Can I retire at age 61 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$170,113$168,598$167,119$165,676$164,267$159,264
2 years$84,214$82,646$81,126$79,652$78,223$73,225
3 years$55,585$54,010$52,494$51,034$49,628$44,792
4 years$41,273$39,703$38,202$36,767$35,395$30,759
5 years$32,689$31,128$29,646$28,241$26,907$22,482
6 years$26,967$25,418$23,959$22,584$21,290$17,082
7 years$22,882$21,346$19,910$18,568$17,315$13,322
8 years$19,820$18,298$16,885$15,576$14,364$10,584
9 years$17,439$15,931$14,543$13,267$12,097$8,526
10 years$15,536$14,043$12,679$11,437$10,307$6,940
11 years$13,980$12,501$11,162$9,953$8,864$5,695
12 years$12,684$11,221$9,906$8,730$7,682$4,704
13 years$11,588$10,140$8,851$7,708$6,699$3,905
14 years$10,649$9,217$7,952$6,842$5,872$3,255
15 years$9,837$8,420$7,180$6,102$5,170$2,723
16 years$9,127$7,725$6,510$5,463$4,569$2,284
17 years$8,501$7,115$5,924$4,909$4,052$1,921
18 years$7,945$6,574$5,407$4,424$3,602$1,618
19 years$7,448$6,093$4,950$3,997$3,211$1,365
20 years$7,001$5,662$4,543$3,620$2,868$1,153
21 years$6,598$5,274$4,179$3,286$2,567$976
22 years$6,231$4,923$3,851$2,987$2,301$826
23 years$5,897$4,604$3,556$2,721$2,065$700
24 years$5,592$4,314$3,289$2,481$1,856$593
25 years$5,311$4,048$3,046$2,266$1,670$503
26 years$5,052$3,805$2,825$2,072$1,505$427
27 years$4,813$3,581$2,623$1,897$1,356$363
28 years$4,591$3,374$2,439$1,738$1,224$308
29 years$4,385$3,183$2,269$1,594$1,105$262
30 years$4,193$3,006$2,114$1,462$999$223
31 years$4,014$2,842$1,971$1,343$903$189
32 years$3,846$2,689$1,839$1,234$817$161
33 years$3,689$2,546$1,717$1,135$739$137
34 years$3,542$2,413$1,604$1,044$669$116
35 years$3,403$2,289$1,500$961$606$99
36 years$3,272$2,173$1,403$885$549$84
37 years$3,148$2,064$1,313$816$498$72
38 years$3,032$1,961$1,230$752$451$61
39 years$2,921$1,865$1,152$693$409$52
40 years$2,816$1,774$1,080$640$371$44
41 years$2,717$1,689$1,013$590$337$38
42 years$2,623$1,608$950$545$306$32
43 years$2,533$1,533$891$503$277$27
44 years$2,448$1,461$837$464$252$23
45 years$2,366$1,393$786$429$228$20
46 years$2,289$1,329$738$396$207$17
47 years$2,215$1,268$693$366$188$14
48 years$2,144$1,211$651$338$171$12
49 years$2,076$1,156$612$312$155$10
50 years$2,011$1,104$576$289$141$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,060,000, adding $4,452 every year, while hoping to spend $48,266 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: 60/31/9 Blend
60$2,060,000$2,060,000$2,060,000$2,060,000
61$2,274,712$2,165,532$2,133,602$2,406,342
62$2,455,378$2,220,289$2,153,723$2,549,918
63$2,652,854$2,276,110$2,172,901$2,700,554
64$2,868,805$2,332,999$2,191,052$2,863,661
65$3,105,061$2,390,954$2,208,090$3,040,441
66$3,363,639$2,449,973$2,223,923$3,232,220
67$3,646,762$2,510,053$2,238,456$3,440,455
68$3,956,873$2,571,187$2,251,586$3,666,752
69$4,296,668$2,633,369$2,263,208$3,912,881
70$4,669,112$2,696,588$2,273,209$4,180,789
71$5,077,472$2,760,831$2,281,472$4,472,621
72$5,525,346$2,826,084$2,287,873$4,790,740
73$6,016,697$2,892,328$2,292,283$5,137,749
74$6,555,891$2,959,543$2,294,565$5,516,514
75$7,147,735$3,027,704$2,294,577$5,930,195
76$7,797,527$3,096,784$2,292,168$6,382,269
77$8,511,100$3,166,752$2,287,181$6,876,571
78$9,294,882$3,237,572$2,279,451$7,417,323
79$10,155,953$3,309,206$2,268,805$8,009,178
80$11,102,111$3,381,609$2,255,062$8,657,263
81$12,141,952$3,454,732$2,238,031$9,367,224
82$13,284,939$3,528,523$2,217,514$10,145,287
83$14,541,504$3,602,921$2,193,301$10,998,307
84$15,923,135$3,677,862$2,165,175$11,933,842
85$17,442,492$3,753,275$2,132,905$12,960,217
86$19,113,522$3,829,081$2,096,254$14,086,607
87$20,951,592$3,905,197$2,054,969$15,323,121
88$22,973,633$3,981,530$2,008,789$16,680,901
89$25,198,299$4,057,980$1,957,439$18,172,222
90$27,646,143$4,134,439$1,900,631$19,810,613
91$30,339,812$4,210,789$1,838,064$21,610,982
92$33,304,259$4,286,904$1,769,426$23,589,757
93$36,566,978$4,362,647$1,694,386$25,765,044
94$40,158,264$4,437,870$1,612,602$28,156,792
95$44,111,496$4,512,415$1,523,713$30,786,990
96$48,463,456$4,586,111$1,427,345$33,679,865
97$53,254,673$4,658,775$1,323,106$36,862,120
98$58,529,804$4,730,210$1,210,584$40,363,180
99$64,338,058$4,800,204$1,089,353$44,215,475
100$70,733,658$4,868,531$958,963$48,454,741