Can I retire at age 61 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$204,796$202,972$201,192$199,455$197,759$192,978
2 years$101,384$99,496$97,666$95,892$94,171$89,383
3 years$66,918$65,022$63,196$61,439$59,746$55,101
4 years$49,688$47,798$45,991$44,263$42,611$38,144
5 years$39,353$37,474$35,691$33,998$32,392$28,116
6 years$32,465$30,600$28,843$27,189$25,631$21,550
7 years$27,548$25,698$23,969$22,353$20,845$16,960
8 years$23,861$22,028$20,328$18,752$17,293$13,602
9 years$20,995$19,179$17,508$15,972$14,563$11,063
10 years$18,703$16,906$15,264$13,768$12,408$9,095
11 years$16,830$15,050$13,438$11,983$10,672$7,541
12 years$15,270$13,508$11,926$10,510$9,248$6,294
13 years$13,950$12,207$10,655$9,279$8,064$5,282
14 years$12,821$11,096$9,574$8,237$7,069$4,452
15 years$11,842$10,137$8,644$7,346$6,224$3,766
16 years$10,987$9,300$7,837$6,577$5,501$3,196
17 years$10,234$8,565$7,131$5,910$4,878$2,719
18 years$9,564$7,915$6,510$5,326$4,337$2,318
19 years$8,966$7,335$5,959$4,812$3,866$1,979
20 years$8,429$6,816$5,469$4,359$3,453$1,693
21 years$7,943$6,349$5,031$3,956$3,090$1,449
22 years$7,502$5,927$4,637$3,597$2,770$1,243
23 years$7,100$5,543$4,281$3,275$2,486$1,066
24 years$6,732$5,193$3,959$2,987$2,235$916
25 years$6,394$4,874$3,667$2,728$2,011$787
26 years$6,082$4,581$3,401$2,495$1,811$676
27 years$5,794$4,311$3,158$2,283$1,633$582
28 years$5,527$4,062$2,936$2,092$1,474$501
29 years$5,279$3,832$2,732$1,918$1,331$431
30 years$5,048$3,619$2,545$1,761$1,202$371
31 years$4,832$3,421$2,373$1,617$1,087$320
32 years$4,631$3,237$2,214$1,486$983$275
33 years$4,441$3,066$2,067$1,367$890$237
34 years$4,264$2,905$1,931$1,257$806$205
35 years$4,096$2,756$1,805$1,157$730$176
36 years$3,939$2,616$1,689$1,066$661$152
37 years$3,790$2,484$1,581$982$599$131
38 years$3,650$2,361$1,480$905$543$113
39 years$3,517$2,245$1,387$835$493$98
40 years$3,391$2,136$1,300$770$447$84
41 years$3,271$2,033$1,219$710$405$73
42 years$3,157$1,936$1,143$656$368$63
43 years$3,049$1,845$1,073$605$334$54
44 years$2,947$1,759$1,007$559$303$47
45 years$2,849$1,677$946$516$275$40
46 years$2,755$1,600$888$477$250$35
47 years$2,666$1,527$834$440$227$30
48 years$2,581$1,457$784$407$206$26
49 years$2,499$1,392$737$376$187$22
50 years$2,421$1,330$693$348$170$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,480,000, adding $2,000 every year, while hoping to spend $52,678 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: 65/18/17 Blend
60$2,480,000$2,480,000$2,480,000$2,480,000
61$2,735,023$2,603,583$2,565,143$2,901,222
62$2,957,946$2,675,110$2,595,026$3,084,354
63$3,201,842$2,748,375$2,624,145$3,278,149
64$3,468,795$2,823,410$2,652,418$3,488,650
65$3,761,097$2,900,243$2,679,760$3,717,490
66$4,081,277$2,978,903$2,706,080$3,966,468
67$4,432,117$3,059,419$2,731,283$4,237,567
68$4,816,681$3,141,818$2,755,269$4,532,969
69$5,238,343$3,226,128$2,777,931$4,855,079
70$5,700,822$3,312,376$2,799,160$5,206,545
71$6,208,210$3,400,587$2,818,836$5,590,283
72$6,765,018$3,490,786$2,836,838$6,009,508
73$7,376,213$3,582,998$2,853,035$6,467,758
74$8,047,267$3,677,244$2,867,291$6,968,935
75$8,784,206$3,773,548$2,879,464$7,517,334
76$9,593,671$3,871,927$2,889,402$8,117,690
77$10,482,976$3,972,402$2,896,947$8,775,216
78$11,460,179$4,074,989$2,901,934$9,495,660
79$12,534,156$4,179,703$2,904,188$10,285,353
80$13,714,688$4,286,556$2,903,526$11,151,269
81$15,012,548$4,395,559$2,899,757$12,101,096
82$16,439,608$4,506,721$2,892,678$13,143,302
83$18,008,944$4,620,048$2,882,079$14,287,219
84$19,734,967$4,735,540$2,867,740$15,543,131
85$21,633,551$4,853,199$2,849,426$16,922,368
86$23,722,188$4,973,020$2,826,896$18,437,415
87$26,020,149$5,094,996$2,799,895$20,102,033
88$28,548,668$5,219,115$2,768,156$21,931,380
89$31,331,142$5,345,361$2,731,399$23,942,166
90$34,393,349$5,473,715$2,689,331$26,152,799
91$37,763,694$5,604,150$2,641,647$28,583,568
92$41,473,474$5,736,637$2,588,026$31,256,830
93$45,557,175$5,871,139$2,528,132$34,197,220
94$50,052,796$6,007,614$2,461,613$37,431,889
95$55,002,208$6,146,013$2,388,103$40,990,754
96$60,451,546$6,286,280$2,307,217$44,906,786
97$66,451,648$6,428,353$2,218,554$49,216,318
98$73,058,533$6,572,159$2,121,693$53,959,387
99$80,333,929$6,717,620$2,016,194$59,180,119
100$88,345,852$6,864,646$1,901,600$64,927,137