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

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$693,664$687,485$681,457$675,573$669,828$643,252
2 years$343,398$337,003$330,804$324,795$318,966$292,520
3 years$226,658$220,235$214,052$208,099$202,365$176,883
4 years$168,299$161,896$155,775$149,924$144,328$120,003
5 years$133,293$126,928$120,888$115,156$109,716$86,610
6 years$109,964$103,647$97,695$92,091$86,815$64,942
7 years$93,306$87,042$81,185$75,713$70,604$49,957
8 years$80,819$74,611$68,852$63,514$58,572$39,131
9 years$71,111$64,963$59,302$54,100$49,326$31,061
10 years$63,350$57,261$51,701$46,634$42,029$24,902
11 years$57,004$50,976$45,517$40,586$36,146$20,120
12 years$51,719$45,754$40,395$35,599$31,323$16,354
13 years$47,251$41,348$36,090$31,429$27,315$13,356
14 years$43,425$37,584$32,427$27,899$23,944$10,950
15 years$40,111$34,334$29,277$24,881$21,082$9,005
16 years$37,215$31,501$26,544$22,278$18,632$7,424
17 years$34,662$29,011$24,154$20,017$16,521$6,132
18 years$32,396$26,807$22,050$18,039$14,689$5,074
19 years$30,370$24,845$20,185$16,300$13,093$4,204
20 years$28,549$23,087$18,525$14,763$11,695$3,488
21 years$26,904$21,505$17,040$13,398$10,466$2,896
22 years$25,410$20,074$15,705$12,182$9,381$2,406
23 years$24,048$18,775$14,500$11,094$8,421$2,000
24 years$22,802$17,591$13,410$10,119$7,569$1,664
25 years$21,656$16,508$12,421$9,241$6,811$1,385
26 years$20,601$15,515$11,520$8,449$6,135$1,153
27 years$19,626$14,601$10,697$7,734$5,531$960
28 years$18,722$13,759$9,944$7,086$4,991$800
29 years$17,882$12,980$9,254$6,498$4,507$666
30 years$17,099$12,258$8,620$5,964$4,072$555
31 years$16,368$11,588$8,036$5,477$3,682$463
32 years$15,684$10,964$7,498$5,034$3,330$386
33 years$15,043$10,383$7,001$4,629$3,014$322
34 years$14,441$9,841$6,541$4,259$2,729$268
35 years$13,875$9,334$6,115$3,921$2,471$224
36 years$13,341$8,860$5,721$3,611$2,239$186
37 years$12,837$8,415$5,354$3,327$2,030$155
38 years$12,361$7,997$5,014$3,066$1,840$130
39 years$11,911$7,604$4,698$2,827$1,669$108
40 years$11,484$7,235$4,403$2,608$1,513$90
41 years$11,079$6,887$4,129$2,406$1,373$75
42 years$10,694$6,559$3,873$2,221$1,246$63
43 years$10,329$6,249$3,634$2,050$1,131$52
44 years$9,980$5,957$3,411$1,893$1,026$44
45 years$9,649$5,680$3,203$1,748$932$36
46 years$9,332$5,419$3,009$1,615$846$30
47 years$9,030$5,171$2,826$1,492$768$25
48 years$8,741$4,937$2,656$1,378$698$21
49 years$8,465$4,714$2,497$1,274$634$18
50 years$8,201$4,503$2,347$1,177$575$15

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 $4,272 every year, while hoping to spend $26,676 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: 40/32/28 Blend
60$8,400,000$8,400,000$8,400,000$8,400,000
61$9,261,207$8,816,007$8,685,807$9,554,905
62$10,177,467$9,219,608$8,948,398$10,172,422
63$11,186,291$9,642,091$9,218,892$10,837,266
64$12,297,093$10,084,355$9,497,526$11,556,058
65$13,520,246$10,547,337$9,784,542$12,333,757
66$14,867,180$11,032,025$10,080,193$13,175,805
67$16,350,488$11,539,450$10,384,735$14,088,175
68$17,984,049$12,070,695$10,698,436$15,077,425
69$19,783,158$12,626,894$11,021,568$16,150,756
70$21,764,664$13,209,236$11,354,415$17,316,076
71$23,947,138$13,818,967$11,697,266$18,582,075
72$26,351,042$14,457,393$12,050,421$19,958,297
73$28,998,926$15,125,882$12,414,187$21,455,229
74$31,915,636$15,825,870$12,788,882$23,084,399
75$35,128,553$16,558,860$13,174,832$24,858,475
76$38,667,850$17,326,429$13,572,373$26,791,383
77$42,566,775$18,130,228$13,981,852$28,898,434
78$46,861,967$18,971,990$14,403,625$31,196,464
79$51,593,799$19,853,530$14,838,058$33,703,984
80$56,806,764$20,776,750$15,285,531$36,441,355
81$62,549,889$21,743,645$15,746,431$39,430,970
82$68,877,201$22,756,307$16,221,159$42,697,462
83$75,848,236$23,816,927$16,710,129$46,267,931
84$83,528,602$24,927,802$17,213,764$50,172,189
85$91,990,596$26,091,341$17,732,502$54,443,042
86$101,313,889$27,310,069$18,266,793$59,116,586
87$111,586,276$28,586,633$18,817,101$64,232,543
88$122,904,505$29,923,807$19,383,903$69,834,630
89$135,375,191$31,324,500$19,967,690$75,970,961
90$149,115,822$32,791,762$20,568,968$82,694,495
91$164,255,866$34,328,788$21,188,259$90,063,527
92$180,937,996$35,938,931$21,826,098$98,142,225
93$199,319,438$37,625,705$22,483,038$107,001,235
94$219,573,447$39,392,791$23,159,647$116,718,330
95$241,890,954$41,244,053$23,856,510$127,379,135
96$266,482,359$43,183,539$24,574,231$139,077,931
97$293,579,520$45,215,493$25,313,428$151,918,524
98$323,437,945$47,344,366$26,074,742$166,015,220
99$356,339,198$49,574,822$26,858,828$181,493,891
100$392,593,562$51,911,755$27,666,365$198,493,147