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

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$239,479$237,346$235,265$233,234$231,250$229,889
2 years$118,554$116,346$114,206$112,132$110,119$108,746
3 years$78,251$76,033$73,899$71,844$69,864$68,521
4 years$58,103$55,893$53,780$51,759$49,828$48,526
5 years$46,018$43,821$41,735$39,756$37,878$36,621
6 years$37,964$35,783$33,728$31,793$29,972$28,761
7 years$32,213$30,050$28,028$26,139$24,375$23,211
8 years$27,902$25,759$23,770$21,927$20,221$19,104
9 years$24,550$22,428$20,473$18,677$17,029$15,959
10 years$21,871$19,769$17,849$16,100$14,510$13,485
11 years$19,680$17,599$15,714$14,012$12,479$11,500
12 years$17,855$15,796$13,946$12,290$10,814$9,879
13 years$16,313$14,275$12,460$10,850$9,430$8,539
14 years$14,992$12,975$11,195$9,632$8,266$7,418
15 years$13,848$11,853$10,108$8,590$7,278$6,471
16 years$12,848$10,875$9,164$7,691$6,433$5,666
17 years$11,967$10,016$8,339$6,911$5,704$4,976
18 years$11,184$9,255$7,612$6,228$5,071$4,382
19 years$10,485$8,577$6,969$5,627$4,520$3,867
20 years$9,856$7,970$6,396$5,097$4,038$3,420
21 years$9,288$7,424$5,883$4,626$3,613$3,029
22 years$8,772$6,930$5,422$4,206$3,239$2,687
23 years$8,302$6,482$5,006$3,830$2,907$2,387
24 years$7,872$6,073$4,630$3,493$2,613$2,123
25 years$7,477$5,699$4,288$3,190$2,351$1,890
26 years$7,112$5,356$3,977$2,917$2,118$1,684
27 years$6,776$5,041$3,693$2,670$1,910$1,502
28 years$6,463$4,750$3,433$2,446$1,723$1,341
29 years$6,173$4,481$3,195$2,243$1,556$1,197
30 years$5,903$4,232$2,976$2,059$1,406$1,070
31 years$5,651$4,001$2,774$1,891$1,271$956
32 years$5,415$3,785$2,588$1,738$1,150$855
33 years$5,193$3,585$2,417$1,598$1,040$765
34 years$4,986$3,398$2,258$1,470$942$685
35 years$4,790$3,223$2,111$1,354$853$613
36 years$4,606$3,059$1,975$1,247$773$549
37 years$4,432$2,905$1,849$1,149$701$492
38 years$4,268$2,761$1,731$1,059$635$441
39 years$4,112$2,625$1,622$976$576$395
40 years$3,965$2,498$1,520$900$522$354
41 years$3,825$2,378$1,425$831$474$317
42 years$3,692$2,264$1,337$767$430$284
43 years$3,566$2,157$1,255$708$390$255
44 years$3,446$2,056$1,178$653$354$229
45 years$3,331$1,961$1,106$603$322$205
46 years$3,222$1,871$1,039$557$292$184
47 years$3,118$1,785$976$515$265$165
48 years$3,018$1,704$917$476$241$148
49 years$2,923$1,628$862$440$219$133
50 years$2,831$1,555$810$406$199$119

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 $5,446 every year, while hoping to spend $31,082 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: 83/5/12 Blend
60$2,900,000$2,900,000$2,900,000$2,900,000
61$3,201,418$3,047,718$3,002,768$3,459,953
62$3,494,891$3,163,985$3,070,289$3,746,379
63$3,817,257$3,284,907$3,139,031$4,056,197
64$4,171,430$3,410,680$3,209,001$4,395,518
65$4,560,620$3,541,508$3,280,207$4,767,288
66$4,988,365$3,677,603$3,352,655$5,174,756
67$5,458,560$3,819,187$3,426,351$5,621,498
68$5,975,498$3,966,492$3,501,299$6,111,453
69$6,543,909$4,119,761$3,577,503$6,648,960
70$7,169,004$4,279,245$3,654,965$7,238,799
71$7,856,523$4,445,209$3,733,687$7,886,235
72$8,612,792$4,617,928$3,813,670$8,597,068
73$9,444,780$4,797,690$3,894,911$9,377,688
74$10,360,166$4,984,795$3,977,409$10,235,133
75$11,367,410$5,179,557$4,061,158$11,177,158
76$12,475,833$5,382,302$4,146,155$12,212,306
77$13,695,707$5,593,375$4,232,390$13,349,988
78$15,038,350$5,813,130$4,319,856$14,600,574
79$16,516,231$6,041,943$4,408,541$15,975,489
80$18,143,091$6,280,203$4,498,431$17,487,319
81$19,934,071$6,528,317$4,589,513$19,149,931
82$21,905,852$6,786,711$4,681,767$20,978,606
83$24,076,818$7,055,829$4,775,176$22,990,178
84$26,467,224$7,336,135$4,869,715$25,203,196
85$29,099,391$7,628,116$4,965,360$27,638,098
86$31,997,913$7,932,277$5,062,084$30,317,403
87$35,189,891$8,249,150$5,159,855$33,265,923
88$38,705,189$8,579,288$5,258,639$36,510,998
89$42,576,714$8,923,269$5,358,399$40,082,754
90$46,840,728$9,281,698$5,459,095$44,014,385
91$51,537,189$9,655,208$5,560,681$48,342,465
92$56,710,128$10,044,459$5,663,110$53,107,298
93$62,408,066$10,450,142$5,766,329$58,353,294
94$68,684,468$10,872,979$5,870,281$64,129,386
95$75,598,254$11,313,724$5,974,904$70,489,498
96$83,214,346$11,773,167$6,080,134$77,493,045
97$91,604,289$12,252,132$6,185,899$85,205,502
98$100,846,923$12,751,483$6,292,122$93,699,015
99$111,029,123$13,272,119$6,398,722$103,053,084
100$122,246,626$13,814,985$6,505,612$113,355,314