Can I retire at age 61 with 2,520,000?

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 $2,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$208,099$206,246$204,437$202,672$200,948$199,181
2 years$103,019$101,101$99,241$97,438$95,690$93,909
3 years$67,997$66,070$64,216$62,430$60,709$58,971
4 years$50,490$48,569$46,733$44,977$43,299$41,615
5 years$39,988$38,079$36,266$34,547$32,915$31,291
6 years$32,989$31,094$29,309$27,627$26,044$24,482
7 years$27,992$26,113$24,356$22,714$21,181$19,682
8 years$24,246$22,383$20,655$19,054$17,572$16,135
9 years$21,333$19,489$17,791$16,230$14,798$13,423
10 years$19,005$17,178$15,510$13,990$12,609$11,295
11 years$17,101$15,293$13,655$12,176$10,844$9,591
12 years$15,516$13,726$12,118$10,680$9,397$8,203
13 years$14,175$12,404$10,827$9,429$8,194$7,059
14 years$13,027$11,275$9,728$8,370$7,183$6,104
15 years$12,033$10,300$8,783$7,464$6,325$5,300
16 years$11,165$9,450$7,963$6,683$5,590$4,618
17 years$10,399$8,703$7,246$6,005$4,956$4,036
18 years$9,719$8,042$6,615$5,412$4,407$3,537
19 years$9,111$7,453$6,056$4,890$3,928$3,106
20 years$8,565$6,926$5,558$4,429$3,508$2,733
21 years$8,071$6,451$5,112$4,019$3,140$2,408
22 years$7,623$6,022$4,711$3,655$2,814$2,125
23 years$7,214$5,632$4,350$3,328$2,526$1,878
24 years$6,840$5,277$4,023$3,036$2,271$1,661
25 years$6,497$4,952$3,726$2,772$2,043$1,471
26 years$6,180$4,654$3,456$2,535$1,840$1,304
27 years$5,888$4,380$3,209$2,320$1,659$1,156
28 years$5,617$4,128$2,983$2,126$1,497$1,026
29 years$5,364$3,894$2,776$1,949$1,352$911
30 years$5,130$3,677$2,586$1,789$1,222$809
31 years$4,910$3,476$2,411$1,643$1,104$720
32 years$4,705$3,289$2,249$1,510$999$640
33 years$4,513$3,115$2,100$1,389$904$569
34 years$4,332$2,952$1,962$1,278$819$506
35 years$4,162$2,800$1,835$1,176$741$451
36 years$4,002$2,658$1,716$1,083$672$401
37 years$3,851$2,524$1,606$998$609$357
38 years$3,708$2,399$1,504$920$552$318
39 years$3,573$2,281$1,409$848$501$283
40 years$3,445$2,170$1,321$782$454$253
41 years$3,324$2,066$1,239$722$412$225
42 years$3,208$1,968$1,162$666$374$201
43 years$3,099$1,875$1,090$615$339$179
44 years$2,994$1,787$1,023$568$308$159
45 years$2,895$1,704$961$524$280$142
46 years$2,800$1,626$903$484$254$127
47 years$2,709$1,551$848$447$230$113
48 years$2,622$1,481$797$414$209$101
49 years$2,540$1,414$749$382$190$90
50 years$2,460$1,351$704$353$173$80

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,520,000, adding $4,244 every year, while hoping to spend $23,746 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: 61/21/18 Blend
60$2,520,000$2,520,000$2,520,000$2,520,000
61$2,781,418$2,647,858$2,608,798$2,937,992
62$3,039,857$2,752,337$2,670,927$3,148,622
63$3,323,861$2,861,140$2,734,341$3,375,363
64$3,636,012$2,974,454$2,799,060$3,622,263
65$3,979,156$3,092,473$2,865,099$3,891,281
66$4,356,428$3,215,401$2,932,477$4,184,574
67$4,771,280$3,343,452$3,001,211$4,504,511
68$5,227,517$3,476,849$3,071,319$4,853,704
69$5,729,332$3,615,823$3,142,817$5,235,025
70$6,281,344$3,760,617$3,215,721$5,651,635
71$6,888,640$3,911,487$3,290,047$6,107,014
72$7,556,829$4,068,698$3,365,811$6,604,993
73$8,292,088$4,232,526$3,443,028$7,149,788
74$9,101,224$4,403,263$3,521,712$7,746,042
75$9,991,736$4,581,211$3,601,877$8,398,867
76$10,971,890$4,766,687$3,683,537$9,113,889
77$12,050,792$4,960,023$3,766,704$9,897,306
78$13,238,474$5,161,565$3,851,390$10,755,941
79$14,545,992$5,371,676$3,937,605$11,697,308
80$15,985,528$5,590,733$4,025,360$12,729,680
81$17,570,507$5,819,134$4,114,665$13,862,171
82$19,315,718$6,057,291$4,205,526$15,104,817
83$21,237,462$6,305,639$4,297,951$16,468,670
84$23,353,697$6,564,628$4,391,946$17,965,904
85$25,684,213$6,834,734$4,487,515$19,609,927
86$28,250,817$7,116,451$4,584,662$21,415,509
87$31,077,540$7,410,297$4,683,387$23,398,917
88$34,190,860$7,716,813$4,783,692$25,578,072
89$37,619,957$8,036,565$4,885,575$27,972,710
90$41,396,983$8,370,147$4,989,032$30,604,578
91$45,557,369$8,718,178$5,094,058$33,497,627
92$50,140,157$9,081,306$5,200,646$36,678,245
93$55,188,373$9,460,209$5,308,787$40,175,501
94$60,749,424$9,855,597$5,418,469$44,021,419
95$66,875,556$10,268,212$5,529,678$48,251,279
96$73,624,339$10,698,830$5,642,398$52,903,950
97$81,059,213$11,148,264$5,756,610$58,022,253
98$89,250,087$11,617,364$5,872,291$63,653,366
99$98,274,000$12,107,019$5,989,417$69,849,266
100$108,215,845$12,618,160$6,107,959$76,667,222