Can I retire at age 61 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$199,841$198,061$196,325$194,629$192,974$186,573
2 years$98,931$97,089$95,303$93,572$91,892$85,506
3 years$65,299$63,449$61,667$59,952$58,300$52,128
4 years$48,486$46,641$44,878$43,192$41,580$35,670
5 years$38,401$36,567$34,827$33,176$31,609$25,976
6 years$31,680$29,860$28,146$26,531$25,011$19,661
7 years$26,881$25,076$23,389$21,813$20,341$15,272
8 years$23,283$21,495$19,836$18,298$16,874$12,084
9 years$20,487$18,715$17,085$15,586$14,211$9,692
10 years$18,251$16,497$14,895$13,435$12,108$7,854
11 years$16,423$14,686$13,113$11,693$10,413$6,416
12 years$14,900$13,181$11,638$10,256$9,024$5,275
13 years$13,613$11,912$10,397$9,055$7,869$4,359
14 years$12,510$10,828$9,342$8,038$6,898$3,616
15 years$11,556$9,891$8,435$7,168$6,074$3,010
16 years$10,722$9,075$7,647$6,418$5,368$2,512
17 years$9,986$8,358$6,959$5,767$4,760$2,101
18 years$9,333$7,723$6,352$5,197$4,232$1,761
19 years$8,749$7,158$5,815$4,696$3,772$1,478
20 years$8,225$6,651$5,337$4,253$3,369$1,242
21 years$7,751$6,195$4,909$3,860$3,015$1,045
22 years$7,320$5,783$4,524$3,510$2,703$880
23 years$6,928$5,409$4,177$3,196$2,426$741
24 years$6,569$5,068$3,863$2,915$2,181$625
25 years$6,239$4,756$3,578$2,662$1,962$527
26 years$5,935$4,470$3,319$2,434$1,767$445
27 years$5,654$4,207$3,082$2,228$1,594$376
28 years$5,394$3,964$2,865$2,041$1,438$317
29 years$5,152$3,739$2,666$1,872$1,298$268
30 years$4,926$3,531$2,483$1,718$1,173$227
31 years$4,716$3,338$2,315$1,578$1,061$192
32 years$4,519$3,159$2,160$1,450$959$162
33 years$4,334$2,991$2,017$1,334$868$137
34 years$4,160$2,835$1,884$1,227$786$116
35 years$3,997$2,689$1,762$1,129$712$98
36 years$3,844$2,552$1,648$1,040$645$83
37 years$3,698$2,424$1,543$958$585$70
38 years$3,561$2,304$1,445$883$530$59
39 years$3,432$2,191$1,353$815$481$50
40 years$3,309$2,084$1,269$751$436$42
41 years$3,192$1,984$1,190$693$396$36
42 years$3,081$1,890$1,116$640$359$30
43 years$2,976$1,800$1,047$591$326$26
44 years$2,875$1,716$983$545$296$22
45 years$2,780$1,636$923$504$268$18
46 years$2,689$1,561$867$465$244$16
47 years$2,602$1,490$814$430$221$13
48 years$2,518$1,422$765$397$201$11
49 years$2,439$1,358$719$367$183$9
50 years$2,363$1,297$676$339$166$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,420,000, adding $5,922 every year, while hoping to spend $44,214 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: 67/13/20 Blend
60$2,420,000$2,420,000$2,420,000$2,420,000
61$2,672,949$2,544,689$2,507,179$2,838,301
62$2,898,546$2,622,335$2,544,126$3,027,421
63$3,145,672$2,702,304$2,580,829$3,228,497
64$3,416,477$2,784,663$2,617,233$3,447,323
65$3,713,327$2,869,481$2,653,279$3,685,645
66$4,038,830$2,956,829$2,688,908$3,945,385
67$4,395,856$3,046,779$2,724,052$4,228,659
68$4,787,569$3,139,407$2,758,642$4,537,799
69$5,217,451$3,234,788$2,792,607$4,875,371
70$5,689,340$3,333,001$2,825,869$5,244,204
71$6,207,463$3,434,128$2,858,345$5,647,413
72$6,776,475$3,538,252$2,889,950$6,088,429
73$7,401,505$3,645,456$2,920,594$6,571,032
74$8,088,205$3,755,829$2,950,180$7,099,386
75$8,842,797$3,869,461$2,978,607$7,678,079
76$9,672,141$3,986,442$3,005,768$8,312,164
77$10,583,790$4,106,869$3,031,552$9,007,209
78$11,586,067$4,230,836$3,055,840$9,769,349
79$12,688,143$4,358,444$3,078,507$10,605,341
80$13,900,120$4,489,794$3,099,423$11,522,632
81$15,233,129$4,624,990$3,118,451$12,529,426
82$16,699,433$4,764,140$3,135,444$13,634,763
83$18,312,545$4,907,353$3,150,251$14,848,603
84$20,087,352$5,054,741$3,162,712$16,181,920
85$22,040,258$5,206,419$3,172,659$17,646,807
86$24,189,335$5,362,505$3,179,914$19,256,589
87$26,554,500$5,523,120$3,184,294$21,025,947
88$29,157,693$5,688,387$3,185,602$22,971,058
89$32,023,094$5,858,433$3,183,635$25,109,751
90$35,177,341$6,033,389$3,178,179$27,461,668
91$38,649,790$6,213,385$3,169,008$30,048,454
92$42,472,787$6,398,559$3,155,888$32,893,962
93$46,681,972$6,589,049$3,138,571$36,024,475
94$51,316,618$6,784,997$3,116,798$39,468,956
95$56,420,000$6,986,549$3,090,297$43,259,320
96$62,039,803$7,193,853$3,058,786$47,430,738
97$68,228,572$7,407,061$3,021,964$52,021,965
98$75,044,208$7,626,329$2,979,522$57,075,707
99$82,550,514$7,851,815$2,931,132$62,639,029
100$90,817,794$8,083,682$2,876,453$68,763,790