Can I retire at age 61 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$168,461$166,961$165,497$164,068$162,672$160,974
2 years$83,397$81,843$80,338$78,879$77,463$75,752
3 years$55,046$53,486$51,984$50,538$49,146$47,476
4 years$40,873$39,318$37,831$36,410$35,051$33,435
5 years$32,371$30,825$29,359$27,966$26,645$25,088
6 years$26,705$25,171$23,726$22,365$21,084$19,587
7 years$22,660$21,139$19,716$18,387$17,147$15,712
8 years$19,627$18,120$16,721$15,425$14,225$12,851
9 years$17,270$15,777$14,402$13,138$11,979$10,666
10 years$15,385$13,906$12,556$11,326$10,207$8,954
11 years$13,844$12,380$11,054$9,857$8,778$7,584
12 years$12,560$11,112$9,810$8,646$7,607$6,470
13 years$11,475$10,042$8,765$7,633$6,634$5,553
14 years$10,546$9,128$7,875$6,775$5,815$4,789
15 years$9,741$8,338$7,110$6,043$5,120$4,147
16 years$9,038$7,650$6,446$5,410$4,525$3,604
17 years$8,418$7,045$5,866$4,861$4,012$3,141
18 years$7,867$6,510$5,355$4,381$3,567$2,744
19 years$7,376$6,034$4,902$3,959$3,180$2,403
20 years$6,933$5,607$4,499$3,585$2,840$2,108
21 years$6,534$5,223$4,138$3,254$2,542$1,852
22 years$6,171$4,875$3,814$2,958$2,278$1,630
23 years$5,840$4,560$3,522$2,694$2,045$1,436
24 years$5,538$4,272$3,257$2,457$1,838$1,266
25 years$5,259$4,009$3,016$2,244$1,654$1,118
26 years$5,003$3,768$2,798$2,052$1,490$987
27 years$4,766$3,546$2,598$1,878$1,343$873
28 years$4,547$3,341$2,415$1,721$1,212$772
29 years$4,343$3,152$2,247$1,578$1,094$684
30 years$4,153$2,977$2,093$1,448$989$605
31 years$3,975$2,814$1,952$1,330$894$536
32 years$3,809$2,663$1,821$1,222$809$475
33 years$3,653$2,522$1,700$1,124$732$421
34 years$3,507$2,390$1,589$1,034$663$374
35 years$3,370$2,267$1,485$952$600$331
36 years$3,240$2,152$1,389$877$544$294
37 years$3,118$2,044$1,300$808$493$261
38 years$3,002$1,942$1,218$745$447$232
39 years$2,893$1,847$1,141$687$405$206
40 years$2,789$1,757$1,069$633$368$183
41 years$2,691$1,673$1,003$584$333$162
42 years$2,597$1,593$941$539$303$144
43 years$2,508$1,518$883$498$275$128
44 years$2,424$1,447$828$460$249$114
45 years$2,343$1,380$778$424$226$101
46 years$2,266$1,316$731$392$205$90
47 years$2,193$1,256$686$362$187$80
48 years$2,123$1,199$645$335$169$71
49 years$2,056$1,145$606$309$154$63
50 years$1,992$1,094$570$286$140$56

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,040,000, adding $4,527 every year, while hoping to spend $32,924 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: 59/22/19 Blend
60$2,040,000$2,040,000$2,040,000$2,040,000
61$2,252,750$2,144,630$2,113,010$2,374,190
62$2,447,499$2,214,686$2,148,765$2,527,071
63$2,661,010$2,287,071$2,184,614$2,689,721
64$2,895,160$2,361,865$2,220,526$2,866,362
65$3,152,020$2,439,149$2,256,467$3,058,351
66$3,433,868$2,519,010$2,292,401$3,267,183
67$3,743,216$2,601,534$2,328,289$3,494,504
68$4,082,828$2,686,814$2,364,091$3,742,124
69$4,455,752$2,774,943$2,399,764$4,012,037
70$4,865,343$2,866,020$2,435,260$4,306,440
71$5,315,298$2,960,145$2,470,531$4,627,749
72$5,809,690$3,057,423$2,505,525$4,978,627
73$6,353,005$3,157,964$2,540,187$5,362,005
74$6,950,186$3,261,878$2,574,458$5,781,111
75$7,606,678$3,369,284$2,608,276$6,239,501
76$8,328,481$3,480,301$2,641,575$6,741,090
77$9,122,205$3,595,054$2,674,286$7,290,191
78$9,995,131$3,713,673$2,706,336$7,891,555
79$10,955,283$3,836,292$2,737,648$8,550,413
80$12,011,502$3,963,050$2,768,138$9,272,530
81$13,173,526$4,094,090$2,797,722$10,064,255
82$14,452,088$4,229,563$2,826,307$10,932,581
83$15,859,010$4,369,621$2,853,799$11,885,214
84$17,407,323$4,514,426$2,880,094$12,930,641
85$19,111,380$4,664,143$2,905,088$14,078,214
86$20,986,999$4,818,945$2,928,667$15,338,233
87$23,051,609$4,979,009$2,950,712$16,722,049
88$25,324,412$5,144,519$2,971,101$18,242,166
89$27,826,570$5,315,669$2,989,701$19,912,360
90$30,581,399$5,492,655$3,006,374$21,747,811
91$33,614,591$5,675,684$3,020,977$23,765,242
92$36,954,456$5,864,969$3,033,356$25,983,079
93$40,632,189$6,060,731$3,043,352$28,421,624
94$44,682,164$6,263,200$3,050,797$31,103,248
95$49,142,261$6,472,612$3,055,514$34,052,598
96$54,054,216$6,689,215$3,057,318$37,296,833
97$59,464,023$6,913,263$3,056,016$40,865,876
98$65,422,363$7,145,023$3,051,402$44,792,702
99$71,985,084$7,384,769$3,043,264$49,113,643
100$79,213,726$7,632,786$3,031,376$53,868,734