Can I retire at age 61 with 8,800,000?

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 $8,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$726,696$720,223$713,907$707,743$701,724$685,317
2 years$359,750$353,050$346,557$340,261$334,154$317,718
3 years$237,451$230,722$224,245$218,009$212,001$196,049
4 years$176,314$169,605$163,193$157,063$151,201$135,855
5 years$139,641$132,973$126,645$120,639$114,941$100,245
6 years$115,200$108,582$102,348$96,476$90,949$76,917
7 years$97,749$91,187$85,051$79,318$73,966$60,601
8 years$84,667$78,164$72,130$66,538$61,362$48,659
9 years$74,498$68,056$62,126$56,676$51,675$39,625
10 years$66,367$59,988$54,163$48,855$44,030$32,618
11 years$59,718$53,404$47,684$42,519$37,867$27,078
12 years$54,182$47,932$42,318$37,295$32,815$22,631
13 years$49,501$43,317$37,809$32,925$28,615$19,017
14 years$45,493$39,374$33,971$29,228$25,084$16,051
15 years$42,022$35,969$30,671$26,066$22,086$13,598
16 years$38,987$33,001$27,808$23,339$19,520$11,555
17 years$36,313$30,392$25,304$20,970$17,307$9,843
18 years$33,938$28,084$23,100$18,898$15,389$8,403
19 years$31,816$26,028$21,147$17,076$13,717$7,187
20 years$29,908$24,186$19,407$15,466$12,252$6,156
21 years$28,185$22,529$17,851$14,036$10,964$5,280
22 years$26,620$21,030$16,452$12,762$9,828$4,533
23 years$25,193$19,669$15,191$11,623$8,822$3,896
24 years$23,887$18,428$14,049$10,601$7,929$3,350
25 years$22,688$17,294$13,012$9,681$7,135$2,884
26 years$21,582$16,254$12,068$8,852$6,427$2,483
27 years$20,560$15,296$11,206$8,102$5,795$2,140
28 years$19,613$14,414$10,418$7,423$5,229$1,844
29 years$18,733$13,598$9,695$6,807$4,721$1,590
30 years$17,913$12,842$9,030$6,248$4,266$1,372
31 years$17,147$12,140$8,419$5,738$3,857$1,184
32 years$16,431$11,487$7,855$5,273$3,489$1,021
33 years$15,760$10,878$7,334$4,849$3,157$882
34 years$15,129$10,310$6,852$4,462$2,859$761
35 years$14,536$9,779$6,407$4,107$2,589$657
36 years$13,976$9,281$5,993$3,783$2,346$568
37 years$13,449$8,815$5,609$3,485$2,126$490
38 years$12,950$8,378$5,253$3,212$1,928$423
39 years$12,478$7,966$4,922$2,962$1,748$366
40 years$12,031$7,579$4,613$2,732$1,585$316
41 years$11,607$7,215$4,325$2,521$1,438$273
42 years$11,204$6,871$4,057$2,326$1,305$236
43 years$10,820$6,547$3,807$2,147$1,185$204
44 years$10,456$6,240$3,574$1,983$1,075$176
45 years$10,108$5,951$3,356$1,831$976$152
46 years$9,777$5,677$3,152$1,691$886$132
47 years$9,460$5,417$2,961$1,563$805$114
48 years$9,158$5,172$2,783$1,444$731$98
49 years$8,869$4,939$2,615$1,335$664$85
50 years$8,592$4,718$2,459$1,233$603$73

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $8,800,000, adding $4,831 every year, while hoping to spend $56,346 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: 85/8/7 Blend
60$8,800,000$8,800,000$8,800,000$8,800,000
61$9,702,583$9,236,183$9,099,783$10,521,371
62$10,632,295$9,628,804$9,344,674$11,448,934
63$11,654,949$10,038,776$9,595,881$12,459,608
64$12,779,965$10,466,888$9,853,554$13,568,160
65$14,017,724$10,913,968$10,117,851$14,784,395
66$15,379,662$11,380,882$10,388,929$16,119,110
67$16,878,380$11,868,537$10,666,950$17,584,195
68$18,527,761$12,377,882$10,952,080$19,192,747
69$20,343,105$12,909,910$11,244,486$20,959,193
70$22,341,267$13,465,662$11,544,342$22,899,422
71$24,540,822$14,046,224$11,851,823$25,030,935
72$26,962,235$14,652,738$12,167,108$27,373,012
73$29,628,056$15,286,396$12,490,380$29,946,891
74$32,563,135$15,948,447$12,821,825$32,775,964
75$35,794,853$16,640,198$13,161,634$35,886,003
76$39,353,379$17,363,019$13,509,999$39,305,399
77$43,271,959$18,118,343$13,867,120$43,065,427
78$47,587,228$18,907,671$14,233,198$47,200,543
79$52,339,552$19,732,573$14,608,437$51,748,706
80$57,573,414$20,594,697$14,993,047$56,751,736
81$63,337,829$21,495,764$15,387,241$62,255,706
82$69,686,811$22,437,579$15,791,236$68,311,378
83$76,679,877$23,422,032$16,205,254$74,974,676
84$84,382,613$24,451,101$16,629,519$82,307,219
85$92,867,293$25,526,857$17,064,261$90,376,895
86$102,213,555$26,651,472$17,509,712$99,258,501
87$112,509,161$27,827,218$17,966,111$109,034,452
88$123,850,819$29,056,475$18,433,699$119,795,550
89$136,345,096$30,341,735$18,912,721$131,641,847
90$150,109,426$31,685,611$19,403,428$144,683,578
91$165,273,217$33,090,835$19,906,072$159,042,211
92$181,979,073$34,560,274$20,420,914$174,851,579
93$200,384,138$36,096,927$20,948,214$192,259,152
94$220,661,580$37,703,937$21,488,239$211,427,419
95$243,002,227$39,384,595$22,041,260$232,535,426
96$267,616,364$41,142,350$22,607,553$255,780,456
97$294,735,722$42,980,814$23,187,395$281,379,895
98$324,615,664$44,903,772$23,781,070$309,573,280
99$357,537,591$46,915,187$24,388,866$340,624,555
100$393,811,606$49,019,211$25,011,074$374,824,561