Can I retire at age 61 with 2,860,000?

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 $2,860,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$236,176$234,072$232,020$230,017$228,060$222,638
2 years$116,919$114,741$112,631$110,585$108,600$103,168
3 years$77,172$74,985$72,880$70,853$68,900$63,630
4 years$57,302$55,122$53,038$51,045$49,140$44,071
5 years$45,383$43,216$41,159$39,208$37,356$32,502
6 years$37,440$35,289$33,263$31,355$29,558$24,925
7 years$31,769$29,636$27,642$25,779$24,039$19,627
8 years$27,517$25,403$23,442$21,625$19,943$15,750
9 years$24,212$22,118$20,191$18,420$16,794$12,818
10 years$21,569$19,496$17,603$15,878$14,310$10,545
11 years$19,408$17,356$15,497$13,819$12,307$8,748
12 years$17,609$15,578$13,753$12,121$10,665$7,307
13 years$16,088$14,078$12,288$10,701$9,300$6,136
14 years$14,785$12,796$11,041$9,499$8,152$5,175
15 years$13,657$11,690$9,968$8,471$7,178$4,381
16 years$12,671$10,725$9,038$7,585$6,344$3,720
17 years$11,802$9,878$8,224$6,815$5,625$3,167
18 years$11,030$9,127$7,507$6,142$5,001$2,702
19 years$10,340$8,459$6,873$5,550$4,458$2,309
20 years$9,720$7,861$6,307$5,026$3,982$1,976
21 years$9,160$7,322$5,802$4,562$3,563$1,694
22 years$8,651$6,835$5,347$4,148$3,194$1,453
23 years$8,188$6,392$4,937$3,777$2,867$1,248
24 years$7,763$5,989$4,566$3,445$2,577$1,072
25 years$7,374$5,621$4,229$3,146$2,319$922
26 years$7,014$5,282$3,922$2,877$2,089$793
27 years$6,682$4,971$3,642$2,633$1,883$683
28 years$6,374$4,684$3,386$2,413$1,699$588
29 years$6,088$4,419$3,151$2,212$1,534$507
30 years$5,822$4,174$2,935$2,030$1,386$437
31 years$5,573$3,945$2,736$1,865$1,253$377
32 years$5,340$3,733$2,553$1,714$1,134$325
33 years$5,122$3,535$2,384$1,576$1,026$280
34 years$4,917$3,351$2,227$1,450$929$242
35 years$4,724$3,178$2,082$1,335$841$208
36 years$4,542$3,016$1,948$1,229$762$180
37 years$4,371$2,865$1,823$1,133$691$155
38 years$4,209$2,723$1,707$1,044$626$134
39 years$4,055$2,589$1,599$963$568$116
40 years$3,910$2,463$1,499$888$515$100
41 years$3,772$2,345$1,406$819$467$86
42 years$3,641$2,233$1,319$756$424$74
43 years$3,517$2,128$1,237$698$385$64
44 years$3,398$2,028$1,162$644$349$55
45 years$3,285$1,934$1,091$595$317$48
46 years$3,177$1,845$1,024$550$288$41
47 years$3,075$1,761$962$508$262$36
48 years$2,976$1,681$904$469$238$31
49 years$2,882$1,605$850$434$216$27
50 years$2,792$1,533$799$401$196$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,860,000, adding $4,435 every year, while hoping to spend $20,058 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: 40/42/18 Blend
60$2,860,000$2,860,000$2,860,000$2,860,000
61$3,156,295$3,004,715$2,960,385$3,265,524
62$3,456,895$3,130,604$3,038,216$3,469,719
63$3,787,485$3,261,990$3,117,982$3,688,213
64$4,151,101$3,399,120$3,199,728$3,924,166
65$4,551,091$3,542,255$3,283,496$4,179,175
66$4,991,142$3,691,665$3,369,333$4,454,994
67$5,475,317$3,847,635$3,457,284$4,753,549
68$6,008,092$4,010,463$3,547,397$5,076,952
69$6,594,402$4,180,459$3,639,718$5,427,523
70$7,239,679$4,357,950$3,734,297$5,807,811
71$7,949,914$4,543,277$3,831,183$6,220,616
72$8,731,703$4,736,796$3,930,426$6,669,011
73$9,592,318$4,938,880$4,032,077$7,156,377
74$10,539,771$5,149,921$4,136,188$7,686,426
75$11,582,888$5,370,328$4,242,811$8,263,239
76$12,731,397$5,600,529$4,351,999$8,891,304
77$13,996,017$5,840,971$4,463,808$9,575,552
78$15,388,557$6,092,125$4,578,292$10,321,407
79$16,922,032$6,354,482$4,695,507$11,134,832
80$18,610,782$6,628,554$4,815,510$12,022,385
81$20,470,610$6,914,882$4,938,357$12,991,279
82$22,518,929$7,214,027$5,064,109$14,049,451
83$24,774,926$7,526,581$5,192,823$15,205,628
84$27,259,745$7,853,161$5,324,559$16,469,415
85$29,996,686$8,194,412$5,459,379$17,851,378
86$33,011,423$8,551,014$5,597,343$19,363,143
87$36,332,248$8,923,673$5,738,514$21,017,507
88$39,990,338$9,313,133$5,882,955$22,828,549
89$44,020,047$9,720,171$6,030,728$24,811,770
90$48,459,233$10,145,601$6,181,899$26,984,226
91$53,349,614$10,590,275$6,336,532$29,364,694
92$58,737,161$11,055,085$6,494,692$31,973,846
93$64,672,534$11,540,967$6,656,447$34,834,434
94$71,211,556$12,048,898$6,821,862$37,971,510
95$78,415,745$12,579,904$6,991,005$41,412,655
96$86,352,891$13,135,059$7,163,943$45,188,237
97$95,097,696$13,715,487$7,340,745$49,331,692
98$104,732,480$14,322,365$7,521,479$53,879,840
99$115,347,959$14,956,928$7,706,215$58,873,223
100$127,044,099$15,620,465$7,895,021$64,356,489