Can I retire at age 61 with 6,300,000?

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 $6,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$520,248$515,614$511,093$506,680$502,371$485,319
2 years$257,549$252,752$248,103$243,596$239,224$222,216
3 years$169,994$165,176$160,539$156,074$151,774$135,343
4 years$126,225$121,422$116,831$112,443$108,246$92,518
5 years$99,970$95,196$90,666$86,367$82,287$67,304
6 years$82,473$77,735$73,272$69,068$65,111$50,885
7 years$69,980$65,282$60,889$56,785$52,953$39,481
8 years$60,614$55,958$51,639$47,635$43,929$31,201
9 years$53,333$48,722$44,476$40,575$36,995$24,995
10 years$47,512$42,946$38,776$34,976$31,521$20,231
11 years$42,753$38,232$34,137$30,439$27,110$16,506
12 years$38,789$34,315$30,296$26,700$23,493$13,551
13 years$35,438$31,011$27,068$23,572$20,486$11,182
14 years$32,569$28,188$24,320$20,924$17,958$9,264
15 years$30,084$25,750$21,958$18,661$15,812$7,700
16 years$27,911$23,625$19,908$16,709$13,974$6,417
17 years$25,997$21,758$18,116$15,013$12,391$5,360
18 years$24,297$20,106$16,537$13,529$11,017$4,485
19 years$22,777$18,634$15,139$12,225$9,820$3,759
20 years$21,412$17,315$13,894$11,072$8,771$3,154
21 years$20,178$16,128$12,780$10,049$7,849$2,649
22 years$19,057$15,055$11,778$9,136$7,036$2,227
23 years$18,036$14,081$10,875$8,321$6,316$1,874
24 years$17,101$13,193$10,058$7,589$5,677$1,578
25 years$16,242$12,381$9,316$6,931$5,108$1,329
26 years$15,451$11,636$8,640$6,337$4,601$1,120
27 years$14,719$10,951$8,023$5,801$4,148$944
28 years$14,041$10,319$7,458$5,315$3,743$796
29 years$13,411$9,735$6,940$4,874$3,380$671
30 years$12,824$9,193$6,465$4,473$3,054$566
31 years$12,276$8,691$6,027$4,108$2,761$478
32 years$11,763$8,223$5,623$3,775$2,498$403
33 years$11,282$7,788$5,250$3,472$2,260$340
34 years$10,831$7,381$4,906$3,194$2,047$287
35 years$10,406$7,001$4,586$2,940$1,854$243
36 years$10,006$6,645$4,291$2,708$1,679$205
37 years$9,628$6,311$4,016$2,495$1,522$173
38 years$9,271$5,998$3,761$2,300$1,380$146
39 years$8,933$5,703$3,523$2,121$1,251$123
40 years$8,613$5,426$3,302$1,956$1,135$104
41 years$8,309$5,165$3,097$1,805$1,030$88
42 years$8,021$4,919$2,905$1,665$934$74
43 years$7,746$4,687$2,726$1,537$848$63
44 years$7,485$4,468$2,559$1,419$770$53
45 years$7,236$4,260$2,402$1,311$699$45
46 years$6,999$4,064$2,256$1,211$634$38
47 years$6,773$3,878$2,120$1,119$576$32
48 years$6,556$3,702$1,992$1,034$523$27
49 years$6,349$3,536$1,872$955$475$23
50 years$6,151$3,377$1,760$883$432$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $6,300,000, adding $3,080 every year, while hoping to spend $23,069 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: 48/32/20 Blend
60$6,300,000$6,300,000$6,300,000$6,300,000
61$6,945,777$6,611,877$6,514,227$7,239,777
62$7,629,701$6,911,314$6,707,908$7,744,072
63$8,382,612$7,224,650$6,907,305$8,288,783
64$9,211,523$7,552,542$7,112,584$8,879,798
65$10,124,159$7,895,678$7,323,917$9,521,472
66$11,129,036$8,254,779$7,541,481$10,218,586
67$12,235,536$8,630,600$7,765,458$10,976,394
68$13,453,995$9,023,934$7,996,035$11,800,669
69$14,795,806$9,435,611$8,233,406$12,697,756
70$16,273,521$9,866,498$8,477,768$13,674,626
71$17,900,972$10,317,508$8,729,325$14,738,946
72$19,693,401$10,789,596$8,988,287$15,899,139
73$21,667,603$11,283,762$9,254,870$17,164,473
74$23,842,086$11,801,054$9,529,296$18,545,134
75$26,237,245$12,342,572$9,811,793$20,052,326
76$28,875,553$12,909,466$10,102,597$21,698,372
77$31,781,775$13,502,946$10,401,950$23,496,828
78$34,983,200$14,124,274$10,710,099$25,462,604
79$38,509,901$14,774,778$11,027,302$27,612,105
80$42,395,015$15,455,847$11,353,821$29,963,381
81$46,675,060$16,168,936$11,689,927$32,536,292
82$51,390,275$16,915,573$12,035,899$35,352,696
83$56,585,005$17,697,358$12,392,023$38,436,643
84$62,308,114$18,515,967$12,758,595$41,814,606
85$68,613,451$19,373,159$13,135,917$45,515,720
86$75,560,354$20,270,775$13,524,301$49,572,057
87$83,214,213$21,210,746$13,924,069$54,018,921
88$91,647,088$22,195,097$14,335,550$58,895,174
89$100,938,384$23,225,950$14,759,084$64,243,603
90$111,175,606$24,305,529$15,195,020$70,111,312
91$122,455,182$25,436,164$15,643,717$76,550,165
92$134,883,374$26,620,299$16,105,545$83,617,268
93$148,577,281$27,860,497$16,580,884$91,375,499
94$163,665,945$29,159,443$17,070,125$99,894,099
95$180,291,566$30,519,950$17,573,669$109,249,314
96$198,610,850$31,944,971$18,091,930$119,525,111
97$218,796,480$33,437,599$18,625,334$130,813,961
98$241,038,756$35,001,076$19,174,318$143,217,701
99$265,547,383$36,638,802$19,739,331$156,848,493
100$292,553,453$38,354,341$20,320,836$171,829,867