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%15.2%
1 years$693,664$687,485$681,457$675,573$669,828$655,500
2 years$343,398$337,003$330,804$324,795$318,966$304,600
3 years$226,658$220,235$214,052$208,099$202,365$188,411
4 years$168,299$161,896$155,775$149,924$144,328$130,892
5 years$133,293$126,928$120,888$115,156$109,716$96,837
6 years$109,964$103,647$97,695$92,091$86,815$74,505
7 years$93,306$87,042$81,185$75,713$70,604$58,867
8 years$80,819$74,611$68,852$63,514$58,572$47,404
9 years$71,111$64,963$59,302$54,100$49,326$38,719
10 years$63,350$57,261$51,701$46,634$42,029$31,971
11 years$57,004$50,976$45,517$40,586$36,146$26,625
12 years$51,719$45,754$40,395$35,599$31,323$22,325
13 years$47,251$41,348$36,090$31,429$27,315$18,823
14 years$43,425$37,584$32,427$27,899$23,944$15,942
15 years$40,111$34,334$29,277$24,881$21,082$13,552
16 years$37,215$31,501$26,544$22,278$18,632$11,557
17 years$34,662$29,011$24,154$20,017$16,521$9,881
18 years$32,396$26,807$22,050$18,039$14,689$8,466
19 years$30,370$24,845$20,185$16,300$13,093$7,268
20 years$28,549$23,087$18,525$14,763$11,695$6,249
21 years$26,904$21,505$17,040$13,398$10,466$5,380
22 years$25,410$20,074$15,705$12,182$9,381$4,637
23 years$24,048$18,775$14,500$11,094$8,421$4,000
24 years$22,802$17,591$13,410$10,119$7,569$3,454
25 years$21,656$16,508$12,421$9,241$6,811$2,985
26 years$20,601$15,515$11,520$8,449$6,135$2,581
27 years$19,626$14,601$10,697$7,734$5,531$2,233
28 years$18,722$13,759$9,944$7,086$4,991$1,932
29 years$17,882$12,980$9,254$6,498$4,507$1,673
30 years$17,099$12,258$8,620$5,964$4,072$1,449
31 years$16,368$11,588$8,036$5,477$3,682$1,256
32 years$15,684$10,964$7,498$5,034$3,330$1,088
33 years$15,043$10,383$7,001$4,629$3,014$943
34 years$14,441$9,841$6,541$4,259$2,729$818
35 years$13,875$9,334$6,115$3,921$2,471$709
36 years$13,341$8,860$5,721$3,611$2,239$615
37 years$12,837$8,415$5,354$3,327$2,030$533
38 years$12,361$7,997$5,014$3,066$1,840$463
39 years$11,911$7,604$4,698$2,827$1,669$401
40 years$11,484$7,235$4,403$2,608$1,513$348
41 years$11,079$6,887$4,129$2,406$1,373$302
42 years$10,694$6,559$3,873$2,221$1,246$262
43 years$10,329$6,249$3,634$2,050$1,131$227
44 years$9,980$5,957$3,411$1,893$1,026$197
45 years$9,649$5,680$3,203$1,748$932$171
46 years$9,332$5,419$3,009$1,615$846$149
47 years$9,030$5,171$2,826$1,492$768$129
48 years$8,741$4,937$2,656$1,378$698$112
49 years$8,465$4,714$2,497$1,274$634$97
50 years$8,201$4,503$2,347$1,177$575$84

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 $4,771 every year, while hoping to spend $47,347 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: 51/42/7 Blend
60$8,400,000$8,400,000$8,400,000$8,400,000
61$9,261,721$8,816,521$8,686,321$9,717,699
62$10,156,040$9,198,154$8,926,936$10,410,015
63$11,139,992$9,596,900$9,174,025$11,156,690
64$12,222,671$10,013,547$9,427,754$11,967,222
65$13,414,095$10,448,922$9,688,295$12,847,619
66$14,725,302$10,903,889$9,955,822$13,804,477
67$16,168,455$11,379,352$10,230,515$14,845,046
68$17,756,958$11,876,260$10,512,557$15,977,287
69$19,505,576$12,395,606$10,802,136$17,209,951
70$21,430,581$12,938,427$11,099,445$18,552,656
71$23,549,904$13,505,813$11,404,679$20,015,971
72$25,883,299$14,098,903$11,718,041$21,611,517
73$28,452,537$14,718,891$12,039,737$23,352,069
74$31,281,605$15,367,026$12,369,978$25,251,676
75$34,396,936$16,044,617$12,708,979$27,325,785
76$37,827,656$16,753,036$13,056,962$29,591,386
77$41,605,859$17,493,717$13,414,153$32,067,165
78$45,766,912$18,268,165$13,780,782$34,773,680
79$50,349,786$19,077,954$14,157,088$37,733,543
80$55,397,425$19,924,734$14,543,311$40,971,634
81$60,957,150$20,810,234$14,939,699$44,515,328
82$67,081,106$21,736,262$15,346,506$48,394,749
83$73,826,755$22,704,715$15,763,990$52,643,043
84$81,257,416$23,717,578$16,192,416$57,296,693
85$89,442,865$24,776,932$16,632,055$62,395,851
86$98,459,992$25,884,956$17,083,183$67,984,709
87$108,393,525$27,043,933$17,546,083$74,111,914
88$119,336,833$28,256,254$18,021,046$80,831,016
89$131,392,804$29,524,425$18,508,365$88,200,965
90$144,674,818$30,851,070$19,008,343$96,286,661
91$159,307,816$32,238,938$19,521,289$105,159,559
92$175,429,479$33,690,912$20,047,518$114,898,328
93$193,191,528$35,210,009$20,587,351$125,589,595
94$212,761,155$36,799,391$21,141,119$137,328,740
95$234,322,603$38,462,371$21,709,157$150,220,797
96$258,078,903$40,202,422$22,291,808$164,381,427
97$284,253,791$42,023,180$22,889,423$179,938,002
98$313,093,819$43,928,457$23,502,360$197,030,797
99$344,870,682$45,922,245$24,130,983$215,814,294
100$379,883,787$48,008,730$24,775,666$236,458,637