Can I retire at age 61 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$195,712$193,969$192,268$190,608$188,987$184,120
2 years$96,887$95,083$93,334$91,639$89,994$85,122
3 years$63,950$62,138$60,393$58,714$57,096$52,373
4 years$47,484$45,678$43,951$42,300$40,721$36,183
5 years$37,608$35,812$34,108$32,490$30,956$26,614
6 years$31,025$29,243$27,564$25,983$24,494$20,354
7 years$26,326$24,558$22,906$21,362$19,920$15,982
8 years$22,802$21,051$19,426$17,920$16,526$12,788
9 years$20,064$18,329$16,732$15,264$13,917$10,376
10 years$17,874$16,156$14,587$13,158$11,858$8,509
11 years$16,083$14,383$12,842$11,451$10,198$7,037
12 years$14,592$12,909$11,397$10,044$8,838$5,858
13 years$13,332$11,666$10,183$8,867$7,707$4,903
14 years$12,252$10,604$9,149$7,872$6,756$4,122
15 years$11,317$9,687$8,260$7,020$5,948$3,477
16 years$10,500$8,888$7,489$6,286$5,257$2,942
17 years$9,780$8,185$6,815$5,648$4,661$2,495
18 years$9,140$7,564$6,221$5,090$4,145$2,121
19 years$8,569$7,010$5,695$4,599$3,694$1,806
20 years$8,055$6,514$5,227$4,165$3,300$1,540
21 years$7,591$6,067$4,808$3,780$2,953$1,314
22 years$7,169$5,664$4,431$3,437$2,647$1,123
23 years$6,785$5,297$4,091$3,130$2,376$961
24 years$6,433$4,963$3,784$2,855$2,136$822
25 years$6,110$4,658$3,504$2,607$1,922$704
26 years$5,813$4,377$3,250$2,384$1,731$604
27 years$5,537$4,120$3,018$2,182$1,561$518
28 years$5,282$3,882$2,806$1,999$1,408$444
29 years$5,045$3,662$2,611$1,833$1,272$381
30 years$4,824$3,458$2,432$1,683$1,149$327
31 years$4,618$3,269$2,267$1,545$1,039$281
32 years$4,425$3,094$2,115$1,420$940$241
33 years$4,244$2,930$1,975$1,306$850$207
34 years$4,074$2,777$1,845$1,202$770$178
35 years$3,915$2,634$1,725$1,106$697$153
36 years$3,764$2,500$1,614$1,019$632$131
37 years$3,622$2,374$1,511$939$573$113
38 years$3,488$2,256$1,415$865$519$97
39 years$3,361$2,145$1,325$798$471$83
40 years$3,240$2,041$1,242$736$427$72
41 years$3,126$1,943$1,165$679$387$62
42 years$3,017$1,851$1,093$626$352$53
43 years$2,914$1,763$1,025$578$319$46
44 years$2,816$1,681$963$534$290$39
45 years$2,722$1,603$904$493$263$34
46 years$2,633$1,529$849$456$239$29
47 years$2,548$1,459$797$421$217$25
48 years$2,466$1,393$749$389$197$21
49 years$2,388$1,330$704$359$179$18
50 years$2,314$1,271$662$332$162$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,370,000, adding $2,178 every year, while hoping to spend $52,694 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: 32/44/24 Blend
60$2,370,000$2,370,000$2,370,000$2,370,000
61$2,613,987$2,488,377$2,451,642$2,678,297
62$2,824,547$2,554,241$2,477,706$2,793,043
63$3,054,819$2,621,567$2,502,877$2,911,675
64$3,306,757$2,690,370$2,527,069$3,038,389
65$3,582,513$2,760,665$2,550,193$3,173,930
66$3,884,458$2,832,466$2,572,153$3,319,116
67$4,215,202$2,905,787$2,592,850$3,474,849
68$4,577,620$2,980,637$2,612,178$3,642,123
69$4,974,877$3,057,029$2,630,026$3,822,030
70$5,410,460$3,134,969$2,646,277$4,015,776
71$5,888,209$3,214,464$2,660,809$4,224,687
72$6,412,354$3,295,520$2,673,494$4,450,225
73$6,987,554$3,378,140$2,684,195$4,694,001
74$7,618,939$3,462,324$2,692,771$4,957,791
75$8,312,164$3,548,071$2,699,071$5,243,549
76$9,073,454$3,635,376$2,702,940$5,553,431
77$9,909,670$3,724,232$2,704,212$5,889,812
78$10,828,367$3,814,631$2,702,714$6,255,309
79$11,837,871$3,906,558$2,698,265$6,652,807
80$12,947,352$3,999,997$2,690,675$7,085,486
81$14,166,913$4,094,929$2,679,744$7,556,850
82$15,507,686$4,191,329$2,665,264$8,070,761
83$16,981,934$4,289,168$2,647,014$8,631,476
84$18,603,169$4,388,414$2,624,766$9,243,688
85$20,386,274$4,489,029$2,598,278$9,912,570
86$22,347,653$4,590,969$2,567,299$10,643,823
87$24,505,374$4,694,188$2,531,564$11,443,731
88$26,879,348$4,798,629$2,490,798$12,319,222
89$29,491,512$4,904,232$2,444,710$13,277,932
90$32,366,037$5,010,930$2,392,998$14,328,279
91$35,529,554$5,118,647$2,335,345$15,479,541
92$39,011,409$5,227,301$2,271,419$16,741,947
93$42,843,935$5,336,801$2,200,874$18,126,771
94$47,062,759$5,447,047$2,123,346$19,646,440
95$51,707,139$5,557,931$2,038,457$21,314,654
96$56,820,331$5,669,334$1,945,809$23,146,515
97$62,450,000$5,781,126$1,844,988$25,158,667
98$68,648,665$5,893,166$1,735,561$27,369,461
99$75,474,200$6,005,302$1,617,073$29,799,121
100$82,990,376$6,117,370$1,489,053$32,469,944