Can I retire at age 61 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$241,131$238,983$236,887$234,842$232,845$225,121
2 years$119,372$117,149$114,994$112,905$110,879$103,172
3 years$78,791$76,558$74,409$72,339$70,346$62,898
4 years$58,504$56,278$54,150$52,116$50,171$43,040
5 years$46,335$44,123$42,023$40,030$38,139$31,343
6 years$38,225$36,030$33,961$32,013$30,178$23,723
7 years$32,435$30,258$28,222$26,319$24,543$18,427
8 years$28,094$25,936$23,934$22,079$20,361$14,580
9 years$24,720$22,582$20,614$18,806$17,147$11,694
10 years$22,022$19,905$17,972$16,211$14,610$9,477
11 years$19,816$17,720$15,822$14,108$12,565$7,742
12 years$17,979$15,905$14,042$12,375$10,889$6,365
13 years$16,425$14,373$12,546$10,925$9,495$5,259
14 years$15,095$13,065$11,272$9,698$8,323$4,363
15 years$13,944$11,935$10,177$8,649$7,329$3,632
16 years$12,937$10,950$9,227$7,744$6,477$3,031
17 years$12,049$10,085$8,396$6,958$5,743$2,536
18 years$11,261$9,319$7,665$6,271$5,106$2,125
19 years$10,557$8,637$7,017$5,666$4,551$1,783
20 years$9,924$8,025$6,440$5,132$4,065$1,499
21 years$9,352$7,475$5,923$4,657$3,638$1,261
22 years$8,833$6,978$5,459$4,235$3,261$1,062
23 years$8,360$6,526$5,041$3,857$2,927$895
24 years$7,926$6,115$4,662$3,517$2,631$754
25 years$7,528$5,738$4,318$3,212$2,368$636
26 years$7,161$5,393$4,004$2,937$2,133$537
27 years$6,822$5,076$3,718$2,688$1,923$454
28 years$6,508$4,783$3,457$2,463$1,735$383
29 years$6,216$4,512$3,217$2,259$1,567$324
30 years$5,944$4,261$2,996$2,073$1,416$273
31 years$5,690$4,028$2,793$1,904$1,280$231
32 years$5,452$3,811$2,606$1,750$1,158$195
33 years$5,229$3,609$2,434$1,609$1,048$165
34 years$5,020$3,421$2,274$1,480$949$140
35 years$4,823$3,245$2,126$1,363$859$118
36 years$4,638$3,080$1,989$1,255$778$100
37 years$4,463$2,925$1,861$1,156$706$84
38 years$4,297$2,780$1,743$1,066$640$71
39 years$4,140$2,643$1,633$983$580$60
40 years$3,992$2,515$1,531$907$526$51
41 years$3,851$2,394$1,435$836$477$43
42 years$3,718$2,280$1,346$772$433$37
43 years$3,590$2,172$1,263$713$393$31
44 years$3,469$2,071$1,186$658$357$26
45 years$3,354$1,975$1,113$608$324$22
46 years$3,244$1,884$1,046$561$294$19
47 years$3,139$1,798$983$519$267$16
48 years$3,039$1,716$923$479$243$13
49 years$2,943$1,639$868$443$220$11
50 years$2,851$1,565$816$409$200$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,920,000, adding $6,129 every year, while hoping to spend $50,489 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: 54/30/16 Blend
60$2,920,000$2,920,000$2,920,000$2,920,000
61$3,224,162$3,069,402$3,024,142$3,384,172
62$3,499,307$3,166,083$3,071,731$3,590,712
63$3,800,824$3,265,809$3,119,222$3,809,503
64$4,131,350$3,368,676$3,166,558$4,046,523
65$4,493,790$3,474,783$3,213,680$4,303,523
66$4,891,341$3,584,232$3,260,523$4,582,427
67$5,327,527$3,697,129$3,307,020$4,885,354
68$5,806,228$3,813,581$3,353,098$5,214,635
69$6,331,718$3,933,701$3,398,681$5,572,836
70$6,908,706$4,057,605$3,443,690$5,962,783
71$7,542,378$4,185,411$3,488,037$6,387,585
72$8,238,447$4,317,243$3,531,633$6,850,666
73$9,003,208$4,453,227$3,574,382$7,355,797
74$9,843,594$4,593,494$3,616,182$7,907,127
75$10,767,244$4,738,179$3,656,928$8,509,227
76$11,782,574$4,887,422$3,696,507$9,167,132
77$12,898,856$5,041,364$3,734,799$9,886,383
78$14,126,304$5,200,156$3,771,679$10,673,085
79$15,476,172$5,363,949$3,807,016$11,533,962
80$16,960,860$5,532,900$3,840,669$12,476,420
81$18,594,029$5,707,173$3,872,492$13,508,614
82$20,390,730$5,886,935$3,902,331$14,639,529
83$22,367,549$6,072,359$3,930,023$15,879,063
84$24,542,757$6,263,623$3,955,397$17,238,116
85$26,936,489$6,460,911$3,978,274$18,728,699
86$29,570,928$6,664,413$3,998,463$20,364,041
87$32,470,517$6,874,324$4,015,766$22,158,717
88$35,662,191$7,090,847$4,029,975$24,128,783
89$39,175,625$7,314,189$4,040,870$26,291,930
90$43,043,520$7,544,565$4,048,221$28,667,645
91$47,301,907$7,782,198$4,051,785$31,277,402
92$51,990,491$8,027,314$4,051,308$34,144,856
93$57,153,019$8,280,151$4,046,525$37,296,073
94$62,837,700$8,540,951$4,037,157$40,759,770
95$69,097,652$8,809,965$4,022,909$44,567,588
96$75,991,411$9,087,451$4,003,474$48,754,391
97$83,583,476$9,373,678$3,978,532$53,358,593
98$91,944,921$9,668,918$3,947,743$58,422,519
99$101,154,066$9,973,458$3,910,755$63,992,807
100$111,297,212$10,287,589$3,867,197$70,120,846