Can I retire at age 61 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$244,434$242,257$240,132$238,059$236,035$229,030
2 years$121,007$118,753$116,569$114,451$112,397$105,398
3 years$79,870$77,607$75,428$73,330$71,310$64,535
4 years$59,306$57,049$54,892$52,830$50,859$44,361
5 years$46,970$44,727$42,599$40,579$38,662$32,458
6 years$38,749$36,523$34,426$32,451$30,592$24,688
7 years$32,879$30,672$28,608$26,680$24,879$19,276
8 years$28,479$26,292$24,262$22,381$20,640$15,333
9 years$25,058$22,892$20,897$19,064$17,382$12,366
10 years$22,323$20,178$18,218$16,433$14,810$10,078
11 years$20,087$17,963$16,039$14,302$12,737$8,281
12 years$18,225$16,123$14,234$12,545$11,038$6,849
13 years$16,650$14,570$12,717$11,075$9,625$5,693
14 years$15,302$13,244$11,427$9,831$8,437$4,753
15 years$14,135$12,099$10,317$8,768$7,429$3,982
16 years$13,114$11,100$9,354$7,850$6,566$3,345
17 years$12,214$10,223$8,511$7,054$5,822$2,816
18 years$11,416$9,446$7,770$6,357$5,176$2,376
19 years$10,702$8,755$7,113$5,744$4,614$2,008
20 years$10,060$8,135$6,528$5,202$4,121$1,699
21 years$9,480$7,578$6,004$4,721$3,688$1,439
22 years$8,954$7,074$5,534$4,293$3,306$1,221
23 years$8,474$6,616$5,110$3,909$2,967$1,036
24 years$8,035$6,199$4,726$3,566$2,667$880
25 years$7,631$5,817$4,377$3,256$2,400$747
26 years$7,260$5,467$4,059$2,977$2,162$635
27 years$6,916$5,145$3,769$2,725$1,949$540
28 years$6,597$4,848$3,504$2,497$1,759$460
29 years$6,301$4,574$3,261$2,290$1,588$391
30 years$6,025$4,319$3,037$2,101$1,435$333
31 years$5,768$4,083$2,832$1,930$1,297$284
32 years$5,527$3,864$2,642$1,774$1,173$242
33 years$5,301$3,659$2,467$1,631$1,062$206
34 years$5,089$3,468$2,305$1,501$962$175
35 years$4,889$3,289$2,155$1,382$871$149
36 years$4,701$3,122$2,016$1,272$789$127
37 years$4,524$2,965$1,887$1,172$715$108
38 years$4,356$2,818$1,767$1,081$648$92
39 years$4,197$2,680$1,655$996$588$79
40 years$4,047$2,549$1,552$919$533$67
41 years$3,904$2,427$1,455$848$484$57
42 years$3,769$2,311$1,365$782$439$49
43 years$3,640$2,202$1,281$722$398$42
44 years$3,517$2,099$1,202$667$362$35
45 years$3,400$2,002$1,129$616$328$30
46 years$3,288$1,909$1,060$569$298$26
47 years$3,182$1,822$996$526$271$22
48 years$3,080$1,740$936$486$246$19
49 years$2,983$1,661$880$449$223$16
50 years$2,890$1,587$827$415$203$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,960,000, adding $4,075 every year, while hoping to spend $59,427 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: 54/31/15 Blend
60$2,960,000$2,960,000$2,960,000$2,960,000
61$3,266,123$3,109,243$3,063,363$3,429,281
62$3,536,038$3,198,366$3,102,756$3,630,068
63$3,831,492$3,289,865$3,141,477$3,841,794
64$4,155,028$3,383,792$3,179,440$4,070,908
65$4,509,446$3,480,203$3,216,556$4,319,080
66$4,897,828$3,579,151$3,252,730$4,588,148
67$5,323,571$3,680,694$3,287,860$4,880,135
68$5,790,413$3,784,886$3,321,841$5,197,269
69$6,302,474$3,891,784$3,354,562$5,542,002
70$6,864,291$4,001,446$3,385,904$5,917,034
71$7,480,860$4,113,929$3,415,744$6,325,338
72$8,157,687$4,229,290$3,443,950$6,770,189
73$8,900,834$4,347,588$3,470,385$7,255,193
74$9,716,980$4,468,881$3,494,904$7,784,321
75$10,613,483$4,593,227$3,517,355$8,361,946
76$11,598,449$4,720,686$3,537,577$8,992,887
77$12,680,807$4,851,315$3,555,402$9,682,451
78$13,870,394$4,985,174$3,570,652$10,436,483
79$15,178,047$5,122,321$3,583,142$11,261,422
80$16,615,706$5,262,813$3,592,675$12,164,363
81$18,196,526$5,406,708$3,599,048$13,153,121
82$19,934,998$5,554,064$3,602,043$14,236,304
83$21,847,092$5,704,937$3,601,435$15,423,400
84$23,950,399$5,859,382$3,596,987$16,724,858
85$26,264,302$6,017,455$3,588,448$18,152,192
86$28,810,159$6,179,209$3,575,560$19,718,090
87$31,611,501$6,344,695$3,558,046$21,436,527
88$34,694,255$6,513,966$3,535,622$23,322,907
89$38,086,989$6,687,070$3,507,985$25,394,198
90$41,821,180$6,864,055$3,474,821$27,669,099
91$45,931,512$7,044,965$3,435,799$30,168,214
92$50,456,202$7,229,844$3,390,574$32,914,245
93$55,437,360$7,418,732$3,338,784$35,932,208
94$60,921,387$7,611,666$3,280,049$39,249,670
95$66,959,411$7,808,681$3,213,973$42,897,006
96$73,607,771$8,009,806$3,140,142$46,907,688
97$80,928,547$8,215,070$3,058,120$51,318,600
98$88,990,144$8,424,494$2,967,452$56,170,386
99$97,867,942$8,638,097$2,867,664$61,507,836
100$107,644,999$8,855,891$2,758,259$67,380,304