Can I retire at age 61 with 8,200,000?

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 $8,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$677,148$671,117$665,232$659,488$653,880$637,038
2 years$335,222$328,979$322,928$317,062$311,371$294,516
3 years$221,261$214,991$208,956$203,144$197,547$181,205
4 years$164,292$158,041$152,066$146,354$140,892$125,189
5 years$130,120$123,906$118,010$112,414$107,104$92,084
6 years$107,345$101,179$95,369$89,898$84,748$70,425
7 years$91,085$84,970$79,252$73,910$68,922$55,298
8 years$78,894$72,835$67,212$62,002$57,178$44,245
9 years$69,418$63,416$57,890$52,812$48,152$35,900
10 years$61,842$55,898$50,470$45,524$41,028$29,442
11 years$55,647$49,763$44,433$39,620$35,285$24,348
12 years$50,488$44,664$39,433$34,752$30,578$20,269
13 years$46,126$40,363$35,231$30,681$26,664$16,964
14 years$42,391$36,689$31,655$27,235$23,374$14,260
15 years$39,156$33,516$28,580$24,289$20,580$12,030
16 years$36,329$30,751$25,912$21,748$18,189$10,179
17 years$33,837$28,320$23,579$19,540$16,127$8,633
18 years$31,624$26,169$21,525$17,610$14,340$7,338
19 years$29,647$24,253$19,705$15,912$12,781$6,248
20 years$27,869$22,537$18,084$14,411$11,416$5,327
21 years$26,263$20,993$16,634$13,079$10,216$4,548
22 years$24,805$19,596$15,331$11,892$9,158$3,886
23 years$23,475$18,328$14,155$10,830$8,220$3,324
24 years$22,259$17,172$13,091$9,878$7,389$2,846
25 years$21,141$16,115$12,125$9,021$6,649$2,437
26 years$20,111$15,145$11,245$8,248$5,989$2,089
27 years$19,159$14,254$10,442$7,550$5,400$1,791
28 years$18,276$13,431$9,707$6,917$4,872$1,536
29 years$17,456$12,671$9,034$6,343$4,399$1,318
30 years$16,692$11,966$8,414$5,822$3,975$1,132
31 years$15,978$11,312$7,845$5,347$3,594$971
32 years$15,311$10,703$7,319$4,914$3,251$834
33 years$14,685$10,136$6,834$4,519$2,942$716
34 years$14,097$9,607$6,385$4,157$2,664$615
35 years$13,544$9,112$5,970$3,827$2,413$529
36 years$13,023$8,649$5,585$3,525$2,186$454
37 years$12,532$8,214$5,227$3,248$1,981$390
38 years$12,067$7,806$4,895$2,993$1,796$336
39 years$11,627$7,423$4,586$2,760$1,629$288
40 years$11,211$7,062$4,298$2,546$1,477$248
41 years$10,815$6,723$4,031$2,349$1,340$213
42 years$10,440$6,403$3,781$2,168$1,216$183
43 years$10,083$6,100$3,548$2,001$1,104$157
44 years$9,743$5,815$3,330$1,848$1,002$135
45 years$9,419$5,545$3,127$1,706$910$116
46 years$9,110$5,290$2,937$1,576$826$100
47 years$8,815$5,048$2,759$1,456$750$86
48 years$8,533$4,819$2,593$1,346$681$74
49 years$8,264$4,602$2,437$1,244$619$64
50 years$8,006$4,396$2,291$1,149$562$55

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $8,200,000, adding $6,646 every year, while hoping to spend $45,575 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: 57/34/9 Blend
60$8,200,000$8,200,000$8,200,000$8,200,000
61$9,043,255$8,608,655$8,481,555$9,539,172
62$9,917,176$8,981,988$8,717,196$10,247,494
63$10,878,709$9,372,086$8,959,203$11,013,233
64$11,936,743$9,779,724$9,207,742$11,846,455
65$13,101,071$10,205,711$9,462,982$12,753,616
66$14,382,484$10,650,895$9,725,095$13,741,813
67$15,792,872$11,116,163$9,994,261$14,818,848
68$17,345,336$11,602,446$10,270,659$15,993,298
69$19,054,311$12,110,717$10,554,477$17,274,596
70$20,935,704$12,641,995$10,845,905$18,673,115
71$23,007,041$13,197,348$11,145,139$20,200,262
72$25,287,635$13,777,895$11,452,377$21,868,588
73$27,798,768$14,384,805$11,767,825$23,691,894
74$30,563,887$15,019,305$12,091,692$25,685,369
75$33,608,832$15,682,680$12,424,192$27,865,720
76$36,962,075$16,376,274$12,765,546$30,251,332
77$40,654,992$17,101,496$13,115,976$32,862,437
78$44,722,153$17,859,821$13,475,714$35,721,299
79$49,201,656$18,652,796$13,844,993$38,852,420
80$54,135,481$19,482,039$14,224,056$42,282,770
81$59,569,886$20,349,245$14,613,148$46,042,034
82$65,555,847$21,256,190$15,012,521$50,162,889
83$72,149,536$22,204,736$15,422,433$54,681,305
84$79,412,851$23,196,830$15,843,147$59,636,885
85$87,414,002$24,234,516$16,274,933$65,073,227
86$96,228,153$25,319,930$16,718,067$71,038,333
87$105,938,133$26,455,315$17,172,830$77,585,055
88$116,635,214$27,643,016$17,639,511$84,771,592
89$128,419,975$28,885,494$18,118,404$92,662,025
90$141,403,254$30,185,324$18,609,812$101,326,922
91$155,707,187$31,545,206$19,114,041$110,843,994
92$171,466,366$32,967,967$19,631,408$121,298,821
93$188,829,108$34,456,571$20,162,233$132,785,656
94$207,958,855$36,014,121$20,706,846$145,408,299
95$229,035,716$37,643,870$21,265,583$159,281,076
96$252,258,165$39,349,226$21,838,786$174,529,905
97$277,844,920$41,133,760$22,426,807$191,293,477
98$306,037,001$43,001,213$23,030,004$209,724,555
99$337,100,009$44,955,507$23,648,744$229,991,406
100$371,326,632$47,000,749$24,283,398$252,279,380