Can I retire at age 61 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$240,305$238,165$236,076$234,038$232,047$230,007
2 years$118,963$116,747$114,600$112,518$110,499$108,443
3 years$78,521$76,296$74,154$72,091$70,105$68,097
4 years$58,304$56,085$53,965$51,938$49,999$48,055
5 years$46,177$43,972$41,879$39,893$38,009$36,134
6 years$38,095$35,906$33,845$31,903$30,075$28,271
7 years$32,324$30,154$28,125$26,229$24,459$22,728
8 years$27,998$25,847$23,852$22,003$20,291$18,632
9 years$24,635$22,505$20,544$18,742$17,088$15,501
10 years$21,946$19,837$17,911$16,156$14,560$13,044
11 years$19,748$17,660$15,768$14,060$12,522$11,075
12 years$17,917$15,850$13,994$12,333$10,851$9,473
13 years$16,369$14,324$12,503$10,888$9,463$8,151
14 years$15,044$13,020$11,234$9,665$8,295$7,048
15 years$13,896$11,894$10,142$8,620$7,303$6,120
16 years$12,892$10,913$9,196$7,718$6,455$5,333
17 years$12,008$10,050$8,368$6,934$5,723$4,661
18 years$11,223$9,287$7,639$6,249$5,089$4,084
19 years$10,521$8,607$6,993$5,647$4,536$3,586
20 years$9,890$7,998$6,418$5,114$4,051$3,155
21 years$9,320$7,450$5,903$4,641$3,626$2,781
22 years$8,803$6,954$5,441$4,220$3,250$2,454
23 years$8,331$6,504$5,023$3,843$2,917$2,169
24 years$7,899$6,094$4,646$3,505$2,622$1,918
25 years$7,502$5,719$4,303$3,201$2,359$1,699
26 years$7,137$5,375$3,991$2,927$2,125$1,505
27 years$6,799$5,058$3,706$2,679$1,916$1,335
28 years$6,486$4,766$3,445$2,455$1,729$1,185
29 years$6,195$4,497$3,206$2,251$1,561$1,052
30 years$5,924$4,246$2,986$2,066$1,411$935
31 years$5,670$4,014$2,784$1,897$1,275$831
32 years$5,433$3,798$2,597$1,744$1,154$739
33 years$5,211$3,597$2,425$1,604$1,044$657
34 years$5,003$3,409$2,266$1,475$945$585
35 years$4,807$3,234$2,119$1,358$856$520
36 years$4,622$3,069$1,982$1,251$776$463
37 years$4,447$2,915$1,855$1,152$703$413
38 years$4,282$2,770$1,737$1,062$637$367
39 years$4,126$2,634$1,627$979$578$327
40 years$3,978$2,506$1,525$903$524$292
41 years$3,838$2,386$1,430$834$476$260
42 years$3,705$2,272$1,342$769$432$232
43 years$3,578$2,165$1,259$710$392$206
44 years$3,457$2,064$1,182$656$356$184
45 years$3,343$1,968$1,110$606$323$164
46 years$3,233$1,877$1,042$559$293$146
47 years$3,128$1,791$979$517$266$130
48 years$3,028$1,710$920$477$242$116
49 years$2,933$1,633$865$441$219$104
50 years$2,841$1,560$813$408$199$92

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,910,000, adding $4,645 every year, while hoping to spend $23,372 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: 77/7/16 Blend
60$2,910,000$2,910,000$2,910,000$2,910,000
61$3,211,611$3,057,381$3,012,276$3,447,376
62$3,514,328$3,182,325$3,088,320$3,728,582
63$3,847,139$3,312,608$3,166,128$4,033,487
64$4,213,088$3,448,467$3,245,734$4,367,220
65$4,615,530$3,590,150$3,327,174$4,732,652
66$5,058,162$3,737,915$3,410,482$5,132,944
67$5,545,056$3,892,034$3,495,694$5,571,578
68$6,080,698$4,052,790$3,582,846$6,052,387
69$6,670,032$4,220,479$3,671,974$6,579,595
70$7,318,505$4,395,412$3,763,115$7,157,851
71$8,032,118$4,577,913$3,856,305$7,792,279
72$8,817,484$4,768,321$3,951,581$8,488,520
73$9,681,889$4,966,991$4,048,981$9,252,791
74$10,633,362$5,174,293$4,148,542$10,091,935
75$11,680,748$5,390,617$4,250,302$11,013,495
76$12,833,796$5,616,369$4,354,298$12,025,779
77$14,103,245$5,851,973$4,460,569$13,137,936
78$15,500,931$6,097,874$4,569,153$14,360,049
79$17,039,894$6,354,538$4,680,088$15,703,224
80$18,734,504$6,622,452$4,793,412$17,179,697
81$20,600,596$6,902,124$4,909,163$18,802,946
82$22,655,616$7,194,088$5,027,380$20,587,824
83$24,918,792$7,498,901$5,148,100$22,550,692
84$27,411,310$7,817,148$5,271,363$24,709,575
85$30,156,515$8,149,440$5,397,204$27,084,336
86$33,180,132$8,496,415$5,525,663$29,696,856
87$36,510,509$8,858,742$5,656,777$32,571,245
88$40,178,883$9,237,123$5,790,581$35,734,066
89$44,219,678$9,632,291$5,927,114$39,214,589
90$48,670,823$10,045,011$6,066,411$43,045,063
91$53,574,119$10,476,089$6,208,507$47,261,019
92$58,975,625$10,926,363$6,353,438$51,901,611
93$64,926,099$11,396,715$6,501,239$57,009,978
94$71,481,473$11,888,065$6,651,941$62,633,653
95$78,703,381$12,401,379$6,805,579$68,825,014
96$86,659,744$12,937,664$6,962,184$75,641,772
97$95,425,407$13,497,979$7,121,787$83,147,520
98$105,082,849$14,083,430$7,284,417$91,412,331
99$115,722,957$14,695,176$7,450,103$100,513,415
100$127,445,889$15,334,430$7,618,871$110,535,855