Can I retire at age 61 with 2,360,000?

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 $2,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$194,887$193,151$191,457$189,804$188,190$181,875
2 years$96,479$94,682$92,940$91,252$89,614$83,314
3 years$63,680$61,876$60,139$58,466$56,855$50,768
4 years$47,284$45,485$43,765$42,121$40,549$34,722
5 years$37,449$35,661$33,964$32,353$30,825$25,272
6 years$30,895$29,120$27,448$25,873$24,391$19,117
7 years$26,215$24,455$22,809$21,272$19,836$14,841
8 years$22,706$20,962$19,344$17,844$16,456$11,736
9 years$19,979$18,251$16,661$15,199$13,858$9,407
10 years$17,798$16,088$14,525$13,102$11,808$7,619
11 years$16,015$14,322$12,788$11,403$10,155$6,220
12 years$14,531$12,855$11,349$10,002$8,800$5,110
13 years$13,275$11,617$10,140$8,830$7,674$4,219
14 years$12,200$10,559$9,110$7,838$6,727$3,498
15 years$11,269$9,646$8,226$6,990$5,923$2,910
16 years$10,456$8,850$7,458$6,259$5,235$2,427
17 years$9,738$8,151$6,786$5,624$4,642$2,029
18 years$9,102$7,532$6,195$5,068$4,127$1,699
19 years$8,532$6,980$5,671$4,580$3,679$1,425
20 years$8,021$6,486$5,205$4,148$3,286$1,196
21 years$7,559$6,042$4,787$3,764$2,940$1,006
22 years$7,139$5,640$4,412$3,423$2,636$846
23 years$6,756$5,275$4,074$3,117$2,366$712
24 years$6,406$4,942$3,768$2,843$2,127$600
25 years$6,084$4,638$3,490$2,596$1,914$506
26 years$5,788$4,359$3,236$2,374$1,724$427
27 years$5,514$4,102$3,005$2,173$1,554$360
28 years$5,260$3,866$2,794$1,991$1,402$304
29 years$5,024$3,647$2,600$1,826$1,266$256
30 years$4,804$3,444$2,422$1,675$1,144$217
31 years$4,599$3,256$2,258$1,539$1,034$183
32 years$4,407$3,080$2,106$1,414$936$154
33 years$4,226$2,917$1,967$1,300$847$130
34 years$4,057$2,765$1,838$1,197$767$110
35 years$3,898$2,622$1,718$1,101$694$93
36 years$3,748$2,489$1,607$1,014$629$79
37 years$3,607$2,364$1,504$935$570$66
38 years$3,473$2,247$1,409$862$517$56
39 years$3,346$2,136$1,320$794$469$47
40 years$3,226$2,033$1,237$733$425$40
41 years$3,113$1,935$1,160$676$386$34
42 years$3,005$1,843$1,088$624$350$29
43 years$2,902$1,756$1,021$576$318$24
44 years$2,804$1,674$958$532$288$20
45 years$2,711$1,596$900$491$262$17
46 years$2,622$1,522$845$454$238$15
47 years$2,537$1,453$794$419$216$12
48 years$2,456$1,387$746$387$196$10
49 years$2,378$1,324$701$358$178$9
50 years$2,304$1,265$659$331$162$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,360,000, adding $4,615 every year, while hoping to spend $27,088 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: 60/28/12 Blend
60$2,360,000$2,360,000$2,360,000$2,360,000
61$2,605,480$2,480,400$2,443,820$2,753,994
62$2,842,418$2,573,119$2,496,867$2,947,120
63$3,102,615$2,669,472$2,550,783$3,154,221
64$3,388,416$2,769,610$2,605,568$3,379,474
65$3,702,403$2,873,690$2,661,223$3,624,631
66$4,047,420$2,981,872$2,717,746$3,891,620
67$4,426,601$3,094,328$2,775,134$4,182,563
68$4,843,398$3,211,234$2,833,385$4,499,795
69$5,301,615$3,332,775$2,892,494$4,845,884
70$5,805,442$3,459,143$2,952,455$5,223,657
71$6,359,496$3,590,540$3,013,261$5,636,225
72$6,968,863$3,727,175$3,074,904$6,087,010
73$7,639,148$3,869,267$3,137,374$6,579,783
74$8,376,525$4,017,045$3,200,659$7,118,691
75$9,187,797$4,170,747$3,264,748$7,708,302
76$10,080,460$4,330,621$3,329,625$8,353,642
77$11,062,773$4,496,928$3,395,273$9,060,248
78$12,143,836$4,669,938$3,461,676$9,834,212
79$13,333,677$4,849,934$3,528,811$10,682,247
80$14,643,343$5,037,212$3,596,657$11,611,742
81$16,085,008$5,232,080$3,665,190$12,630,832
82$17,672,087$5,434,860$3,734,382$13,748,480
83$19,419,360$5,645,888$3,804,203$14,974,552
84$21,343,113$5,865,515$3,874,623$16,319,917
85$23,461,293$6,094,107$3,945,605$17,796,545
86$25,793,675$6,332,048$4,017,112$19,417,618
87$28,362,048$6,579,737$4,089,104$21,197,657
88$31,190,424$6,837,591$4,161,536$23,152,655
89$34,305,261$7,106,047$4,234,361$25,300,228
90$37,735,714$7,385,560$4,307,529$27,659,782
91$41,513,909$7,676,605$4,380,984$30,252,691
92$45,675,249$7,979,679$4,454,668$33,102,503
93$50,258,744$8,295,303$4,528,518$36,235,155
94$55,307,380$8,624,017$4,602,468$39,679,222
95$60,868,528$8,966,389$4,676,446$43,466,183
96$66,994,387$9,323,011$4,750,376$47,630,716
97$73,742,477$9,694,501$4,824,176$52,211,025
98$81,176,184$10,081,507$4,897,761$57,249,202
99$89,365,357$10,484,702$4,971,037$62,791,616
100$98,386,965$10,904,794$5,043,909$68,889,356