Can I retire at age 61 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$234,525$232,436$230,397$228,408$226,466$217,566
2 years$116,101$113,939$111,843$109,812$107,841$98,984
3 years$76,632$74,460$72,370$70,357$68,419$59,883
4 years$56,901$54,736$52,667$50,689$48,797$40,647
5 years$45,066$42,914$40,872$38,934$37,094$29,352
6 years$37,178$35,042$33,030$31,136$29,352$22,021
7 years$31,546$29,429$27,448$25,598$23,871$16,949
8 years$27,324$25,226$23,278$21,474$19,803$13,284
9 years$24,042$21,964$20,050$18,291$16,677$10,551
10 years$21,418$19,360$17,480$15,767$14,210$8,464
11 years$19,273$17,235$15,389$13,722$12,221$6,843
12 years$17,486$15,469$13,657$12,036$10,590$5,566
13 years$15,975$13,980$12,202$10,626$9,235$4,549
14 years$14,682$12,707$10,963$9,433$8,095$3,732
15 years$13,561$11,608$9,899$8,412$7,128$3,071
16 years$12,582$10,650$8,974$7,532$6,300$2,534
17 years$11,719$9,808$8,166$6,768$5,586$2,095
18 years$10,953$9,063$7,455$6,099$4,966$1,735
19 years$10,268$8,400$6,825$5,511$4,427$1,438
20 years$9,652$7,806$6,263$4,991$3,954$1,194
21 years$9,096$7,271$5,761$4,530$3,538$992
22 years$8,591$6,787$5,310$4,119$3,172$825
23 years$8,131$6,348$4,903$3,751$2,847$686
24 years$7,709$5,947$4,534$3,421$2,559$572
25 years$7,322$5,581$4,199$3,124$2,303$476
26 years$6,965$5,245$3,895$2,857$2,074$397
27 years$6,635$4,937$3,617$2,615$1,870$331
28 years$6,330$4,652$3,362$2,396$1,687$276
29 years$6,046$4,388$3,129$2,197$1,524$230
30 years$5,781$4,144$2,914$2,016$1,377$192
31 years$5,534$3,918$2,717$1,852$1,245$160
32 years$5,303$3,707$2,535$1,702$1,126$133
33 years$5,086$3,511$2,367$1,565$1,019$111
34 years$4,882$3,327$2,211$1,440$923$93
35 years$4,691$3,156$2,068$1,326$836$77
36 years$4,511$2,995$1,934$1,221$757$65
37 years$4,340$2,845$1,810$1,125$686$54
38 years$4,179$2,704$1,695$1,037$622$45
39 years$4,027$2,571$1,588$956$564$38
40 years$3,883$2,446$1,489$882$512$31
41 years$3,746$2,328$1,396$813$464$26
42 years$3,616$2,217$1,309$751$421$22
43 years$3,492$2,113$1,229$693$382$18
44 years$3,374$2,014$1,153$640$347$15
45 years$3,262$1,920$1,083$591$315$13
46 years$3,155$1,832$1,017$546$286$11
47 years$3,053$1,748$956$504$260$9
48 years$2,955$1,669$898$466$236$7
49 years$2,862$1,594$844$431$214$6
50 years$2,773$1,522$794$398$195$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,840,000, adding $5,129 every year, while hoping to spend $21,425 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: 55/29/16 Blend
60$2,840,000$2,840,000$2,840,000$2,840,000
61$3,134,971$2,984,451$2,940,431$3,293,835
62$3,431,942$3,107,893$3,016,139$3,526,025
63$3,758,485$3,236,665$3,093,665$3,775,992
64$4,117,596$3,371,007$3,173,048$4,047,700
65$4,512,572$3,511,168$3,254,327$4,343,231
66$4,947,048$3,657,408$3,337,540$4,664,874
67$5,425,027$3,810,001$3,422,728$5,015,146
68$5,950,921$3,969,233$3,509,931$5,396,813
69$6,529,592$4,135,402$3,599,190$5,812,921
70$7,166,394$4,308,821$3,690,547$6,266,818
71$7,867,231$4,489,817$3,784,045$6,762,186
72$8,638,603$4,678,733$3,879,725$7,303,079
73$9,487,677$4,875,927$3,977,632$7,893,954
74$10,422,345$5,081,773$4,077,808$8,539,719
75$11,451,309$5,296,664$4,180,299$9,245,772
76$12,584,151$5,521,010$4,285,148$10,018,055
77$13,831,435$5,755,240$4,392,401$10,863,109
78$15,204,799$5,999,804$4,502,104$11,788,130
79$16,717,067$6,255,172$4,614,302$12,801,044
80$18,382,369$6,521,837$4,729,043$13,910,571
81$20,216,277$6,800,314$4,846,372$15,126,314
82$22,235,949$7,091,141$4,966,337$16,458,846
83$24,460,292$7,394,883$5,088,986$17,919,804
84$26,910,141$7,712,132$5,214,367$19,522,005
85$29,608,455$8,043,505$5,342,527$21,279,560
86$32,580,530$8,389,650$5,473,515$23,208,006
87$35,854,246$8,751,245$5,607,379$25,324,456
88$39,460,322$9,128,998$5,744,169$27,647,753
89$43,432,609$9,523,654$5,883,933$30,198,647
90$47,808,410$9,935,988$6,026,720$32,999,993
91$52,628,832$10,366,815$6,172,579$36,076,962
92$57,939,172$10,816,988$6,321,559$39,457,275
93$63,789,345$11,287,399$6,473,710$43,171,466
94$70,234,358$11,778,981$6,629,079$47,253,167
95$77,334,826$12,292,714$6,787,716$51,739,421
96$85,157,543$12,829,622$6,949,669$56,671,034
97$93,776,115$13,390,776$7,114,986$62,092,953
98$103,271,656$13,977,302$7,283,715$68,054,689
99$113,733,549$14,590,373$7,455,904$74,610,784
100$125,260,293$15,231,224$7,631,598$81,821,321