Can I retire at age 61 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$246,911$244,712$242,566$240,472$238,427$231,258
2 years$122,233$119,957$117,751$115,611$113,537$106,374
3 years$80,679$78,393$76,192$74,073$72,032$65,101
4 years$59,907$57,627$55,449$53,366$51,374$44,727
5 years$47,446$45,180$43,030$40,990$39,054$32,710
6 years$39,142$36,893$34,775$32,780$30,902$24,866
7 years$33,213$30,983$28,898$26,950$25,131$19,403
8 years$28,768$26,558$24,508$22,608$20,849$15,425
9 years$25,312$23,124$21,109$19,257$17,558$12,433
10 years$22,550$20,382$18,403$16,600$14,960$10,126
11 years$20,291$18,145$16,202$14,447$12,866$8,315
12 years$18,410$16,286$14,379$12,672$11,150$6,872
13 years$16,819$14,718$12,846$11,187$9,723$5,709
14 years$15,457$13,378$11,542$9,931$8,523$4,763
15 years$14,278$12,221$10,421$8,856$7,504$3,987
16 years$13,247$11,213$9,448$7,930$6,632$3,347
17 years$12,338$10,326$8,598$7,125$5,881$2,816
18 years$11,531$9,542$7,849$6,421$5,229$2,374
19 years$10,810$8,844$7,185$5,802$4,660$2,005
20 years$10,162$8,218$6,594$5,255$4,163$1,695
21 years$9,576$7,655$6,065$4,769$3,725$1,435
22 years$9,045$7,145$5,590$4,336$3,339$1,216
23 years$8,560$6,683$5,161$3,949$2,997$1,031
24 years$8,116$6,261$4,773$3,602$2,694$875
25 years$7,709$5,876$4,421$3,289$2,424$743
26 years$7,333$5,523$4,100$3,008$2,184$631
27 years$6,986$5,197$3,808$2,753$1,969$536
28 years$6,664$4,897$3,540$2,522$1,777$456
29 years$6,365$4,620$3,294$2,313$1,604$388
30 years$6,086$4,363$3,068$2,123$1,449$330
31 years$5,826$4,125$2,860$1,950$1,310$281
32 years$5,583$3,903$2,669$1,792$1,185$239
33 years$5,355$3,696$2,492$1,648$1,073$203
34 years$5,140$3,503$2,328$1,516$971$173
35 years$4,939$3,323$2,177$1,396$880$147
36 years$4,749$3,154$2,036$1,285$797$125
37 years$4,570$2,995$1,906$1,184$722$107
38 years$4,400$2,846$1,785$1,091$655$91
39 years$4,240$2,707$1,672$1,006$594$77
40 years$4,088$2,575$1,567$928$539$66
41 years$3,944$2,451$1,470$856$489$56
42 years$3,807$2,335$1,379$790$443$48
43 years$3,676$2,224$1,294$730$402$41
44 years$3,553$2,120$1,214$674$365$35
45 years$3,434$2,022$1,140$622$332$30
46 years$3,322$1,929$1,071$575$301$25
47 years$3,214$1,841$1,006$531$273$21
48 years$3,112$1,757$945$491$248$18
49 years$3,013$1,678$889$453$226$16
50 years$2,919$1,603$835$419$205$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,990,000, adding $6,506 every year, while hoping to spend $26,740 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: 33/39/28 Blend
60$2,990,000$2,990,000$2,990,000$2,990,000
61$3,301,691$3,143,221$3,096,876$3,382,373
62$3,610,012$3,268,788$3,172,170$3,569,842
63$3,948,886$3,399,611$3,249,090$3,768,912
64$4,321,401$3,535,920$3,327,663$3,982,941
65$4,730,958$3,677,955$3,407,915$4,213,271
66$5,181,307$3,825,965$3,489,871$4,461,375
67$5,676,577$3,980,214$3,573,558$4,728,870
68$6,221,318$4,140,975$3,659,002$5,017,530
69$6,820,542$4,308,533$3,746,229$5,329,303
70$7,479,775$4,483,188$3,835,264$5,666,327
71$8,205,100$4,665,252$3,926,134$6,030,950
72$9,003,224$4,855,053$4,018,863$6,425,753
73$9,881,534$5,052,932$4,113,476$6,853,569
74$10,848,171$5,259,247$4,209,999$7,317,511
75$11,912,105$5,474,370$4,308,454$7,821,003
76$13,083,219$5,698,694$4,408,867$8,367,804
77$14,372,403$5,932,626$4,511,260$8,962,049
78$15,791,657$6,176,593$4,615,656$9,608,283
79$17,354,203$6,431,043$4,722,077$10,311,504
80$19,074,610$6,696,442$4,830,545$11,077,207
81$20,968,932$6,973,280$4,941,080$11,911,438
82$23,054,860$7,262,067$5,053,703$12,820,843
83$25,351,885$7,563,339$5,168,432$13,812,736
84$27,881,489$7,877,653$5,285,285$14,895,163
85$30,667,339$8,205,596$5,404,280$16,076,975
86$33,735,516$8,547,779$5,525,433$17,367,912
87$37,114,761$8,904,843$5,648,757$18,778,691
88$40,836,743$9,277,457$5,774,267$20,321,108
89$44,936,360$9,666,321$5,901,974$22,008,144
90$49,452,068$10,072,170$6,031,889$23,854,086
91$54,426,242$10,495,769$6,164,020$25,874,662
92$59,905,578$10,937,922$6,298,375$28,087,183
93$65,941,534$11,399,467$6,434,958$30,510,707
94$72,590,814$11,881,285$6,573,772$33,166,216
95$79,915,903$12,384,293$6,714,819$36,076,811
96$87,985,657$12,909,455$6,858,097$39,267,923
97$96,875,953$13,457,778$7,003,603$42,767,559
98$106,670,406$14,030,314$7,151,329$46,606,554
99$117,461,155$14,628,168$7,301,267$50,818,865
100$129,349,738$15,252,493$7,453,404$55,441,885