Can I retire at age 61 with 2,620,000?

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 $2,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$216,357$214,430$212,550$210,714$208,922$203,707
2 years$107,108$105,113$103,179$101,305$99,487$94,265
3 years$70,696$68,692$66,764$64,907$63,119$58,054
4 years$52,493$50,496$48,587$46,762$45,017$40,148
5 years$41,575$39,590$37,706$35,918$34,221$29,562
6 years$34,298$32,328$30,472$28,724$27,078$22,634
7 years$29,103$27,149$25,322$23,615$22,022$17,792
8 years$25,208$23,272$21,475$19,810$18,269$14,253
9 years$22,180$20,262$18,497$16,874$15,385$11,578
10 years$19,759$17,860$16,126$14,546$13,109$9,507
11 years$17,780$15,900$14,197$12,659$11,274$7,872
12 years$16,132$14,271$12,599$11,104$9,770$6,562
13 years$14,738$12,897$11,257$9,803$8,520$5,500
14 years$13,544$11,723$10,114$8,702$7,468$4,629
15 years$12,511$10,709$9,132$7,761$6,576$3,911
16 years$11,608$9,825$8,279$6,949$5,812$3,314
17 years$10,811$9,049$7,534$6,243$5,153$2,815
18 years$10,104$8,361$6,877$5,627$4,582$2,396
19 years$9,472$7,749$6,296$5,084$4,084$2,043
20 years$8,905$7,201$5,778$4,605$3,648$1,745
21 years$8,391$6,707$5,315$4,179$3,264$1,492
22 years$7,925$6,261$4,898$3,800$2,926$1,277
23 years$7,501$5,856$4,523$3,460$2,627$1,094
24 years$7,112$5,487$4,183$3,156$2,361$938
25 years$6,755$5,149$3,874$2,882$2,124$805
26 years$6,426$4,839$3,593$2,635$1,914$691
27 years$6,121$4,554$3,336$2,412$1,725$593
28 years$5,839$4,291$3,102$2,210$1,557$510
29 years$5,577$4,048$2,886$2,027$1,406$438
30 years$5,333$3,823$2,689$1,860$1,270$377
31 years$5,105$3,614$2,506$1,708$1,148$324
32 years$4,892$3,420$2,339$1,570$1,039$279
33 years$4,692$3,239$2,184$1,444$940$240
34 years$4,504$3,070$2,040$1,328$851$206
35 years$4,328$2,911$1,907$1,223$771$177
36 years$4,161$2,763$1,784$1,126$698$153
37 years$4,004$2,625$1,670$1,038$633$131
38 years$3,856$2,494$1,564$956$574$113
39 years$3,715$2,372$1,465$882$520$97
40 years$3,582$2,257$1,373$813$472$84
41 years$3,456$2,148$1,288$750$428$72
42 years$3,336$2,046$1,208$693$389$62
43 years$3,222$1,949$1,134$639$353$54
44 years$3,113$1,858$1,064$590$320$46
45 years$3,009$1,772$999$545$291$40
46 years$2,911$1,690$938$504$264$34
47 years$2,817$1,613$882$465$240$29
48 years$2,726$1,540$828$430$218$25
49 years$2,640$1,470$779$397$198$22
50 years$2,558$1,405$732$367$180$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,620,000, adding $5,835 every year, while hoping to spend $36,228 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: 68/5/27 Blend
60$2,620,000$2,620,000$2,620,000$2,620,000
61$2,893,259$2,754,399$2,713,789$3,069,343
62$3,149,825$2,850,818$2,766,154$3,284,876
63$3,431,347$2,950,748$2,819,060$3,515,940
64$3,740,331$3,054,321$2,872,486$3,767,922
65$4,079,540$3,161,678$2,926,409$4,042,894
66$4,452,015$3,272,963$2,980,806$4,343,136
67$4,861,109$3,388,326$3,035,651$4,671,161
68$5,310,512$3,507,924$3,090,916$5,029,734
69$5,804,292$3,631,920$3,146,569$5,421,905
70$6,346,928$3,760,483$3,202,578$5,851,029
71$6,943,358$3,893,789$3,258,907$6,320,806
72$7,599,018$4,032,022$3,315,518$6,835,308
73$8,319,900$4,175,373$3,372,369$7,399,025
74$9,112,603$4,324,041$3,429,418$8,016,900
75$9,984,401$4,478,231$3,486,616$8,694,381
76$10,943,305$4,638,160$3,543,912$9,437,469
77$11,998,143$4,804,050$3,601,254$10,252,776
78$13,158,641$4,976,136$3,658,584$11,147,586
79$14,435,516$5,154,660$3,715,839$12,129,927
80$15,840,574$5,339,874$3,772,956$13,208,640
81$17,386,826$5,532,041$3,829,864$14,393,470
82$19,088,608$5,731,437$3,886,489$15,695,154
83$20,961,713$5,938,344$3,942,754$17,125,519
84$23,023,546$6,153,061$3,998,574$18,697,601
85$25,293,284$6,375,898$4,053,863$20,425,762
86$27,792,057$6,607,175$4,108,525$22,325,827
87$30,543,149$6,847,229$4,162,463$24,415,234
88$33,572,216$7,096,409$4,215,572$26,713,197
89$36,907,529$7,355,079$4,267,740$29,240,891
90$40,580,238$7,623,619$4,318,850$32,021,647
91$44,624,670$7,902,424$4,368,779$35,081,172
92$49,078,649$8,191,905$4,417,396$38,447,796
93$53,983,855$8,492,493$4,464,563$42,152,738
94$59,386,217$8,804,633$4,510,134$46,230,397
95$65,336,343$9,128,793$4,553,956$50,718,679
96$71,890,004$9,465,458$4,595,867$55,659,357
97$79,108,653$9,815,134$4,635,697$61,098,460
98$87,060,009$10,178,348$4,673,266$67,086,713
99$95,818,694$10,555,652$4,708,386$73,680,011
100$105,466,941$10,947,619$4,740,856$80,939,950