Can I retire at age 61 with 2,380,000?

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 $2,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$196,538$194,788$193,080$191,412$189,785$188,116
2 years$97,296$95,484$93,728$92,025$90,374$88,692
3 years$64,220$62,400$60,648$58,961$57,337$55,694
4 years$47,685$45,871$44,136$42,478$40,893$39,303
5 years$37,766$35,963$34,252$32,627$31,086$29,552
6 years$31,156$29,367$27,680$26,092$24,597$23,122
7 years$26,437$24,662$23,003$21,452$20,004$18,588
8 years$22,899$21,140$19,508$17,996$16,596$15,239
9 years$20,148$18,406$16,802$15,328$13,976$12,678
10 years$17,949$16,224$14,649$13,213$11,908$10,668
11 years$16,151$14,443$12,896$11,499$10,241$9,058
12 years$14,654$12,964$11,445$10,086$8,875$7,748
13 years$13,388$11,715$10,226$8,905$7,739$6,666
14 years$12,304$10,649$9,188$7,905$6,784$5,765
15 years$11,365$9,728$8,295$7,050$5,973$5,006
16 years$10,544$8,925$7,521$6,312$5,279$4,362
17 years$9,821$8,220$6,844$5,671$4,681$3,812
18 years$9,179$7,595$6,247$5,111$4,162$3,340
19 years$8,605$7,039$5,719$4,618$3,710$2,933
20 years$8,089$6,541$5,249$4,183$3,314$2,581
21 years$7,623$6,093$4,828$3,796$2,965$2,274
22 years$7,199$5,688$4,450$3,452$2,658$2,007
23 years$6,814$5,319$4,108$3,143$2,386$1,774
24 years$6,460$4,984$3,800$2,867$2,145$1,569
25 years$6,136$4,677$3,519$2,618$1,930$1,389
26 years$5,837$4,396$3,264$2,394$1,738$1,231
27 years$5,561$4,137$3,031$2,191$1,567$1,092
28 years$5,305$3,898$2,818$2,008$1,414$969
29 years$5,066$3,678$2,622$1,841$1,277$861
30 years$4,845$3,473$2,442$1,690$1,154$765
31 years$4,638$3,283$2,277$1,552$1,043$680
32 years$4,444$3,107$2,124$1,426$944$604
33 years$4,262$2,942$1,983$1,311$854$537
34 years$4,092$2,788$1,853$1,207$773$478
35 years$3,931$2,645$1,733$1,111$700$426
36 years$3,780$2,510$1,621$1,023$634$379
37 years$3,637$2,384$1,517$943$575$337
38 years$3,502$2,266$1,421$869$521$301
39 years$3,375$2,155$1,331$801$473$268
40 years$3,254$2,050$1,248$739$429$239
41 years$3,139$1,951$1,170$682$389$213
42 years$3,030$1,858$1,097$629$353$189
43 years$2,926$1,771$1,030$581$320$169
44 years$2,828$1,688$967$536$291$150
45 years$2,734$1,609$908$495$264$134
46 years$2,644$1,535$852$457$240$120
47 years$2,559$1,465$801$423$218$107
48 years$2,477$1,399$753$391$198$95
49 years$2,399$1,336$707$361$180$85
50 years$2,324$1,276$665$334$163$76

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,380,000, adding $2,393 every year, while hoping to spend $20,612 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: 77/12/11 Blend
60$2,380,000$2,380,000$2,380,000$2,380,000
61$2,625,228$2,499,088$2,462,198$2,821,894
62$2,871,071$2,599,613$2,522,751$3,052,189
63$3,141,298$2,704,372$2,584,641$3,301,771
64$3,438,376$2,813,552$2,647,892$3,574,851
65$3,765,021$2,927,346$2,712,527$3,873,760
66$4,124,225$3,045,959$2,778,569$4,201,065
67$4,519,287$3,169,601$2,846,042$4,559,593
68$4,953,837$3,298,495$2,914,968$4,952,459
69$5,431,880$3,432,873$2,985,371$5,383,090
70$5,957,825$3,572,976$3,057,274$5,855,262
71$6,536,531$3,719,060$3,130,700$6,373,132
72$7,173,352$3,871,389$3,205,673$6,941,278
73$7,874,186$4,030,239$3,282,216$7,564,745
74$8,645,534$4,195,902$3,360,351$8,249,087
75$9,494,557$4,368,679$3,440,101$9,000,420
76$10,429,147$4,548,889$3,521,489$9,825,485
77$11,457,998$4,736,863$3,604,537$10,731,704
78$12,590,692$4,932,947$3,689,267$11,727,253
79$13,837,786$5,137,505$3,775,701$12,821,138
80$15,210,913$5,350,916$3,863,860$14,023,281
81$16,722,891$5,573,576$3,953,765$15,344,611
82$18,387,847$5,805,902$4,045,436$16,797,169
83$20,221,343$6,048,327$4,138,894$18,394,218
84$22,240,531$6,301,306$4,234,158$20,150,371
85$24,464,309$6,565,314$4,331,246$22,081,727
86$26,913,503$6,840,848$4,430,177$24,206,022
87$29,611,060$7,128,430$4,530,968$26,542,794
88$32,582,268$7,428,603$4,633,636$29,113,573
89$35,854,992$7,741,937$4,738,195$31,942,076
90$39,459,938$8,069,029$4,844,661$35,054,435
91$43,430,942$8,410,502$4,953,048$38,479,442
92$47,805,290$8,767,009$5,063,367$42,248,820
93$52,624,070$9,139,233$5,175,630$46,397,520
94$57,932,559$9,527,889$5,289,848$50,964,054
95$63,780,650$9,933,725$5,406,028$55,990,852
96$70,223,324$10,357,525$5,524,177$61,524,667
97$77,321,168$10,800,109$5,644,302$67,617,015
98$85,140,946$11,262,333$5,766,405$74,324,656
99$93,756,232$11,745,097$5,890,489$81,710,133
100$103,248,100$12,249,339$6,016,553$89,842,360