Can I retire at age 61 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$693,664$687,485$681,457$675,573$669,828$665,328
2 years$343,398$337,003$330,804$324,795$318,966$314,427
3 years$226,658$220,235$214,052$208,099$202,365$197,928
4 years$168,299$161,896$155,775$149,924$144,328$140,028
5 years$133,293$126,928$120,888$115,156$109,716$105,565
6 years$109,964$103,647$97,695$92,091$86,815$82,818
7 years$93,306$87,042$81,185$75,713$70,604$66,763
8 years$80,819$74,611$68,852$63,514$58,572$54,888
9 years$71,111$64,963$59,302$54,100$49,326$45,797
10 years$63,350$57,261$51,701$46,634$42,029$38,653
11 years$57,004$50,976$45,517$40,586$36,146$32,921
12 years$51,719$45,754$40,395$35,599$31,323$28,247
13 years$47,251$41,348$36,090$31,429$27,315$24,383
14 years$43,425$37,584$32,427$27,899$23,944$21,154
15 years$40,111$34,334$29,277$24,881$21,082$18,430
16 years$37,215$31,501$26,544$22,278$18,632$16,115
17 years$34,662$29,011$24,154$20,017$16,521$14,133
18 years$32,396$26,807$22,050$18,039$14,689$12,427
19 years$30,370$24,845$20,185$16,300$13,093$10,952
20 years$28,549$23,087$18,525$14,763$11,695$9,671
21 years$26,904$21,505$17,040$13,398$10,466$8,555
22 years$25,410$20,074$15,705$12,182$9,381$7,578
23 years$24,048$18,775$14,500$11,094$8,421$6,722
24 years$22,802$17,591$13,410$10,119$7,569$5,969
25 years$21,656$16,508$12,421$9,241$6,811$5,306
26 years$20,601$15,515$11,520$8,449$6,135$4,721
27 years$19,626$14,601$10,697$7,734$5,531$4,203
28 years$18,722$13,759$9,944$7,086$4,991$3,745
29 years$17,882$12,980$9,254$6,498$4,507$3,339
30 years$17,099$12,258$8,620$5,964$4,072$2,979
31 years$16,368$11,588$8,036$5,477$3,682$2,658
32 years$15,684$10,964$7,498$5,034$3,330$2,374
33 years$15,043$10,383$7,001$4,629$3,014$2,120
34 years$14,441$9,841$6,541$4,259$2,729$1,894
35 years$13,875$9,334$6,115$3,921$2,471$1,693
36 years$13,341$8,860$5,721$3,611$2,239$1,514
37 years$12,837$8,415$5,354$3,327$2,030$1,354
38 years$12,361$7,997$5,014$3,066$1,840$1,211
39 years$11,911$7,604$4,698$2,827$1,669$1,083
40 years$11,484$7,235$4,403$2,608$1,513$969
41 years$11,079$6,887$4,129$2,406$1,373$867
42 years$10,694$6,559$3,873$2,221$1,246$776
43 years$10,329$6,249$3,634$2,050$1,131$695
44 years$9,980$5,957$3,411$1,893$1,026$622
45 years$9,649$5,680$3,203$1,748$932$557
46 years$9,332$5,419$3,009$1,615$846$499
47 years$9,030$5,171$2,826$1,492$768$446
48 years$8,741$4,937$2,656$1,378$698$400
49 years$8,465$4,714$2,497$1,274$634$358
50 years$8,201$4,503$2,347$1,177$575$321

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $8,400,000, adding $2,504 every year, while hoping to spend $21,384 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: 60/12/28 Blend
60$8,400,000$8,400,000$8,400,000$8,400,000
61$9,259,383$8,814,183$8,683,983$9,744,607
62$10,181,088$9,223,325$8,952,144$10,485,078
63$11,196,089$9,651,799$9,228,572$11,290,181
64$12,313,882$10,100,529$9,513,520$12,168,267
65$13,544,927$10,570,484$9,807,252$13,126,450
66$14,900,752$11,062,680$10,110,038$14,172,560
67$16,394,060$11,578,183$10,422,155$15,315,209
68$18,038,848$12,118,108$10,743,891$16,563,877
69$19,850,542$12,683,626$11,075,543$17,928,995
70$21,846,137$13,275,964$11,417,414$19,422,045
71$24,044,365$13,896,408$11,769,819$21,055,664
72$26,465,865$14,546,307$12,133,082$22,843,763
73$29,133,380$15,227,073$12,507,538$24,801,653
74$32,071,974$15,940,188$12,893,529$26,946,194
75$35,309,265$16,687,207$13,291,412$29,295,944
76$38,875,686$17,469,756$13,701,551$31,871,337
77$42,804,776$18,289,545$14,124,323$34,694,873
78$47,133,492$19,148,361$14,560,117$37,791,325
79$51,902,560$20,048,083$15,009,332$41,187,974
80$57,156,859$20,990,676$15,472,383$44,914,860
81$62,945,844$21,978,205$15,949,692$49,005,066
82$69,324,013$23,012,830$16,441,700$53,495,026
83$76,351,423$24,096,819$16,948,857$58,424,865
84$84,094,253$25,232,548$17,471,630$63,838,776
85$92,625,435$26,422,511$18,010,497$69,785,431
86$102,025,334$27,669,319$18,565,954$76,318,443
87$112,382,515$28,975,712$19,138,510$83,496,861
88$123,794,572$30,344,562$19,728,690$91,385,729
89$136,369,053$31,778,881$20,337,036$100,056,694
90$150,224,476$33,281,825$20,964,106$109,588,678
91$165,491,443$34,856,706$21,610,475$120,068,620
92$182,313,880$36,506,994$22,276,735$131,592,291
93$200,850,388$38,236,329$22,963,498$144,265,193
94$221,275,745$40,048,527$23,671,393$158,203,553
95$243,782,556$41,947,589$24,401,069$173,535,411
96$268,583,066$43,937,711$25,153,195$190,401,827
97$295,911,171$46,023,291$25,928,459$208,958,207
98$326,024,621$48,208,943$26,727,573$229,375,759
99$359,207,454$50,499,502$27,551,268$251,843,112
100$395,772,678$52,900,041$28,400,299$276,568,084