Can I retire at age 61 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$241,957$239,801$237,699$235,646$233,642$228,738
2 years$119,781$117,550$115,388$113,292$111,258$106,340
3 years$79,060$76,820$74,664$72,587$70,587$65,809
4 years$58,704$56,471$54,336$52,295$50,343$45,742
5 years$46,494$44,274$42,167$40,167$38,270$33,858
6 years$38,356$36,153$34,077$32,122$30,282$26,064
7 years$32,546$30,361$28,318$26,409$24,627$20,605
8 years$28,190$26,025$24,016$22,154$20,431$16,603
9 years$24,804$22,660$20,685$18,870$17,206$13,569
10 years$22,097$19,973$18,034$16,267$14,660$11,211
11 years$19,884$17,781$15,877$14,157$12,608$9,342
12 years$18,040$15,959$14,090$12,417$10,926$7,839
13 years$16,482$14,423$12,589$10,963$9,528$6,613
14 years$15,147$13,110$11,311$9,731$8,352$5,605
15 years$13,991$11,976$10,212$8,679$7,354$4,768
16 years$12,981$10,988$9,259$7,771$6,499$4,069
17 years$12,091$10,119$8,425$6,982$5,763$3,481
18 years$11,300$9,351$7,691$6,292$5,124$2,985
19 years$10,593$8,666$7,041$5,686$4,567$2,564
20 years$9,958$8,053$6,462$5,149$4,079$2,206
21 years$9,384$7,501$5,944$4,673$3,651$1,901
22 years$8,863$7,002$5,478$4,249$3,272$1,640
23 years$8,388$6,549$5,058$3,870$2,937$1,416
24 years$7,953$6,136$4,678$3,530$2,640$1,224
25 years$7,554$5,758$4,332$3,223$2,376$1,058
26 years$7,186$5,412$4,018$2,947$2,140$916
27 years$6,846$5,093$3,731$2,698$1,929$793
28 years$6,530$4,799$3,469$2,472$1,741$687
29 years$6,237$4,527$3,228$2,267$1,572$595
30 years$5,964$4,276$3,007$2,080$1,420$516
31 years$5,709$4,042$2,803$1,910$1,284$447
32 years$5,471$3,824$2,615$1,756$1,162$388
33 years$5,247$3,622$2,442$1,615$1,051$337
34 years$5,037$3,433$2,282$1,486$952$292
35 years$4,840$3,256$2,133$1,368$862$253
36 years$4,654$3,090$1,995$1,259$781$220
37 years$4,478$2,935$1,868$1,160$708$191
38 years$4,312$2,789$1,749$1,070$642$166
39 years$4,155$2,652$1,639$986$582$144
40 years$4,006$2,524$1,536$910$528$125
41 years$3,865$2,402$1,440$839$479$109
42 years$3,730$2,288$1,351$775$435$94
43 years$3,603$2,180$1,268$715$394$82
44 years$3,481$2,078$1,190$660$358$71
45 years$3,366$1,981$1,117$610$325$62
46 years$3,255$1,890$1,049$563$295$54
47 years$3,150$1,804$986$520$268$47
48 years$3,049$1,722$926$481$243$40
49 years$2,953$1,644$871$444$221$35
50 years$2,861$1,571$819$411$201$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,930,000, adding $5,327 every year, while hoping to spend $44,324 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: 27/48/25 Blend
60$2,930,000$2,930,000$2,930,000$2,930,000
61$3,234,355$3,079,065$3,033,650$3,296,213
62$3,517,099$3,182,779$3,088,117$3,449,765
63$3,827,197$3,290,089$3,142,923$3,610,314
64$4,167,392$3,401,125$3,198,032$3,781,774
65$4,540,708$3,516,021$3,253,407$3,965,104
66$4,950,470$3,634,917$3,309,007$4,161,354
67$5,400,347$3,757,957$3,364,788$4,371,676
68$5,894,377$3,885,291$3,420,703$4,597,335
69$6,437,008$4,017,075$3,476,701$4,839,720
70$7,033,142$4,153,470$3,532,729$5,100,358
71$7,688,178$4,294,646$3,588,731$5,380,924
72$8,408,063$4,440,775$3,644,645$5,683,261
73$9,199,351$4,592,038$3,700,406$6,009,393
74$10,069,261$4,748,624$3,755,946$6,361,544
75$11,025,746$4,910,727$3,811,190$6,742,161
76$12,077,570$5,078,550$3,866,063$7,153,933
77$13,234,386$5,252,303$3,920,480$7,599,817
78$14,506,832$5,432,205$3,974,355$8,083,065
79$15,906,628$5,618,482$4,027,594$8,607,255
80$17,446,686$5,811,369$4,080,100$9,176,322
81$19,141,233$6,011,112$4,131,769$9,794,596
82$21,005,946$6,217,964$4,182,491$10,466,841
83$23,058,098$6,432,189$4,232,150$11,198,300
84$25,316,720$6,654,062$4,280,623$11,994,742
85$27,802,783$6,883,868$4,327,780$12,862,516
86$30,539,392$7,121,903$4,373,486$13,808,611
87$33,552,008$7,368,474$4,417,596$14,840,721
88$36,868,685$7,623,902$4,459,958$15,967,315
89$40,520,336$7,888,518$4,500,412$17,197,717
90$44,541,023$8,162,669$4,538,789$18,542,192
91$48,968,280$8,446,712$4,574,911$20,012,043
92$53,843,466$8,741,022$4,608,592$21,619,716
93$59,212,154$9,045,987$4,639,634$23,378,916
94$65,124,563$9,362,009$4,667,831$25,304,734
95$71,636,029$9,689,509$4,692,964$27,413,790
96$78,807,531$10,028,922$4,714,806$29,724,390
97$86,706,263$10,380,702$4,733,115$32,256,690
98$95,406,266$10,745,321$4,747,638$35,032,896
99$104,989,132$11,123,269$4,758,112$38,077,462
100$115,544,771$11,515,057$4,764,256$41,417,326