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

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$240,305$238,165$236,076$234,038$232,047$226,899
2 years$118,963$116,747$114,600$112,518$110,499$105,338
3 years$78,521$76,296$74,154$72,091$70,105$65,094
4 years$58,304$56,085$53,965$51,938$49,999$45,176
5 years$46,177$43,972$41,879$39,893$38,009$33,387
6 years$38,095$35,906$33,845$31,903$30,075$25,660
7 years$32,324$30,154$28,125$26,229$24,459$20,251
8 years$27,998$25,847$23,852$22,003$20,291$16,289
9 years$24,635$22,505$20,544$18,742$17,088$13,288
10 years$21,946$19,837$17,911$16,156$14,560$10,959
11 years$19,748$17,660$15,768$14,060$12,522$9,115
12 years$17,917$15,850$13,994$12,333$10,851$7,633
13 years$16,369$14,324$12,503$10,888$9,463$6,427
14 years$15,044$13,020$11,234$9,665$8,295$5,436
15 years$13,896$11,894$10,142$8,620$7,303$4,615
16 years$12,892$10,913$9,196$7,718$6,455$3,930
17 years$12,008$10,050$8,368$6,934$5,723$3,355
18 years$11,223$9,287$7,639$6,249$5,089$2,870
19 years$10,521$8,607$6,993$5,647$4,536$2,460
20 years$9,890$7,998$6,418$5,114$4,051$2,112
21 years$9,320$7,450$5,903$4,641$3,626$1,816
22 years$8,803$6,954$5,441$4,220$3,250$1,563
23 years$8,331$6,504$5,023$3,843$2,917$1,346
24 years$7,899$6,094$4,646$3,505$2,622$1,160
25 years$7,502$5,719$4,303$3,201$2,359$1,001
26 years$7,137$5,375$3,991$2,927$2,125$864
27 years$6,799$5,058$3,706$2,679$1,916$746
28 years$6,486$4,766$3,445$2,455$1,729$645
29 years$6,195$4,497$3,206$2,251$1,561$558
30 years$5,924$4,246$2,986$2,066$1,411$482
31 years$5,670$4,014$2,784$1,897$1,275$417
32 years$5,433$3,798$2,597$1,744$1,154$361
33 years$5,211$3,597$2,425$1,604$1,044$312
34 years$5,003$3,409$2,266$1,475$945$270
35 years$4,807$3,234$2,119$1,358$856$234
36 years$4,622$3,069$1,982$1,251$776$203
37 years$4,447$2,915$1,855$1,152$703$175
38 years$4,282$2,770$1,737$1,062$637$152
39 years$4,126$2,634$1,627$979$578$132
40 years$3,978$2,506$1,525$903$524$114
41 years$3,838$2,386$1,430$834$476$99
42 years$3,705$2,272$1,342$769$432$85
43 years$3,578$2,165$1,259$710$392$74
44 years$3,457$2,064$1,182$656$356$64
45 years$3,343$1,968$1,110$606$323$56
46 years$3,233$1,877$1,042$559$293$48
47 years$3,128$1,791$979$517$266$42
48 years$3,028$1,710$920$477$242$36
49 years$2,933$1,633$865$441$219$31
50 years$2,841$1,560$813$408$199$27

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 $5,252 every year, while hoping to spend $45,014 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: 61/11/28 Blend
60$2,910,000$2,910,000$2,910,000$2,910,000
61$3,212,237$3,058,007$3,012,902$3,383,650
62$3,491,991$3,159,955$3,065,940$3,602,923
63$3,798,771$3,265,390$3,119,246$3,836,854
64$4,135,286$3,374,435$3,172,781$4,091,261
65$4,504,521$3,487,217$3,226,505$4,368,152
66$4,909,761$3,603,870$3,280,372$4,669,739
67$5,354,629$3,724,532$3,334,336$4,998,458
68$5,843,111$3,849,344$3,388,346$5,356,993
69$6,379,601$3,978,454$3,442,349$5,748,297
70$6,968,938$4,112,016$3,496,286$6,175,626
71$7,616,454$4,250,190$3,550,096$6,642,564
72$8,328,023$4,393,139$3,603,714$7,153,059
73$9,110,114$4,541,036$3,657,071$7,711,461
74$9,969,857$4,694,058$3,710,094$8,322,561
75$10,915,104$4,852,389$3,762,704$8,991,638
76$11,954,509$5,016,220$3,814,819$9,724,506
77$13,097,604$5,185,750$3,866,351$10,527,571
78$14,354,892$5,361,184$3,917,206$11,407,890
79$15,737,946$5,542,737$3,967,287$12,373,239
80$17,259,515$5,730,630$4,016,490$13,432,185
81$18,933,648$5,925,093$4,064,705$14,594,164
82$20,775,822$6,126,365$4,111,815$15,869,578
83$22,803,093$6,334,694$4,157,698$17,269,883
84$25,034,252$6,550,337$4,202,224$18,807,703
85$27,490,005$6,773,562$4,245,257$20,496,950
86$30,193,165$7,004,647$4,286,653$22,352,949
87$33,168,872$7,243,878$4,326,260$24,392,590
88$36,444,825$7,491,556$4,363,918$26,634,480
89$40,051,546$7,747,992$4,399,458$29,099,125
90$44,022,667$8,013,507$4,432,703$31,809,119
91$48,395,247$8,288,437$4,463,467$34,789,358
92$53,210,122$8,573,130$4,491,553$38,067,277
93$58,512,289$8,867,947$4,516,754$41,673,106
94$64,351,330$9,173,265$4,538,854$45,640,156
95$70,781,884$9,489,473$4,557,623$50,005,135
96$77,864,156$9,816,977$4,572,824$54,808,493
97$85,664,490$10,156,199$4,584,203$60,094,801
98$94,255,990$10,507,574$4,591,496$65,913,179
99$103,719,215$10,871,560$4,594,425$72,317,751
100$114,142,937$11,248,628$4,592,700$79,368,162