Can I retire at age 61 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$240,305$238,165$236,076$234,038$232,047$223,903
2 years$118,963$116,747$114,600$112,518$110,499$102,379
3 years$78,521$76,296$74,154$72,091$70,105$62,265
4 years$58,304$56,085$53,965$51,938$49,999$42,499
5 years$46,177$43,972$41,879$39,893$38,009$30,868
6 years$38,095$35,906$33,845$31,903$30,075$23,299
7 years$32,324$30,154$28,125$26,229$24,459$18,046
8 years$27,998$25,847$23,852$22,003$20,291$14,237
9 years$24,635$22,505$20,544$18,742$17,088$11,384
10 years$21,946$19,837$17,911$16,156$14,560$9,197
11 years$19,748$17,660$15,768$14,060$12,522$7,489
12 years$17,917$15,850$13,994$12,333$10,851$6,136
13 years$16,369$14,324$12,503$10,888$9,463$5,053
14 years$15,044$13,020$11,234$9,665$8,295$4,177
15 years$13,896$11,894$10,142$8,620$7,303$3,465
16 years$12,892$10,913$9,196$7,718$6,455$2,881
17 years$12,008$10,050$8,368$6,934$5,723$2,401
18 years$11,223$9,287$7,639$6,249$5,089$2,005
19 years$10,521$8,607$6,993$5,647$4,536$1,676
20 years$9,890$7,998$6,418$5,114$4,051$1,403
21 years$9,320$7,450$5,903$4,641$3,626$1,176
22 years$8,803$6,954$5,441$4,220$3,250$987
23 years$8,331$6,504$5,023$3,843$2,917$828
24 years$7,899$6,094$4,646$3,505$2,622$695
25 years$7,502$5,719$4,303$3,201$2,359$584
26 years$7,137$5,375$3,991$2,927$2,125$491
27 years$6,799$5,058$3,706$2,679$1,916$413
28 years$6,486$4,766$3,445$2,455$1,729$347
29 years$6,195$4,497$3,206$2,251$1,561$292
30 years$5,924$4,246$2,986$2,066$1,411$246
31 years$5,670$4,014$2,784$1,897$1,275$207
32 years$5,433$3,798$2,597$1,744$1,154$174
33 years$5,211$3,597$2,425$1,604$1,044$147
34 years$5,003$3,409$2,266$1,475$945$124
35 years$4,807$3,234$2,119$1,358$856$104
36 years$4,622$3,069$1,982$1,251$776$88
37 years$4,447$2,915$1,855$1,152$703$74
38 years$4,282$2,770$1,737$1,062$637$62
39 years$4,126$2,634$1,627$979$578$52
40 years$3,978$2,506$1,525$903$524$44
41 years$3,838$2,386$1,430$834$476$37
42 years$3,705$2,272$1,342$769$432$31
43 years$3,578$2,165$1,259$710$392$26
44 years$3,457$2,064$1,182$656$356$22
45 years$3,343$1,968$1,110$606$323$19
46 years$3,233$1,877$1,042$559$293$16
47 years$3,128$1,791$979$517$266$13
48 years$3,028$1,710$920$477$242$11
49 years$2,933$1,633$865$441$219$9
50 years$2,841$1,560$813$408$199$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,910,000, adding $4,654 every year, while hoping to spend $27,430 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: 21/49/30 Blend
60$2,910,000$2,910,000$2,910,000$2,910,000
61$3,211,621$3,057,391$3,012,286$3,248,455
62$3,510,021$3,178,017$3,084,012$3,403,639
63$3,837,938$3,303,636$3,157,222$3,566,844
64$4,198,355$3,434,461$3,231,936$3,740,715
65$4,594,556$3,570,718$3,308,174$3,926,134
66$5,030,160$3,712,643$3,385,958$4,124,065
67$5,509,156$3,860,482$3,465,307$4,335,564
68$6,035,936$4,014,491$3,546,240$4,561,787
69$6,615,339$4,174,940$3,628,777$4,803,997
70$7,252,700$4,342,108$3,712,938$5,063,578
71$7,953,893$4,516,289$3,798,739$5,342,047
72$8,725,392$4,697,789$3,886,199$5,641,065
73$9,574,331$4,886,930$3,975,335$5,962,453
74$10,508,569$5,084,045$4,066,165$6,308,207
75$11,536,765$5,289,485$4,158,703$6,680,515
76$12,668,461$5,503,616$4,252,966$7,081,780
77$13,914,170$5,726,820$4,348,967$7,514,635
78$15,285,479$5,959,497$4,446,720$7,981,972
79$16,795,150$6,202,065$4,546,238$8,486,962
80$18,457,251$6,454,961$4,647,532$9,033,089
81$20,287,279$6,718,643$4,750,613$9,624,178
82$22,302,313$6,993,588$4,855,490$10,264,431
83$24,521,171$7,280,296$4,962,171$10,958,461
84$26,964,589$7,579,289$5,070,662$11,711,338
85$29,655,416$7,891,114$5,180,969$12,528,632
86$32,618,832$8,216,342$5,293,095$13,416,465
87$35,882,582$8,555,571$5,407,042$14,381,565
88$39,477,237$8,909,426$5,522,810$15,431,330
89$43,436,488$9,278,561$5,640,398$16,573,891
90$47,797,459$9,663,660$5,759,800$17,818,190
91$52,601,058$10,065,437$5,881,011$19,174,060
92$57,892,365$10,484,642$6,004,024$20,652,315
93$63,721,053$10,922,057$6,128,826$22,264,850
94$70,141,864$11,378,500$6,255,404$24,024,750
95$77,215,116$11,854,830$6,383,743$25,946,409
96$85,007,282$12,351,941$6,513,823$28,045,665
97$93,591,611$12,870,771$6,645,621$30,339,945
98$103,048,818$13,412,302$6,779,113$32,848,424
99$113,467,853$13,977,560$6,914,268$35,592,206
100$124,946,733$14,567,620$7,051,056$38,594,517