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%12%
1 years$241,957$239,801$237,699$235,646$233,642$231,685
2 years$119,781$117,550$115,388$113,292$111,258$109,285
3 years$79,060$76,820$74,664$72,587$70,587$68,660
4 years$58,704$56,471$54,336$52,295$50,343$48,476
5 years$46,494$44,274$42,167$40,167$38,270$36,469
6 years$38,356$36,153$34,077$32,122$30,282$28,550
7 years$32,546$30,361$28,318$26,409$24,627$22,964
8 years$28,190$26,025$24,016$22,154$20,431$18,837
9 years$24,804$22,660$20,685$18,870$17,206$15,680
10 years$22,097$19,973$18,034$16,267$14,660$13,202
11 years$19,884$17,781$15,877$14,157$12,608$11,217
12 years$18,040$15,959$14,090$12,417$10,926$9,600
13 years$16,482$14,423$12,589$10,963$9,528$8,266
14 years$15,147$13,110$11,311$9,731$8,352$7,152
15 years$13,991$11,976$10,212$8,679$7,354$6,215
16 years$12,981$10,988$9,259$7,771$6,499$5,419
17 years$12,091$10,119$8,425$6,982$5,763$4,740
18 years$11,300$9,351$7,691$6,292$5,124$4,156
19 years$10,593$8,666$7,041$5,686$4,567$3,652
20 years$9,958$8,053$6,462$5,149$4,079$3,216
21 years$9,384$7,501$5,944$4,673$3,651$2,836
22 years$8,863$7,002$5,478$4,249$3,272$2,505
23 years$8,388$6,549$5,058$3,870$2,937$2,215
24 years$7,953$6,136$4,678$3,530$2,640$1,961
25 years$7,554$5,758$4,332$3,223$2,376$1,738
26 years$7,186$5,412$4,018$2,947$2,140$1,541
27 years$6,846$5,093$3,731$2,698$1,929$1,368
28 years$6,530$4,799$3,469$2,472$1,741$1,215
29 years$6,237$4,527$3,228$2,267$1,572$1,080
30 years$5,964$4,276$3,007$2,080$1,420$960
31 years$5,709$4,042$2,803$1,910$1,284$854
32 years$5,471$3,824$2,615$1,756$1,162$760
33 years$5,247$3,622$2,442$1,615$1,051$677
34 years$5,037$3,433$2,282$1,486$952$603
35 years$4,840$3,256$2,133$1,368$862$537
36 years$4,654$3,090$1,995$1,259$781$478
37 years$4,478$2,935$1,868$1,160$708$426
38 years$4,312$2,789$1,749$1,070$642$380
39 years$4,155$2,652$1,639$986$582$339
40 years$4,006$2,524$1,536$910$528$302
41 years$3,865$2,402$1,440$839$479$269
42 years$3,730$2,288$1,351$775$435$240
43 years$3,603$2,180$1,268$715$394$214
44 years$3,481$2,078$1,190$660$358$191
45 years$3,366$1,981$1,117$610$325$171
46 years$3,255$1,890$1,049$563$295$152
47 years$3,150$1,804$986$520$268$136
48 years$3,049$1,722$926$481$243$121
49 years$2,953$1,644$871$444$221$108
50 years$2,861$1,571$819$411$201$97

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 $3,469 every year, while hoping to spend $27,166 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: 65/10/25 Blend
60$2,930,000$2,930,000$2,930,000$2,930,000
61$3,232,438$3,077,148$3,031,733$3,421,228
62$3,533,243$3,199,024$3,104,392$3,670,837
63$3,863,818$3,325,961$3,178,574$3,940,183
64$4,227,174$3,458,179$3,254,302$4,233,965
65$4,626,623$3,595,907$3,331,599$4,554,587
66$5,065,816$3,739,385$3,410,485$4,904,694
67$5,548,777$3,888,862$3,490,983$5,287,199
68$6,079,936$4,044,600$3,573,115$5,705,311
69$6,664,176$4,206,873$3,656,902$6,162,560
70$7,306,878$4,375,965$3,742,364$6,662,837
71$8,013,969$4,552,177$3,829,522$7,210,423
72$8,791,979$4,735,819$3,918,397$7,810,034
73$9,648,105$4,927,218$4,009,007$8,466,865
74$10,590,275$5,126,715$4,101,372$9,186,636
75$11,627,225$5,334,666$4,195,510$9,975,645
76$12,768,582$5,551,444$4,291,440$10,840,833
77$14,024,951$5,777,439$4,389,177$11,789,842
78$15,408,021$6,013,058$4,488,738$12,831,091
79$16,930,668$6,258,726$4,590,140$13,973,852
80$18,607,082$6,514,890$4,693,396$15,228,340
81$20,452,899$6,782,015$4,798,520$16,605,809
82$22,485,349$7,060,587$4,905,524$18,118,652
83$24,723,415$7,351,117$5,014,419$19,780,526
84$27,188,017$7,654,136$5,125,217$21,606,474
85$29,902,208$7,970,201$5,237,924$23,613,068
86$32,891,388$8,299,896$5,352,550$25,818,567
87$36,183,548$8,643,829$5,469,098$28,243,086
88$39,809,531$9,002,638$5,587,575$30,908,785
89$43,803,325$9,376,989$5,707,980$33,840,081
90$48,202,383$9,767,580$5,830,316$37,063,875
91$53,047,975$10,175,141$5,954,580$40,609,805
92$58,385,579$10,600,433$6,080,769$44,510,526
93$64,265,310$11,044,256$6,208,877$48,802,018
94$70,742,392$11,507,445$6,338,895$53,523,924
95$77,877,681$11,990,875$6,470,813$58,719,922
96$85,738,235$12,495,458$6,604,615$64,438,141
97$94,397,951$13,022,153$6,740,287$70,731,608
98$103,938,264$13,571,959$6,877,808$77,658,755
99$114,448,907$14,145,926$7,017,155$85,283,963
100$126,028,768$14,745,148$7,158,301$93,678,173