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

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$660,633$654,748$649,007$643,403$637,931$627,105
2 years$327,046$320,955$315,052$309,328$303,777$292,903
3 years$215,865$209,748$203,859$198,190$192,728$182,145
4 years$160,285$154,187$148,357$142,785$137,456$127,245
5 years$126,946$120,884$115,131$109,672$104,492$94,683
6 years$104,727$98,711$93,043$87,706$82,681$73,285
7 years$88,863$82,897$77,319$72,108$67,241$58,261
8 years$76,970$71,058$65,573$60,489$55,783$47,217
9 years$67,725$61,869$56,478$51,524$46,978$38,820
10 years$60,333$54,535$49,239$44,414$40,027$32,272
11 years$54,289$48,549$43,349$38,653$34,425$27,064
12 years$49,256$43,575$38,471$33,904$29,832$22,855
13 years$45,001$39,379$34,371$29,932$26,014$19,410
14 years$41,357$35,794$30,883$26,571$22,804$16,562
15 years$38,201$32,699$27,883$23,696$20,078$14,187
16 years$35,443$30,001$25,280$21,217$17,745$12,192
17 years$33,012$27,629$23,004$19,064$15,734$10,507
18 years$30,853$25,531$21,000$17,180$13,990$9,075
19 years$28,924$23,662$19,224$15,524$12,470$7,854
20 years$27,189$21,988$17,643$14,060$11,138$6,809
21 years$25,622$20,481$16,228$12,760$9,967$5,911
22 years$24,200$19,118$14,957$11,602$8,934$5,138
23 years$22,903$17,881$13,810$10,566$8,020$4,471
24 years$21,716$16,753$12,772$9,637$7,208$3,894
25 years$20,625$15,722$11,829$8,801$6,487$3,395
26 years$19,620$14,776$10,971$8,047$5,843$2,961
27 years$18,691$13,906$10,188$7,366$5,268$2,584
28 years$17,830$13,103$9,471$6,749$4,753$2,257
29 years$17,030$12,362$8,813$6,189$4,292$1,972
30 years$16,285$11,674$8,209$5,680$3,878$1,723
31 years$15,589$11,036$7,653$5,216$3,506$1,507
32 years$14,937$10,442$7,141$4,794$3,172$1,318
33 years$14,327$9,889$6,667$4,408$2,870$1,153
34 years$13,753$9,373$6,229$4,056$2,599$1,009
35 years$13,214$8,890$5,824$3,734$2,354$883
36 years$12,706$8,438$5,448$3,439$2,133$773
37 years$12,226$8,014$5,100$3,168$1,933$677
38 years$11,773$7,616$4,775$2,920$1,752$592
39 years$11,344$7,242$4,474$2,693$1,589$519
40 years$10,937$6,890$4,194$2,484$1,441$454
41 years$10,552$6,559$3,932$2,291$1,308$398
42 years$10,185$6,246$3,689$2,115$1,187$349
43 years$9,837$5,952$3,461$1,952$1,077$305
44 years$9,505$5,673$3,249$1,803$977$267
45 years$9,189$5,410$3,051$1,665$887$234
46 years$8,888$5,161$2,865$1,538$806$205
47 years$8,600$4,925$2,692$1,421$732$180
48 years$8,325$4,702$2,530$1,313$664$158
49 years$8,062$4,490$2,378$1,213$603$138
50 years$7,811$4,289$2,235$1,121$548$121

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $8,000,000, adding $3,298 every year, while hoping to spend $58,514 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: 36/39/25 Blend
60$8,000,000$8,000,000$8,000,000$8,000,000
61$8,819,402$8,395,402$8,271,402$9,070,381
62$9,656,722$8,744,518$8,486,235$9,605,113
63$10,577,489$9,108,780$8,706,305$10,176,409
64$11,590,150$9,488,868$8,931,723$10,792,022
65$12,704,016$9,885,493$9,162,607$11,455,967
66$13,929,344$10,299,401$9,399,073$12,172,648
67$15,277,436$10,731,370$9,641,240$12,946,898
68$16,760,742$11,182,215$9,889,230$13,784,022
69$18,392,984$11,652,789$10,143,165$14,689,844
70$20,189,278$12,143,986$10,403,170$15,670,758
71$22,166,280$12,656,737$10,669,373$16,733,788
72$24,342,344$13,192,020$10,941,900$17,886,646
73$26,737,692$13,750,858$11,220,883$19,137,809
74$29,374,607$14,334,321$11,506,453$20,496,588
75$32,277,642$14,943,528$11,798,744$21,973,216
76$35,473,852$15,579,651$12,097,892$23,578,941
77$38,993,048$16,243,917$12,404,035$25,326,128
78$42,868,079$16,937,609$12,717,310$27,228,370
79$47,135,141$17,662,070$13,037,858$29,300,612
80$51,834,122$18,418,708$13,365,823$31,559,290
81$57,008,971$19,208,993$13,701,347$34,022,481
82$62,708,120$20,034,467$14,044,575$36,710,066
83$68,984,935$20,896,743$14,395,655$39,643,914
84$75,898,223$21,797,509$14,754,735$42,848,085
85$83,512,787$22,738,532$15,121,964$46,349,049
86$91,900,035$23,721,663$15,497,493$50,175,931
87$101,138,653$24,748,840$15,881,474$54,360,780
88$111,315,352$25,822,089$16,274,060$58,938,865
89$122,525,682$26,943,536$16,675,405$63,949,001
90$134,874,935$28,115,402$17,085,664$69,433,911
91$148,479,138$29,340,016$17,504,993$75,440,616
92$163,466,149$30,619,816$17,933,549$82,020,880
93$179,976,862$31,957,353$18,371,490$89,231,682
94$198,166,539$33,355,301$18,818,971$97,135,752
95$218,206,273$34,816,456$19,276,153$105,802,153
96$240,284,601$36,343,752$19,743,193$115,306,921
97$264,609,290$37,940,255$20,220,249$125,733,777
98$291,409,290$39,609,180$20,707,480$137,174,908
99$320,936,900$41,353,892$21,205,043$149,731,824
100$353,470,148$43,177,917$21,713,097$163,516,306