Can I retire at age 61 with 1,960,000?

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$161,855$160,413$159,007$157,634$156,293$150,988
2 years$80,126$78,634$77,188$75,785$74,425$69,134
3 years$52,887$51,388$49,946$48,556$47,218$42,107
4 years$39,270$37,776$36,348$34,982$33,677$28,783
5 years$31,102$29,617$28,207$26,870$25,600$20,939
6 years$25,658$24,184$22,796$21,488$20,257$15,831
7 years$21,771$20,310$18,943$17,666$16,474$12,283
8 years$18,858$17,409$16,065$14,820$13,667$9,707
9 years$16,593$15,158$13,837$12,623$11,510$7,776
10 years$14,782$13,361$12,064$10,881$9,807$6,294
11 years$13,301$11,894$10,621$9,470$8,434$5,135
12 years$12,068$10,676$9,425$8,307$7,309$4,216
13 years$11,025$9,648$8,421$7,333$6,373$3,479
14 years$10,132$8,770$7,566$6,510$5,587$2,882
15 years$9,359$8,011$6,831$5,806$4,919$2,396
16 years$8,684$7,350$6,194$5,198$4,348$1,997
17 years$8,088$6,769$5,636$4,671$3,855$1,668
18 years$7,559$6,255$5,145$4,209$3,428$1,395
19 years$7,086$5,797$4,710$3,803$3,055$1,169
20 years$6,661$5,387$4,323$3,445$2,729$981
21 years$6,278$5,018$3,976$3,126$2,442$824
22 years$5,929$4,684$3,664$2,842$2,189$693
23 years$5,611$4,381$3,383$2,589$1,965$583
24 years$5,320$4,104$3,129$2,361$1,766$491
25 years$5,053$3,852$2,898$2,156$1,589$413
26 years$4,807$3,620$2,688$1,972$1,431$348
27 years$4,579$3,407$2,496$1,805$1,291$294
28 years$4,368$3,210$2,320$1,653$1,165$248
29 years$4,172$3,029$2,159$1,516$1,052$209
30 years$3,990$2,860$2,011$1,392$950$176
31 years$3,819$2,704$1,875$1,278$859$149
32 years$3,660$2,558$1,749$1,174$777$125
33 years$3,510$2,423$1,633$1,080$703$106
34 years$3,370$2,296$1,526$994$637$89
35 years$3,237$2,178$1,427$915$577$75
36 years$3,113$2,067$1,335$843$522$64
37 years$2,995$1,963$1,249$776$474$54
38 years$2,884$1,866$1,170$715$429$45
39 years$2,779$1,774$1,096$660$389$38
40 years$2,680$1,688$1,027$608$353$32
41 years$2,585$1,607$963$561$320$27
42 years$2,495$1,530$904$518$291$23
43 years$2,410$1,458$848$478$264$19
44 years$2,329$1,390$796$442$239$16
45 years$2,251$1,325$747$408$217$14
46 years$2,178$1,264$702$377$197$12
47 years$2,107$1,207$660$348$179$10
48 years$2,040$1,152$620$322$163$8
49 years$1,975$1,100$583$297$148$7
50 years$1,914$1,051$548$275$134$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,960,000, adding $5,501 every year, while hoping to spend $27,032 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: 60/18/22 Blend
60$1,960,000$1,960,000$1,960,000$1,960,000
61$2,165,594$2,061,714$2,031,334$2,282,609
62$2,357,723$2,133,976$2,070,622$2,434,887
63$2,568,543$2,208,873$2,110,320$2,597,520
64$2,799,932$2,286,506$2,150,413$2,774,361
65$3,053,959$2,366,978$2,190,886$2,966,795
66$3,332,902$2,450,400$2,231,720$3,176,345
67$3,639,271$2,536,883$2,272,896$3,404,688
68$3,975,833$2,626,546$2,314,394$3,653,670
69$4,345,632$2,719,511$2,356,191$3,925,323
70$4,752,025$2,815,906$2,398,262$4,221,884
71$5,198,709$2,915,863$2,440,581$4,545,817
72$5,689,758$3,019,520$2,483,120$4,899,836
73$6,229,657$3,127,021$2,525,849$5,286,927
74$6,823,353$3,238,515$2,568,735$5,710,380
75$7,476,290$3,354,158$2,611,744$6,173,818
76$8,194,471$3,474,111$2,654,837$6,681,233
77$8,984,509$3,598,543$2,697,975$7,237,017
78$9,853,687$3,727,631$2,741,115$7,846,012
79$10,810,033$3,861,555$2,784,213$8,513,551
80$11,862,392$4,000,506$2,827,220$9,245,504
81$13,020,508$4,144,683$2,870,083$10,048,342
82$14,295,119$4,294,291$2,912,750$10,929,191
83$15,698,055$4,449,546$2,955,161$11,895,901
84$17,242,353$4,610,670$2,997,256$12,957,120
85$18,942,377$4,777,897$3,038,968$14,122,375
86$20,813,954$4,951,469$3,080,228$15,402,160
87$22,874,525$5,131,638$3,120,963$16,808,039
88$25,143,308$5,318,669$3,161,096$18,352,750
89$27,641,476$5,512,835$3,200,544$20,050,328
90$30,392,365$5,714,423$3,239,221$21,916,235
91$33,421,686$5,923,728$3,277,034$23,967,508
92$36,757,770$6,141,063$3,313,887$26,222,915
93$40,431,837$6,366,750$3,349,677$28,703,138
94$44,478,290$6,601,126$3,384,296$31,430,962
95$48,935,037$6,844,543$3,417,631$34,431,494
96$53,843,850$7,097,365$3,449,562$37,732,394
97$59,250,762$7,359,975$3,479,961$41,364,144
98$65,206,496$7,632,771$3,508,697$45,360,326
99$71,766,948$7,916,166$3,535,628$49,757,945
100$78,993,713$8,210,593$3,560,606$54,597,775