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%19.2%
1 years$685,406$679,301$673,344$667,531$661,854$637,357
2 years$339,310$332,991$326,866$320,928$315,168$290,765
3 years$223,960$217,613$211,504$205,622$199,956$176,413
4 years$166,296$159,969$153,921$148,139$142,610$120,108
5 years$131,707$125,417$119,449$113,785$108,410$87,007
6 years$108,655$102,413$96,532$90,995$85,781$65,492
7 years$92,195$86,006$80,219$74,812$69,763$50,582
8 years$79,857$73,723$68,032$62,758$57,875$39,786
9 years$70,265$64,189$58,596$53,456$48,739$31,717
10 years$62,596$56,580$51,085$46,079$41,528$25,542
11 years$56,325$50,370$44,975$40,103$35,716$20,731
12 years$51,104$45,209$39,914$35,176$30,950$16,929
13 years$46,689$40,856$35,660$31,055$26,989$13,893
14 years$42,908$37,137$32,041$27,567$23,659$11,446
15 years$39,634$33,925$28,929$24,585$20,831$9,460
16 years$36,772$31,126$26,228$22,013$18,411$7,838
17 years$34,250$28,665$23,867$19,779$16,324$6,509
18 years$32,010$26,488$21,787$17,824$14,515$5,414
19 years$30,008$24,549$19,945$16,106$12,937$4,510
20 years$28,209$22,812$18,305$14,587$11,556$3,761
21 years$26,583$21,249$16,837$13,239$10,341$3,140
22 years$25,107$19,835$15,518$12,037$9,269$2,623
23 years$23,762$18,551$14,328$10,962$8,321$2,193
24 years$22,530$17,381$13,251$9,998$7,479$1,834
25 years$21,399$16,311$12,273$9,131$6,730$1,535
26 years$20,356$15,330$11,382$8,349$6,062$1,285
27 years$19,392$14,427$10,570$7,642$5,465$1,077
28 years$18,499$13,595$9,826$7,002$4,931$902
29 years$17,669$12,825$9,144$6,421$4,453$756
30 years$16,895$12,112$8,517$5,893$4,024$633
31 years$16,173$11,450$7,940$5,412$3,638$531
32 years$15,497$10,834$7,408$4,974$3,291$445
33 years$14,864$10,260$6,917$4,574$2,978$373
34 years$14,269$9,724$6,463$4,208$2,696$313
35 years$13,710$9,223$6,042$3,874$2,442$262
36 years$13,182$8,754$5,653$3,568$2,213$220
37 years$12,685$8,314$5,291$3,287$2,005$185
38 years$12,214$7,902$4,955$3,030$1,818$155
39 years$11,769$7,514$4,642$2,794$1,649$130
40 years$11,347$7,149$4,351$2,577$1,495$109
41 years$10,947$6,805$4,080$2,377$1,357$91
42 years$10,567$6,481$3,827$2,194$1,231$77
43 years$10,206$6,175$3,591$2,025$1,117$64
44 years$9,862$5,886$3,371$1,870$1,014$54
45 years$9,534$5,613$3,165$1,727$921$45
46 years$9,221$5,354$2,973$1,595$836$38
47 years$8,923$5,110$2,793$1,474$759$32
48 years$8,637$4,878$2,624$1,362$689$27
49 years$8,365$4,658$2,467$1,259$626$22
50 years$8,104$4,450$2,319$1,163$569$19

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 $4,783 every year, while hoping to spend $53,231 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: 64/11/25 Blend
60$8,300,000$8,300,000$8,300,000$8,300,000
61$9,151,534$8,711,634$8,582,984$9,676,867
62$10,028,353$9,081,866$8,813,876$10,402,515
63$10,992,823$9,468,456$9,050,720$11,188,681
64$12,053,830$9,872,149$9,293,657$12,046,484
65$13,221,160$10,293,724$9,542,835$12,982,956
66$14,505,600$10,733,999$9,798,402$14,005,836
67$15,919,034$11,193,827$10,060,510$15,123,644
68$17,474,554$11,674,103$10,329,316$16,345,758
69$19,186,589$12,175,765$10,604,978$17,682,503
70$21,071,034$12,699,790$10,887,658$19,145,244
71$23,145,407$13,247,207$11,177,522$20,746,498
72$25,429,006$13,819,088$11,474,737$22,500,044
73$27,943,101$14,416,559$11,779,476$24,421,056
74$30,711,123$15,040,797$12,091,915$26,526,242
75$33,758,895$15,693,033$12,412,232$28,834,003
76$37,114,870$16,374,560$12,740,609$31,364,602
77$40,810,400$17,086,727$13,077,233$34,140,355
78$44,880,034$17,830,949$13,422,293$37,185,842
79$49,361,840$18,608,707$13,775,982$40,528,131
80$54,297,767$19,421,554$14,138,497$44,197,040
81$59,734,041$20,271,112$14,510,038$48,225,409
82$65,721,598$21,159,082$14,890,810$52,649,413
83$72,316,570$22,087,245$15,281,021$57,508,898
84$79,580,806$23,057,466$15,680,881$62,847,757
85$87,582,465$24,071,699$16,090,607$68,714,341
86$96,396,652$25,131,988$16,510,418$75,161,914
87$106,106,131$26,240,475$16,940,537$82,249,153
88$116,802,102$27,399,405$17,381,192$90,040,697
89$128,585,067$28,611,126$17,832,612$98,607,758
90$141,565,773$29,878,100$18,295,033$108,028,790
91$155,866,259$31,202,904$18,768,694$118,390,224
92$171,621,008$32,588,237$19,253,837$129,787,283
93$188,978,219$34,036,929$19,750,708$142,324,878
94$208,101,199$35,551,940$20,259,558$156,118,593
95$229,169,910$37,136,374$20,780,642$171,295,777
96$252,382,665$38,793,480$21,314,218$187,996,737
97$277,957,999$40,526,663$21,860,546$206,376,064
98$306,136,735$42,339,490$22,419,895$226,604,084
99$337,184,253$44,235,696$22,992,533$248,868,467
100$371,392,998$46,219,196$23,578,733$273,375,990