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

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 $8,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$726,696$720,223$713,907$707,743$701,724$695,845
2 years$359,750$353,050$346,557$340,261$334,154$328,229
3 years$237,451$230,722$224,245$218,009$212,001$206,213
4 years$176,314$169,605$163,193$157,063$151,201$145,595
5 years$139,641$132,973$126,645$120,639$114,941$109,533
6 years$115,200$108,582$102,348$96,476$90,949$85,746
7 years$97,749$91,187$85,051$79,318$73,966$68,971
8 years$84,667$78,164$72,130$66,538$61,362$56,574
9 years$74,498$68,056$62,126$56,676$51,675$47,094
10 years$66,367$59,988$54,163$48,855$44,030$39,652
11 years$59,718$53,404$47,684$42,519$37,867$33,690
12 years$54,182$47,932$42,318$37,295$32,815$28,834
13 years$49,501$43,317$37,809$32,925$28,615$24,826
14 years$45,493$39,374$33,971$29,228$25,084$21,482
15 years$42,022$35,969$30,671$26,066$22,086$18,666
16 years$38,987$33,001$27,808$23,339$19,520$16,276
17 years$36,313$30,392$25,304$20,970$17,307$14,235
18 years$33,938$28,084$23,100$18,898$15,389$12,482
19 years$31,816$26,028$21,147$17,076$13,717$10,969
20 years$29,908$24,186$19,407$15,466$12,252$9,657
21 years$28,185$22,529$17,851$14,036$10,964$8,517
22 years$26,620$21,030$16,452$12,762$9,828$7,522
23 years$25,193$19,669$15,191$11,623$8,822$6,652
24 years$23,887$18,428$14,049$10,601$7,929$5,889
25 years$22,688$17,294$13,012$9,681$7,135$5,219
26 years$21,582$16,254$12,068$8,852$6,427$4,629
27 years$20,560$15,296$11,206$8,102$5,795$4,108
28 years$19,613$14,414$10,418$7,423$5,229$3,649
29 years$18,733$13,598$9,695$6,807$4,721$3,243
30 years$17,913$12,842$9,030$6,248$4,266$2,883
31 years$17,147$12,140$8,419$5,738$3,857$2,565
32 years$16,431$11,487$7,855$5,273$3,489$2,283
33 years$15,760$10,878$7,334$4,849$3,157$2,032
34 years$15,129$10,310$6,852$4,462$2,859$1,810
35 years$14,536$9,779$6,407$4,107$2,589$1,612
36 years$13,976$9,281$5,993$3,783$2,346$1,436
37 years$13,449$8,815$5,609$3,485$2,126$1,280
38 years$12,950$8,378$5,253$3,212$1,928$1,141
39 years$12,478$7,966$4,922$2,962$1,748$1,017
40 years$12,031$7,579$4,613$2,732$1,585$907
41 years$11,607$7,215$4,325$2,521$1,438$809
42 years$11,204$6,871$4,057$2,326$1,305$722
43 years$10,820$6,547$3,807$2,147$1,185$644
44 years$10,456$6,240$3,574$1,983$1,075$574
45 years$10,108$5,951$3,356$1,831$976$512
46 years$9,777$5,677$3,152$1,691$886$457
47 years$9,460$5,417$2,961$1,563$805$408
48 years$9,158$5,172$2,783$1,444$731$364
49 years$8,869$4,939$2,615$1,335$664$325
50 years$8,592$4,718$2,459$1,233$603$290

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 $4,563 every year, while hoping to spend $35,088 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: 63/23/14 Blend
60$8,800,000$8,800,000$8,800,000$8,800,000
61$9,702,307$9,235,907$9,099,507$10,280,501
62$10,654,609$9,651,133$9,367,007$11,083,905
63$11,702,869$10,085,529$9,642,292$11,956,402
64$12,856,840$10,539,997$9,925,587$12,908,294
65$14,127,264$11,015,484$10,217,120$13,947,302
66$15,525,980$11,512,978$10,517,129$15,081,917
67$17,066,035$12,033,518$10,825,857$16,321,483
68$18,761,801$12,578,192$11,143,555$17,676,277
69$20,629,119$13,148,138$11,470,478$19,157,608
70$22,685,443$13,744,550$11,806,893$20,777,921
71$24,950,004$14,368,679$12,153,070$22,550,908
72$27,443,996$15,021,836$12,509,289$24,491,640
73$30,190,772$15,705,394$12,875,839$26,616,703
74$33,216,065$16,420,792$13,253,013$28,944,353
75$36,548,231$17,169,539$13,641,117$31,494,685
76$40,218,518$17,953,214$14,040,462$34,289,818
77$44,261,359$18,773,473$14,451,369$37,354,105
78$48,714,698$19,632,053$14,874,170$40,714,354
79$53,620,345$20,530,772$15,309,203$44,400,082
80$59,024,375$21,471,535$15,756,817$48,443,788
81$64,977,562$22,456,341$16,217,370$52,881,254
82$71,535,854$23,487,282$16,691,233$57,751,882
83$78,760,905$24,566,552$17,178,783$63,099,060
84$86,720,655$25,696,452$17,680,410$68,970,569
85$95,489,974$26,879,389$18,196,515$75,419,025
86$105,151,362$28,117,891$18,727,510$82,502,376
87$115,795,737$29,414,604$19,273,818$90,284,442
88$127,523,285$30,772,302$19,835,873$98,835,509
89$140,444,409$32,193,893$20,414,123$108,232,994
90$154,680,770$33,682,426$21,009,028$118,562,164
91$170,366,438$35,241,093$21,621,060$129,916,935
92$187,649,153$36,873,245$22,250,704$142,400,757
93$206,691,723$38,582,391$22,898,459$156,127,580
94$227,673,559$40,372,209$23,564,838$171,222,924
95$250,792,371$42,246,555$24,250,368$187,825,058
96$276,266,028$44,209,472$24,955,591$206,086,293
97$304,334,622$46,265,196$25,681,063$226,174,419
98$335,262,732$48,418,168$26,427,356$248,274,277
99$369,341,917$50,673,045$27,195,059$272,589,492
100$406,893,473$53,034,705$27,984,775$299,344,395