Can I retire at age 61 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$243,608$241,438$239,321$237,255$235,237$226,620
2 years$120,598$118,352$116,175$114,065$112,018$103,432
3 years$79,600$77,344$75,173$73,082$71,069$62,785
4 years$59,105$56,856$54,707$52,652$50,687$42,768
5 years$46,811$44,576$42,455$40,442$38,531$30,997
6 years$38,618$36,400$34,310$32,341$30,488$23,345
7 years$32,768$30,568$28,512$26,590$24,795$18,041
8 years$28,383$26,203$24,180$22,305$20,570$14,199
9 years$24,974$22,814$20,826$18,999$17,323$11,326
10 years$22,248$20,110$18,157$16,378$14,760$9,127
11 years$20,019$17,902$15,985$14,253$12,694$7,412
12 years$18,163$16,068$14,186$12,502$11,000$6,057
13 years$16,594$14,521$12,674$11,038$9,593$4,974
14 years$15,250$13,199$11,388$9,798$8,409$4,101
15 years$14,087$12,058$10,282$8,738$7,404$3,392
16 years$13,070$11,063$9,322$7,824$6,544$2,812
17 years$12,173$10,188$8,483$7,030$5,802$2,337
18 years$11,377$9,414$7,744$6,335$5,159$1,945
19 years$10,666$8,725$7,089$5,724$4,598$1,622
20 years$10,026$8,108$6,506$5,185$4,107$1,354
21 years$9,448$7,552$5,984$4,705$3,675$1,131
22 years$8,924$7,050$5,515$4,278$3,295$945
23 years$8,445$6,593$5,092$3,896$2,957$791
24 years$8,008$6,178$4,710$3,554$2,658$662
25 years$7,606$5,797$4,362$3,245$2,392$555
26 years$7,235$5,449$4,046$2,967$2,155$465
27 years$6,892$5,128$3,757$2,716$1,943$390
28 years$6,575$4,832$3,492$2,489$1,753$327
29 years$6,280$4,558$3,250$2,282$1,583$274
30 years$6,005$4,305$3,027$2,094$1,430$230
31 years$5,748$4,070$2,822$1,923$1,293$193
32 years$5,508$3,851$2,633$1,768$1,170$162
33 years$5,283$3,647$2,459$1,626$1,058$136
34 years$5,072$3,456$2,297$1,496$958$114
35 years$4,873$3,278$2,148$1,377$868$96
36 years$4,685$3,111$2,009$1,268$786$80
37 years$4,508$2,955$1,880$1,168$713$67
38 years$4,341$2,808$1,761$1,077$646$57
39 years$4,183$2,671$1,650$993$586$47
40 years$4,033$2,541$1,546$916$531$40
41 years$3,891$2,419$1,450$845$482$33
42 years$3,756$2,303$1,360$780$438$28
43 years$3,627$2,195$1,276$720$397$24
44 years$3,505$2,092$1,198$665$360$20
45 years$3,388$1,995$1,125$614$327$17
46 years$3,277$1,903$1,057$567$297$14
47 years$3,171$1,816$993$524$270$12
48 years$3,070$1,734$933$484$245$10
49 years$2,973$1,656$877$447$223$8
50 years$2,880$1,581$824$414$202$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,950,000, adding $5,811 every year, while hoping to spend $40,069 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: 48/27/25 Blend
60$2,950,000$2,950,000$2,950,000$2,950,000
61$3,256,894$3,100,544$3,054,819$3,389,800
62$3,546,464$3,209,838$3,114,522$3,592,783
63$3,864,227$3,323,144$3,174,883$3,808,649
64$4,213,017$3,440,616$3,235,880$4,042,275
65$4,595,955$3,562,416$3,297,492$4,295,351
66$5,016,478$3,688,711$3,359,694$4,569,737
67$5,478,375$3,819,673$3,422,459$4,867,478
68$5,985,816$3,955,485$3,485,759$5,190,826
69$6,543,399$4,096,333$3,549,562$5,542,257
70$7,156,187$4,242,415$3,613,833$5,924,496
71$7,829,759$4,393,933$3,678,537$6,340,542
72$8,570,259$4,551,101$3,743,633$6,793,696
73$9,384,459$4,714,138$3,809,078$7,287,591
74$10,279,818$4,883,275$3,874,826$7,826,226
75$11,264,556$5,058,752$3,940,829$8,414,004
76$12,347,727$5,240,817$4,007,033$9,055,771
77$13,539,308$5,429,730$4,073,382$9,756,865
78$14,850,292$5,625,762$4,139,815$10,523,161
79$16,292,791$5,829,193$4,206,268$11,361,128
80$17,880,149$6,040,317$4,272,672$12,277,892
81$19,627,071$6,259,440$4,338,953$13,281,297
82$21,549,758$6,486,878$4,405,034$14,379,983
83$23,666,062$6,722,964$4,470,831$15,583,466
84$25,995,653$6,968,042$4,536,257$16,902,227
85$28,560,206$7,222,472$4,601,217$18,347,806
86$31,383,602$7,486,628$4,665,613$19,932,919
87$34,492,158$7,760,902$4,729,340$21,671,568
88$37,914,871$8,045,698$4,792,285$23,579,178
89$41,683,692$8,341,442$4,854,331$25,672,740
90$45,833,830$8,648,574$4,915,353$27,970,972
91$50,404,083$8,967,556$4,975,219$30,494,492
92$55,437,200$9,298,867$5,033,790$33,266,013
93$60,980,289$9,643,007$5,090,917$36,310,557
94$67,085,262$10,000,497$5,146,445$39,655,690
95$73,809,318$10,371,881$5,200,211$43,331,781
96$81,215,491$10,757,726$5,252,041$47,372,289
97$89,373,239$11,158,622$5,301,752$51,814,073
98$98,359,101$11,575,186$5,349,152$56,697,746
99$108,257,420$12,008,060$5,394,039$62,068,050
100$119,161,135$12,457,915$5,436,198$67,974,283