Can I retire at age 61 with 2,870,000?

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 $2,870,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$237,002$234,891$232,831$230,821$228,858$222,513
2 years$117,328$115,143$113,025$110,972$108,980$102,635
3 years$77,441$75,247$73,135$71,101$69,141$62,995
4 years$57,502$55,314$53,223$51,224$49,312$43,412
5 years$45,542$43,367$41,303$39,345$37,486$31,848
6 years$37,571$35,413$33,379$31,464$29,662$24,290
7 years$31,880$29,739$27,738$25,869$24,123$19,019
8 years$27,613$25,492$23,524$21,701$20,012$15,173
9 years$24,296$22,196$20,261$18,484$16,853$12,274
10 years$21,645$19,564$17,664$15,933$14,360$10,035
11 years$19,476$17,417$15,551$13,867$12,350$8,272
12 years$17,671$15,632$13,802$12,163$10,702$6,864
13 years$16,144$14,127$12,331$10,738$9,332$5,725
14 years$14,837$12,841$11,079$9,532$8,181$4,796
15 years$13,705$11,731$10,003$8,501$7,203$4,032
16 years$12,715$10,763$9,069$7,612$6,366$3,399
17 years$11,843$9,912$8,253$6,839$5,645$2,873
18 years$11,068$9,159$7,534$6,163$5,019$2,433
19 years$10,376$8,489$6,897$5,569$4,473$2,063
20 years$9,754$7,888$6,329$5,044$3,996$1,753
21 years$9,192$7,347$5,822$4,578$3,576$1,491
22 years$8,682$6,859$5,366$4,162$3,205$1,269
23 years$8,216$6,415$4,954$3,791$2,877$1,081
24 years$7,791$6,010$4,582$3,457$2,586$922
25 years$7,399$5,640$4,244$3,157$2,327$786
26 years$7,039$5,301$3,936$2,887$2,096$671
27 years$6,706$4,989$3,655$2,642$1,890$573
28 years$6,397$4,701$3,398$2,421$1,705$490
29 years$6,110$4,435$3,162$2,220$1,540$418
30 years$5,842$4,188$2,945$2,038$1,391$358
31 years$5,592$3,959$2,746$1,871$1,258$306
32 years$5,359$3,746$2,562$1,720$1,138$262
33 years$5,140$3,548$2,392$1,581$1,030$224
34 years$4,934$3,362$2,235$1,455$932$191
35 years$4,741$3,189$2,089$1,340$844$164
36 years$4,558$3,027$1,955$1,234$765$140
37 years$4,386$2,875$1,829$1,137$693$120
38 years$4,224$2,732$1,713$1,048$629$103
39 years$4,070$2,598$1,605$966$570$88
40 years$3,924$2,472$1,504$891$517$75
41 years$3,785$2,353$1,411$822$469$64
42 years$3,654$2,241$1,323$759$426$55
43 years$3,529$2,135$1,242$700$386$47
44 years$3,410$2,035$1,166$647$351$40
45 years$3,297$1,941$1,094$597$318$35
46 years$3,188$1,851$1,028$552$289$30
47 years$3,085$1,767$966$510$262$25
48 years$2,987$1,687$907$471$238$22
49 years$2,892$1,611$853$435$216$19
50 years$2,802$1,539$802$402$197$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,870,000, adding $2,348 every year, while hoping to spend $58,935 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: 53/37/10 Blend
60$2,870,000$2,870,000$2,870,000$2,870,000
61$3,165,162$3,013,052$2,968,567$3,324,719
62$3,425,302$3,097,985$3,005,308$3,518,338
63$3,710,001$3,185,105$3,041,304$3,722,303
64$4,021,702$3,274,456$3,076,468$3,942,823
65$4,363,095$3,366,083$3,110,709$4,181,478
66$4,737,142$3,460,033$3,143,929$4,440,005
67$5,147,106$3,556,350$3,176,026$4,720,318
68$5,596,580$3,655,079$3,206,892$5,024,522
69$6,089,520$3,756,268$3,236,412$5,354,934
70$6,630,286$3,859,960$3,264,467$5,714,105
71$7,223,679$3,966,202$3,290,931$6,104,844
72$7,874,987$4,075,038$3,315,669$6,530,243
73$8,590,035$4,186,514$3,338,543$6,993,709
74$9,375,239$4,300,674$3,359,405$7,498,990
75$10,237,668$4,417,562$3,378,100$8,050,217
76$11,185,109$4,537,221$3,394,465$8,651,937
77$12,226,140$4,659,695$3,408,329$9,309,160
78$13,370,210$4,785,024$3,419,513$10,027,403
79$14,627,732$4,913,250$3,427,826$10,812,744
80$16,010,174$5,044,413$3,433,071$11,671,876
81$17,530,173$5,178,550$3,435,041$12,612,174
82$19,201,651$5,315,700$3,433,515$13,641,760
83$21,039,947$5,455,897$3,428,266$14,769,585
84$23,061,961$5,599,175$3,419,052$16,005,507
85$25,286,312$5,745,565$3,405,621$17,360,387
86$27,733,516$5,895,098$3,387,709$18,846,193
87$30,426,177$6,047,800$3,365,040$20,476,108
88$33,389,200$6,203,696$3,337,322$22,264,658
89$36,650,027$6,362,806$3,304,251$24,227,849
90$40,238,896$6,525,149$3,265,510$26,383,314
91$44,189,122$6,690,740$3,220,763$28,750,485
92$48,537,415$6,859,589$3,169,661$31,350,770
93$53,324,226$7,031,704$3,111,840$34,207,761
94$58,594,126$7,207,086$3,046,915$37,347,449
95$64,396,226$7,385,733$2,974,486$40,798,479
96$70,784,644$7,567,637$2,894,134$44,592,412
97$77,819,011$7,752,784$2,805,421$48,764,025
98$85,565,035$7,941,154$2,707,887$53,351,642
99$94,095,120$8,132,723$2,601,052$58,397,491
100$103,489,051$8,327,455$2,484,417$63,948,108