Can I retire at age 61 with 2,070,000?

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$170,939$169,416$167,930$166,481$165,065$158,641
2 years$84,623$83,047$81,520$80,039$78,602$72,208
3 years$55,855$54,272$52,749$51,282$49,868$43,705
4 years$41,474$39,896$38,387$36,945$35,567$29,681
5 years$32,847$31,279$29,790$28,378$27,037$21,444
6 years$27,098$25,541$24,075$22,694$21,394$16,097
7 years$22,993$21,450$20,006$18,658$17,399$12,397
8 years$19,916$18,386$16,967$15,652$14,434$9,722
9 years$17,524$16,009$14,614$13,332$12,155$7,726
10 years$15,611$14,111$12,741$11,492$10,357$6,202
11 years$14,047$12,562$11,217$10,002$8,907$5,018
12 years$12,745$11,275$9,954$8,773$7,719$4,084
13 years$11,644$10,189$8,894$7,745$6,731$3,340
14 years$10,701$9,262$7,991$6,875$5,900$2,742
15 years$9,885$8,461$7,215$6,131$5,195$2,258
16 years$9,171$7,763$6,541$5,490$4,592$1,864
17 years$8,542$7,149$5,952$4,933$4,071$1,542
18 years$7,983$6,606$5,434$4,445$3,620$1,278
19 years$7,484$6,122$4,974$4,017$3,226$1,061
20 years$7,035$5,689$4,565$3,638$2,882$881
21 years$6,630$5,299$4,199$3,302$2,579$733
22 years$6,262$4,947$3,870$3,002$2,312$610
23 years$5,926$4,627$3,573$2,734$2,075$508
24 years$5,619$4,335$3,305$2,494$1,865$423
25 years$5,337$4,068$3,061$2,277$1,678$353
26 years$5,077$3,823$2,839$2,082$1,512$294
27 years$4,836$3,598$2,636$1,906$1,363$245
28 years$4,614$3,391$2,451$1,746$1,230$205
29 years$4,407$3,199$2,280$1,601$1,111$171
30 years$4,214$3,021$2,124$1,470$1,003$143
31 years$4,034$2,856$1,980$1,350$907$119
32 years$3,865$2,702$1,848$1,240$821$99
33 years$3,707$2,559$1,725$1,141$743$83
34 years$3,559$2,425$1,612$1,050$672$69
35 years$3,419$2,300$1,507$966$609$58
36 years$3,288$2,183$1,410$890$552$48
37 years$3,164$2,074$1,320$820$500$40
38 years$3,046$1,971$1,236$756$453$34
39 years$2,935$1,874$1,158$697$411$28
40 years$2,830$1,783$1,085$643$373$24
41 years$2,730$1,697$1,017$593$338$20
42 years$2,635$1,616$954$547$307$16
43 years$2,545$1,540$896$505$279$14
44 years$2,459$1,468$841$466$253$11
45 years$2,378$1,400$789$431$230$10
46 years$2,300$1,335$741$398$208$8
47 years$2,225$1,274$697$368$189$7
48 years$2,154$1,217$655$340$172$6
49 years$2,086$1,162$615$314$156$5
50 years$2,021$1,110$578$290$142$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,070,000, adding $4,408 every year, while hoping to spend $56,544 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: 42/40/18 Blend
60$2,070,000$2,070,000$2,070,000$2,070,000
61$2,285,687$2,175,977$2,143,892$2,369,464
62$2,458,665$2,222,437$2,155,550$2,475,619
63$2,647,391$2,269,279$2,165,703$2,584,643
64$2,853,412$2,316,462$2,174,242$2,701,518
65$3,078,432$2,363,940$2,181,050$2,826,992
66$3,324,323$2,411,664$2,186,007$2,961,890
67$3,593,150$2,459,582$2,188,984$3,107,121
68$3,887,184$2,507,634$2,189,848$3,263,687
69$4,208,928$2,555,758$2,188,458$3,432,693
70$4,561,134$2,603,886$2,184,667$3,615,359
71$4,946,836$2,651,943$2,178,321$3,813,028
72$5,369,375$2,699,850$2,169,256$4,027,183
73$5,832,429$2,747,520$2,157,303$4,259,458
74$6,340,048$2,794,861$2,142,285$4,511,657
75$6,896,695$2,841,771$2,124,014$4,785,769
76$7,507,284$2,888,144$2,102,294$5,083,985
77$8,177,228$2,933,863$2,076,921$5,408,726
78$8,912,488$2,978,805$2,047,681$5,762,659
79$9,719,632$3,022,837$2,014,348$6,148,725
80$10,605,893$3,065,815$1,976,688$6,570,170
81$11,579,242$3,107,587$1,934,454$7,030,572
82$12,648,455$3,147,990$1,887,390$7,533,878
83$13,823,205$3,186,849$1,835,224$8,084,442
84$15,114,144$3,223,976$1,777,677$8,687,062
85$16,533,010$3,259,174$1,714,452$9,347,034
86$18,092,732$3,292,229$1,645,241$10,070,195
87$19,807,557$3,322,915$1,569,723$10,862,985
88$21,693,179$3,350,988$1,487,560$11,732,503
89$23,766,890$3,376,193$1,398,400$12,686,579
90$26,047,741$3,398,255$1,301,874$13,733,849
91$28,556,722$3,416,882$1,197,599$14,883,832
92$31,316,962$3,431,763$1,085,173$16,147,030
93$34,353,940$3,442,567$964,174$17,535,018
94$37,695,734$3,448,945$834,166$19,060,564
95$41,373,278$3,450,522$694,689$20,737,743
96$45,420,657$3,446,903$545,267$22,582,078
97$49,875,430$3,437,667$385,399$24,610,682
98$54,778,978$3,422,367$214,564$26,842,424
99$60,176,900$3,400,529$32,218$29,298,109
100$66,119,439$3,371,651$0$32,000,677