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%18.7%
1 years$685,406$679,301$673,344$667,531$661,854$638,625
2 years$339,310$332,991$326,866$320,928$315,168$292,009
3 years$223,960$217,613$211,504$205,622$199,956$177,595
4 years$166,296$159,969$153,921$148,139$142,610$121,218
5 years$131,707$125,417$119,449$113,785$108,410$88,042
6 years$108,655$102,413$96,532$90,995$85,781$66,454
7 years$92,195$86,006$80,219$74,812$69,763$51,472
8 years$79,857$73,723$68,032$62,758$57,875$40,606
9 years$70,265$64,189$58,596$53,456$48,739$32,470
10 years$62,596$56,580$51,085$46,079$41,528$26,231
11 years$56,325$50,370$44,975$40,103$35,716$21,359
12 years$51,104$45,209$39,914$35,176$30,950$17,501
13 years$46,689$40,856$35,660$31,055$26,989$14,411
14 years$42,908$37,137$32,041$27,567$23,659$11,915
15 years$39,634$33,925$28,929$24,585$20,831$9,882
16 years$36,772$31,126$26,228$22,013$18,411$8,218
17 years$34,250$28,665$23,867$19,779$16,324$6,849
18 years$32,010$26,488$21,787$17,824$14,515$5,719
19 years$30,008$24,549$19,945$16,106$12,937$4,782
20 years$28,209$22,812$18,305$14,587$11,556$4,003
21 years$26,583$21,249$16,837$13,239$10,341$3,355
22 years$25,107$19,835$15,518$12,037$9,269$2,814
23 years$23,762$18,551$14,328$10,962$8,321$2,362
24 years$22,530$17,381$13,251$9,998$7,479$1,983
25 years$21,399$16,311$12,273$9,131$6,730$1,667
26 years$20,356$15,330$11,382$8,349$6,062$1,401
27 years$19,392$14,427$10,570$7,642$5,465$1,178
28 years$18,499$13,595$9,826$7,002$4,931$991
29 years$17,669$12,825$9,144$6,421$4,453$834
30 years$16,895$12,112$8,517$5,893$4,024$702
31 years$16,173$11,450$7,940$5,412$3,638$591
32 years$15,497$10,834$7,408$4,974$3,291$497
33 years$14,864$10,260$6,917$4,574$2,978$419
34 years$14,269$9,724$6,463$4,208$2,696$352
35 years$13,710$9,223$6,042$3,874$2,442$297
36 years$13,182$8,754$5,653$3,568$2,213$250
37 years$12,685$8,314$5,291$3,287$2,005$210
38 years$12,214$7,902$4,955$3,030$1,818$177
39 years$11,769$7,514$4,642$2,794$1,649$149
40 years$11,347$7,149$4,351$2,577$1,495$126
41 years$10,947$6,805$4,080$2,377$1,357$106
42 years$10,567$6,481$3,827$2,194$1,231$89
43 years$10,206$6,175$3,591$2,025$1,117$75
44 years$9,862$5,886$3,371$1,870$1,014$63
45 years$9,534$5,613$3,165$1,727$921$53
46 years$9,221$5,354$2,973$1,595$836$45
47 years$8,923$5,110$2,793$1,474$759$38
48 years$8,637$4,878$2,624$1,362$689$32
49 years$8,365$4,658$2,467$1,259$626$27
50 years$8,104$4,450$2,319$1,163$569$23

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 $4,394 every year, while hoping to spend $54,892 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: 50/34/16 Blend
60$8,300,000$8,300,000$8,300,000$8,300,000
61$9,151,132$8,711,232$8,582,582$9,568,107
62$10,026,143$9,079,678$8,811,694$10,224,129
63$10,988,565$9,464,338$9,046,642$10,930,602
64$12,047,257$9,865,948$9,287,562$11,697,157
65$13,211,978$10,285,280$9,534,596$12,529,469
66$14,493,481$10,723,140$9,787,886$13,433,776
67$15,903,614$11,180,373$10,047,579$14,416,931
68$17,455,433$11,657,861$10,313,823$15,486,467
69$19,163,321$12,156,531$10,586,770$16,650,665
70$21,043,129$12,677,349$10,866,575$17,918,630
71$23,112,318$13,221,330$11,153,396$19,300,370
72$25,390,133$13,789,533$11,447,393$20,806,895
73$27,897,776$14,383,070$11,748,731$22,450,309
74$30,658,612$15,003,102$12,057,575$24,243,930
75$33,698,383$15,650,847$12,374,096$26,202,403
76$37,045,457$16,327,578$12,698,468$28,341,843
77$40,731,093$17,034,629$13,030,866$30,679,978
78$44,789,734$17,773,395$13,371,470$33,236,314
79$49,259,335$18,545,340$13,720,462$36,032,316
80$54,181,718$19,351,992$14,078,029$39,091,604
81$59,602,970$20,194,956$14,444,359$42,440,176
82$65,573,872$21,075,908$14,819,644$46,106,643
83$72,150,385$21,996,606$15,204,081$50,122,498
84$79,394,175$22,958,890$15,597,867$54,522,409
85$87,373,190$23,964,685$16,001,206$59,344,535
86$96,162,311$25,016,010$16,414,302$64,630,890
87$105,844,050$26,114,978$16,837,363$70,427,726
88$116,509,331$27,263,799$17,270,603$76,785,967
89$128,258,350$28,464,793$17,714,236$83,761,683
90$141,201,519$29,720,385$18,168,480$91,416,612
91$155,460,506$31,033,117$18,633,557$99,818,739
92$171,169,389$32,405,650$19,109,691$109,042,924
93$188,475,912$33,840,772$19,597,111$119,171,610
94$207,542,889$35,341,404$20,096,048$130,295,585
95$228,549,734$36,910,603$20,606,737$142,514,837
96$251,694,157$38,551,574$21,129,413$155,939,486
97$277,194,031$40,267,671$21,664,318$170,690,818
98$305,289,445$42,062,409$22,211,695$186,902,414
99$336,244,972$43,939,471$22,771,791$204,721,410
100$370,352,167$45,902,713$23,344,854$224,309,869