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

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$238,653$236,528$234,454$232,429$230,453$226,263
2 years$118,145$115,945$113,812$111,745$109,739$105,533
3 years$77,981$75,771$73,644$71,596$69,623$65,531
4 years$57,903$55,700$53,594$51,581$49,656$45,710
5 years$45,859$43,669$41,591$39,619$37,748$33,959
6 years$37,833$35,659$33,612$31,684$29,868$26,242
7 years$32,102$29,947$27,932$26,049$24,291$20,827
8 years$27,805$25,670$23,688$21,852$20,152$16,850
9 years$24,466$22,350$20,403$18,613$16,971$13,829
10 years$21,795$19,701$17,788$16,044$14,460$11,475
11 years$19,612$17,538$15,660$13,964$12,436$9,605
12 years$17,794$15,741$13,898$12,248$10,777$8,095
13 years$16,257$14,226$12,417$10,813$9,398$6,862
14 years$14,940$12,931$11,156$9,599$8,238$5,843
15 years$13,800$11,812$10,073$8,560$7,253$4,995
16 years$12,804$10,838$9,132$7,665$6,410$4,284
17 years$11,925$9,981$8,310$6,887$5,684$3,683
18 years$11,146$9,223$7,586$6,206$5,054$3,175
19 years$10,449$8,548$6,945$5,608$4,505$2,741
20 years$9,822$7,943$6,374$5,079$4,024$2,371
21 years$9,256$7,399$5,862$4,610$3,601$2,054
22 years$8,742$6,906$5,403$4,191$3,228$1,781
23 years$8,274$6,459$4,989$3,817$2,897$1,546
24 years$7,845$6,052$4,614$3,481$2,604$1,344
25 years$7,451$5,679$4,273$3,179$2,343$1,168
26 years$7,088$5,338$3,963$2,907$2,111$1,017
27 years$6,752$5,024$3,680$2,661$1,903$885
28 years$6,441$4,734$3,421$2,438$1,717$771
29 years$6,152$4,466$3,184$2,236$1,551$672
30 years$5,883$4,217$2,966$2,052$1,401$586
31 years$5,631$3,987$2,765$1,884$1,267$511
32 years$5,396$3,772$2,580$1,732$1,146$446
33 years$5,176$3,572$2,409$1,593$1,037$389
34 years$4,968$3,386$2,250$1,465$939$340
35 years$4,774$3,211$2,104$1,349$850$296
36 years$4,590$3,048$1,968$1,242$770$259
37 years$4,417$2,895$1,842$1,145$698$226
38 years$4,253$2,751$1,725$1,055$633$197
39 years$4,098$2,616$1,616$973$574$172
40 years$3,951$2,489$1,515$897$521$151
41 years$3,812$2,369$1,421$828$472$132
42 years$3,679$2,257$1,332$764$429$115
43 years$3,554$2,150$1,250$705$389$100
44 years$3,434$2,049$1,174$651$353$88
45 years$3,320$1,954$1,102$601$321$77
46 years$3,211$1,864$1,035$555$291$67
47 years$3,107$1,779$972$513$264$59
48 years$3,007$1,698$914$474$240$51
49 years$2,913$1,622$859$438$218$45
50 years$2,822$1,549$808$405$198$39

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 $5,992 every year, while hoping to spend $52,976 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: 43/47/10 Blend
60$2,890,000$2,890,000$2,890,000$2,890,000
61$3,190,961$3,037,791$2,992,996$3,318,683
62$3,460,073$3,130,276$3,036,895$3,500,732
63$3,754,859$3,225,518$3,080,489$3,692,007
64$4,077,881$3,323,596$3,123,713$3,898,025
65$4,431,963$3,424,590$3,166,495$4,120,158
66$4,820,212$3,528,584$3,208,762$4,359,911
67$5,246,053$3,635,664$3,250,434$4,618,941
68$5,713,256$3,745,917$3,291,430$4,899,071
69$6,225,975$3,859,434$3,331,660$5,202,303
70$6,788,786$3,976,307$3,371,031$5,530,843
71$7,406,727$4,096,632$3,409,446$5,887,114
72$8,085,352$4,220,505$3,446,801$6,273,786
73$8,830,775$4,348,027$3,482,986$6,693,794
74$9,649,734$4,479,300$3,517,886$7,150,370
75$10,549,650$4,614,429$3,551,379$7,647,069
76$11,538,701$4,753,523$3,583,336$8,187,808
77$12,625,894$4,896,691$3,613,624$8,776,894
78$13,821,153$5,044,047$3,642,098$9,419,072
79$15,135,413$5,195,707$3,668,610$10,119,565
80$16,580,719$5,351,791$3,693,003$10,884,124
81$18,170,343$5,512,419$3,715,109$11,719,080
82$19,918,908$5,677,718$3,734,755$12,631,408
83$21,842,525$5,847,815$3,751,758$13,628,785
84$23,958,946$6,022,841$3,765,925$14,719,668
85$26,287,728$6,202,930$3,777,054$15,913,372
86$28,850,424$6,388,220$3,784,932$17,220,153
87$31,670,776$6,578,853$3,789,337$18,651,310
88$34,774,949$6,774,970$3,790,034$20,219,289
89$38,191,771$6,976,721$3,786,777$21,937,796
90$41,953,007$7,184,256$3,779,309$23,821,932
91$46,093,658$7,397,728$3,767,360$25,888,332
92$50,652,291$7,617,296$3,750,646$28,155,318
93$55,671,402$7,843,121$3,728,870$30,643,078
94$61,197,818$8,075,368$3,701,721$33,373,851
95$67,283,139$8,314,205$3,668,872$36,372,136
96$73,984,222$8,559,803$3,629,982$39,664,927
97$81,363,719$8,812,340$3,584,692$43,281,960
98$89,490,667$9,071,993$3,532,628$47,256,001
99$98,441,141$9,338,947$3,473,398$51,623,148
100$108,298,970$9,613,388$3,406,589$56,423,175