Can I retire at age 61 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$238,653$236,528$234,454$232,429$230,453$226,356
2 years$118,145$115,945$113,812$111,745$109,739$105,626
3 years$77,981$75,771$73,644$71,596$69,623$65,621
4 years$57,903$55,700$53,594$51,581$49,656$45,796
5 years$45,859$43,669$41,591$39,619$37,748$34,041
6 years$37,833$35,659$33,612$31,684$29,868$26,319
7 years$32,102$29,947$27,932$26,049$24,291$20,900
8 years$27,805$25,670$23,688$21,852$20,152$16,919
9 years$24,466$22,350$20,403$18,613$16,971$13,893
10 years$21,795$19,701$17,788$16,044$14,460$11,536
11 years$19,612$17,538$15,660$13,964$12,436$9,662
12 years$17,794$15,741$13,898$12,248$10,777$8,149
13 years$16,257$14,226$12,417$10,813$9,398$6,912
14 years$14,940$12,931$11,156$9,599$8,238$5,890
15 years$13,800$11,812$10,073$8,560$7,253$5,038
16 years$12,804$10,838$9,132$7,665$6,410$4,324
17 years$11,925$9,981$8,310$6,887$5,684$3,720
18 years$11,146$9,223$7,586$6,206$5,054$3,209
19 years$10,449$8,548$6,945$5,608$4,505$2,773
20 years$9,822$7,943$6,374$5,079$4,024$2,400
21 years$9,256$7,399$5,862$4,610$3,601$2,081
22 years$8,742$6,906$5,403$4,191$3,228$1,806
23 years$8,274$6,459$4,989$3,817$2,897$1,569
24 years$7,845$6,052$4,614$3,481$2,604$1,364
25 years$7,451$5,679$4,273$3,179$2,343$1,187
26 years$7,088$5,338$3,963$2,907$2,111$1,034
27 years$6,752$5,024$3,680$2,661$1,903$901
28 years$6,441$4,734$3,421$2,438$1,717$786
29 years$6,152$4,466$3,184$2,236$1,551$685
30 years$5,883$4,217$2,966$2,052$1,401$598
31 years$5,631$3,987$2,765$1,884$1,267$522
32 years$5,396$3,772$2,580$1,732$1,146$456
33 years$5,176$3,572$2,409$1,593$1,037$398
34 years$4,968$3,386$2,250$1,465$939$348
35 years$4,774$3,211$2,104$1,349$850$304
36 years$4,590$3,048$1,968$1,242$770$265
37 years$4,417$2,895$1,842$1,145$698$232
38 years$4,253$2,751$1,725$1,055$633$203
39 years$4,098$2,616$1,616$973$574$177
40 years$3,951$2,489$1,515$897$521$155
41 years$3,812$2,369$1,421$828$472$136
42 years$3,679$2,257$1,332$764$429$119
43 years$3,554$2,150$1,250$705$389$104
44 years$3,434$2,049$1,174$651$353$91
45 years$3,320$1,954$1,102$601$321$79
46 years$3,211$1,864$1,035$555$291$69
47 years$3,107$1,779$972$513$264$61
48 years$3,007$1,698$914$474$240$53
49 years$2,913$1,622$859$438$218$46
50 years$2,822$1,549$808$405$198$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,890,000, adding $4,729 every year, while hoping to spend $20,112 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: 67/12/21 Blend
60$2,890,000$2,890,000$2,890,000$2,890,000
61$3,189,658$3,036,488$2,991,693$3,386,191
62$3,493,604$3,163,877$3,070,516$3,645,885
63$3,827,879$3,296,834$3,151,305$3,927,018
64$4,195,554$3,435,610$3,234,105$4,233,984
65$4,600,015$3,580,470$3,318,962$4,569,324
66$5,044,991$3,731,687$3,405,922$4,935,836
67$5,534,591$3,889,551$3,495,032$5,336,602
68$6,073,344$4,054,364$3,586,340$5,775,012
69$6,666,238$4,226,440$3,679,895$6,254,801
70$7,318,769$4,406,111$3,775,746$6,780,078
71$8,036,994$4,593,721$3,873,945$7,355,372
72$8,827,588$4,789,633$3,974,542$7,985,666
73$9,697,902$4,994,226$4,077,590$8,676,448
74$10,656,041$5,207,896$4,183,142$9,433,762
75$11,710,932$5,431,057$4,291,251$10,264,265
76$12,872,413$5,664,145$4,401,974$11,175,287
77$14,151,324$5,907,613$4,515,366$12,174,900
78$15,559,611$6,161,938$4,631,482$13,271,998
79$17,110,437$6,427,618$4,750,382$14,476,373
80$18,818,304$6,705,174$4,872,122$15,798,813
81$20,699,195$6,995,152$4,996,763$17,251,201
82$22,770,723$7,298,124$5,124,364$18,846,623
83$25,052,293$7,614,689$5,254,987$20,599,498
84$27,565,290$7,945,472$5,388,692$22,525,707
85$30,333,279$8,291,130$5,525,543$24,642,746
86$33,382,228$8,652,349$5,665,603$26,969,886
87$36,740,750$9,029,849$5,808,936$29,528,361
88$40,440,378$9,424,384$5,955,606$32,341,560
89$44,515,859$9,836,740$6,105,681$35,435,252
90$49,005,481$10,267,745$6,259,226$38,837,825
91$53,951,438$10,718,262$6,416,308$42,580,557
92$59,400,226$11,189,198$6,576,995$46,697,906
93$65,403,081$11,681,501$6,741,357$51,227,836
94$72,016,464$12,196,164$6,909,461$56,212,175
95$79,302,594$12,734,226$7,081,378$61,697,007
96$87,330,033$13,296,778$7,257,179$67,733,108
97$96,174,336$13,884,960$7,436,935$74,376,422
98$105,918,763$14,499,967$7,620,716$81,688,587
99$116,655,061$15,143,050$7,808,595$89,737,521
100$128,484,339$15,815,521$8,000,645$98,598,055