Can I retire at age 61 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$734,954$728,407$722,020$715,786$709,698$688,913
2 years$363,838$357,062$350,495$344,128$337,952$317,179
3 years$240,150$233,344$226,794$220,486$214,410$194,302
4 years$178,317$171,533$165,048$158,848$152,919$133,629
5 years$141,228$134,484$128,084$122,010$116,247$97,827
6 years$116,509$109,816$103,511$97,573$91,982$74,450
7 years$98,860$92,223$86,018$80,220$74,806$58,161
8 years$85,629$79,052$72,950$67,294$62,059$46,291
9 years$75,344$68,829$62,832$57,320$52,263$37,355
10 years$67,121$60,670$54,778$49,410$44,530$30,464
11 years$60,397$54,011$48,226$43,002$38,298$25,048
12 years$54,798$48,477$42,799$37,718$33,188$20,729
13 years$50,064$43,809$38,238$33,300$28,940$17,244
14 years$46,010$39,821$34,357$29,560$25,369$14,406
15 years$42,499$36,377$31,020$26,362$22,337$12,076
16 years$39,430$33,376$28,124$23,604$19,741$10,152
17 years$36,726$30,738$25,592$21,208$17,504$8,555
18 years$34,324$28,403$23,362$19,113$15,564$7,223
19 years$32,178$26,324$21,387$17,270$13,872$6,108
20 years$30,248$24,461$19,628$15,642$12,391$5,172
21 years$28,505$22,785$18,054$14,196$11,089$4,385
22 years$26,922$21,269$16,639$12,907$9,939$3,721
23 years$25,479$19,892$15,363$11,755$8,922$3,161
24 years$24,159$18,638$14,209$10,721$8,019$2,686
25 years$22,946$17,490$13,160$9,791$7,216$2,285
26 years$21,828$16,438$12,205$8,952$6,500$1,944
27 years$20,794$15,470$11,334$8,194$5,860$1,655
28 years$19,836$14,578$10,536$7,508$5,288$1,409
29 years$18,946$13,752$9,805$6,885$4,775$1,200
30 years$18,117$12,988$9,133$6,319$4,314$1,022
31 years$17,342$12,278$8,514$5,803$3,901$871
32 years$16,618$11,617$7,944$5,333$3,528$743
33 years$15,939$11,002$7,417$4,904$3,193$633
34 years$15,301$10,427$6,930$4,512$2,891$540
35 years$14,701$9,890$6,479$4,154$2,619$460
36 years$14,135$9,387$6,061$3,826$2,373$392
37 years$13,602$8,915$5,673$3,525$2,150$335
38 years$13,097$8,473$5,313$3,249$1,949$285
39 years$12,620$8,057$4,977$2,996$1,768$243
40 years$12,168$7,665$4,665$2,763$1,604$208
41 years$11,739$7,297$4,375$2,549$1,455$177
42 years$11,331$6,949$4,104$2,353$1,320$151
43 years$10,943$6,621$3,851$2,172$1,198$129
44 years$10,574$6,311$3,614$2,005$1,087$110
45 years$10,223$6,018$3,394$1,852$987$94
46 years$9,888$5,741$3,188$1,711$896$80
47 years$9,568$5,479$2,995$1,580$814$68
48 years$9,262$5,230$2,814$1,460$739$58
49 years$8,969$4,995$2,645$1,350$671$50
50 years$8,690$4,771$2,487$1,248$610$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $8,900,000, adding $6,710 every year, while hoping to spend $33,942 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: 68/15/17 Blend
60$8,900,000$8,900,000$8,900,000$8,900,000
61$9,814,721$9,343,021$9,205,071$10,441,599
62$10,779,709$9,764,715$9,477,327$11,282,456
63$11,841,988$10,205,935$9,757,566$12,197,241
64$13,011,445$10,667,601$10,046,019$13,197,005
65$14,298,977$11,150,678$10,342,926$14,290,107
66$15,716,589$11,656,177$10,648,530$15,485,745
67$17,277,509$12,185,158$10,963,084$16,794,043
68$18,996,315$12,738,730$11,286,847$18,226,145
69$20,889,069$13,318,058$11,620,086$19,794,317
70$22,973,470$13,924,358$11,963,075$21,512,064
71$25,269,022$14,558,910$12,316,096$23,394,249
72$27,797,217$15,223,051$12,679,439$25,457,241
73$30,581,736$15,918,184$13,053,404$27,719,059
74$33,648,676$16,645,778$13,438,296$30,199,544
75$37,026,793$17,407,373$13,834,431$32,920,542
76$40,747,776$18,204,585$14,242,135$35,906,111
77$44,846,543$19,039,103$14,661,740$39,182,741
78$49,361,573$19,912,701$15,093,591$42,779,608
79$54,335,267$20,827,238$15,538,040$46,728,839
80$59,814,351$21,784,659$15,995,451$51,065,820
81$65,850,313$22,787,006$16,466,197$55,829,519
82$72,499,893$23,836,417$16,950,662$61,062,860
83$79,825,614$24,935,134$17,449,242$66,813,118
84$87,896,377$26,085,506$17,962,342$73,132,365
85$96,788,108$27,289,995$18,490,380$80,077,958
86$106,584,473$28,551,183$19,033,786$87,713,075
87$117,377,673$29,871,775$19,593,002$96,107,311
88$129,269,309$31,254,605$20,168,481$105,337,328
89$142,371,344$32,702,647$20,760,690$115,487,577
90$156,807,159$34,219,014$21,370,111$126,651,088
91$172,712,715$35,806,972$21,997,236$138,930,347
92$190,237,842$37,469,944$22,642,574$152,438,258
93$209,547,648$39,211,517$23,306,645$167,299,202
94$230,824,078$41,035,451$23,989,988$183,650,209
95$254,267,636$42,945,690$24,693,154$201,642,245
96$280,099,270$44,946,364$25,416,710$221,441,631
97$308,562,466$47,041,806$26,161,240$243,231,608
98$339,925,539$49,236,556$26,927,344$267,214,063
99$374,484,172$51,535,375$27,715,637$293,611,424
100$412,564,201$53,943,252$28,526,755$322,668,759