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%13.8%
1 years$685,406$679,301$673,344$667,531$661,854$651,425
2 years$339,310$332,991$326,866$320,928$315,168$304,689
3 years$223,960$217,613$211,504$205,622$199,956$189,752
4 years$166,296$159,969$153,921$148,139$142,610$132,760
5 years$131,707$125,417$119,449$113,785$108,410$98,942
6 years$108,655$102,413$96,532$90,995$85,781$76,706
7 years$92,195$86,006$80,219$74,812$69,763$61,084
8 years$79,857$73,723$68,032$62,758$57,875$49,590
9 years$70,265$64,189$58,596$53,456$48,739$40,844
10 years$62,596$56,580$51,085$46,079$41,528$34,017
11 years$56,325$50,370$44,975$40,103$35,716$28,581
12 years$51,104$45,209$39,914$35,176$30,950$24,182
13 years$46,689$40,856$35,660$31,055$26,989$20,579
14 years$42,908$37,137$32,041$27,567$23,659$17,595
15 years$39,634$33,925$28,929$24,585$20,831$15,103
16 years$36,772$31,126$26,228$22,013$18,411$13,006
17 years$34,250$28,665$23,867$19,779$16,324$11,232
18 years$32,010$26,488$21,787$17,824$14,515$9,723
19 years$30,008$24,549$19,945$16,106$12,937$8,433
20 years$28,209$22,812$18,305$14,587$11,556$7,327
21 years$26,583$21,249$16,837$13,239$10,341$6,375
22 years$25,107$19,835$15,518$12,037$9,269$5,555
23 years$23,762$18,551$14,328$10,962$8,321$4,845
24 years$22,530$17,381$13,251$9,998$7,479$4,230
25 years$21,399$16,311$12,273$9,131$6,730$3,696
26 years$20,356$15,330$11,382$8,349$6,062$3,231
27 years$19,392$14,427$10,570$7,642$5,465$2,827
28 years$18,499$13,595$9,826$7,002$4,931$2,475
29 years$17,669$12,825$9,144$6,421$4,453$2,168
30 years$16,895$12,112$8,517$5,893$4,024$1,899
31 years$16,173$11,450$7,940$5,412$3,638$1,665
32 years$15,497$10,834$7,408$4,974$3,291$1,459
33 years$14,864$10,260$6,917$4,574$2,978$1,280
34 years$14,269$9,724$6,463$4,208$2,696$1,123
35 years$13,710$9,223$6,042$3,874$2,442$985
36 years$13,182$8,754$5,653$3,568$2,213$865
37 years$12,685$8,314$5,291$3,287$2,005$759
38 years$12,214$7,902$4,955$3,030$1,818$666
39 years$11,769$7,514$4,642$2,794$1,649$585
40 years$11,347$7,149$4,351$2,577$1,495$513
41 years$10,947$6,805$4,080$2,377$1,357$451
42 years$10,567$6,481$3,827$2,194$1,231$396
43 years$10,206$6,175$3,591$2,025$1,117$348
44 years$9,862$5,886$3,371$1,870$1,014$305
45 years$9,534$5,613$3,165$1,727$921$268
46 years$9,221$5,354$2,973$1,595$836$236
47 years$8,923$5,110$2,793$1,474$759$207
48 years$8,637$4,878$2,624$1,362$689$182
49 years$8,365$4,658$2,467$1,259$626$160
50 years$8,104$4,450$2,319$1,163$569$140

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 $6,632 every year, while hoping to spend $22,229 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: 74/9/17 Blend
60$8,300,000$8,300,000$8,300,000$8,300,000
61$9,153,441$8,713,541$8,584,891$9,794,830
62$10,063,440$9,116,853$8,848,833$10,623,976
63$11,065,515$9,539,182$9,120,873$11,528,880
64$12,169,032$9,981,437$9,401,257$12,519,858
65$13,384,316$10,444,570$9,690,241$13,605,462
66$14,722,741$10,929,578$9,988,089$14,795,111
67$16,196,842$11,437,509$10,295,071$16,099,172
68$17,820,431$11,969,458$10,611,467$17,529,061
69$19,608,728$12,526,575$10,937,565$19,097,350
70$21,578,507$13,110,066$11,273,662$20,817,882
71$23,748,248$13,721,192$11,620,063$22,705,902
72$26,138,318$14,361,279$11,977,084$24,778,198
73$28,771,159$15,031,714$12,345,048$27,053,259
74$31,671,501$15,733,953$12,724,292$29,551,450
75$34,866,598$16,469,520$13,115,159$32,295,198
76$38,386,480$17,240,016$13,518,006$35,309,207
77$42,264,239$18,047,115$13,933,198$38,620,686
78$46,536,344$18,892,576$14,361,112$42,259,606
79$51,242,979$19,778,240$14,802,138$46,258,980
80$56,428,430$20,706,041$15,256,676$50,655,172
81$62,141,494$21,678,001$15,725,139$55,488,243
82$68,435,947$22,696,244$16,207,952$60,802,319
83$75,371,050$23,762,996$16,705,554$66,646,013
84$83,012,104$24,880,590$17,218,397$73,072,878
85$91,431,071$26,051,471$17,746,947$80,141,910
86$100,707,253$27,278,206$18,291,682$87,918,104
87$110,928,037$28,563,482$18,853,097$96,473,065
88$122,189,724$29,910,120$19,431,703$105,885,677
89$134,598,433$31,321,073$20,028,023$116,242,853
90$148,271,110$32,799,443$20,642,598$127,640,345
91$163,336,625$34,348,476$21,275,986$140,183,651
92$179,936,990$35,971,582$21,928,762$153,989,000
93$198,228,704$37,672,330$22,601,516$169,184,456
94$218,384,224$39,454,466$23,294,859$185,911,114
95$240,593,597$41,321,917$24,009,419$204,324,437
96$265,066,253$43,278,800$24,745,843$224,595,711
97$292,032,981$45,329,432$25,504,800$246,913,666
98$321,748,110$47,478,339$26,286,975$271,486,251
99$354,491,906$49,730,266$27,093,078$298,542,589
100$390,573,222$52,090,191$27,923,838$328,335,143