Can I retire at age 61 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$685,406$679,301$673,344$667,531$661,854$647,696
2 years$339,310$332,991$326,866$320,928$315,168$300,974
3 years$223,960$217,613$211,504$205,622$199,956$186,168
4 years$166,296$159,969$153,921$148,139$142,610$129,334
5 years$131,707$125,417$119,449$113,785$108,410$95,684
6 years$108,655$102,413$96,532$90,995$85,781$73,618
7 years$92,195$86,006$80,219$74,812$69,763$58,166
8 years$79,857$73,723$68,032$62,758$57,875$46,840
9 years$70,265$64,189$58,596$53,456$48,739$38,258
10 years$62,596$56,580$51,085$46,079$41,528$31,590
11 years$56,325$50,370$44,975$40,103$35,716$26,308
12 years$51,104$45,209$39,914$35,176$30,950$22,059
13 years$46,689$40,856$35,660$31,055$26,989$18,599
14 years$42,908$37,137$32,041$27,567$23,659$15,752
15 years$39,634$33,925$28,929$24,585$20,831$13,391
16 years$36,772$31,126$26,228$22,013$18,411$11,419
17 years$34,250$28,665$23,867$19,779$16,324$9,763
18 years$32,010$26,488$21,787$17,824$14,515$8,365
19 years$30,008$24,549$19,945$16,106$12,937$7,181
20 years$28,209$22,812$18,305$14,587$11,556$6,174
21 years$26,583$21,249$16,837$13,239$10,341$5,316
22 years$25,107$19,835$15,518$12,037$9,269$4,582
23 years$23,762$18,551$14,328$10,962$8,321$3,953
24 years$22,530$17,381$13,251$9,998$7,479$3,413
25 years$21,399$16,311$12,273$9,131$6,730$2,949
26 years$20,356$15,330$11,382$8,349$6,062$2,550
27 years$19,392$14,427$10,570$7,642$5,465$2,206
28 years$18,499$13,595$9,826$7,002$4,931$1,909
29 years$17,669$12,825$9,144$6,421$4,453$1,653
30 years$16,895$12,112$8,517$5,893$4,024$1,432
31 years$16,173$11,450$7,940$5,412$3,638$1,241
32 years$15,497$10,834$7,408$4,974$3,291$1,075
33 years$14,864$10,260$6,917$4,574$2,978$932
34 years$14,269$9,724$6,463$4,208$2,696$808
35 years$13,710$9,223$6,042$3,874$2,442$701
36 years$13,182$8,754$5,653$3,568$2,213$608
37 years$12,685$8,314$5,291$3,287$2,005$527
38 years$12,214$7,902$4,955$3,030$1,818$457
39 years$11,769$7,514$4,642$2,794$1,649$397
40 years$11,347$7,149$4,351$2,577$1,495$344
41 years$10,947$6,805$4,080$2,377$1,357$299
42 years$10,567$6,481$3,827$2,194$1,231$259
43 years$10,206$6,175$3,591$2,025$1,117$225
44 years$9,862$5,886$3,371$1,870$1,014$195
45 years$9,534$5,613$3,165$1,727$921$169
46 years$9,221$5,354$2,973$1,595$836$147
47 years$8,923$5,110$2,793$1,474$759$128
48 years$8,637$4,878$2,624$1,362$689$111
49 years$8,365$4,658$2,467$1,259$626$96
50 years$8,104$4,450$2,319$1,163$569$83

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $8,300,000, adding $6,228 every year, while hoping to spend $25,497 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: 30/47/23 Blend
60$8,300,000$8,300,000$8,300,000$8,300,000
61$9,153,024$8,713,124$8,584,474$9,362,000
62$10,059,504$9,112,939$8,844,925$9,922,771
63$11,057,590$9,531,489$9,113,247$10,522,930
64$12,156,600$9,969,668$9,389,676$11,168,061
65$13,366,799$10,428,408$9,674,457$11,862,075
66$14,699,501$10,908,688$9,967,839$12,609,254
67$16,167,171$11,411,534$10,270,083$13,414,289
68$17,783,545$11,938,023$10,581,453$14,282,312
69$19,563,760$12,489,279$10,902,226$15,218,950
70$21,524,496$13,066,486$11,232,682$16,230,365
71$23,684,131$13,670,880$11,573,114$17,323,315
72$26,062,920$14,303,760$11,923,820$18,505,205
73$28,683,179$14,966,486$12,285,110$19,784,158
74$31,569,503$15,660,484$12,657,301$21,169,084
75$34,748,992$16,387,248$13,040,720$22,669,756
76$38,251,510$17,148,344$13,435,705$24,296,900
77$42,109,966$17,945,414$13,842,603$26,062,288
78$46,360,624$18,780,181$14,261,771$27,978,842
79$51,043,445$19,654,447$14,693,578$30,060,751
80$56,202,466$20,570,104$15,138,402$32,323,595
81$61,886,213$21,529,136$15,596,635$34,784,489
82$68,148,163$22,533,619$16,068,678$37,462,232
83$75,047,242$23,585,733$16,554,945$40,377,477
84$82,648,388$24,687,761$17,055,864$43,552,920
85$91,023,161$25,842,099$17,571,872$47,013,504
86$100,250,416$27,051,255$18,103,423$50,786,644
87$110,417,053$28,317,860$18,650,982$54,902,477
88$121,618,831$29,644,674$19,215,028$59,394,134
89$133,961,276$31,034,588$19,796,056$64,298,046
90$147,560,677$32,490,633$20,394,574$69,654,274
91$162,545,180$34,015,988$21,011,107$75,506,874
92$179,056,002$35,613,984$21,646,192$81,904,304
93$197,248,760$37,288,116$22,300,386$88,899,865
94$217,294,945$39,042,045$22,974,260$96,552,194
95$239,383,536$40,879,612$23,668,404$104,925,800
96$263,722,785$42,804,841$24,383,424$114,091,661
97$290,542,184$44,821,953$25,119,943$124,127,876
98$320,094,631$46,935,373$25,878,606$135,120,388
99$352,658,818$49,149,741$26,660,074$147,163,777
100$388,541,860$51,469,921$27,465,029$160,362,136