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%18.7%
1 years$734,954$728,407$722,020$715,786$709,698$684,790
2 years$363,838$357,062$350,495$344,128$337,952$313,119
3 years$240,150$233,344$226,794$220,486$214,410$190,433
4 years$178,317$171,533$165,048$158,848$152,919$129,980
5 years$141,228$134,484$128,084$122,010$116,247$94,407
6 years$116,509$109,816$103,511$97,573$91,982$71,258
7 years$98,860$92,223$86,018$80,220$74,806$55,193
8 years$85,629$79,052$72,950$67,294$62,059$43,542
9 years$75,344$68,829$62,832$57,320$52,263$34,817
10 years$67,121$60,670$54,778$49,410$44,530$28,127
11 years$60,397$54,011$48,226$43,002$38,298$22,904
12 years$54,798$48,477$42,799$37,718$33,188$18,767
13 years$50,064$43,809$38,238$33,300$28,940$15,453
14 years$46,010$39,821$34,357$29,560$25,369$12,776
15 years$42,499$36,377$31,020$26,362$22,337$10,597
16 years$39,430$33,376$28,124$23,604$19,741$8,812
17 years$36,726$30,738$25,592$21,208$17,504$7,344
18 years$34,324$28,403$23,362$19,113$15,564$6,132
19 years$32,178$26,324$21,387$17,270$13,872$5,127
20 years$30,248$24,461$19,628$15,642$12,391$4,292
21 years$28,505$22,785$18,054$14,196$11,089$3,597
22 years$26,922$21,269$16,639$12,907$9,939$3,017
23 years$25,479$19,892$15,363$11,755$8,922$2,532
24 years$24,159$18,638$14,209$10,721$8,019$2,127
25 years$22,946$17,490$13,160$9,791$7,216$1,787
26 years$21,828$16,438$12,205$8,952$6,500$1,502
27 years$20,794$15,470$11,334$8,194$5,860$1,263
28 years$19,836$14,578$10,536$7,508$5,288$1,063
29 years$18,946$13,752$9,805$6,885$4,775$894
30 years$18,117$12,988$9,133$6,319$4,314$752
31 years$17,342$12,278$8,514$5,803$3,901$633
32 years$16,618$11,617$7,944$5,333$3,528$533
33 years$15,939$11,002$7,417$4,904$3,193$449
34 years$15,301$10,427$6,930$4,512$2,891$378
35 years$14,701$9,890$6,479$4,154$2,619$318
36 years$14,135$9,387$6,061$3,826$2,373$268
37 years$13,602$8,915$5,673$3,525$2,150$226
38 years$13,097$8,473$5,313$3,249$1,949$190
39 years$12,620$8,057$4,977$2,996$1,768$160
40 years$12,168$7,665$4,665$2,763$1,604$135
41 years$11,739$7,297$4,375$2,549$1,455$114
42 years$11,331$6,949$4,104$2,353$1,320$96
43 years$10,943$6,621$3,851$2,172$1,198$81
44 years$10,574$6,311$3,614$2,005$1,087$68
45 years$10,223$6,018$3,394$1,852$987$57
46 years$9,888$5,741$3,188$1,711$896$48
47 years$9,568$5,479$2,995$1,580$814$41
48 years$9,262$5,230$2,814$1,460$739$34
49 years$8,969$4,995$2,645$1,350$671$29
50 years$8,690$4,771$2,487$1,248$610$24

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 $6,837 every year, while hoping to spend $31,354 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: 47/26/27 Blend
60$8,900,000$8,900,000$8,900,000$8,900,000
61$9,814,852$9,343,152$9,205,202$10,199,930
62$10,782,607$9,767,606$9,480,216$10,896,493
63$11,848,022$10,211,808$9,763,392$11,648,558
64$13,021,025$10,676,691$10,054,971$12,464,334
65$14,312,556$11,163,236$10,355,199$13,349,825
66$15,734,670$11,672,468$10,664,331$14,311,625
67$17,300,650$12,205,462$10,982,630$15,356,981
68$19,025,133$12,763,347$11,310,365$16,493,855
69$20,924,247$13,347,301$11,647,813$17,731,001
70$23,015,765$13,958,564$11,995,260$19,078,043
71$25,319,272$14,598,432$12,352,999$20,545,558
72$27,856,347$15,268,265$12,721,334$22,145,179
73$30,650,770$15,969,486$13,100,575$23,889,699
74$33,728,747$16,703,589$13,491,042$25,793,187
75$37,119,153$17,472,138$13,893,066$27,871,116
76$40,853,807$18,276,774$14,306,984$30,140,511
77$44,967,774$19,119,214$14,733,147$32,620,098
78$49,499,692$20,001,261$15,171,912$35,330,481
79$54,492,140$20,924,802$15,623,651$38,294,332
80$59,992,037$21,891,816$16,088,742$41,536,597
81$66,051,087$22,904,377$16,567,577$45,084,732
82$72,726,266$23,964,660$17,060,559$48,968,952
83$80,080,359$25,074,942$17,568,101$53,222,513
84$88,182,554$26,237,612$18,090,631$57,882,020
85$97,109,093$27,455,175$18,628,587$62,987,769
86$106,943,996$28,730,253$19,182,419$68,584,117
87$117,779,846$30,065,598$19,752,593$74,719,898
88$129,718,671$31,464,093$20,339,586$81,448,875
89$142,872,903$32,928,761$20,943,889$88,830,243
90$157,366,438$34,462,770$21,566,009$96,929,179
91$173,335,810$36,069,441$22,206,465$105,817,450
92$190,931,475$37,752,256$22,865,794$115,574,082
93$210,319,233$39,514,864$23,544,545$126,286,099
94$231,681,794$41,361,091$24,243,287$138,049,336
95$255,220,501$43,294,949$24,962,601$150,969,333
96$281,157,232$45,320,641$25,703,088$165,162,323
97$309,736,493$47,442,576$26,465,365$180,756,322
98$341,227,727$49,665,374$27,250,066$197,892,322
99$375,927,857$51,993,879$28,057,846$216,725,615
100$414,164,091$54,433,171$28,889,375$237,427,247