Can I retire at age 61 with 2,880,000?

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$237,828$235,709$233,642$231,625$229,655$224,103
2 years$117,736$115,544$113,419$111,358$109,360$103,800
3 years$77,711$75,509$73,389$71,348$69,382$63,988
4 years$57,703$55,507$53,409$51,402$49,484$44,297
5 years$45,701$43,518$41,447$39,482$37,617$32,651
6 years$37,702$35,536$33,496$31,574$29,765$25,026
7 years$31,991$29,843$27,835$25,959$24,207$19,695
8 years$27,709$25,581$23,606$21,776$20,082$15,795
9 years$24,381$22,273$20,332$18,548$16,912$12,847
10 years$21,720$19,632$17,726$15,989$14,410$10,562
11 years$19,544$17,478$15,606$13,915$12,393$8,757
12 years$17,732$15,687$13,850$12,205$10,739$7,309
13 years$16,200$14,176$12,374$10,776$9,365$6,134
14 years$14,888$12,886$11,118$9,565$8,209$5,170
15 years$13,752$11,772$10,038$8,531$7,228$4,374
16 years$12,759$10,800$9,101$7,638$6,388$3,711
17 years$11,884$9,947$8,281$6,863$5,664$3,157
18 years$11,107$9,191$7,560$6,185$5,036$2,691
19 years$10,413$8,518$6,921$5,589$4,489$2,298
20 years$9,788$7,916$6,351$5,062$4,010$1,966
21 years$9,224$7,373$5,842$4,594$3,588$1,683
22 years$8,712$6,882$5,384$4,177$3,216$1,443
23 years$8,245$6,437$4,972$3,804$2,887$1,238
24 years$7,818$6,031$4,598$3,469$2,595$1,063
25 years$7,425$5,660$4,259$3,168$2,335$914
26 years$7,063$5,319$3,950$2,897$2,103$785
27 years$6,729$5,006$3,668$2,652$1,896$676
28 years$6,419$4,717$3,409$2,429$1,711$581
29 years$6,131$4,450$3,173$2,228$1,545$501
30 years$5,862$4,203$2,955$2,045$1,396$431
31 years$5,612$3,973$2,755$1,878$1,262$371
32 years$5,377$3,759$2,571$1,726$1,142$320
33 years$5,158$3,560$2,400$1,587$1,033$276
34 years$4,951$3,374$2,243$1,460$936$238
35 years$4,757$3,200$2,097$1,344$847$205
36 years$4,574$3,038$1,961$1,238$768$177
37 years$4,401$2,885$1,836$1,141$696$152
38 years$4,238$2,742$1,719$1,051$631$131
39 years$4,084$2,607$1,611$969$572$113
40 years$3,937$2,480$1,510$894$519$98
41 years$3,799$2,361$1,416$825$471$84
42 years$3,667$2,249$1,328$761$427$73
43 years$3,541$2,143$1,246$703$388$63
44 years$3,422$2,042$1,170$649$352$54
45 years$3,308$1,948$1,098$599$319$47
46 years$3,200$1,858$1,031$554$290$40
47 years$3,096$1,773$969$511$263$35
48 years$2,997$1,693$911$473$239$30
49 years$2,902$1,616$856$437$217$26
50 years$2,812$1,544$805$404$197$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,880,000, adding $6,285 every year, while hoping to spend $42,047 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: 54/18/28 Blend
60$2,880,000$2,880,000$2,880,000$2,880,000
61$3,180,243$3,027,603$2,982,963$3,326,906
62$3,459,890$3,131,218$3,038,155$3,532,607
63$3,766,652$3,238,501$3,093,786$3,751,614
64$4,103,250$3,349,587$3,149,827$3,989,216
65$4,472,681$3,464,616$3,206,246$4,247,214
66$4,878,248$3,583,736$3,263,009$4,527,590
67$5,323,588$3,707,097$3,320,078$4,832,527
68$5,812,706$3,834,857$3,377,413$5,164,427
69$6,350,017$3,967,180$3,434,971$5,525,936
70$6,940,383$4,104,236$3,492,707$5,919,966
71$7,589,160$4,246,201$3,550,570$6,349,723
72$8,302,249$4,393,260$3,608,509$6,818,739
73$9,086,152$4,545,603$3,666,468$7,330,902
74$9,948,030$4,703,429$3,724,385$7,890,494
75$10,895,776$4,866,943$3,782,199$8,502,233
76$11,938,082$5,036,361$3,839,840$9,171,313
77$13,084,529$5,211,905$3,897,236$9,903,456
78$14,345,668$5,393,806$3,954,312$10,704,962
79$15,733,130$5,582,306$4,010,985$11,582,775
80$17,259,725$5,777,654$4,067,168$12,544,540
81$18,939,570$5,980,112$4,122,771$13,598,681
82$20,788,218$6,189,950$4,177,697$14,754,477
83$22,822,809$6,407,450$4,231,841$16,022,150
84$25,062,224$6,632,904$4,285,097$17,412,961
85$27,527,272$6,866,618$4,337,349$18,939,316
86$30,240,879$7,108,907$4,388,475$20,614,884
87$33,228,307$7,360,102$4,438,348$22,454,723
88$36,517,393$7,620,546$4,486,831$24,475,424
89$40,138,810$7,890,595$4,533,782$26,695,265
90$44,126,355$8,170,620$4,579,051$29,134,386
91$48,517,271$8,461,009$4,622,477$31,814,977
92$53,352,597$8,762,163$4,663,894$34,761,485
93$58,677,553$9,074,500$4,703,126$38,000,850
94$64,541,968$9,398,455$4,739,985$41,562,752
95$71,000,752$9,734,483$4,774,278$45,479,896
96$78,114,410$10,083,054$4,805,798$49,788,318
97$85,949,617$10,444,660$4,834,329$54,527,723
98$94,579,841$10,819,812$4,859,642$59,741,865
99$104,086,045$11,209,042$4,881,500$65,478,952
100$114,557,441$11,612,906$4,899,650$71,792,105