Can I retire at age 61 with 2,640,000?

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 $2,640,000?

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$218,009$216,067$214,172$212,323$210,517$205,428
2 years$107,925$105,915$103,967$102,078$100,246$95,150
3 years$71,235$69,217$67,274$65,403$63,600$58,656
4 years$52,894$50,882$48,958$47,119$45,360$40,605
5 years$41,892$39,892$37,993$36,192$34,482$29,930
6 years$34,560$32,575$30,704$28,943$27,285$22,940
7 years$29,325$27,356$25,515$23,796$22,190$18,054
8 years$25,400$23,449$21,639$19,961$18,408$14,479
9 years$22,349$20,417$18,638$17,003$15,503$11,777
10 years$19,910$17,996$16,249$14,657$13,209$9,682
11 years$17,916$16,021$14,305$12,756$11,360$8,027
12 years$16,255$14,380$12,695$11,188$9,844$6,700
13 years$14,850$12,995$11,343$9,878$8,585$5,623
14 years$13,648$11,812$10,191$8,768$7,525$4,740
15 years$12,606$10,791$9,201$7,820$6,626$4,009
16 years$11,696$9,900$8,342$7,002$5,856$3,402
17 years$10,894$9,118$7,591$6,291$5,192$2,894
18 years$10,181$8,425$6,930$5,669$4,617$2,467
19 years$9,545$7,808$6,344$5,123$4,115$2,107
20 years$8,973$7,256$5,822$4,640$3,676$1,802
21 years$8,455$6,759$5,355$4,211$3,289$1,543
22 years$7,986$6,309$4,936$3,829$2,948$1,323
23 years$7,558$5,901$4,557$3,487$2,647$1,135
24 years$7,166$5,528$4,215$3,180$2,379$975
25 years$6,806$5,188$3,904$2,904$2,141$837
26 years$6,475$4,876$3,620$2,656$1,928$720
27 years$6,168$4,589$3,362$2,431$1,738$619
28 years$5,884$4,324$3,125$2,227$1,569$533
29 years$5,620$4,079$2,908$2,042$1,416$459
30 years$5,374$3,852$2,709$1,874$1,280$395
31 years$5,144$3,642$2,526$1,721$1,157$340
32 years$4,929$3,446$2,356$1,582$1,047$293
33 years$4,728$3,263$2,200$1,455$947$253
34 years$4,539$3,093$2,056$1,339$858$218
35 years$4,361$2,934$1,922$1,232$777$188
36 years$4,193$2,784$1,798$1,135$704$162
37 years$4,035$2,645$1,683$1,046$638$140
38 years$3,885$2,513$1,576$964$578$120
39 years$3,743$2,390$1,476$889$524$104
40 years$3,609$2,274$1,384$820$476$90
41 years$3,482$2,164$1,298$756$432$77
42 years$3,361$2,061$1,217$698$392$67
43 years$3,246$1,964$1,142$644$355$57
44 years$3,137$1,872$1,072$595$323$50
45 years$3,032$1,785$1,007$549$293$43
46 years$2,933$1,703$946$507$266$37
47 years$2,838$1,625$888$469$241$32
48 years$2,747$1,551$835$433$219$27
49 years$2,661$1,482$785$400$199$24
50 years$2,578$1,415$738$370$181$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,640,000, adding $4,964 every year, while hoping to spend $33,208 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: 81/10/9 Blend
60$2,640,000$2,640,000$2,640,000$2,640,000
61$2,914,400$2,774,480$2,733,560$3,146,294
62$3,176,336$2,875,097$2,789,802$3,399,551
63$3,463,876$2,979,531$2,846,814$3,672,574
64$3,779,598$3,087,933$2,904,588$3,971,243
65$4,126,338$3,200,464$2,963,113$4,298,106
66$4,507,225$3,317,287$3,022,378$4,655,970
67$4,925,702$3,438,574$3,082,368$5,047,929
68$5,385,564$3,564,505$3,143,068$5,477,384
69$5,890,992$3,695,265$3,204,460$5,948,088
70$6,446,590$3,831,050$3,266,527$6,464,168
71$7,057,433$3,972,062$3,329,246$7,030,173
72$7,729,110$4,118,513$3,392,595$7,651,114
73$8,467,781$4,270,621$3,456,548$8,332,509
74$9,280,230$4,428,618$3,521,079$9,080,436
75$10,173,935$4,592,741$3,586,156$9,901,590
76$11,157,132$4,763,241$3,651,748$10,803,349
77$12,238,897$4,940,377$3,717,819$11,793,837
78$13,429,230$5,124,421$3,784,331$12,882,005
79$14,739,148$5,315,655$3,851,243$14,077,714
80$16,180,793$5,514,373$3,918,511$15,391,828
81$17,767,540$5,720,884$3,986,088$16,836,315
82$19,514,129$5,935,507$4,053,921$18,424,360
83$21,436,800$6,158,577$4,121,958$20,170,491
84$23,553,450$6,390,443$4,190,139$22,090,712
85$25,883,795$6,631,469$4,258,403$24,202,658
86$28,449,565$6,882,033$4,326,682$26,525,756
87$31,274,700$7,142,532$4,394,905$29,081,412
88$34,385,582$7,413,379$4,462,997$31,893,212
89$37,811,281$7,695,004$4,530,877$34,987,141
90$41,583,830$7,987,858$4,598,460$38,391,834
91$45,738,527$8,292,409$4,665,655$42,138,837
92$50,314,267$8,609,147$4,732,364$46,262,912
93$55,353,910$8,938,584$4,798,487$50,802,363
94$60,904,686$9,281,251$4,863,913$55,799,391
95$67,018,639$9,637,707$4,928,529$61,300,502
96$73,753,117$10,008,532$4,992,212$67,356,936
97$81,171,318$10,394,333$5,054,834$74,025,154
98$89,342,879$10,795,742$5,116,258$81,367,373
99$98,344,541$11,213,421$5,176,340$89,452,147
100$108,260,866$11,648,061$5,234,929$98,355,017