Can I retire at age 61 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$163,507$162,050$160,629$159,242$157,888$151,683
2 years$80,944$79,436$77,975$76,559$75,185$69,010
3 years$53,427$51,913$50,455$49,052$47,700$41,749
4 years$39,671$38,161$36,718$35,339$34,020$28,338
5 years$31,419$29,919$28,495$27,144$25,862$20,464
6 years$25,920$24,431$23,028$21,707$20,463$15,353
7 years$21,994$20,517$19,137$17,847$16,642$11,817
8 years$19,050$17,587$16,229$14,971$13,806$9,261
9 years$16,762$15,313$13,978$12,752$11,627$7,356
10 years$14,932$13,497$12,187$10,992$9,907$5,901
11 years$13,437$12,016$10,729$9,567$8,520$4,771
12 years$12,191$10,785$9,522$8,391$7,383$3,881
13 years$11,138$9,746$8,507$7,408$6,438$3,171
14 years$10,236$8,859$7,644$6,576$5,644$2,602
15 years$9,455$8,093$6,901$5,865$4,969$2,141
16 years$8,772$7,425$6,257$5,251$4,392$1,767
17 years$8,170$6,838$5,693$4,718$3,894$1,460
18 years$7,636$6,319$5,197$4,252$3,463$1,209
19 years$7,159$5,856$4,758$3,842$3,086$1,003
20 years$6,729$5,442$4,367$3,480$2,757$832
21 years$6,342$5,069$4,016$3,158$2,467$692
22 years$5,989$4,732$3,702$2,871$2,211$575
23 years$5,668$4,425$3,418$2,615$1,985$479
24 years$5,375$4,146$3,161$2,385$1,784$398
25 years$5,105$3,891$2,928$2,178$1,605$332
26 years$4,856$3,657$2,715$1,992$1,446$277
27 years$4,626$3,442$2,521$1,823$1,304$230
28 years$4,413$3,243$2,344$1,670$1,176$192
29 years$4,215$3,059$2,181$1,532$1,062$160
30 years$4,030$2,889$2,032$1,406$960$134
31 years$3,858$2,731$1,894$1,291$868$111
32 years$3,697$2,584$1,767$1,186$785$93
33 years$3,546$2,448$1,650$1,091$710$78
34 years$3,404$2,320$1,542$1,004$643$65
35 years$3,270$2,200$1,441$924$583$54
36 years$3,145$2,088$1,348$851$528$45
37 years$3,026$1,983$1,262$784$478$38
38 years$2,914$1,885$1,182$723$434$31
39 years$2,808$1,792$1,107$666$393$26
40 years$2,707$1,705$1,038$615$357$22
41 years$2,612$1,623$973$567$324$18
42 years$2,521$1,546$913$523$294$15
43 years$2,435$1,473$857$483$267$13
44 years$2,353$1,404$804$446$242$11
45 years$2,274$1,339$755$412$220$9
46 years$2,200$1,277$709$381$199$7
47 years$2,129$1,219$666$352$181$6
48 years$2,060$1,164$626$325$164$5
49 years$1,995$1,111$588$300$149$4
50 years$1,933$1,061$553$278$136$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,980,000, adding $3,636 every year, while hoping to spend $57,547 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: 83/9/8 Blend
60$1,980,000$1,980,000$1,980,000$1,980,000
61$2,185,711$2,080,771$2,050,081$2,364,784
62$2,347,423$2,121,499$2,057,529$2,523,119
63$2,523,702$2,162,294$2,063,298$2,688,860
64$2,715,972$2,203,098$2,067,270$2,869,085
65$2,925,801$2,243,850$2,069,324$3,065,213
66$3,154,916$2,284,482$2,069,330$3,278,806
67$3,405,218$2,324,922$2,067,152$3,511,585
68$3,678,797$2,365,090$2,062,649$3,765,444
69$3,977,959$2,404,904$2,055,672$4,042,470
70$4,305,239$2,444,272$2,046,065$4,344,962
71$4,663,429$2,483,098$2,033,664$4,675,452
72$5,055,605$2,521,276$2,018,298$5,036,727
73$5,485,154$2,558,695$1,999,788$5,431,861
74$5,955,803$2,595,234$1,977,944$5,864,238
75$6,471,660$2,630,766$1,952,570$6,337,585
76$7,037,247$2,665,152$1,923,460$6,856,010
77$7,657,548$2,698,245$1,890,397$7,424,037
78$8,338,047$2,729,889$1,853,155$8,046,653
79$9,084,790$2,759,916$1,811,498$8,729,350
80$9,904,433$2,788,146$1,765,177$9,478,180
81$10,804,309$2,814,389$1,713,934$10,299,811
82$11,792,495$2,838,440$1,657,497$11,201,588
83$12,877,890$2,860,084$1,595,584$12,191,609
84$14,070,295$2,879,089$1,527,897$13,278,792
85$15,380,510$2,895,210$1,454,126$14,472,966
86$16,820,431$2,908,184$1,373,949$15,784,961
87$18,403,164$2,917,734$1,287,025$17,226,711
88$20,143,148$2,923,564$1,193,001$18,811,365
89$22,056,290$2,925,359$1,091,508$20,553,414
90$24,160,117$2,922,787$982,158$22,468,825
91$26,473,938$2,915,492$864,549$24,575,194
92$29,019,027$2,903,099$738,259$26,891,908
93$31,818,825$2,885,208$602,848$29,440,335
94$34,899,158$2,861,396$457,856$32,244,020
95$38,288,481$2,831,214$302,804$35,328,906
96$42,018,148$2,794,185$137,190$38,723,587
97$46,122,705$2,749,806$0$42,459,570
98$50,640,216$2,697,542$0$46,574,951
99$55,612,622$2,636,825$0$51,117,333
100$61,086,137$2,567,058$0$56,117,207