Can I retire at age 61 with 4,700,000?

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 $4,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$388,122$384,664$381,291$377,999$374,785$360,199
2 years$192,139$188,561$185,093$181,730$178,469$163,950
3 years$126,821$123,227$119,767$116,436$113,228$99,234
4 years$94,168$90,585$87,160$83,886$80,755$67,391
5 years$74,581$71,019$67,640$64,432$61,389$48,690
6 years$61,527$57,993$54,663$51,527$48,575$36,549
7 years$52,207$48,702$45,425$42,363$39,504$28,148
8 years$45,220$41,747$38,524$35,538$32,773$22,074
9 years$39,788$36,348$33,181$30,270$27,599$17,543
10 years$35,446$32,039$28,928$26,093$23,516$14,083
11 years$31,895$28,522$25,468$22,709$20,225$11,393
12 years$28,938$25,600$22,602$19,919$17,526$9,273
13 years$26,438$23,135$20,193$17,585$15,283$7,584
14 years$24,297$21,029$18,144$15,610$13,397$6,226
15 years$22,443$19,211$16,381$13,922$11,796$5,127
16 years$20,823$17,625$14,852$12,465$10,425$4,233
17 years$19,394$16,232$13,515$11,200$9,244$3,502
18 years$18,126$14,999$12,337$10,093$8,219$2,902
19 years$16,993$13,901$11,294$9,120$7,326$2,408
20 years$15,974$12,918$10,365$8,260$6,544$2,001
21 years$15,053$12,032$9,534$7,497$5,856$1,664
22 years$14,217$11,232$8,787$6,816$5,249$1,385
23 years$13,455$10,505$8,113$6,208$4,712$1,153
24 years$12,758$9,842$7,503$5,662$4,235$961
25 years$12,117$9,237$6,950$5,171$3,811$801
26 years$11,527$8,681$6,445$4,728$3,433$668
27 years$10,981$8,170$5,985$4,327$3,095$557
28 years$10,475$7,698$5,564$3,965$2,793$465
29 years$10,005$7,262$5,178$3,636$2,522$388
30 years$9,567$6,859$4,823$3,337$2,278$324
31 years$9,158$6,484$4,496$3,065$2,060$270
32 years$8,776$6,135$4,195$2,816$1,863$226
33 years$8,417$5,810$3,917$2,590$1,686$188
34 years$8,080$5,506$3,660$2,383$1,527$157
35 years$7,763$5,223$3,422$2,194$1,383$131
36 years$7,465$4,957$3,201$2,020$1,253$110
37 years$7,183$4,708$2,996$1,861$1,136$92
38 years$6,917$4,474$2,806$1,716$1,030$77
39 years$6,664$4,255$2,629$1,582$934$64
40 years$6,426$4,048$2,464$1,459$847$53
41 years$6,199$3,853$2,310$1,346$768$45
42 years$5,984$3,670$2,167$1,242$697$37
43 years$5,779$3,497$2,033$1,147$633$31
44 years$5,584$3,333$1,909$1,059$574$26
45 years$5,399$3,178$1,792$978$521$22
46 years$5,222$3,032$1,683$903$473$18
47 years$5,053$2,893$1,581$835$430$15
48 years$4,891$2,762$1,486$771$390$13
49 years$4,737$2,638$1,397$713$355$11
50 years$4,589$2,520$1,313$659$322$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $4,700,000, adding $3,291 every year, while hoping to spend $37,034 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: 73/12/15 Blend
60$4,700,000$4,700,000$4,700,000$4,700,000
61$5,182,795$4,933,695$4,860,845$5,543,667
62$5,672,036$5,136,042$4,984,279$5,985,502
63$6,209,938$5,347,063$5,110,607$6,464,477
64$6,801,427$5,567,143$5,239,887$6,988,160
65$7,451,926$5,796,687$5,372,177$7,560,977
66$8,167,414$6,036,117$5,507,537$8,187,798
67$8,954,477$6,285,873$5,646,026$8,873,987
68$9,820,371$6,546,418$5,787,705$9,625,449
69$10,773,091$6,818,234$5,932,635$10,448,686
70$11,821,446$7,101,828$6,080,878$11,350,857
71$12,975,142$7,397,726$6,232,497$12,339,848
72$14,244,875$7,706,483$6,387,553$13,424,341
73$15,642,428$8,028,676$6,546,112$14,613,899
74$17,180,785$8,364,911$6,708,237$15,919,054
75$18,874,254$8,715,821$6,873,991$17,351,404
76$20,738,599$9,082,067$7,043,442$18,923,726
77$22,791,192$9,464,344$7,216,652$20,650,091
78$25,051,172$9,863,375$7,393,689$22,545,999
79$27,539,631$10,279,921$7,574,617$24,628,522
80$30,279,811$10,714,774$7,759,504$26,916,468
81$33,297,320$11,168,766$7,948,415$29,430,553
82$36,620,377$11,642,766$8,141,418$32,193,598
83$40,280,078$12,137,684$8,338,578$35,230,742
84$44,310,687$12,654,472$8,539,962$38,569,683
85$48,749,963$13,194,127$8,745,636$42,240,929
86$53,639,513$13,757,692$8,955,668$46,278,094
87$59,025,183$14,346,259$9,170,123$50,718,208
88$64,957,497$14,960,971$9,389,067$55,602,069
89$71,492,126$15,603,024$9,612,566$60,974,624
90$78,690,421$16,273,669$9,840,685$66,885,393
91$86,619,983$16,974,219$10,073,487$73,388,937
92$95,355,310$17,706,044$10,311,037$80,545,367
93$104,978,492$18,470,581$10,553,398$88,420,913
94$115,579,993$19,269,334$10,800,632$97,088,548
95$127,259,499$20,103,878$11,052,799$106,628,673
96$140,126,860$20,975,860$11,309,960$117,129,877
97$154,303,129$21,887,006$11,572,173$128,689,767
98$169,921,702$22,839,124$11,839,495$141,415,892
99$187,129,579$23,834,104$12,111,981$155,426,755
100$206,088,749$24,873,928$12,389,685$170,852,926