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%19.7%
1 years$726,696$720,223$713,907$707,743$701,724$674,415
2 years$359,750$353,050$346,557$340,261$334,154$306,971
3 years$237,451$230,722$224,245$218,009$212,001$185,799
4 years$176,314$169,605$163,193$157,063$151,201$126,180
5 years$139,641$132,973$126,645$120,639$114,941$91,164
6 years$115,200$108,582$102,348$96,476$90,949$68,432
7 years$97,749$91,187$85,051$79,318$73,966$52,702
8 years$84,667$78,164$72,130$66,538$61,362$41,331
9 years$74,498$68,056$62,126$56,676$51,675$32,847
10 years$66,367$59,988$54,163$48,855$44,030$26,368
11 years$59,718$53,404$47,684$42,519$37,867$21,332
12 years$54,182$47,932$42,318$37,295$32,815$17,362
13 years$49,501$43,317$37,809$32,925$28,615$14,199
14 years$45,493$39,374$33,971$29,228$25,084$11,657
15 years$42,022$35,969$30,671$26,066$22,086$9,600
16 years$38,987$33,001$27,808$23,339$19,520$7,926
17 years$36,313$30,392$25,304$20,970$17,307$6,557
18 years$33,938$28,084$23,100$18,898$15,389$5,434
19 years$31,816$26,028$21,147$17,076$13,717$4,509
20 years$29,908$24,186$19,407$15,466$12,252$3,746
21 years$28,185$22,529$17,851$14,036$10,964$3,115
22 years$26,620$21,030$16,452$12,762$9,828$2,592
23 years$25,193$19,669$15,191$11,623$8,822$2,159
24 years$23,887$18,428$14,049$10,601$7,929$1,799
25 years$22,688$17,294$13,012$9,681$7,135$1,499
26 years$21,582$16,254$12,068$8,852$6,427$1,250
27 years$20,560$15,296$11,206$8,102$5,795$1,043
28 years$19,613$14,414$10,418$7,423$5,229$870
29 years$18,733$13,598$9,695$6,807$4,721$726
30 years$17,913$12,842$9,030$6,248$4,266$606
31 years$17,147$12,140$8,419$5,738$3,857$506
32 years$16,431$11,487$7,855$5,273$3,489$422
33 years$15,760$10,878$7,334$4,849$3,157$353
34 years$15,129$10,310$6,852$4,462$2,859$295
35 years$14,536$9,779$6,407$4,107$2,589$246
36 years$13,976$9,281$5,993$3,783$2,346$205
37 years$13,449$8,815$5,609$3,485$2,126$172
38 years$12,950$8,378$5,253$3,212$1,928$143
39 years$12,478$7,966$4,922$2,962$1,748$120
40 years$12,031$7,579$4,613$2,732$1,585$100
41 years$11,607$7,215$4,325$2,521$1,438$84
42 years$11,204$6,871$4,057$2,326$1,305$70
43 years$10,820$6,547$3,807$2,147$1,185$58
44 years$10,456$6,240$3,574$1,983$1,075$49
45 years$10,108$5,951$3,356$1,831$976$41
46 years$9,777$5,677$3,152$1,691$886$34
47 years$9,460$5,417$2,961$1,563$805$28
48 years$9,158$5,172$2,783$1,444$731$24
49 years$8,869$4,939$2,615$1,335$664$20
50 years$8,592$4,718$2,459$1,233$603$17

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 $5,132 every year, while hoping to spend $20,473 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: 66/20/14 Blend
60$8,800,000$8,800,000$8,800,000$8,800,000
61$9,702,894$9,236,494$9,100,094$10,311,184
62$10,670,806$9,667,299$9,383,164$11,148,722
63$11,736,759$10,118,527$9,675,030$12,060,965
64$12,910,731$10,591,158$9,975,967$13,057,576
65$14,203,718$11,086,217$10,286,255$14,146,811
66$15,627,837$11,604,782$10,606,184$15,337,748
67$17,196,440$12,147,979$10,936,054$16,640,379
68$18,924,238$12,716,992$11,276,174$18,065,698
69$20,827,446$13,313,060$11,626,861$19,625,802
70$22,923,928$13,937,482$11,988,443$21,334,007
71$25,233,372$14,591,622$12,361,259$23,204,965
72$27,777,472$15,276,908$12,745,658$25,254,806
73$30,580,135$15,994,837$13,141,998$27,501,283
74$33,667,704$16,746,979$13,550,650$29,963,940
75$37,069,209$17,534,981$13,971,997$32,664,292
76$40,816,642$18,360,568$14,406,431$35,626,025
77$44,945,253$19,225,550$14,854,360$38,875,217
78$49,493,890$20,131,823$15,316,203$42,440,581
79$54,505,360$21,081,376$15,792,389$46,353,732
80$60,026,839$22,076,295$16,283,366$50,649,482
81$66,110,309$23,118,765$16,789,591$55,366,165
82$72,813,055$24,211,080$17,311,538$60,545,996
83$80,198,207$25,355,643$17,849,694$66,235,464
84$88,335,327$26,554,973$18,404,562$72,485,765
85$97,301,076$27,811,712$18,976,660$79,353,286
86$107,179,932$29,128,632$19,566,524$86,900,126
87$118,064,986$30,508,636$20,174,704$95,194,685
88$130,058,826$31,954,770$20,801,768$104,312,295
89$143,274,500$33,470,228$21,448,301$114,335,935
90$157,836,588$35,058,358$22,114,908$125,357,004
91$173,882,374$36,722,672$22,802,212$137,476,178
92$191,563,143$38,466,850$23,510,853$150,804,355
93$211,045,612$40,294,753$24,241,494$165,463,696
94$232,513,497$42,210,429$24,994,817$181,588,772
95$256,169,255$44,218,121$25,771,525$199,327,825
96$282,235,991$46,322,281$26,572,343$218,844,163
97$310,959,565$48,527,576$27,398,019$240,317,692
98$342,610,911$50,838,898$28,249,323$263,946,606
99$377,488,599$53,261,379$29,127,051$289,949,252
100$415,921,649$55,800,400$30,032,020$318,566,182