Can I retire at age 61 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$685,406$679,301$673,344$667,531$661,854$640,667
2 years$339,310$332,991$326,866$320,928$315,168$294,019
3 years$223,960$217,613$211,504$205,622$199,956$179,507
4 years$166,296$159,969$153,921$148,139$142,610$123,018
5 years$131,707$125,417$119,449$113,785$108,410$89,728
6 years$108,655$102,413$96,532$90,995$85,781$68,024
7 years$92,195$86,006$80,219$74,812$69,763$52,930
8 years$79,857$73,723$68,032$62,758$57,875$41,954
9 years$70,265$64,189$58,596$53,456$48,739$33,712
10 years$62,596$56,580$51,085$46,079$41,528$27,372
11 years$56,325$50,370$44,975$40,103$35,716$22,404
12 years$51,104$45,209$39,914$35,176$30,950$18,456
13 years$46,689$40,856$35,660$31,055$26,989$15,280
14 years$42,908$37,137$32,041$27,567$23,659$12,703
15 years$39,634$33,925$28,929$24,585$20,831$10,596
16 years$36,772$31,126$26,228$22,013$18,411$8,863
17 years$34,250$28,665$23,867$19,779$16,324$7,430
18 years$32,010$26,488$21,787$17,824$14,515$6,241
19 years$30,008$24,549$19,945$16,106$12,937$5,250
20 years$28,209$22,812$18,305$14,587$11,556$4,422
21 years$26,583$21,249$16,837$13,239$10,341$3,729
22 years$25,107$19,835$15,518$12,037$9,269$3,147
23 years$23,762$18,551$14,328$10,962$8,321$2,658
24 years$22,530$17,381$13,251$9,998$7,479$2,247
25 years$21,399$16,311$12,273$9,131$6,730$1,900
26 years$20,356$15,330$11,382$8,349$6,062$1,608
27 years$19,392$14,427$10,570$7,642$5,465$1,361
28 years$18,499$13,595$9,826$7,002$4,931$1,152
29 years$17,669$12,825$9,144$6,421$4,453$976
30 years$16,895$12,112$8,517$5,893$4,024$826
31 years$16,173$11,450$7,940$5,412$3,638$700
32 years$15,497$10,834$7,408$4,974$3,291$593
33 years$14,864$10,260$6,917$4,574$2,978$503
34 years$14,269$9,724$6,463$4,208$2,696$426
35 years$13,710$9,223$6,042$3,874$2,442$361
36 years$13,182$8,754$5,653$3,568$2,213$306
37 years$12,685$8,314$5,291$3,287$2,005$260
38 years$12,214$7,902$4,955$3,030$1,818$220
39 years$11,769$7,514$4,642$2,794$1,649$187
40 years$11,347$7,149$4,351$2,577$1,495$158
41 years$10,947$6,805$4,080$2,377$1,357$134
42 years$10,567$6,481$3,827$2,194$1,231$114
43 years$10,206$6,175$3,591$2,025$1,117$97
44 years$9,862$5,886$3,371$1,870$1,014$82
45 years$9,534$5,613$3,165$1,727$921$69
46 years$9,221$5,354$2,973$1,595$836$59
47 years$8,923$5,110$2,793$1,474$759$50
48 years$8,637$4,878$2,624$1,362$689$42
49 years$8,365$4,658$2,467$1,259$626$36
50 years$8,104$4,450$2,319$1,163$569$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $8,300,000, adding $6,527 every year, while hoping to spend $43,825 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: 74/18/8 Blend
60$8,300,000$8,300,000$8,300,000$8,300,000
61$9,153,333$8,713,433$8,584,783$9,818,834
62$10,040,343$9,093,761$8,825,743$10,638,551
63$11,016,360$9,491,257$9,073,307$11,530,125
64$12,090,415$9,906,716$9,327,650$12,505,603
65$13,272,461$10,340,968$9,588,950$13,573,274
66$14,573,464$10,794,888$9,857,392$14,742,260
67$16,005,506$11,269,386$10,133,163$16,022,602
68$17,581,902$11,765,420$10,416,458$17,425,354
69$19,317,320$12,283,990$10,707,474$18,962,684
70$21,227,926$12,826,145$11,006,413$20,647,990
71$23,331,532$13,392,983$11,313,485$22,496,021
72$25,647,763$13,985,654$11,628,902$24,523,017
73$28,198,247$14,605,364$11,952,883$26,746,861
74$31,006,815$15,253,373$12,285,651$29,187,241
75$34,099,725$15,931,003$12,627,435$31,865,842
76$37,505,914$16,639,640$12,978,472$34,806,541
77$41,257,267$17,380,732$13,339,000$38,035,633
78$45,388,919$18,155,798$13,709,267$41,582,078
79$49,939,587$18,966,430$14,089,526$45,477,769
80$54,951,935$19,814,295$14,480,034$49,757,836
81$60,472,975$20,701,138$14,881,058$54,460,967
82$66,554,513$21,628,789$15,292,868$59,629,778
83$73,253,637$22,599,163$15,715,743$65,311,206
84$80,633,254$23,614,268$16,149,967$71,556,956
85$88,762,686$24,676,208$16,595,831$78,423,977
86$97,718,323$25,787,185$17,053,634$85,975,007
87$107,584,343$26,949,508$17,523,682$94,279,151
88$118,453,507$28,165,595$18,006,287$103,412,538
89$130,428,037$29,437,981$18,501,769$113,459,032
90$143,620,575$30,769,320$19,010,457$124,511,020
91$158,155,252$32,162,395$19,532,685$136,670,280
92$174,168,855$33,620,120$20,068,797$150,048,941
93$191,812,121$35,145,549$20,619,145$164,770,530
94$211,251,159$36,741,882$21,184,088$180,971,139
95$232,669,016$38,412,473$21,763,994$198,800,706
96$256,267,406$40,160,835$22,359,239$218,424,418
97$282,268,617$41,990,651$22,970,208$240,024,272
98$310,917,602$43,905,779$23,597,296$263,800,787
99$342,484,297$45,910,262$24,240,905$289,974,886
100$377,266,168$48,008,338$24,901,448$318,789,981