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%11.3%
1 years$238,653$236,528$234,454$232,429$230,453$229,192
2 years$118,145$115,945$113,812$111,745$109,739$108,468
3 years$77,981$75,771$73,644$71,596$69,623$68,380
4 years$57,903$55,700$53,594$51,581$49,656$48,450
5 years$45,859$43,669$41,591$39,619$37,748$36,583
6 years$37,833$35,659$33,612$31,684$29,868$28,746
7 years$32,102$29,947$27,932$26,049$24,291$23,212
8 years$27,805$25,670$23,688$21,852$20,152$19,116
9 years$24,466$22,350$20,403$18,613$16,971$15,978
10 years$21,795$19,701$17,788$16,044$14,460$13,509
11 years$19,612$17,538$15,660$13,964$12,436$11,527
12 years$17,794$15,741$13,898$12,248$10,777$9,909
13 years$16,257$14,226$12,417$10,813$9,398$8,570
14 years$14,940$12,931$11,156$9,599$8,238$7,450
15 years$13,800$11,812$10,073$8,560$7,253$6,504
16 years$12,804$10,838$9,132$7,665$6,410$5,698
17 years$11,925$9,981$8,310$6,887$5,684$5,008
18 years$11,146$9,223$7,586$6,206$5,054$4,413
19 years$10,449$8,548$6,945$5,608$4,505$3,897
20 years$9,822$7,943$6,374$5,079$4,024$3,449
21 years$9,256$7,399$5,862$4,610$3,601$3,057
22 years$8,742$6,906$5,403$4,191$3,228$2,714
23 years$8,274$6,459$4,989$3,817$2,897$2,413
24 years$7,845$6,052$4,614$3,481$2,604$2,148
25 years$7,451$5,679$4,273$3,179$2,343$1,914
26 years$7,088$5,338$3,963$2,907$2,111$1,707
27 years$6,752$5,024$3,680$2,661$1,903$1,523
28 years$6,441$4,734$3,421$2,438$1,717$1,360
29 years$6,152$4,466$3,184$2,236$1,551$1,216
30 years$5,883$4,217$2,966$2,052$1,401$1,087
31 years$5,631$3,987$2,765$1,884$1,267$973
32 years$5,396$3,772$2,580$1,732$1,146$871
33 years$5,176$3,572$2,409$1,593$1,037$780
34 years$4,968$3,386$2,250$1,465$939$698
35 years$4,774$3,211$2,104$1,349$850$626
36 years$4,590$3,048$1,968$1,242$770$561
37 years$4,417$2,895$1,842$1,145$698$503
38 years$4,253$2,751$1,725$1,055$633$451
39 years$4,098$2,616$1,616$973$574$404
40 years$3,951$2,489$1,515$897$521$363
41 years$3,812$2,369$1,421$828$472$325
42 years$3,679$2,257$1,332$764$429$292
43 years$3,554$2,150$1,250$705$389$262
44 years$3,434$2,049$1,174$651$353$235
45 years$3,320$1,954$1,102$601$321$211
46 years$3,211$1,864$1,035$555$291$190
47 years$3,107$1,779$972$513$264$170
48 years$3,007$1,698$914$474$240$153
49 years$2,913$1,622$859$438$218$137
50 years$2,822$1,549$808$405$198$123

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 $4,037 every year, while hoping to spend $50,860 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: 69/12/19 Blend
60$2,890,000$2,890,000$2,890,000$2,890,000
61$3,188,944$3,035,774$2,990,979$3,393,932
62$3,460,102$3,130,412$3,037,062$3,625,893
63$3,757,213$3,227,983$3,082,985$3,873,250
64$4,082,871$3,328,577$3,128,687$4,142,657
65$4,439,933$3,432,286$3,174,107$4,436,283
66$4,831,544$3,539,206$3,219,177$4,756,520
67$5,261,169$3,649,435$3,263,828$5,106,002
68$5,732,626$3,763,075$3,307,984$5,487,628
69$6,250,119$3,880,230$3,351,566$5,904,594
70$6,818,277$4,001,008$3,394,490$6,360,418
71$7,442,203$4,125,519$3,436,667$6,858,975
72$8,127,516$4,253,878$3,478,003$7,404,534
73$8,880,407$4,386,202$3,518,400$8,001,799
74$9,707,695$4,522,612$3,557,753$8,655,949
75$10,616,893$4,663,233$3,595,951$9,372,691
76$11,616,278$4,808,194$3,632,877$10,158,313
77$12,714,968$4,957,626$3,668,409$11,019,741
78$13,923,011$5,111,666$3,702,417$11,964,605
79$15,251,475$5,270,454$3,734,765$13,001,314
80$16,712,554$5,434,134$3,765,308$14,139,129
81$18,319,684$5,602,856$3,793,895$15,388,257
82$20,087,668$5,776,772$3,820,367$16,759,941
83$22,032,817$5,956,041$3,844,556$18,266,572
84$24,173,101$6,140,824$3,866,286$19,921,799
85$26,528,323$6,331,290$3,885,371$21,740,664
86$29,120,298$6,527,609$3,901,617$23,739,741
87$31,973,066$6,729,960$3,914,819$25,937,289
88$35,113,115$6,938,525$3,924,762$28,353,433
89$38,569,632$7,153,491$3,931,221$31,010,342
90$42,374,775$7,375,052$3,933,957$33,932,450
91$46,563,980$7,603,408$3,932,723$37,146,676
92$51,176,294$7,838,763$3,927,257$40,682,687
93$56,254,742$8,081,329$3,917,286$44,573,171
94$61,846,733$8,331,321$3,902,523$48,854,147
95$68,004,509$8,588,965$3,882,666$53,565,310
96$74,785,634$8,854,490$3,857,401$58,750,397
97$82,253,541$9,128,132$3,826,396$64,457,606
98$90,478,127$9,410,135$3,789,305$70,740,049
99$99,536,415$9,700,751$3,745,766$77,656,253
100$109,513,278$10,000,236$3,695,398$85,270,712