Can I retire at age 61 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$162,681$161,232$159,818$158,438$157,091$155,709
2 years$80,535$79,035$77,582$76,172$74,805$73,413
3 years$53,157$51,650$50,200$48,804$47,459$46,100
4 years$39,470$37,968$36,533$35,161$33,848$32,532
5 years$31,260$29,768$28,351$27,007$25,731$24,462
6 years$25,789$24,308$22,912$21,598$20,360$19,139
7 years$21,883$20,413$19,040$17,757$16,558$15,386
8 years$18,954$17,498$16,147$14,896$13,737$12,613
9 years$16,677$15,235$13,908$12,688$11,568$10,494
10 years$14,857$13,429$12,125$10,937$9,857$8,830
11 years$13,369$11,955$10,675$9,518$8,477$7,498
12 years$12,129$10,730$9,474$8,349$7,346$6,413
13 years$11,082$9,697$8,464$7,371$6,406$5,518
14 years$10,184$8,814$7,605$6,543$5,615$4,772
15 years$9,407$8,052$6,866$5,835$4,944$4,143
16 years$8,728$7,388$6,225$5,225$4,370$3,610
17 years$8,129$6,804$5,665$4,694$3,875$3,155
18 years$7,598$6,287$5,171$4,231$3,445$2,765
19 years$7,122$5,827$4,734$3,823$3,071$2,428
20 years$6,695$5,414$4,345$3,462$2,743$2,136
21 years$6,310$5,043$3,996$3,142$2,454$1,883
22 years$5,959$4,708$3,683$2,857$2,200$1,661
23 years$5,640$4,403$3,401$2,602$1,975$1,468
24 years$5,347$4,125$3,145$2,373$1,775$1,299
25 years$5,079$3,871$2,913$2,167$1,597$1,150
26 years$4,831$3,639$2,702$1,982$1,439$1,019
27 years$4,603$3,424$2,509$1,814$1,297$904
28 years$4,391$3,227$2,332$1,662$1,170$802
29 years$4,194$3,044$2,170$1,524$1,057$712
30 years$4,010$2,875$2,022$1,399$955$633
31 years$3,839$2,718$1,885$1,285$863$562
32 years$3,678$2,571$1,758$1,180$781$500
33 years$3,528$2,435$1,642$1,086$707$445
34 years$3,387$2,308$1,534$999$640$396
35 years$3,254$2,189$1,434$919$580$352
36 years$3,129$2,078$1,342$847$525$314
37 years$3,011$1,973$1,256$780$476$279
38 years$2,899$1,875$1,176$719$432$249
39 years$2,793$1,783$1,102$663$391$222
40 years$2,693$1,697$1,033$612$355$197
41 years$2,598$1,615$968$564$322$176
42 years$2,508$1,538$908$521$292$157
43 years$2,422$1,466$852$481$265$140
44 years$2,341$1,397$800$444$241$125
45 years$2,263$1,332$751$410$219$111
46 years$2,189$1,271$706$379$198$99
47 years$2,118$1,213$663$350$180$88
48 years$2,050$1,158$623$323$164$79
49 years$1,985$1,106$586$299$149$70
50 years$1,923$1,056$550$276$135$63

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,970,000, adding $6,404 every year, while hoping to spend $40,163 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: 89/5/6 Blend
60$1,970,000$1,970,000$1,970,000$1,970,000
61$2,177,546$2,073,136$2,042,601$2,370,462
62$2,356,922$2,131,986$2,068,295$2,555,770
63$2,553,249$2,192,374$2,093,503$2,753,182
64$2,768,213$2,254,333$2,118,168$2,968,925
65$3,003,671$2,317,895$2,142,227$3,204,820
66$3,261,668$2,383,095$2,165,614$3,462,869
67$3,544,457$2,449,965$2,188,261$3,745,280
68$3,854,518$2,518,541$2,210,095$4,054,482
69$4,194,585$2,588,855$2,231,038$4,393,153
70$4,567,665$2,660,942$2,251,011$4,764,242
71$4,977,075$2,734,836$2,269,928$5,170,996
72$5,426,465$2,810,571$2,287,699$5,616,993
73$5,919,857$2,888,182$2,304,230$6,106,173
74$6,461,682$2,967,702$2,319,421$6,642,877
75$7,056,820$3,049,166$2,333,168$7,231,888
76$7,710,648$3,132,607$2,345,361$7,878,473
77$8,429,088$3,218,059$2,355,884$8,588,437
78$9,218,665$3,305,554$2,364,617$9,368,174
79$10,086,569$3,395,126$2,371,431$10,224,727
80$11,040,718$3,486,806$2,376,193$11,165,858
81$12,089,837$3,580,626$2,378,762$12,200,118
82$13,243,540$3,676,616$2,378,990$13,336,927
83$14,512,418$3,774,807$2,376,723$14,586,665
84$15,908,140$3,875,228$2,371,799$15,960,769
85$17,443,562$3,977,906$2,364,046$17,471,838
86$19,132,850$4,082,868$2,353,286$19,133,758
87$20,991,612$4,190,140$2,339,332$20,961,826
88$23,037,045$4,299,745$2,321,989$22,972,897
89$25,288,097$4,411,706$2,301,049$25,185,545
90$27,765,647$4,526,044$2,276,297$27,620,234
91$30,492,699$4,642,775$2,247,509$30,299,515
92$33,494,601$4,761,918$2,214,447$33,248,235
93$36,799,284$4,883,486$2,176,865$36,493,772
94$40,437,524$5,007,490$2,134,503$40,066,298
95$44,443,233$5,133,938$2,087,091$43,999,055
96$48,853,778$5,262,837$2,034,344$48,328,676
97$53,710,335$5,394,188$1,975,966$53,095,528
98$59,058,275$5,527,989$1,911,647$58,344,090
99$64,947,594$5,664,235$1,841,062$64,123,377
100$71,433,383$5,802,917$1,763,872$70,487,400