Can I retire at age 61 with 2,540,000?

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 $2,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$209,751$207,882$206,060$204,280$202,543$198,049
2 years$103,837$101,903$100,029$98,212$96,449$91,945
3 years$68,537$66,595$64,725$62,925$61,191$56,817
4 years$50,891$48,954$47,103$45,334$43,642$39,432
5 years$40,305$38,381$36,554$34,821$33,176$29,142
6 years$33,251$31,341$29,541$27,847$26,251$22,397
7 years$28,214$26,320$24,549$22,894$21,349$17,676
8 years$24,438$22,561$20,819$19,205$17,711$14,218
9 years$21,503$19,643$17,932$16,359$14,915$11,599
10 years$19,156$17,315$15,633$14,101$12,709$9,566
11 years$17,237$15,414$13,763$12,272$10,930$7,956
12 years$15,639$13,835$12,215$10,765$9,472$6,662
13 years$14,288$12,503$10,913$9,503$8,259$5,610
14 years$13,131$11,365$9,805$8,436$7,240$4,745
15 years$12,129$10,382$8,853$7,524$6,375$4,028
16 years$11,253$9,525$8,026$6,737$5,634$3,430
17 years$10,481$8,772$7,304$6,053$4,996$2,928
18 years$9,796$8,106$6,667$5,455$4,442$2,505
19 years$9,183$7,513$6,104$4,929$3,959$2,148
20 years$8,633$6,981$5,602$4,464$3,536$1,844
21 years$8,135$6,503$5,152$4,051$3,165$1,585
22 years$7,683$6,070$4,749$3,684$2,837$1,364
23 years$7,272$5,677$4,385$3,355$2,546$1,175
24 years$6,895$5,319$4,055$3,060$2,289$1,013
25 years$6,549$4,992$3,756$2,794$2,059$874
26 years$6,229$4,691$3,483$2,555$1,855$754
27 years$5,934$4,415$3,235$2,339$1,673$652
28 years$5,661$4,160$3,007$2,143$1,509$563
29 years$5,407$3,925$2,798$1,965$1,363$487
30 years$5,170$3,707$2,606$1,803$1,231$421
31 years$4,949$3,504$2,430$1,656$1,113$364
32 years$4,743$3,315$2,267$1,522$1,007$315
33 years$4,549$3,140$2,117$1,400$911$272
34 years$4,367$2,976$1,978$1,288$825$236
35 years$4,195$2,822$1,849$1,185$747$204
36 years$4,034$2,679$1,730$1,092$677$177
37 years$3,882$2,544$1,619$1,006$614$153
38 years$3,738$2,418$1,516$927$556$133
39 years$3,602$2,299$1,421$855$505$115
40 years$3,473$2,188$1,331$789$458$99
41 years$3,350$2,082$1,248$728$415$86
42 years$3,234$1,983$1,171$671$377$75
43 years$3,123$1,890$1,099$620$342$65
44 years$3,018$1,801$1,032$572$310$56
45 years$2,918$1,718$969$529$282$48
46 years$2,822$1,639$910$488$256$42
47 years$2,731$1,564$855$451$232$36
48 years$2,643$1,493$803$417$211$32
49 years$2,560$1,425$755$385$192$27
50 years$2,480$1,362$710$356$174$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,540,000, adding $6,557 every year, while hoping to spend $56,904 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: 77/11/12 Blend
60$2,540,000$2,540,000$2,540,000$2,540,000
61$2,805,844$2,671,224$2,631,854$3,014,911
62$3,031,494$2,741,568$2,659,475$3,223,847
63$3,278,254$2,813,452$2,686,115$3,444,999
64$3,548,216$2,886,892$2,711,680$3,685,890
65$3,843,685$2,961,900$2,736,072$3,948,466
66$4,167,199$3,038,491$2,759,188$4,234,869
67$4,521,552$3,116,676$2,780,920$4,547,458
68$4,909,821$3,196,465$2,801,152$4,888,833
69$5,335,398$3,277,866$2,819,765$5,261,855
70$5,802,013$3,360,886$2,836,632$5,669,676
71$6,313,779$3,445,530$2,851,620$6,115,771
72$6,875,223$3,531,800$2,864,588$6,603,964
73$7,491,335$3,619,697$2,875,391$7,138,470
74$8,167,607$3,709,218$2,883,872$7,723,932
75$8,910,092$3,800,359$2,889,871$8,365,464
76$9,725,456$3,893,111$2,893,216$9,068,701
77$10,621,043$3,987,464$2,893,730$9,839,853
78$11,604,943$4,083,403$2,891,223$10,685,758
79$12,686,068$4,180,911$2,885,500$11,613,953
80$13,874,237$4,279,965$2,876,354$12,632,742
81$15,180,266$4,380,541$2,863,569$13,751,272
82$16,616,072$4,482,606$2,846,917$14,979,626
83$18,194,784$4,586,126$2,826,162$16,328,909
84$19,930,866$4,691,061$2,801,052$17,811,360
85$21,840,255$4,797,364$2,771,329$19,440,465
86$23,940,511$4,904,984$2,736,718$21,231,084
87$26,250,977$5,013,862$2,696,932$23,199,590
88$28,792,970$5,123,935$2,651,672$25,364,025
89$31,589,975$5,235,129$2,600,625$27,744,271
90$34,667,868$5,347,366$2,543,462$30,362,235
91$38,055,161$5,460,558$2,479,838$33,242,059
92$41,783,269$5,574,607$2,409,395$36,410,344
93$45,886,809$5,689,410$2,331,756$39,896,406
94$50,403,922$5,804,849$2,246,529$43,732,546
95$55,376,636$5,920,800$2,153,300$47,954,362
96$60,851,258$6,037,125$2,051,642$52,601,080
97$66,878,818$6,153,675$1,941,103$57,715,927
98$73,515,542$6,270,290$1,821,215$63,346,537
99$80,823,387$6,386,794$1,691,485$69,545,402
100$88,870,623$6,502,998$1,551,401$76,370,368