Can I retire at age 61 with 4,800,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $4,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$396,380$392,849$389,404$386,042$382,759$379,077
2 years$196,227$192,573$189,031$185,597$182,266$178,557
3 years$129,519$125,849$122,316$118,914$115,637$112,016
4 years$96,171$92,512$89,014$85,671$82,473$78,968
5 years$76,168$72,531$69,079$65,803$62,695$59,316
6 years$62,836$59,227$55,826$52,623$49,608$46,360
7 years$53,318$49,738$46,392$43,265$40,345$37,228
8 years$46,182$42,635$39,344$36,294$33,470$30,484
9 years$40,635$37,121$33,887$30,914$28,187$25,332
10 years$36,200$32,721$29,543$26,648$24,016$21,290
11 years$32,574$29,129$26,009$23,192$20,655$18,055
12 years$29,554$26,145$23,083$20,342$17,899$15,424
13 years$27,001$23,627$20,623$17,959$15,608$13,254
14 years$24,814$21,477$18,530$15,942$13,682$11,446
15 years$22,921$19,619$16,730$14,218$12,047$9,925
16 years$21,266$18,000$15,168$12,730$10,647$8,637
17 years$19,807$16,578$13,802$11,438$9,440$7,538
18 years$18,512$15,318$12,600$10,308$8,394$6,596
19 years$17,354$14,197$11,534$9,314$7,482$5,784
20 years$16,314$13,193$10,586$8,436$6,683$5,081
21 years$15,373$12,288$9,737$7,656$5,980$4,471
22 years$14,520$11,471$8,974$6,961$5,361$3,940
23 years$13,742$10,728$8,286$6,340$4,812$3,476
24 years$13,029$10,052$7,663$5,782$4,325$3,071
25 years$12,375$9,433$7,098$5,281$3,892$2,715
26 years$11,772$8,866$6,583$4,828$3,506$2,402
27 years$11,215$8,344$6,113$4,419$3,161$2,127
28 years$10,698$7,862$5,682$4,049$2,852$1,885
29 years$10,218$7,417$5,288$3,713$2,575$1,671
30 years$9,771$7,005$4,926$3,408$2,327$1,482
31 years$9,353$6,622$4,592$3,130$2,104$1,315
32 years$8,962$6,265$4,284$2,876$1,903$1,167
33 years$8,596$5,933$4,000$2,645$1,722$1,037
34 years$8,252$5,624$3,738$2,434$1,559$921
35 years$7,928$5,334$3,494$2,240$1,412$818
36 years$7,624$5,063$3,269$2,063$1,280$727
37 years$7,336$4,808$3,060$1,901$1,160$646
38 years$7,064$4,570$2,865$1,752$1,051$575
39 years$6,806$4,345$2,684$1,616$953$511
40 years$6,562$4,134$2,516$1,490$865$455
41 years$6,331$3,935$2,359$1,375$785$404
42 years$6,111$3,748$2,213$1,269$712$360
43 years$5,902$3,571$2,077$1,171$646$320
44 years$5,703$3,404$1,949$1,082$586$285
45 years$5,513$3,246$1,830$999$532$253
46 years$5,333$3,096$1,719$923$483$226
47 years$5,160$2,955$1,615$852$439$201
48 years$4,995$2,821$1,518$788$399$179
49 years$4,837$2,694$1,427$728$362$159
50 years$4,686$2,573$1,341$673$329$142

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $4,800,000, adding $2,619 every year, while hoping to spend $36,990 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: 30/41/29 Blend
60$4,800,000$4,800,000$4,800,000$4,800,000
61$5,292,301$5,037,901$4,963,501$5,403,859
62$5,792,759$5,245,402$5,090,422$5,699,134
63$6,343,024$5,461,829$5,220,354$6,013,153
64$6,948,137$5,687,583$5,353,360$6,350,239
65$7,613,652$5,923,080$5,489,503$6,712,427
66$8,345,689$6,168,756$5,628,846$7,101,946
67$9,150,990$6,425,066$5,771,454$7,521,242
68$10,036,985$6,692,488$5,917,391$7,972,994
69$11,011,858$6,971,520$6,066,724$8,460,143
70$12,084,627$7,262,684$6,219,519$8,985,915
71$13,265,230$7,566,527$6,375,843$9,553,851
72$14,564,615$7,883,619$6,535,766$10,167,836
73$15,994,847$8,214,557$6,699,356$10,832,137
74$17,569,220$8,559,968$6,866,682$11,551,438
75$19,302,379$8,920,506$7,037,815$12,330,883
76$21,210,465$9,296,854$7,212,825$13,176,126
77$23,311,262$9,689,730$7,391,785$14,093,374
78$25,624,367$10,099,882$7,574,765$15,089,450
79$28,171,372$10,528,096$7,761,839$16,171,852
80$30,976,070$10,975,191$7,953,080$17,348,821
81$34,064,682$11,442,028$8,148,560$18,629,417
82$37,466,097$11,929,505$8,348,354$20,023,600
83$41,212,151$12,438,563$8,552,536$21,542,322
84$45,337,925$12,970,187$8,761,181$23,197,626
85$49,882,075$13,525,408$8,974,362$25,002,759
86$54,887,198$14,105,304$9,192,155$26,972,289
87$60,400,234$14,711,006$9,414,634$29,122,243
88$66,472,908$15,343,695$9,641,874$31,470,252
89$73,162,217$16,004,609$9,873,950$34,035,715
90$80,530,973$16,695,044$10,110,936$36,839,976
91$88,648,386$17,416,356$10,352,907$39,906,522
92$97,590,729$18,169,964$10,599,936$43,261,203
93$107,442,047$18,957,356$10,852,098$46,932,464
94$118,294,957$19,780,088$11,109,464$50,951,617
95$130,251,519$20,639,789$11,372,108$55,353,126
96$143,424,200$21,538,165$11,640,100$60,174,926
97$157,936,936$22,477,003$11,913,511$65,458,782
98$173,926,301$23,458,173$12,192,411$71,250,670
99$191,542,794$24,483,634$12,476,867$77,601,208
100$210,952,264$25,555,437$12,766,947$84,566,127