Can I retire at age 61 with 3,400,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $3,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$280,769$278,268$275,828$273,446$271,121$262,547
2 years$138,994$136,406$133,897$131,465$129,105$120,545
3 years$91,743$89,143$86,640$84,231$81,910$73,632
4 years$68,121$65,529$63,052$60,683$58,419$50,486
5 years$53,952$51,376$48,931$46,611$44,409$36,843
6 years$44,509$41,952$39,543$37,275$35,139$27,947
7 years$37,767$35,231$32,861$30,646$28,578$21,758
8 years$32,712$30,200$27,869$25,708$23,708$17,256
9 years$28,783$26,294$24,003$21,897$19,965$13,875
10 years$25,642$23,177$20,926$18,876$17,012$11,272
11 years$23,073$20,633$18,423$16,428$14,631$9,233
12 years$20,934$18,519$16,350$14,409$12,679$7,610
13 years$19,126$16,736$14,608$12,721$11,056$6,305
14 years$17,577$15,213$13,125$11,292$9,692$5,246
15 years$16,236$13,897$11,850$10,071$8,533$4,379
16 years$15,063$12,750$10,744$9,017$7,542$3,665
17 years$14,030$11,742$9,777$8,102$6,687$3,075
18 years$13,112$10,851$8,925$7,302$5,946$2,585
19 years$12,293$10,056$8,170$6,598$5,300$2,176
20 years$11,556$9,345$7,498$5,975$4,734$1,834
21 years$10,890$8,704$6,897$5,423$4,236$1,548
22 years$10,285$8,125$6,357$4,931$3,797$1,307
23 years$9,734$7,599$5,869$4,491$3,408$1,105
24 years$9,229$7,120$5,428$4,096$3,064$935
25 years$8,766$6,682$5,027$3,740$2,757$791
26 years$8,339$6,280$4,663$3,420$2,483$670
27 years$7,944$5,910$4,330$3,130$2,239$567
28 years$7,578$5,569$4,025$2,868$2,020$481
29 years$7,238$5,254$3,746$2,630$1,824$408
30 years$6,921$4,962$3,489$2,414$1,648$346
31 years$6,625$4,690$3,253$2,217$1,490$293
32 years$6,348$4,438$3,035$2,037$1,348$248
33 years$6,089$4,203$2,834$1,874$1,220$211
34 years$5,845$3,983$2,648$1,724$1,104$179
35 years$5,616$3,778$2,475$1,587$1,000$152
36 years$5,400$3,586$2,316$1,461$906$129
37 years$5,196$3,406$2,167$1,347$821$109
38 years$5,003$3,237$2,030$1,241$745$93
39 years$4,821$3,078$1,901$1,144$675$79
40 years$4,648$2,928$1,782$1,056$613$67
41 years$4,484$2,788$1,671$974$556$57
42 years$4,329$2,655$1,568$899$504$48
43 years$4,181$2,529$1,471$830$458$41
44 years$4,040$2,411$1,381$766$415$35
45 years$3,905$2,299$1,297$707$377$29
46 years$3,777$2,193$1,218$654$342$25
47 years$3,655$2,093$1,144$604$311$21
48 years$3,538$1,998$1,075$558$282$18
49 years$3,426$1,908$1,011$516$256$15
50 years$3,320$1,823$950$477$233$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $3,400,000, adding $4,109 every year, while hoping to spend $54,569 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: 37/34/29 Blend
60$3,400,000$3,400,000$3,400,000$3,400,000
61$3,751,038$3,570,838$3,518,138$3,857,191
62$4,075,583$3,687,749$3,577,935$4,053,134
63$4,431,403$3,808,558$3,637,906$4,259,395
64$4,821,630$3,933,401$3,697,999$4,481,165
65$5,249,713$4,062,415$3,758,160$4,719,882
66$5,719,455$4,195,744$3,818,329$4,977,129
67$6,235,039$4,333,535$3,878,443$5,254,648
68$6,801,077$4,475,943$3,938,435$5,554,353
69$7,422,648$4,623,125$3,998,233$5,878,350
70$8,105,347$4,775,247$4,057,763$6,228,957
71$8,855,337$4,932,479$4,116,943$6,608,724
72$9,679,408$5,094,998$4,175,687$7,020,456
73$10,585,041$5,262,986$4,233,906$7,467,242
74$11,580,476$5,436,633$4,291,502$7,952,481
75$12,674,792$5,616,135$4,348,375$8,479,914
76$13,877,990$5,801,695$4,404,415$9,053,660
77$15,201,092$5,993,525$4,459,510$9,678,253
78$16,656,237$6,191,842$4,513,538$10,358,686
79$18,256,804$6,396,872$4,566,372$11,100,455
80$20,017,530$6,608,851$4,617,877$11,909,613
81$21,954,653$6,828,020$4,667,911$12,792,825
82$24,086,066$7,054,631$4,716,324$13,757,432
83$26,431,483$7,288,946$4,762,959$14,811,518
84$29,012,623$7,531,234$4,807,648$15,963,986
85$31,853,422$7,781,776$4,850,215$17,224,642
86$34,980,250$8,040,862$4,890,476$18,604,286
87$38,422,165$8,308,793$4,928,236$20,114,817
88$42,211,184$8,585,881$4,963,290$21,769,339
89$46,382,586$8,872,451$4,995,422$23,582,287
90$50,975,245$9,168,837$5,024,404$25,569,565
91$56,031,998$9,475,388$5,049,999$27,748,690
92$61,600,044$9,792,464$5,071,956$30,138,962
93$67,731,393$10,120,439$5,090,011$32,761,643
94$74,483,356$10,459,701$5,103,888$35,640,155
95$81,919,085$10,810,654$5,113,295$38,800,306
96$90,108,169$11,173,713$5,117,927$42,270,526
97$99,127,289$11,549,312$5,117,465$46,082,142
98$109,060,945$11,937,901$5,111,573$50,269,666
99$120,002,248$12,339,944$5,099,897$54,871,124
100$132,053,802$12,755,926$5,082,068$59,928,415