Can I retire at age 61 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$175,068$173,508$171,987$170,502$169,052$166,457
2 years$86,667$85,053$83,489$81,972$80,501$77,893
3 years$57,204$55,583$54,023$52,520$51,073$48,533
4 years$42,476$40,859$39,315$37,838$36,426$33,973
5 years$33,641$32,034$30,510$29,063$27,690$25,332
6 years$27,753$26,158$24,656$23,242$21,910$19,650
7 years$23,549$21,968$20,490$19,109$17,819$15,657
8 years$20,397$18,830$17,377$16,030$14,783$12,718
9 years$17,947$16,395$14,967$13,654$12,449$10,481
10 years$15,988$14,452$13,048$11,770$10,607$8,735
11 years$14,387$12,865$11,488$10,243$9,123$7,343
12 years$13,053$11,547$10,195$8,985$7,905$6,217
13 years$11,925$10,435$9,108$7,932$6,894$5,294
14 years$10,960$9,486$8,184$7,041$6,043$4,530
15 years$10,123$8,665$7,389$6,280$5,321$3,891
16 years$9,392$7,950$6,699$5,623$4,702$3,353
17 years$8,748$7,322$6,096$5,052$4,170$2,898
18 years$8,176$6,766$5,565$4,553$3,707$2,510
19 years$7,665$6,270$5,094$4,114$3,304$2,179
20 years$7,205$5,827$4,675$3,726$2,952$1,894
21 years$6,790$5,427$4,300$3,381$2,641$1,650
22 years$6,413$5,066$3,964$3,075$2,368$1,438
23 years$6,069$4,738$3,660$2,800$2,125$1,255
24 years$5,755$4,440$3,385$2,554$1,910$1,097
25 years$5,466$4,166$3,135$2,332$1,719$959
26 years$5,199$3,916$2,907$2,132$1,548$839
27 years$4,953$3,685$2,700$1,952$1,396$735
28 years$4,725$3,472$2,510$1,788$1,260$644
29 years$4,513$3,276$2,336$1,640$1,137$564
30 years$4,315$3,094$2,175$1,505$1,028$495
31 years$4,131$2,925$2,028$1,382$929$434
32 years$3,958$2,767$1,892$1,270$840$381
33 years$3,797$2,621$1,767$1,168$761$334
34 years$3,645$2,484$1,651$1,075$689$294
35 years$3,502$2,356$1,543$989$624$258
36 years$3,367$2,236$1,444$911$565$226
37 years$3,240$2,124$1,351$840$512$199
38 years$3,120$2,018$1,266$774$464$175
39 years$3,006$1,919$1,186$714$421$154
40 years$2,898$1,826$1,111$658$382$135
41 years$2,796$1,738$1,042$607$347$119
42 years$2,699$1,655$977$560$314$104
43 years$2,607$1,577$917$517$285$92
44 years$2,519$1,503$861$478$259$81
45 years$2,435$1,434$808$441$235$71
46 years$2,355$1,368$759$407$214$62
47 years$2,279$1,305$713$376$194$55
48 years$2,206$1,246$670$348$176$48
49 years$2,137$1,190$630$321$160$42
50 years$2,070$1,137$592$297$145$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,120,000, adding $6,234 every year, while hoping to spend $23,376 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: 76/9/15 Blend
60$2,120,000$2,120,000$2,120,000$2,120,000
61$2,342,670$2,230,310$2,197,450$2,512,697
62$2,556,751$2,314,724$2,246,193$2,710,242
63$2,791,884$2,402,490$2,295,785$2,923,213
64$3,050,193$2,493,748$2,346,231$3,156,058
65$3,334,015$2,588,645$2,397,532$3,410,750
66$3,645,928$2,687,332$2,449,693$3,689,461
67$3,988,769$2,789,967$2,502,713$3,994,583
68$4,365,664$2,896,717$2,556,595$4,328,752
69$4,780,060$3,007,753$2,611,339$4,694,867
70$5,235,750$3,123,257$2,666,943$5,096,127
71$5,736,916$3,243,417$2,723,405$5,536,048
72$6,288,166$3,368,428$2,780,724$6,018,509
73$6,894,575$3,498,497$2,838,894$6,547,779
74$7,561,736$3,633,838$2,897,911$7,128,562
75$8,295,810$3,774,673$2,957,768$7,766,038
76$9,103,587$3,921,237$3,018,458$8,465,915
77$9,992,548$4,073,773$3,079,972$9,234,480
78$10,970,936$4,232,535$3,142,298$10,078,659
79$12,047,832$4,397,790$3,205,426$11,006,081
80$13,233,245$4,569,815$3,269,342$12,025,153
81$14,538,200$4,748,901$3,334,029$13,145,133
82$15,974,848$4,935,349$3,399,471$14,376,226
83$17,556,578$5,129,476$3,465,648$15,729,669
84$19,298,141$5,331,613$3,532,540$17,217,848
85$21,215,794$5,542,104$3,600,122$18,854,405
86$23,327,449$5,761,311$3,668,370$20,654,372
87$25,652,843$5,989,609$3,737,255$22,634,312
88$28,213,726$6,227,393$3,806,746$24,812,473
89$31,034,064$6,475,074$3,876,810$27,208,960
90$34,140,267$6,733,081$3,947,412$29,845,928
91$37,561,436$7,001,863$4,018,511$32,747,786
92$41,329,637$7,281,890$4,090,067$35,941,428
93$45,480,209$7,573,651$4,162,033$39,456,489
94$50,052,091$7,877,660$4,234,361$43,325,623
95$55,088,190$8,194,451$4,306,998$47,584,810
96$60,635,791$8,524,585$4,379,888$52,273,694
97$66,746,999$8,868,647$4,452,971$57,435,961
98$73,479,230$9,227,248$4,526,183$63,119,746
99$80,895,756$9,601,027$4,599,455$69,378,090
100$89,066,299$9,990,654$4,672,713$76,269,439