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%18.9%
1 years$237,828$235,709$233,642$231,625$229,655$221,419
2 years$117,736$115,544$113,419$111,358$109,360$101,151
3 years$77,711$75,509$73,389$71,348$69,382$61,459
4 years$57,703$55,507$53,409$51,402$49,484$41,907
5 years$45,701$43,518$41,447$39,482$37,617$30,405
6 years$37,702$35,536$33,496$31,574$29,765$22,925
7 years$31,991$29,843$27,835$25,959$24,207$17,736
8 years$27,709$25,581$23,606$21,776$20,082$13,975
9 years$24,381$22,273$20,332$18,548$16,912$11,161
10 years$21,720$19,632$17,726$15,989$14,410$9,005
11 years$19,544$17,478$15,606$13,915$12,393$7,323
12 years$17,732$15,687$13,850$12,205$10,739$5,993
13 years$16,200$14,176$12,374$10,776$9,365$4,928
14 years$14,888$12,886$11,118$9,565$8,209$4,068
15 years$13,752$11,772$10,038$8,531$7,228$3,370
16 years$12,759$10,800$9,101$7,638$6,388$2,798
17 years$11,884$9,947$8,281$6,863$5,664$2,329
18 years$11,107$9,191$7,560$6,185$5,036$1,941
19 years$10,413$8,518$6,921$5,589$4,489$1,621
20 years$9,788$7,916$6,351$5,062$4,010$1,355
21 years$9,224$7,373$5,842$4,594$3,588$1,134
22 years$8,712$6,882$5,384$4,177$3,216$949
23 years$8,245$6,437$4,972$3,804$2,887$796
24 years$7,818$6,031$4,598$3,469$2,595$667
25 years$7,425$5,660$4,259$3,168$2,335$560
26 years$7,063$5,319$3,950$2,897$2,103$470
27 years$6,729$5,006$3,668$2,652$1,896$394
28 years$6,419$4,717$3,409$2,429$1,711$331
29 years$6,131$4,450$3,173$2,228$1,545$278
30 years$5,862$4,203$2,955$2,045$1,396$234
31 years$5,612$3,973$2,755$1,878$1,262$196
32 years$5,377$3,759$2,571$1,726$1,142$165
33 years$5,158$3,560$2,400$1,587$1,033$139
34 years$4,951$3,374$2,243$1,460$936$117
35 years$4,757$3,200$2,097$1,344$847$98
36 years$4,574$3,038$1,961$1,238$768$82
37 years$4,401$2,885$1,836$1,141$696$69
38 years$4,238$2,742$1,719$1,051$631$58
39 years$4,084$2,607$1,611$969$572$49
40 years$3,937$2,480$1,510$894$519$41
41 years$3,799$2,361$1,416$825$471$35
42 years$3,667$2,249$1,328$761$427$29
43 years$3,541$2,143$1,246$703$388$24
44 years$3,422$2,042$1,170$649$352$21
45 years$3,308$1,948$1,098$599$319$17
46 years$3,200$1,858$1,031$554$290$15
47 years$3,096$1,773$969$511$263$12
48 years$2,997$1,693$911$473$239$10
49 years$2,902$1,616$856$437$217$9
50 years$2,812$1,544$805$404$197$7

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 $6,651 every year, while hoping to spend $49,581 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: 30/47/23 Blend
60$2,880,000$2,880,000$2,880,000$2,880,000
61$3,180,621$3,027,981$2,983,341$3,253,133
62$3,452,290$3,123,598$3,030,529$3,404,962
63$3,750,008$3,222,238$3,077,636$3,563,320
64$4,076,379$3,323,999$3,124,607$3,732,659
65$4,434,272$3,428,977$3,171,384$3,913,964
66$4,826,846$3,537,275$3,217,903$4,108,313
67$5,257,582$3,648,999$3,264,100$4,316,894
68$5,730,312$3,764,257$3,309,905$4,541,011
69$6,249,259$3,883,160$3,355,242$4,782,098
70$6,819,074$4,005,826$3,400,033$5,041,730
71$7,444,881$4,132,372$3,444,195$5,321,641
72$8,132,322$4,262,922$3,487,639$5,623,736
73$8,887,617$4,397,604$3,530,273$5,950,112
74$9,717,615$4,536,547$3,571,998$6,303,074
75$10,629,862$4,679,887$3,612,710$6,685,159
76$11,632,670$4,827,765$3,652,298$7,099,158
77$12,735,200$4,980,323$3,690,648$7,548,143
78$13,947,542$5,137,710$3,727,636$8,035,495
79$15,280,813$5,300,079$3,763,134$8,564,933
80$16,747,263$5,467,590$3,797,005$9,140,553
81$18,360,386$5,640,404$3,829,107$9,766,863
82$20,135,052$5,818,691$3,859,289$10,448,826
83$22,087,644$6,002,624$3,887,392$11,191,908
84$24,236,214$6,192,382$3,913,250$12,002,123
85$26,600,650$6,388,151$3,936,686$12,886,098
86$29,202,867$6,590,121$3,957,516$13,851,128
87$32,067,012$6,798,490$3,975,545$14,905,246
88$35,219,692$7,013,461$3,990,570$16,057,302
89$38,690,223$7,235,243$4,002,377$17,317,040
90$42,510,909$7,464,053$4,010,740$18,695,193
91$46,717,346$7,700,115$4,015,424$20,203,582
92$51,348,753$7,943,659$4,016,179$21,855,230
93$56,448,351$8,194,924$4,012,746$23,664,481
94$62,063,762$8,454,154$4,004,852$25,647,134
95$68,247,462$8,721,603$3,992,210$27,820,596
96$75,057,274$8,997,534$3,974,521$30,204,040
97$82,556,918$9,282,214$3,951,469$32,818,591
98$90,816,605$9,575,924$3,922,724$35,687,521
99$99,913,704$9,878,950$3,887,941$38,836,466
100$109,933,473$10,191,590$3,846,758$42,293,674