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%18.9%
1 years$238,653$236,528$234,454$232,429$230,453$222,188
2 years$118,145$115,945$113,812$111,745$109,739$101,502
3 years$77,981$75,771$73,644$71,596$69,623$61,672
4 years$57,903$55,700$53,594$51,581$49,656$42,052
5 years$45,859$43,669$41,591$39,619$37,748$30,511
6 years$37,833$35,659$33,612$31,684$29,868$23,004
7 years$32,102$29,947$27,932$26,049$24,291$17,798
8 years$27,805$25,670$23,688$21,852$20,152$14,024
9 years$24,466$22,350$20,403$18,613$16,971$11,200
10 years$21,795$19,701$17,788$16,044$14,460$9,037
11 years$19,612$17,538$15,660$13,964$12,436$7,349
12 years$17,794$15,741$13,898$12,248$10,777$6,013
13 years$16,257$14,226$12,417$10,813$9,398$4,945
14 years$14,940$12,931$11,156$9,599$8,238$4,083
15 years$13,800$11,812$10,073$8,560$7,253$3,381
16 years$12,804$10,838$9,132$7,665$6,410$2,808
17 years$11,925$9,981$8,310$6,887$5,684$2,337
18 years$11,146$9,223$7,586$6,206$5,054$1,948
19 years$10,449$8,548$6,945$5,608$4,505$1,626
20 years$9,822$7,943$6,374$5,079$4,024$1,360
21 years$9,256$7,399$5,862$4,610$3,601$1,138
22 years$8,742$6,906$5,403$4,191$3,228$953
23 years$8,274$6,459$4,989$3,817$2,897$798
24 years$7,845$6,052$4,614$3,481$2,604$669
25 years$7,451$5,679$4,273$3,179$2,343$562
26 years$7,088$5,338$3,963$2,907$2,111$471
27 years$6,752$5,024$3,680$2,661$1,903$396
28 years$6,441$4,734$3,421$2,438$1,717$332
29 years$6,152$4,466$3,184$2,236$1,551$279
30 years$5,883$4,217$2,966$2,052$1,401$235
31 years$5,631$3,987$2,765$1,884$1,267$197
32 years$5,396$3,772$2,580$1,732$1,146$166
33 years$5,176$3,572$2,409$1,593$1,037$139
34 years$4,968$3,386$2,250$1,465$939$117
35 years$4,774$3,211$2,104$1,349$850$98
36 years$4,590$3,048$1,968$1,242$770$83
37 years$4,417$2,895$1,842$1,145$698$70
38 years$4,253$2,751$1,725$1,055$633$58
39 years$4,098$2,616$1,616$973$574$49
40 years$3,951$2,489$1,515$897$521$41
41 years$3,812$2,369$1,421$828$472$35
42 years$3,679$2,257$1,332$764$429$29
43 years$3,554$2,150$1,250$705$389$25
44 years$3,434$2,049$1,174$651$353$21
45 years$3,320$1,954$1,102$601$321$17
46 years$3,211$1,864$1,035$555$291$15
47 years$3,107$1,779$972$513$264$12
48 years$3,007$1,698$914$474$240$10
49 years$2,913$1,622$859$438$218$9
50 years$2,822$1,549$808$405$198$7

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 $2,793 every year, while hoping to spend $56,693 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$3,187,661$3,034,491$2,989,696$3,384,194
62$3,452,481$3,122,860$3,029,530$3,604,626
63$3,742,414$3,213,659$3,068,798$3,838,801
64$4,059,959$3,306,948$3,107,422$4,093,543
65$4,407,872$3,402,785$3,145,318$4,370,874
66$4,789,187$3,501,234$3,182,398$4,673,024
67$5,207,245$3,602,355$3,218,569$5,002,447
68$5,665,726$3,706,212$3,253,733$5,361,848
69$6,168,683$3,812,870$3,287,787$5,754,204
70$6,720,581$3,922,393$3,320,620$6,182,797
71$7,326,338$4,034,848$3,352,118$6,651,241
72$7,991,369$4,150,301$3,382,159$7,163,518
73$8,721,644$4,268,820$3,410,616$7,724,015
74$9,523,733$4,390,474$3,437,353$8,337,563
75$10,404,879$4,515,332$3,462,230$9,009,488
76$11,373,057$4,643,464$3,485,096$9,745,657
77$12,437,057$4,774,942$3,505,794$10,552,531
78$13,606,560$4,909,837$3,524,161$11,437,234
79$14,892,230$5,048,220$3,540,021$12,407,612
80$16,305,820$5,190,165$3,553,194$13,472,310
81$17,860,275$5,335,745$3,563,488$14,640,856
82$19,569,859$5,485,032$3,570,701$15,923,747
83$21,450,288$5,638,102$3,574,623$17,332,549
84$23,518,876$5,795,028$3,575,031$18,880,009
85$25,794,700$5,955,883$3,571,694$20,580,171
86$28,298,782$6,120,743$3,564,367$22,448,512
87$31,054,279$6,289,682$3,552,796$24,502,085
88$34,086,712$6,462,772$3,536,710$26,759,684
89$37,424,197$6,640,088$3,515,830$29,242,018
90$41,097,715$6,821,703$3,489,861$31,971,905
91$45,141,405$7,007,689$3,458,494$34,974,495
92$49,592,879$7,198,117$3,421,405$38,277,498
93$54,493,587$7,393,059$3,378,256$41,911,452
94$59,889,197$7,592,583$3,328,692$45,910,010
95$65,830,033$7,796,757$3,272,341$50,310,254
96$72,371,546$8,005,649$3,208,814$55,153,053
97$79,574,840$8,219,322$3,137,706$60,483,440
98$87,507,244$8,437,839$3,058,589$66,351,044
99$96,242,950$8,661,259$2,971,018$72,810,555
100$105,863,711$8,889,642$2,874,528$79,922,241