Can I retire at age 61 with 2,900,000?

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$239,479$237,346$235,265$233,234$231,250$227,794
2 years$118,554$116,346$114,206$112,132$110,119$106,645
3 years$78,251$76,033$73,899$71,844$69,864$66,480
4 years$58,103$55,893$53,780$51,759$49,828$46,560
5 years$46,018$43,821$41,735$39,756$37,878$34,736
6 years$37,964$35,783$33,728$31,793$29,972$26,959
7 years$32,213$30,050$28,028$26,139$24,375$21,492
8 years$27,902$25,759$23,770$21,927$20,221$17,468
9 years$24,550$22,428$20,473$18,677$17,029$14,405
10 years$21,871$19,769$17,849$16,100$14,510$12,012
11 years$19,680$17,599$15,714$14,012$12,479$10,105
12 years$17,855$15,796$13,946$12,290$10,814$8,561
13 years$16,313$14,275$12,460$10,850$9,430$7,294
14 years$14,992$12,975$11,195$9,632$8,266$6,245
15 years$13,848$11,853$10,108$8,590$7,278$5,368
16 years$12,848$10,875$9,164$7,691$6,433$4,629
17 years$11,967$10,016$8,339$6,911$5,704$4,003
18 years$11,184$9,255$7,612$6,228$5,071$3,470
19 years$10,485$8,577$6,969$5,627$4,520$3,015
20 years$9,856$7,970$6,396$5,097$4,038$2,623
21 years$9,288$7,424$5,883$4,626$3,613$2,286
22 years$8,772$6,930$5,422$4,206$3,239$1,995
23 years$8,302$6,482$5,006$3,830$2,907$1,742
24 years$7,872$6,073$4,630$3,493$2,613$1,524
25 years$7,477$5,699$4,288$3,190$2,351$1,333
26 years$7,112$5,356$3,977$2,917$2,118$1,168
27 years$6,776$5,041$3,693$2,670$1,910$1,023
28 years$6,463$4,750$3,433$2,446$1,723$897
29 years$6,173$4,481$3,195$2,243$1,556$787
30 years$5,903$4,232$2,976$2,059$1,406$691
31 years$5,651$4,001$2,774$1,891$1,271$606
32 years$5,415$3,785$2,588$1,738$1,150$533
33 years$5,193$3,585$2,417$1,598$1,040$468
34 years$4,986$3,398$2,258$1,470$942$411
35 years$4,790$3,223$2,111$1,354$853$361
36 years$4,606$3,059$1,975$1,247$773$318
37 years$4,432$2,905$1,849$1,149$701$279
38 years$4,268$2,761$1,731$1,059$635$246
39 years$4,112$2,625$1,622$976$576$216
40 years$3,965$2,498$1,520$900$522$190
41 years$3,825$2,378$1,425$831$474$167
42 years$3,692$2,264$1,337$767$430$147
43 years$3,566$2,157$1,255$708$390$129
44 years$3,446$2,056$1,178$653$354$114
45 years$3,331$1,961$1,106$603$322$100
46 years$3,222$1,871$1,039$557$292$88
47 years$3,118$1,785$976$515$265$78
48 years$3,018$1,704$917$476$241$68
49 years$2,923$1,628$862$440$219$60
50 years$2,831$1,555$810$406$199$53

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,900,000, adding $3,820 every year, while hoping to spend $56,839 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: 54/38/8 Blend
60$2,900,000$2,900,000$2,900,000$2,900,000
61$3,199,740$3,046,040$3,001,090$3,366,143
62$3,465,638$3,134,820$3,041,151$3,567,995
63$3,756,751$3,226,045$3,080,648$3,781,006
64$4,075,594$3,319,775$3,119,503$4,011,468
65$4,424,931$3,416,071$3,157,634$4,261,045
66$4,807,810$3,514,994$3,194,950$4,531,566
67$5,227,586$3,616,608$3,231,361$4,825,047
68$5,687,955$3,720,977$3,266,766$5,143,704
69$6,192,987$3,828,165$3,301,063$5,489,977
70$6,747,165$3,938,239$3,334,142$5,866,550
71$7,355,427$4,051,264$3,365,888$6,276,381
72$8,023,215$4,167,310$3,396,179$6,722,722
73$8,756,518$4,286,444$3,424,886$7,209,158
74$9,561,940$4,408,736$3,451,876$7,739,632
75$10,446,750$4,534,257$3,477,007$8,318,489
76$11,418,960$4,663,077$3,500,128$8,950,511
77$12,487,394$4,795,268$3,521,083$9,640,967
78$13,661,776$4,930,903$3,539,706$10,395,656
79$14,952,815$5,070,056$3,555,825$11,220,968
80$16,372,313$5,212,799$3,569,256$12,123,941
81$17,933,270$5,359,208$3,579,807$13,112,323
82$19,650,011$5,509,357$3,587,278$14,194,654
83$21,538,318$5,663,320$3,591,457$15,380,336
84$23,615,577$5,821,174$3,592,122$16,679,730
85$25,900,948$5,982,994$3,589,040$18,104,246
86$28,415,540$6,148,855$3,581,968$19,666,457
87$31,182,610$6,318,834$3,570,649$21,380,212
88$34,227,784$6,493,005$3,554,813$23,260,769
89$37,579,299$6,671,444$3,534,181$25,324,938
90$41,268,268$6,854,225$3,508,456$27,591,239
91$45,328,972$7,041,422$3,477,330$30,080,077
92$49,799,185$7,233,110$3,440,479$32,813,932
93$54,720,529$7,429,359$3,397,562$35,817,575
94$60,138,868$7,630,243$3,348,225$39,118,298
95$66,104,738$7,835,831$3,292,097$42,746,171
96$72,673,826$8,046,191$3,228,786$46,734,328
97$79,907,492$8,261,390$3,157,887$51,119,277
98$87,873,352$8,481,494$3,078,971$55,941,245
99$96,645,912$8,706,564$2,991,594$61,244,557
100$106,307,270$8,936,662$2,895,289$67,078,056