811$463$121
42 years$3,603$2,210$1,305$748$420$106
43 years$3,480$2,105$1,224$691$381$92
44 years$3,362$2,007$1,149$638$346$81
45 years$3,251$1,914$1,079$589$314$70
46 years$3,144$1,826$1,014$544$285$61
47 years$3,042$1,742$952$503$259$54
48 years$2,945$1,663$895$464$235$47
49 years$2,852$1,588$841$429$213$41
50 years$2,763$1,517$791$397$194$36

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 $2,822 every year, while hoping to spend $52,575 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: 45/31/24 Blend
60$2,830,000$2,830,000$2,830,000$2,830,000
61$3,121,571$2,971,581$2,927,716$3,240,305
62$3,384,032$3,061,249$2,969,855$3,414,139
63$3,671,501$3,153,549$3,011,644$3,597,197
64$3,986,476$3,248,553$3,053,015$3,794,675
65$4,331,702$3,346,339$3,093,897$4,007,941
66$4,710,208$3,446,981$3,134,214$4,238,504
67$5,125,326$3,550,561$3,173,888$4,488,023
68$5,580,729$3,657,158$3,212,833$4,758,324
69$6,080,461$3,766,856$3,250,960$5,051,417
70$6,628,976$3,879,740$3,288,175$5,369,517
71$7,231,181$3,995,897$3,324,378$5,715,059
72$7,892,482$4,115,416$3,359,465$6,090,729
73$8,618,832$4,238,388$3,393,324$6,499,480
74$9,416,792$4,364,908$3,425,840$6,944,567
75$10,293,587$4,495,071$3,456,887$7,429,575
76$11,257,177$4,628,974$3,486,338$7,958,452
77$12,316,334$4,766,719$3,514,056$8,535,544
78$13,480,720$4,908,407$3,539,895$9,165,641
79$14,760,978$5,054,144$3,563,707$9,854,020
80$16,168,837$5,204,036$3,585,330$10,606,490
81$17,717,218$5,358,194$3,604,599$11,429,455
82$19,420,358$5,516,729$3,621,336$12,329,968
83$21,293,941$5,679,756$3,635,358$13,315,797
84$23,355,251$5,847,391$3,646,470$14,395,503
85$25,623,327$6,019,754$3,654,467$15,578,518
86$28,119,152$6,196,967$3,659,137$16,875,232
87$30,865,841$6,379,154$3,660,254$18,297,094
88$33,888,866$6,566,442$3,657,582$19,856,718
89$37,216,294$6,758,961$3,650,874$21,568,003
90$40,879,047$6,956,842$3,639,870$23,446,264
91$44,911,203$7,160,220$3,624,299$25,508,375
92$49,350,307$7,369,232$3,603,874$27,772,928
93$54,237,732$7,584,018$3,578,297$30,260,413
94$59,619,065$7,804,720$3,547,255$32,993,405
95$65,544,541$8,031,482$3,510,419$35,996,781
96$72,069,511$8,264,452$3,467,445$39,297,953
97$79,254,971$8,503,779$3,417,974$42,927,128
98$87,168,130$8,749,616$3,361,628$46,917,592
99$95,883,049$9,002,118$3,298,013$51,306,025
100$105,481,339$9,261,440$3,226,715$56,132,845