Can I retire at age 61 with 2,460,000?

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 $2,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$203,145$201,335$199,570$197,846$196,164$194,196
2 years$100,567$98,694$96,878$95,118$93,411$91,429
3 years$66,378$64,497$62,687$60,943$59,264$57,329
4 years$49,288$47,412$45,620$43,906$42,268$40,395
5 years$39,036$37,172$35,403$33,724$32,131$30,326
6 years$32,204$30,354$28,611$26,970$25,424$23,689
7 years$27,325$25,491$23,776$22,173$20,677$19,013
8 years$23,668$21,850$20,164$18,600$17,153$15,560
9 years$20,825$19,025$17,367$15,843$14,446$12,922
10 years$18,552$16,769$15,141$13,657$12,308$10,854
11 years$16,694$14,929$13,330$11,886$10,586$9,199
12 years$15,146$13,399$11,830$10,426$9,173$7,853
13 years$13,838$12,109$10,569$9,204$7,999$6,744
14 years$12,717$11,007$9,496$8,170$7,012$5,820
15 years$11,747$10,055$8,574$7,287$6,174$5,044
16 years$10,899$9,225$7,774$6,524$5,457$4,386
17 years$10,151$8,496$7,074$5,862$4,838$3,825
18 years$9,487$7,851$6,457$5,283$4,302$3,345
19 years$8,894$7,276$5,911$4,774$3,834$2,931
20 years$8,361$6,761$5,425$4,323$3,425$2,573
21 years$7,879$6,298$4,990$3,924$3,065$2,262
22 years$7,441$5,879$4,599$3,568$2,747$1,992
23 years$7,043$5,498$4,247$3,249$2,466$1,756
24 years$6,678$5,152$3,927$2,963$2,217$1,550
25 years$6,342$4,834$3,637$2,706$1,995$1,369
26 years$6,033$4,544$3,374$2,474$1,797$1,211
27 years$5,748$4,276$3,133$2,265$1,620$1,071
28 years$5,483$4,029$2,912$2,075$1,462$948
29 years$5,237$3,801$2,710$1,903$1,320$840
30 years$5,007$3,590$2,524$1,746$1,193$745
31 years$4,793$3,394$2,353$1,604$1,078$660
32 years$4,593$3,211$2,196$1,474$975$586
33 years$4,405$3,041$2,050$1,356$883$520
34 years$4,229$2,882$1,916$1,247$799$461
35 years$4,063$2,734$1,791$1,148$724$409
36 years$3,907$2,595$1,675$1,057$656$364
37 years$3,760$2,464$1,568$974$594$323
38 years$3,620$2,342$1,468$898$539$287
39 years$3,488$2,227$1,376$828$489$255
40 years$3,363$2,119$1,290$764$443$227
41 years$3,245$2,017$1,209$705$402$201
42 years$3,132$1,921$1,134$650$365$179
43 years$3,025$1,830$1,064$600$331$159
44 years$2,923$1,744$999$554$301$141
45 years$2,826$1,664$938$512$273$126
46 years$2,733$1,587$881$473$248$112
47 years$2,645$1,514$828$437$225$99
48 years$2,560$1,446$778$404$204$88
49 years$2,479$1,381$731$373$186$79
50 years$2,402$1,319$687$345$169$70

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,460,000, adding $4,945 every year, while hoping to spend $42,964 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: 78/5/17 Blend
60$2,460,000$2,460,000$2,460,000$2,460,000
61$2,716,021$2,585,641$2,547,511$2,917,337
62$2,947,342$2,666,624$2,587,139$3,131,838
63$3,200,817$2,750,135$2,626,655$3,361,165
64$3,478,662$2,836,253$2,666,009$3,611,550
65$3,783,314$2,925,059$2,705,150$3,885,087
66$4,117,461$3,016,635$2,744,021$4,184,077
67$4,484,061$3,111,069$2,782,564$4,511,060
68$4,886,372$3,208,449$2,820,717$4,868,829
69$5,327,985$3,308,865$2,858,414$5,260,463
70$5,812,853$3,412,413$2,895,585$5,689,355
71$6,345,332$3,519,190$2,932,155$6,159,240
72$6,930,221$3,629,294$2,968,046$6,674,235
73$7,572,804$3,742,831$3,003,177$7,238,873
74$8,278,906$3,859,905$3,037,459$7,858,151
75$9,054,940$3,980,627$3,070,800$8,537,573
76$9,907,975$4,105,109$3,103,103$9,283,201
77$10,845,797$4,233,467$3,134,265$10,101,718
78$11,876,984$4,365,823$3,164,179$11,000,483
79$13,010,987$4,502,298$3,192,729$11,987,608
80$14,258,218$4,643,021$3,219,796$13,072,029
81$15,630,150$4,788,123$3,245,253$14,263,591
82$17,139,424$4,937,740$3,268,967$15,573,144
83$18,799,966$5,092,010$3,290,798$17,012,641
84$20,627,121$5,251,077$3,310,599$18,595,255
85$22,637,797$5,415,090$3,328,214$20,335,499
86$24,850,624$5,584,200$3,343,480$22,249,366
87$27,286,127$5,758,566$3,356,227$24,354,478
88$29,966,926$5,938,349$3,366,274$26,670,254
89$32,917,940$6,123,717$3,373,432$29,218,092
90$36,166,632$6,314,840$3,377,504$32,021,568
91$39,743,258$6,511,897$3,378,280$35,106,666
92$43,681,160$6,715,070$3,375,543$38,502,016
93$48,017,078$6,924,548$3,369,062$42,239,165
94$52,791,493$7,140,523$3,358,599$46,352,881
95$58,049,013$7,363,197$3,343,900$50,881,473
96$63,838,793$7,592,775$3,324,701$55,867,156
97$70,214,998$7,829,468$3,300,726$61,356,451
98$77,237,311$8,073,496$3,271,685$67,400,622
99$84,971,503$8,325,083$3,237,272$74,056,159
100$93,490,046$8,584,462$3,197,170$81,385,314