Can I retire at age 61 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$246,911$244,712$242,566$240,472$238,427$235,447
2 years$122,233$119,957$117,751$115,611$113,537$110,539
3 years$80,679$78,393$76,192$74,073$72,032$69,109
4 years$59,907$57,627$55,449$53,366$51,374$48,548
5 years$47,446$45,180$43,030$40,990$39,054$36,333
6 years$39,142$36,893$34,775$32,780$30,902$28,290
7 years$33,213$30,983$28,898$26,950$25,131$22,629
8 years$28,768$26,558$24,508$22,608$20,849$18,456
9 years$25,312$23,124$21,109$19,257$17,558$15,273
10 years$22,550$20,382$18,403$16,600$14,960$12,782
11 years$20,291$18,145$16,202$14,447$12,866$10,793
12 years$18,410$16,286$14,379$12,672$11,150$9,179
13 years$16,819$14,718$12,846$11,187$9,723$7,852
14 years$15,457$13,378$11,542$9,931$8,523$6,750
15 years$14,278$12,221$10,421$8,856$7,504$5,825
16 years$13,247$11,213$9,448$7,930$6,632$5,045
17 years$12,338$10,326$8,598$7,125$5,881$4,381
18 years$11,531$9,542$7,849$6,421$5,229$3,814
19 years$10,810$8,844$7,185$5,802$4,660$3,328
20 years$10,162$8,218$6,594$5,255$4,163$2,909
21 years$9,576$7,655$6,065$4,769$3,725$2,546
22 years$9,045$7,145$5,590$4,336$3,339$2,232
23 years$8,560$6,683$5,161$3,949$2,997$1,959
24 years$8,116$6,261$4,773$3,602$2,694$1,721
25 years$7,709$5,876$4,421$3,289$2,424$1,513
26 years$7,333$5,523$4,100$3,008$2,184$1,331
27 years$6,986$5,197$3,808$2,753$1,969$1,172
28 years$6,664$4,897$3,540$2,522$1,777$1,033
29 years$6,365$4,620$3,294$2,313$1,604$911
30 years$6,086$4,363$3,068$2,123$1,449$803
31 years$5,826$4,125$2,860$1,950$1,310$709
32 years$5,583$3,903$2,669$1,792$1,185$625
33 years$5,355$3,696$2,492$1,648$1,073$552
34 years$5,140$3,503$2,328$1,516$971$488
35 years$4,939$3,323$2,177$1,396$880$431
36 years$4,749$3,154$2,036$1,285$797$381
37 years$4,570$2,995$1,906$1,184$722$336
38 years$4,400$2,846$1,785$1,091$655$297
39 years$4,240$2,707$1,672$1,006$594$263
40 years$4,088$2,575$1,567$928$539$232
41 years$3,944$2,451$1,470$856$489$205
42 years$3,807$2,335$1,379$790$443$182
43 years$3,676$2,224$1,294$730$402$161
44 years$3,553$2,120$1,214$674$365$142
45 years$3,434$2,022$1,140$622$332$126
46 years$3,322$1,929$1,071$575$301$111
47 years$3,214$1,841$1,006$531$273$98
48 years$3,112$1,757$945$491$248$87
49 years$3,013$1,678$889$453$226$77
50 years$2,919$1,603$835$419$205$68

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,990,000, adding $4,071 every year, while hoping to spend $36,511 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: 67/5/28 Blend
60$2,990,000$2,990,000$2,990,000$2,990,000
61$3,299,179$3,140,709$3,094,364$3,495,757
62$3,596,848$3,255,757$3,159,178$3,743,779
63$3,923,655$3,375,218$3,224,939$4,010,467
64$4,282,535$3,499,270$3,291,641$4,301,352
65$4,676,718$3,628,099$3,359,276$4,618,827
66$5,109,765$3,761,897$3,427,833$4,965,528
67$5,585,597$3,900,866$3,497,302$5,344,357
68$6,108,536$4,045,216$3,567,669$5,758,511
69$6,683,340$4,195,165$3,638,920$6,211,514
70$7,315,253$4,350,941$3,711,036$6,707,242
71$8,010,054$4,512,782$3,784,001$7,249,970
72$8,774,106$4,680,935$3,857,792$7,844,403
73$9,614,424$4,855,660$3,932,386$8,495,727
74$10,538,732$5,037,224$4,007,758$9,209,654
75$11,555,544$5,225,910$4,083,880$9,992,474
76$12,674,240$5,422,010$4,160,720$10,851,120
77$13,905,154$5,625,830$4,238,246$11,793,229
78$15,259,673$5,837,688$4,316,420$12,827,214
79$16,750,342$6,057,918$4,395,202$13,962,346
80$18,390,987$6,286,865$4,474,551$15,208,836
81$20,196,838$6,524,893$4,554,420$16,577,936
82$22,184,681$6,772,377$4,634,758$18,082,046
83$24,373,008$7,029,714$4,715,512$19,734,824
84$26,782,198$7,297,312$4,796,625$21,551,321
85$29,434,703$7,575,602$4,878,033$23,548,120
86$32,355,268$7,865,031$4,959,672$25,743,495
87$35,571,153$8,166,066$5,041,469$28,157,578
88$39,112,402$8,479,195$5,123,350$30,812,555
89$43,012,118$8,804,926$5,205,233$33,732,871
90$47,306,778$9,143,791$5,287,031$36,945,461
91$52,036,576$9,496,344$5,368,654$40,480,006
92$57,245,806$9,863,164$5,450,004$44,369,210
93$62,983,275$10,244,856$5,530,975$48,649,113
94$69,302,765$10,642,050$5,611,459$53,359,425
95$76,263,542$11,055,405$5,691,338$58,543,906
96$83,930,913$11,485,609$5,770,487$64,250,774
97$92,376,843$11,933,381$5,848,775$70,533,164
98$101,680,634$12,399,470$5,926,062$77,449,628
99$111,929,675$12,884,660$6,002,202$85,064,686
100$123,220,263$13,389,770$6,077,037$93,449,436