Can I retire at age 61 with 2,800,000?

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 $2,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$231,221$229,162$227,152$225,191$223,276$220,303
2 years$114,466$112,334$110,268$108,265$106,322$103,332
3 years$75,553$73,412$71,351$69,366$67,455$64,540
4 years$56,100$53,965$51,925$49,975$48,109$45,293
5 years$44,431$42,309$40,296$38,385$36,572$33,861
6 years$36,655$34,549$32,565$30,697$28,938$26,337
7 years$31,102$29,014$27,062$25,238$23,535$21,043
8 years$26,940$24,870$22,951$21,171$19,524$17,143
9 years$23,704$21,654$19,767$18,033$16,442$14,170
10 years$21,117$19,087$17,234$15,545$14,010$11,845
11 years$19,001$16,992$15,172$13,529$12,049$9,989
12 years$17,240$15,251$13,465$11,866$10,441$8,484
13 years$15,750$13,783$12,030$10,476$9,105$7,248
14 years$14,475$12,528$10,809$9,300$7,981$6,222
15 years$13,370$11,445$9,759$8,294$7,027$5,363
16 years$12,405$10,500$8,848$7,426$6,211$4,638
17 years$11,554$9,670$8,051$6,672$5,507$4,022
18 years$10,799$8,936$7,350$6,013$4,896$3,497
19 years$10,123$8,282$6,728$5,433$4,364$3,046
20 years$9,516$7,696$6,175$4,921$3,898$2,659
21 years$8,968$7,168$5,680$4,466$3,489$2,324
22 years$8,470$6,691$5,235$4,061$3,127$2,034
23 years$8,016$6,258$4,833$3,698$2,807$1,782
24 years$7,601$5,864$4,470$3,373$2,523$1,563
25 years$7,219$5,503$4,140$3,080$2,270$1,372
26 years$6,867$5,172$3,840$2,816$2,045$1,206
27 years$6,542$4,867$3,566$2,578$1,844$1,060
28 years$6,241$4,586$3,315$2,362$1,664$932
29 years$5,961$4,327$3,085$2,166$1,502$821
30 years$5,700$4,086$2,873$1,988$1,357$723
31 years$5,456$3,863$2,679$1,826$1,227$636
32 years$5,228$3,655$2,499$1,678$1,110$561
33 years$5,014$3,461$2,334$1,543$1,005$494
34 years$4,814$3,280$2,180$1,420$910$436
35 years$4,625$3,111$2,038$1,307$824$384
36 years$4,447$2,953$1,907$1,204$746$339
37 years$4,279$2,805$1,785$1,109$677$299
38 years$4,120$2,666$1,671$1,022$613$264
39 years$3,970$2,535$1,566$942$556$233
40 years$3,828$2,412$1,468$869$504$205
41 years$3,693$2,296$1,376$802$458$181
42 years$3,565$2,186$1,291$740$415$160
43 years$3,443$2,083$1,211$683$377$141
44 years$3,327$1,986$1,137$631$342$125
45 years$3,216$1,893$1,068$583$311$110
46 years$3,111$1,806$1,003$538$282$97
47 years$3,010$1,724$942$497$256$86
48 years$2,914$1,646$885$459$233$76
49 years$2,822$1,571$832$425$211$67
50 years$2,734$1,501$782$392$192$59

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,800,000, adding $5,958 every year, while hoping to spend $37,029 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: 68/13/19 Blend
60$2,800,000$2,800,000$2,800,000$2,800,000
61$3,091,746$2,943,346$2,899,946$3,287,158
62$3,367,705$3,048,171$2,957,695$3,523,325
63$3,670,571$3,156,892$3,016,138$3,776,685
64$4,003,050$3,269,660$3,075,259$4,052,924
65$4,368,121$3,386,633$3,135,040$4,354,292
66$4,769,067$3,507,976$3,195,462$4,683,269
67$5,209,504$3,633,859$3,256,502$5,042,584
68$5,693,417$3,764,462$3,318,139$5,435,241
69$6,225,194$3,899,969$3,380,345$5,864,551
70$6,809,671$4,040,574$3,443,093$6,334,156
71$7,452,174$4,186,478$3,506,353$6,848,072
72$8,158,571$4,337,891$3,570,091$7,410,716
73$8,935,328$4,495,031$3,634,272$8,026,958
74$9,789,569$4,658,125$3,698,858$8,702,159
75$10,729,142$4,827,410$3,763,807$9,442,224
76$11,762,694$5,003,132$3,829,074$10,253,659
77$12,899,752$5,185,550$3,894,611$11,143,628
78$14,150,815$5,374,929$3,960,368$12,120,024
79$15,527,447$5,571,550$4,026,290$13,191,542
80$17,042,393$5,775,702$4,092,317$14,367,760
81$18,709,694$5,987,689$4,158,387$15,659,230
82$20,544,823$6,207,826$4,224,433$17,077,575
83$22,564,828$6,436,442$4,290,384$18,635,602
84$24,788,493$6,673,880$4,356,165$20,347,419
85$27,236,516$6,920,497$4,421,693$22,228,570
86$29,931,705$7,176,666$4,486,884$24,296,180
87$32,899,190$7,442,774$4,551,646$26,569,115
88$36,166,665$7,719,227$4,615,883$29,068,165
89$39,764,642$8,006,446$4,679,493$31,816,232
90$43,726,745$8,304,872$4,742,366$34,838,552
91$48,090,026$8,614,963$4,804,388$38,162,929
92$52,895,310$8,937,198$4,865,436$41,819,998
93$58,187,587$9,272,076$4,925,384$45,843,516
94$64,016,430$9,620,117$4,984,093$50,270,675
95$70,436,467$9,981,864$5,041,421$55,142,457
96$77,507,894$10,357,883$5,097,216$60,504,019
97$85,297,044$10,748,764$5,151,318$66,405,117
98$93,877,013$11,155,123$5,203,557$72,900,577
99$103,328,348$11,577,604$5,253,757$80,050,812
100$113,739,810$12,016,877$5,301,727$87,922,390