Can I retire at age 61 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$241,131$238,983$236,887$234,842$232,845$225,753
2 years$119,372$117,149$114,994$112,905$110,879$103,795
3 years$78,791$76,558$74,409$72,339$70,346$63,492
4 years$58,504$56,278$54,150$52,116$50,171$43,600
5 years$46,335$44,123$42,023$40,030$38,139$31,868
6 years$38,225$36,030$33,961$32,013$30,178$24,213
7 years$32,435$30,258$28,222$26,319$24,543$18,883
8 years$28,094$25,936$23,934$22,079$20,361$15,003
9 years$24,720$22,582$20,614$18,806$17,147$12,085
10 years$22,022$19,905$17,972$16,211$14,610$9,837
11 years$19,816$17,720$15,822$14,108$12,565$8,072
12 years$17,979$15,905$14,042$12,375$10,889$6,667
13 years$16,425$14,373$12,546$10,925$9,495$5,535
14 years$15,095$13,065$11,272$9,698$8,323$4,614
15 years$13,944$11,935$10,177$8,649$7,329$3,860
16 years$12,937$10,950$9,227$7,744$6,477$3,238
17 years$12,049$10,085$8,396$6,958$5,743$2,723
18 years$11,261$9,319$7,665$6,271$5,106$2,293
19 years$10,557$8,637$7,017$5,666$4,551$1,935
20 years$9,924$8,025$6,440$5,132$4,065$1,635
21 years$9,352$7,475$5,923$4,657$3,638$1,383
22 years$8,833$6,978$5,459$4,235$3,261$1,171
23 years$8,360$6,526$5,041$3,857$2,927$992
24 years$7,926$6,115$4,662$3,517$2,631$841
25 years$7,528$5,738$4,318$3,212$2,368$714
26 years$7,161$5,393$4,004$2,937$2,133$606
27 years$6,822$5,076$3,718$2,688$1,923$514
28 years$6,508$4,783$3,457$2,463$1,735$437
29 years$6,216$4,512$3,217$2,259$1,567$371
30 years$5,944$4,261$2,996$2,073$1,416$315
31 years$5,690$4,028$2,793$1,904$1,280$268
32 years$5,452$3,811$2,606$1,750$1,158$228
33 years$5,229$3,609$2,434$1,609$1,048$194
34 years$5,020$3,421$2,274$1,480$949$165
35 years$4,823$3,245$2,126$1,363$859$140
36 years$4,638$3,080$1,989$1,255$778$119
37 years$4,463$2,925$1,861$1,156$706$101
38 years$4,297$2,780$1,743$1,066$640$86
39 years$4,140$2,643$1,633$983$580$73
40 years$3,992$2,515$1,531$907$526$62
41 years$3,851$2,394$1,435$836$477$53
42 years$3,718$2,280$1,346$772$433$45
43 years$3,590$2,172$1,263$713$393$39
44 years$3,469$2,071$1,186$658$357$33
45 years$3,354$1,975$1,113$608$324$28
46 years$3,244$1,884$1,046$561$294$24
47 years$3,139$1,798$983$519$267$20
48 years$3,039$1,716$923$479$243$17
49 years$2,943$1,639$868$443$220$15
50 years$2,851$1,565$816$409$200$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,920,000, adding $6,035 every year, while hoping to spend $44,905 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: 39/37/24 Blend
60$2,920,000$2,920,000$2,920,000$2,920,000
61$3,224,065$3,069,305$3,024,045$3,326,602
62$3,505,141$3,171,922$3,077,572$3,504,070
63$3,813,382$3,278,063$3,131,387$3,691,189
64$4,151,511$3,387,852$3,185,453$3,892,636
65$4,522,528$3,501,420$3,239,728$4,109,738
66$4,929,736$3,618,900$3,294,170$4,343,959
67$5,376,776$3,740,433$3,348,731$4,596,904
68$5,867,657$3,866,164$3,403,363$4,870,342
69$6,406,795$3,996,243$3,458,013$5,166,215
70$6,999,055$4,130,825$3,512,623$5,486,660
71$7,649,796$4,270,074$3,567,134$5,834,031
72$8,364,924$4,414,156$3,621,481$6,210,912
73$9,150,942$4,563,245$3,675,597$6,620,152
74$10,015,018$4,717,524$3,729,408$7,064,881
75$10,965,045$4,877,178$3,782,839$7,548,547
76$12,009,723$5,042,403$3,835,807$8,074,944
77$13,158,634$5,213,400$3,888,227$8,648,248
78$14,422,338$5,390,380$3,940,006$9,273,055
79$15,812,468$5,573,560$3,991,047$9,954,426
80$17,341,841$5,763,166$4,041,249$10,697,932
81$19,024,580$5,959,432$4,090,502$11,509,706
82$20,876,245$6,162,602$4,138,691$12,396,504
83$22,913,982$6,372,929$4,185,697$13,365,760
84$25,156,681$6,590,676$4,231,391$14,425,666
85$27,625,158$6,816,114$4,275,638$15,585,238
86$30,342,348$7,049,528$4,318,296$16,854,410
87$33,333,523$7,291,210$4,359,214$18,244,120
88$36,626,530$7,541,467$4,398,236$19,766,416
89$40,252,053$7,800,616$4,435,194$21,434,566
90$44,243,902$8,068,986$4,469,913$23,263,186
91$48,639,333$8,346,920$4,502,208$25,268,376
92$53,479,399$8,634,773$4,531,886$27,467,869
93$58,809,336$8,932,914$4,558,741$29,881,200
94$64,678,989$9,241,728$4,582,560$32,529,887
95$71,143,287$9,561,614$4,603,117$35,437,637
96$78,262,755$9,892,986$4,620,174$38,630,564
97$86,104,089$10,236,275$4,633,483$42,137,439
98$94,740,782$10,591,929$4,642,781$45,989,957
99$104,253,822$10,960,413$4,647,794$50,223,038
100$114,732,450$11,342,211$4,648,233$54,875,152