Can I retire at age 61 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$233,699$231,617$229,586$227,604$225,668$222,848
2 years$115,692$113,538$111,450$109,425$107,461$104,624
3 years$76,362$74,198$72,115$70,110$68,178$65,411
4 years$56,701$54,544$52,481$50,510$48,625$45,950
5 years$44,907$42,763$40,728$38,797$36,964$34,389
6 years$37,047$34,919$32,914$31,026$29,248$26,776
7 years$31,435$29,325$27,352$25,508$23,787$21,418
8 years$27,228$25,137$23,196$21,398$19,733$17,468
9 years$23,958$21,886$19,979$18,226$16,618$14,456
10 years$21,343$19,292$17,418$15,711$14,160$12,098
11 years$19,205$17,174$15,335$13,674$12,178$10,216
12 years$17,424$15,415$13,609$11,994$10,553$8,688
13 years$15,919$13,930$12,159$10,589$9,202$7,432
14 years$14,630$12,662$10,925$9,399$8,067$6,389
15 years$13,514$11,567$9,864$8,383$7,103$5,514
16 years$12,538$10,613$8,943$7,506$6,277$4,775
17 years$11,678$9,774$8,138$6,744$5,566$4,147
18 years$10,914$9,032$7,429$6,077$4,949$3,610
19 years$10,232$8,370$6,801$5,492$4,411$3,150
20 years$9,618$7,778$6,241$4,974$3,940$2,753
21 years$9,064$7,245$5,741$4,514$3,526$2,410
22 years$8,561$6,763$5,291$4,104$3,160$2,112
23 years$8,102$6,325$4,885$3,738$2,837$1,854
24 years$7,682$5,926$4,518$3,409$2,550$1,629
25 years$7,296$5,562$4,185$3,113$2,295$1,432
26 years$6,941$5,227$3,881$2,847$2,067$1,260
27 years$6,612$4,919$3,604$2,606$1,863$1,110
28 years$6,307$4,635$3,350$2,387$1,681$978
29 years$6,024$4,373$3,118$2,189$1,518$862
30 years$5,761$4,130$2,904$2,009$1,372$760
31 years$5,514$3,904$2,707$1,845$1,240$671
32 years$5,284$3,694$2,526$1,696$1,122$592
33 years$5,068$3,498$2,359$1,559$1,015$523
34 years$4,865$3,316$2,204$1,435$919$461
35 years$4,674$3,145$2,060$1,321$833$408
36 years$4,495$2,985$1,927$1,216$754$360
37 years$4,325$2,835$1,804$1,121$684$318
38 years$4,165$2,694$1,689$1,033$620$281
39 years$4,013$2,562$1,583$953$562$249
40 years$3,869$2,437$1,483$879$510$220
41 years$3,733$2,320$1,391$811$463$194
42 years$3,603$2,210$1,305$748$420$172
43 years$3,480$2,105$1,224$691$381$152
44 years$3,362$2,007$1,149$638$346$134
45 years$3,251$1,914$1,079$589$314$119
46 years$3,144$1,826$1,014$544$285$105
47 years$3,042$1,742$952$503$259$93
48 years$2,945$1,663$895$464$235$82
49 years$2,852$1,588$841$429$213$73
50 years$2,763$1,517$791$397$194$64

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,830,000, adding $5,320 every year, while hoping to spend $41,370 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: 55/32/13 Blend
60$2,830,000$2,830,000$2,830,000$2,830,000
61$3,124,148$2,974,158$2,930,293$3,285,193
62$3,398,793$3,075,874$2,984,440$3,496,844
63$3,700,066$3,181,188$3,039,015$3,722,235
64$4,030,639$3,290,232$3,093,988$3,966,694
65$4,393,455$3,403,144$3,149,327$4,232,046
66$4,791,756$3,520,067$3,204,998$4,520,301
67$5,229,114$3,641,149$3,260,965$4,833,667
68$5,709,464$3,766,546$3,317,187$5,174,577
69$6,237,139$3,896,416$3,373,623$5,545,706
70$6,816,914$4,030,928$3,430,226$5,949,997
71$7,454,050$4,170,253$3,486,949$6,390,690
72$8,154,340$4,314,573$3,543,739$6,871,350
73$8,924,169$4,464,074$3,600,541$7,395,904
74$9,770,571$4,618,949$3,657,295$7,968,670
75$10,701,294$4,779,402$3,713,939$8,594,406
76$11,724,875$4,945,643$3,770,405$9,278,346
77$12,850,721$5,117,888$3,826,623$10,026,257
78$14,089,196$5,296,366$3,882,516$10,844,485
79$15,451,717$5,481,311$3,938,004$11,740,021
80$16,950,867$5,672,970$3,993,002$12,720,560
81$18,600,507$5,871,597$4,047,419$13,794,577
82$20,415,911$6,077,457$4,101,159$14,971,407
83$22,413,907$6,290,826$4,154,121$16,261,328
84$24,613,040$6,511,991$4,206,199$17,675,663
85$27,033,741$6,741,249$4,257,277$19,226,879
86$29,698,524$6,978,912$4,307,238$20,928,710
87$32,632,196$7,225,301$4,355,953$22,796,284
88$35,862,092$7,480,753$4,403,289$24,846,263
89$39,418,332$7,745,617$4,449,106$27,097,002
90$43,334,105$8,020,255$4,493,254$29,568,718
91$47,645,983$8,305,046$4,535,577$32,283,683
92$52,394,263$8,600,384$4,575,909$35,266,434
93$57,623,353$8,906,678$4,614,077$38,543,997
94$63,382,183$9,224,354$4,649,897$42,146,151
95$69,724,674$9,553,855$4,683,177$46,105,697
96$76,710,240$9,895,643$4,713,712$50,458,776
97$84,404,354$10,250,198$4,741,291$55,245,204
98$92,879,161$10,618,022$4,765,688$60,508,847
99$102,214,165$10,999,634$4,786,667$66,298,033
100$112,496,971$11,395,577$4,803,982$72,666,010