Can I retire at age 61 with 3,000,000?

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 $3,000,000?

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$247,737$245,530$243,378$241,276$239,224$230,828
2 years$122,642$120,358$118,144$115,998$113,916$105,546
3 years$80,949$78,655$76,447$74,321$72,273$64,191
4 years$60,107$57,820$55,634$53,544$51,546$43,814
5 years$47,605$45,332$43,174$41,127$39,184$31,823
6 years$39,273$37,017$34,891$32,890$31,005$24,019
7 years$33,324$31,087$28,995$27,040$25,216$18,605
8 years$28,864$26,647$24,590$22,684$20,919$14,677
9 years$25,397$23,201$21,179$19,321$17,617$11,736
10 years$22,625$20,450$18,465$16,655$15,010$9,481
11 years$20,359$18,206$16,256$14,495$12,909$7,720
12 years$18,471$16,341$14,427$12,714$11,187$6,326
13 years$16,875$14,767$12,889$11,225$9,755$5,209
14 years$15,509$13,423$11,581$9,964$8,551$4,306
15 years$14,326$12,262$10,456$8,886$7,529$3,572
16 years$13,291$11,250$9,480$7,957$6,654$2,970
17 years$12,379$10,361$8,626$7,149$5,900$2,476
18 years$11,570$9,574$7,875$6,443$5,246$2,067
19 years$10,846$8,873$7,209$5,821$4,676$1,728
20 years$10,196$8,245$6,616$5,272$4,177$1,447
21 years$9,608$7,680$6,086$4,785$3,738$1,213
22 years$9,075$7,169$5,609$4,351$3,350$1,017
23 years$8,589$6,705$5,179$3,962$3,007$854
24 years$8,143$6,282$4,789$3,614$2,703$717
25 years$7,734$5,896$4,436$3,300$2,432$602
26 years$7,358$5,541$4,114$3,018$2,191$506
27 years$7,009$5,215$3,820$2,762$1,975$426
28 years$6,686$4,914$3,551$2,531$1,782$358
29 years$6,386$4,636$3,305$2,321$1,610$301
30 years$6,107$4,378$3,078$2,130$1,454$254
31 years$5,846$4,139$2,870$1,956$1,315$213
32 years$5,601$3,916$2,678$1,798$1,189$180
33 years$5,373$3,708$2,500$1,653$1,076$151
34 years$5,158$3,515$2,336$1,521$975$127
35 years$4,955$3,334$2,184$1,400$883$107
36 years$4,765$3,164$2,043$1,290$800$90
37 years$4,585$3,005$1,912$1,188$725$76
38 years$4,415$2,856$1,791$1,095$657$64
39 years$4,254$2,716$1,678$1,010$596$54
40 years$4,101$2,584$1,573$931$541$45
41 years$3,957$2,460$1,475$859$490$38
42 years$3,819$2,342$1,383$793$445$32
43 years$3,689$2,232$1,298$732$404$27
44 years$3,564$2,127$1,218$676$367$23
45 years$3,446$2,029$1,144$624$333$19
46 years$3,333$1,935$1,074$577$302$16
47 years$3,225$1,847$1,009$533$274$14
48 years$3,122$1,763$949$492$249$12
49 years$3,023$1,684$892$455$226$10
50 years$2,929$1,608$838$421$206$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $3,000,000, adding $3,428 every year, while hoping to spend $43,308 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: 49/24/27 Blend
60$3,000,000$3,000,000$3,000,000$3,000,000
61$3,309,536$3,150,536$3,104,036$3,446,178
62$3,601,029$3,258,833$3,161,942$3,650,513
63$3,920,803$3,370,985$3,220,336$3,867,818
64$4,271,697$3,487,135$3,279,189$4,103,064
65$4,656,838$3,607,432$3,338,469$4,357,969
66$5,079,670$3,732,031$3,398,143$4,634,423
67$5,543,987$3,861,092$3,458,172$4,934,505
68$6,053,970$3,994,781$3,518,517$5,260,502
69$6,614,223$4,133,274$3,579,135$5,614,934
70$7,229,819$4,276,748$3,639,981$6,000,570
71$7,906,344$4,425,393$3,701,004$6,420,463
72$8,649,957$4,579,403$3,762,153$6,877,972
73$9,467,439$4,738,980$3,823,371$7,376,794
74$10,366,262$4,904,334$3,884,599$7,920,999
75$11,354,659$5,075,685$3,945,771$8,515,072
76$12,441,700$5,253,260$4,006,821$9,163,949
77$13,637,379$5,437,295$4,067,675$9,873,064
78$14,952,706$5,628,037$4,128,256$10,648,404
79$16,399,812$5,825,741$4,188,483$11,496,561
80$17,992,064$6,030,673$4,248,268$12,424,795
81$19,744,189$6,243,110$4,307,519$13,441,104
82$21,672,414$6,463,340$4,366,139$14,554,295
83$23,794,619$6,691,663$4,424,023$15,774,069
84$26,130,505$6,928,389$4,481,063$17,111,112
85$28,701,779$7,173,843$4,537,141$18,577,196
86$31,532,361$7,428,362$4,592,136$20,185,288
87$34,648,607$7,692,297$4,645,918$21,949,670
88$38,079,559$7,966,013$4,698,350$23,886,080
89$41,857,217$8,249,890$4,749,287$26,011,853
90$46,016,842$8,544,324$4,798,578$28,346,085
91$50,597,290$8,849,726$4,846,060$30,909,818
92$55,641,376$9,166,525$4,891,565$33,726,232
93$61,196,278$9,495,167$4,934,914$36,820,863
94$67,313,983$9,836,115$4,975,920$40,221,850
95$74,051,779$10,189,854$5,014,382$43,960,193
96$81,472,791$10,556,887$5,050,094$48,070,046
97$89,646,579$10,937,739$5,082,836$52,589,043
98$98,649,797$11,332,954$5,112,377$57,558,647
99$108,566,909$11,743,101$5,138,475$63,024,544
100$119,490,993$12,168,774$5,160,874$69,037,073