Can I retire at age 61 with 3,400,000?

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 $3,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$280,769$278,268$275,828$273,446$271,121$269,638
2 years$138,994$136,406$133,897$131,465$129,105$127,609
3 years$91,743$89,143$86,640$84,231$81,910$80,447
4 years$68,121$65,529$63,052$60,683$58,419$57,000
5 years$53,952$51,376$48,931$46,611$44,409$43,038
6 years$44,509$41,952$39,543$37,275$35,139$33,819
7 years$37,767$35,231$32,861$30,646$28,578$27,308
8 years$32,712$30,200$27,869$25,708$23,708$22,489
9 years$28,783$26,294$24,003$21,897$19,965$18,797
10 years$25,642$23,177$20,926$18,876$17,012$15,893
11 years$23,073$20,633$18,423$16,428$14,631$13,562
12 years$20,934$18,519$16,350$14,409$12,679$11,658
13 years$19,126$16,736$14,608$12,721$11,056$10,083
14 years$17,577$15,213$13,125$11,292$9,692$8,764
15 years$16,236$13,897$11,850$10,071$8,533$7,651
16 years$15,063$12,750$10,744$9,017$7,542$6,703
17 years$14,030$11,742$9,777$8,102$6,687$5,891
18 years$13,112$10,851$8,925$7,302$5,946$5,191
19 years$12,293$10,056$8,170$6,598$5,300$4,585
20 years$11,556$9,345$7,498$5,975$4,734$4,057
21 years$10,890$8,704$6,897$5,423$4,236$3,597
22 years$10,285$8,125$6,357$4,931$3,797$3,193
23 years$9,734$7,599$5,869$4,491$3,408$2,839
24 years$9,229$7,120$5,428$4,096$3,064$2,527
25 years$8,766$6,682$5,027$3,740$2,757$2,251
26 years$8,339$6,280$4,663$3,420$2,483$2,008
27 years$7,944$5,910$4,330$3,130$2,239$1,792
28 years$7,578$5,569$4,025$2,868$2,020$1,600
29 years$7,238$5,254$3,746$2,630$1,824$1,430
30 years$6,921$4,962$3,489$2,414$1,648$1,279
31 years$6,625$4,690$3,253$2,217$1,490$1,144
32 years$6,348$4,438$3,035$2,037$1,348$1,024
33 years$6,089$4,203$2,834$1,874$1,220$917
34 years$5,845$3,983$2,648$1,724$1,104$821
35 years$5,616$3,778$2,475$1,587$1,000$736
36 years$5,400$3,586$2,316$1,461$906$660
37 years$5,196$3,406$2,167$1,347$821$591
38 years$5,003$3,237$2,030$1,241$745$530
39 years$4,821$3,078$1,901$1,144$675$476
40 years$4,648$2,928$1,782$1,056$613$427
41 years$4,484$2,788$1,671$974$556$383
42 years$4,329$2,655$1,568$899$504$344
43 years$4,181$2,529$1,471$830$458$308
44 years$4,040$2,411$1,381$766$415$277
45 years$3,905$2,299$1,297$707$377$248
46 years$3,777$2,193$1,218$654$342$223
47 years$3,655$2,093$1,144$604$311$200
48 years$3,538$1,998$1,075$558$282$180
49 years$3,426$1,908$1,011$516$256$161
50 years$3,320$1,823$950$477$233$145

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $3,400,000, adding $3,015 every year, while hoping to spend $20,006 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: 30/47/23 Blend
60$3,400,000$3,400,000$3,400,000$3,400,000
61$3,749,910$3,569,710$3,517,010$3,835,514
62$4,111,115$3,723,340$3,613,544$4,055,116
63$4,508,492$3,883,826$3,712,641$4,289,210
64$4,945,709$4,051,486$3,814,366$4,540,638
65$5,426,810$4,226,647$3,918,785$4,810,915
66$5,956,247$4,409,654$4,025,967$5,101,698
67$6,538,927$4,600,871$4,135,980$5,414,804
68$7,180,258$4,800,674$4,248,895$5,752,226
69$7,886,197$5,009,459$4,364,786$6,116,144
70$8,663,308$5,227,642$4,483,726$6,508,951
71$9,518,826$5,455,657$4,605,791$6,933,272
72$10,460,720$5,693,958$4,731,058$7,391,983
73$11,497,773$5,943,021$4,859,608$7,888,241
74$12,639,662$6,203,345$4,991,521$8,425,511
75$13,897,051$6,475,453$5,126,881$9,007,597
76$15,281,690$6,759,890$5,265,771$9,638,671
77$16,806,527$7,057,230$5,408,280$10,323,318
78$18,485,830$7,368,071$5,554,494$11,066,571
79$20,335,321$7,693,042$5,704,505$11,873,959
80$22,372,323$8,032,801$5,858,406$12,751,556
81$24,615,928$8,388,036$6,016,291$13,706,035
82$27,087,172$8,759,470$6,178,256$14,744,730
83$29,809,236$9,147,856$6,344,400$15,875,701
84$32,807,665$9,553,987$6,514,824$17,107,806
85$36,110,606$9,978,693$6,689,630$18,450,784
86$39,749,080$10,422,840$6,868,924$19,915,345
87$43,757,266$10,887,339$7,052,813$21,513,261
88$48,172,831$11,373,143$7,241,407$23,257,482
89$53,037,282$11,881,249$7,434,816$25,162,247
90$58,396,358$12,412,704$7,633,156$27,243,222
91$64,300,462$12,968,602$7,836,542$29,517,637
92$70,805,136$13,550,090$8,045,093$32,004,448
93$77,971,587$14,158,372$8,258,931$34,724,513
94$85,867,262$14,794,705$8,478,178$37,700,778
95$94,566,488$15,460,410$8,702,961$40,958,497
96$104,151,168$16,156,869$8,933,409$44,525,461
97$114,711,560$16,885,529$9,169,652$48,432,252
98$126,347,128$17,647,908$9,411,824$52,712,534
99$139,167,476$18,445,596$9,660,060$57,403,357
100$153,293,386$19,280,258$9,914,500$62,545,508