Can I retire at age 61 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$201,493$199,698$197,947$196,238$194,569$193,424
2 years$99,749$97,891$96,091$94,345$92,652$91,497
3 years$65,839$63,973$62,177$60,448$58,782$57,652
4 years$48,887$47,027$45,249$43,549$41,924$40,829
5 years$38,719$36,870$35,115$33,450$31,870$30,812
6 years$31,942$30,107$28,378$26,750$25,218$24,199
7 years$27,103$25,284$23,582$21,993$20,509$19,529
8 years$23,476$21,673$20,000$18,449$17,014$16,074
9 years$20,656$18,870$17,226$15,715$14,328$13,427
10 years$18,402$16,633$15,018$13,546$12,208$11,346
11 years$16,558$14,807$13,221$11,789$10,500$9,676
12 years$15,023$13,290$11,734$10,341$9,099$8,312
13 years$13,725$12,011$10,483$9,129$7,934$7,184
14 years$12,614$10,917$9,419$8,104$6,955$6,241
15 years$11,651$9,973$8,504$7,227$6,124$5,445
16 years$10,810$9,150$7,710$6,471$5,412$4,767
17 years$10,069$8,427$7,016$5,814$4,799$4,187
18 years$9,410$7,787$6,405$5,240$4,267$3,687
19 years$8,822$7,217$5,863$4,735$3,803$3,254
20 years$8,293$6,706$5,381$4,288$3,397$2,877
21 years$7,815$6,247$4,950$3,892$3,040$2,549
22 years$7,381$5,831$4,562$3,539$2,725$2,261
23 years$6,985$5,454$4,212$3,223$2,446$2,009
24 years$6,623$5,110$3,895$2,939$2,199$1,787
25 years$6,291$4,795$3,608$2,684$1,978$1,590
26 years$5,984$4,507$3,346$2,454$1,782$1,417
27 years$5,701$4,241$3,107$2,247$1,607$1,264
28 years$5,438$3,997$2,889$2,058$1,450$1,128
29 years$5,194$3,770$2,688$1,888$1,309$1,007
30 years$4,967$3,561$2,504$1,732$1,183$900
31 years$4,754$3,366$2,334$1,591$1,069$805
32 years$4,556$3,185$2,178$1,462$967$720
33 years$4,370$3,016$2,033$1,345$875$644
34 years$4,195$2,859$1,900$1,237$793$576
35 years$4,030$2,711$1,776$1,139$718$516
36 years$3,875$2,573$1,662$1,049$650$462
37 years$3,729$2,444$1,555$966$590$414
38 years$3,591$2,323$1,457$891$534$371
39 years$3,460$2,209$1,365$821$485$332
40 years$3,336$2,102$1,279$758$440$298
41 years$3,218$2,000$1,199$699$399$267
42 years$3,106$1,905$1,125$645$362$239
43 years$3,000$1,815$1,056$595$328$215
44 years$2,899$1,730$991$550$298$192
45 years$2,803$1,650$930$508$271$173
46 years$2,711$1,574$874$469$246$155
47 years$2,623$1,502$821$433$223$139
48 years$2,539$1,434$772$400$203$125
49 years$2,459$1,369$725$370$184$112
50 years$2,382$1,308$682$342$167$100

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,440,000, adding $4,293 every year, while hoping to spend $33,666 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: 63/16/21 Blend
60$2,440,000$2,440,000$2,440,000$2,440,000
61$2,693,308$2,563,988$2,526,168$2,848,112
62$2,932,205$2,653,803$2,574,975$3,042,821
63$3,194,342$2,746,891$2,624,287$3,251,228
64$3,482,052$2,843,376$2,674,088$3,478,068
65$3,797,908$2,943,388$2,724,357$3,725,146
66$4,144,743$3,047,063$2,775,072$3,994,445
67$4,525,678$3,154,540$2,826,208$4,288,151
68$4,944,151$3,265,966$2,877,739$4,608,670
69$5,403,948$3,381,493$2,929,638$4,958,651
70$5,909,244$3,501,278$2,981,873$5,341,010
71$6,464,633$3,625,487$3,034,412$5,758,959
72$7,075,180$3,754,291$3,087,220$6,216,035
73$7,746,465$3,887,867$3,140,258$6,716,133
74$8,484,633$4,026,402$3,193,486$7,263,544
75$9,296,458$4,170,088$3,246,859$7,862,991
76$10,189,400$4,319,125$3,300,333$8,519,678
77$11,171,680$4,473,724$3,353,855$9,239,338
78$12,252,356$4,634,101$3,407,374$10,028,283
79$13,441,408$4,800,483$3,460,832$10,893,469
80$14,749,831$4,973,107$3,514,170$11,842,556
81$16,189,742$5,152,217$3,567,323$12,883,982
82$17,774,489$5,338,069$3,620,222$14,027,044
83$19,518,783$5,530,930$3,672,795$15,281,983
84$21,438,830$5,731,078$3,724,965$16,660,082
85$23,552,490$5,938,799$3,776,651$18,173,770
86$25,879,440$6,154,397$3,827,765$19,836,740
87$28,441,364$6,378,184$3,878,216$21,664,080
88$31,262,155$6,610,486$3,927,908$23,672,410
89$34,368,139$6,851,644$3,976,737$25,880,044
90$37,788,326$7,102,012$4,024,595$28,307,158
91$41,554,684$7,361,959$4,071,367$30,975,983
92$45,702,436$7,631,869$4,116,932$33,911,012
93$50,270,398$7,912,145$4,161,163$37,139,233
94$55,301,341$8,203,202$4,203,925$40,690,381
95$60,842,397$8,505,478$4,245,075$44,597,220
96$66,945,499$8,819,425$4,284,463$48,895,850
97$73,667,880$9,145,516$4,321,932$53,626,049
98$81,072,603$9,484,245$4,357,316$58,831,648
99$89,229,161$9,836,126$4,390,438$64,560,941
100$98,214,133$10,201,694$4,421,116$70,867,145