Can I retire at age 61 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$183,326$181,693$180,099$178,544$177,026$171,841
2 years$90,755$89,065$87,427$85,839$84,298$79,117
3 years$59,902$58,205$56,571$54,998$53,482$48,466
4 years$44,479$42,787$41,169$39,623$38,144$33,332
5 years$35,228$33,545$31,949$30,434$28,996$24,402
6 years$29,062$27,392$25,820$24,338$22,944$18,571
7 years$24,659$23,004$21,456$20,010$18,660$14,507
8 years$21,359$19,719$18,197$16,786$15,480$11,547
9 years$18,794$17,169$15,673$14,298$13,036$9,318
10 years$16,742$15,133$13,664$12,325$11,108$7,599
11 years$15,065$13,472$12,029$10,726$9,553$6,248
12 years$13,669$12,092$10,676$9,408$8,278$5,171
13 years$12,488$10,928$9,538$8,306$7,219$4,301
14 years$11,477$9,933$8,570$7,373$6,328$3,593
15 years$10,601$9,074$7,738$6,576$5,572$3,012
16 years$9,835$8,325$7,015$5,888$4,924$2,532
17 years$9,161$7,667$6,384$5,290$4,366$2,134
18 years$8,562$7,085$5,827$4,768$3,882$1,802
19 years$8,026$6,566$5,335$4,308$3,460$1,524
20 years$7,545$6,102$4,896$3,902$3,091$1,290
21 years$7,110$5,683$4,503$3,541$2,766$1,094
22 years$6,715$5,305$4,150$3,220$2,479$928
23 years$6,356$4,962$3,832$2,932$2,226$788
24 years$6,026$4,649$3,544$2,674$2,000$670
25 years$5,724$4,363$3,283$2,442$1,800$570
26 years$5,445$4,100$3,044$2,233$1,621$485
27 years$5,187$3,859$2,827$2,044$1,462$413
28 years$4,948$3,636$2,628$1,873$1,319$351
29 years$4,726$3,430$2,446$1,717$1,191$299
30 years$4,519$3,240$2,278$1,576$1,076$255
31 years$4,326$3,062$2,124$1,448$973$217
32 years$4,145$2,898$1,982$1,330$880$185
33 years$3,976$2,744$1,850$1,223$797$158
34 years$3,817$2,601$1,729$1,126$721$135
35 years$3,667$2,467$1,616$1,036$653$115
36 years$3,526$2,341$1,512$954$592$98
37 years$3,393$2,224$1,415$879$536$83
38 years$3,267$2,113$1,325$810$486$71
39 years$3,148$2,010$1,242$747$441$61
40 years$3,035$1,912$1,164$689$400$52
41 years$2,928$1,820$1,091$636$363$44
42 years$2,826$1,733$1,024$587$329$38
43 years$2,730$1,652$960$542$299$32
44 years$2,638$1,574$902$500$271$27
45 years$2,550$1,501$847$462$246$23
46 years$2,466$1,432$795$427$224$20
47 years$2,387$1,367$747$394$203$17
48 years$2,310$1,305$702$364$184$15
49 years$2,237$1,246$660$337$167$12
50 years$2,167$1,190$620$311$152$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,220,000, adding $4,304 every year, while hoping to spend $51,417 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: 25/48/27 Blend
60$2,220,000$2,220,000$2,220,000$2,220,000
61$2,450,880$2,333,220$2,298,810$2,491,254
62$2,646,162$2,392,840$2,321,112$2,584,732
63$2,859,640$2,453,659$2,342,439$2,680,220
64$3,093,115$2,515,680$2,362,703$2,781,529
65$3,348,571$2,578,906$2,381,812$2,889,181
66$3,628,192$2,643,340$2,399,669$3,003,753
67$3,934,384$2,708,980$2,416,174$3,125,879
68$4,269,795$2,775,823$2,431,220$3,256,257
69$4,637,342$2,843,867$2,444,694$3,395,658
70$5,040,238$2,913,103$2,456,478$3,544,930
71$5,482,021$2,983,524$2,466,448$3,705,010
72$5,966,587$3,055,116$2,474,475$3,876,928
73$6,498,229$3,127,867$2,480,420$4,061,823
74$7,081,675$3,201,759$2,484,140$4,260,947
75$7,722,132$3,276,772$2,485,485$4,475,684
76$8,425,337$3,352,881$2,484,296$4,707,557
77$9,197,608$3,430,059$2,480,407$4,958,247
78$10,045,907$3,508,274$2,473,643$5,229,609
79$10,977,901$3,587,492$2,463,822$5,523,685
80$12,002,040$3,667,672$2,450,753$5,842,730
81$13,127,629$3,748,769$2,434,234$6,189,229
82$14,364,922$3,830,733$2,414,056$6,565,923
83$15,725,214$3,913,509$2,389,997$6,975,836
84$17,220,950$3,997,036$2,361,826$7,422,300
85$18,865,843$4,081,246$2,329,303$7,908,992
86$20,674,998$4,166,066$2,292,173$8,439,966
87$22,665,058$4,251,414$2,250,172$9,019,692
88$24,854,363$4,337,202$2,203,022$9,653,102
89$27,263,118$4,423,335$2,150,433$10,345,633
90$29,913,584$4,509,706$2,092,101$11,103,280
91$32,830,291$4,596,203$2,027,708$11,932,656
92$36,040,266$4,682,703$1,956,921$12,841,051
93$39,573,290$4,769,071$1,879,394$13,836,508
94$43,462,174$4,855,164$1,794,762$14,927,891
95$47,743,075$4,940,827$1,702,646$16,124,977
96$52,455,833$5,025,892$1,602,649$17,438,548
97$57,644,345$5,110,178$1,494,355$18,880,492
98$63,356,983$5,193,491$1,377,331$20,463,915
99$69,647,047$5,275,624$1,251,124$22,203,271
100$76,573,269$5,356,353$1,115,259$24,114,496