Can I retire at age 61 with 2,390,000?

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$197,364$195,606$193,891$192,217$190,582$183,601
2 years$97,705$95,885$94,122$92,412$90,753$83,798
3 years$64,490$62,662$60,903$59,209$57,578$50,866
4 years$47,885$46,063$44,322$42,657$41,065$34,649
5 years$37,925$36,114$34,396$32,765$31,217$25,113
6 years$31,287$29,490$27,797$26,202$24,701$18,914
7 years$26,548$24,766$23,099$21,542$20,088$14,616
8 years$22,995$21,229$19,590$18,071$16,665$11,503
9 years$20,233$18,483$16,873$15,393$14,035$9,176
10 years$18,025$16,292$14,710$13,269$11,958$7,394
11 years$16,219$14,504$12,951$11,548$10,284$6,005
12 years$14,715$13,018$11,493$10,129$8,912$4,907
13 years$13,444$11,764$10,268$8,942$7,772$4,030
14 years$12,355$10,694$9,226$7,938$6,813$3,322
15 years$11,413$9,769$8,330$7,079$5,998$2,748
16 years$10,589$8,963$7,552$6,339$5,301$2,279
17 years$9,862$8,254$6,872$5,695$4,701$1,893
18 years$9,217$7,627$6,274$5,133$4,180$1,576
19 years$8,641$7,069$5,743$4,638$3,725$1,314
20 years$8,123$6,569$5,271$4,200$3,327$1,097
21 years$7,655$6,119$4,848$3,812$2,978$916
22 years$7,230$5,711$4,468$3,466$2,669$766
23 years$6,842$5,342$4,126$3,157$2,396$641
24 years$6,488$5,005$3,816$2,879$2,154$537
25 years$6,162$4,697$3,534$2,629$1,938$449
26 years$5,862$4,414$3,278$2,404$1,746$377
27 years$5,584$4,154$3,044$2,201$1,574$316
28 years$5,327$3,915$2,829$2,016$1,420$265
29 years$5,088$3,693$2,633$1,849$1,282$222
30 years$4,865$3,488$2,453$1,697$1,159$186
31 years$4,657$3,297$2,286$1,558$1,047$156
32 years$4,463$3,120$2,133$1,432$948$131
33 years$4,280$2,954$1,992$1,317$858$110
34 years$4,109$2,800$1,861$1,212$776$92
35 years$3,948$2,656$1,740$1,115$703$77
36 years$3,796$2,521$1,628$1,027$637$65
37 years$3,653$2,394$1,523$947$577$55
38 years$3,517$2,275$1,427$872$524$46
39 years$3,389$2,164$1,337$804$475$38
40 years$3,268$2,058$1,253$742$431$32
41 years$3,152$1,959$1,175$685$391$27
42 years$3,043$1,866$1,102$632$354$23
43 years$2,939$1,778$1,034$583$322$19
44 years$2,840$1,695$971$538$292$16
45 years$2,745$1,616$911$497$265$13
46 years$2,655$1,542$856$459$241$11
47 years$2,569$1,471$804$424$219$9
48 years$2,487$1,405$756$392$198$8
49 years$2,409$1,341$710$362$180$7
50 years$2,333$1,281$668$335$164$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,390,000, adding $6,019 every year, while hoping to spend $36,958 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: 47/34/19 Blend
60$2,390,000$2,390,000$2,390,000$2,390,000
61$2,639,989$2,513,319$2,476,274$2,749,569
62$2,869,944$2,597,148$2,519,906$2,910,370
63$3,122,117$2,683,847$2,563,761$3,080,601
64$3,398,734$2,773,516$2,607,807$3,264,593
65$3,702,247$2,866,261$2,652,012$3,463,647
66$4,035,359$2,962,191$2,696,337$3,679,194
67$4,401,047$3,061,419$2,740,746$3,912,809
68$4,802,588$3,164,063$2,785,195$4,166,223
69$5,243,595$3,270,245$2,829,641$4,441,343
70$5,728,045$3,380,090$2,874,038$4,740,263
71$6,260,322$3,493,730$2,918,334$5,065,293
72$6,845,253$3,611,302$2,962,477$5,418,969
73$7,488,158$3,732,945$3,006,409$5,804,087
74$8,194,897$3,858,806$3,050,071$6,223,723
75$8,971,927$3,989,038$3,093,398$6,681,261
76$9,826,359$4,123,797$3,136,323$7,180,430
77$10,766,032$4,263,247$3,178,774$7,725,332
78$11,799,579$4,407,557$3,220,675$8,320,485
79$12,936,513$4,556,905$3,261,944$8,970,863
80$14,187,316$4,711,472$3,302,498$9,681,943
81$15,563,535$4,871,447$3,342,245$10,459,758
82$17,077,897$5,037,029$3,381,091$11,310,950
83$18,744,420$5,208,421$3,418,935$12,242,832
84$20,578,552$5,385,835$3,455,671$13,263,461
85$22,597,316$5,569,492$3,491,187$14,381,711
86$24,819,465$5,759,621$3,525,365$15,607,353
87$27,265,666$5,956,458$3,558,081$16,951,151
88$29,958,691$6,160,250$3,589,203$18,424,963
89$32,923,629$6,371,254$3,618,593$20,041,848
90$36,188,129$6,589,736$3,646,106$21,816,192
91$39,782,656$6,815,971$3,671,589$23,763,845
92$43,740,781$7,050,247$3,694,880$25,902,262
93$48,099,493$7,292,862$3,715,811$28,250,677
94$52,899,554$7,544,125$3,734,204$30,830,278
95$58,185,880$7,804,359$3,749,871$33,664,406
96$64,007,964$8,073,896$3,762,616$36,778,777
97$70,420,345$8,353,086$3,772,232$40,201,722
98$77,483,121$8,642,288$3,778,503$43,964,455
99$85,262,517$8,941,878$3,781,201$48,101,365
100$93,831,510$9,252,246$3,780,087$52,650,343