Can I retire at age 61 with 7,000,000?

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 $7,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$578,053$572,904$567,881$562,978$558,190$552,590
2 years$286,165$280,836$275,670$270,662$265,805$260,165
3 years$188,882$183,529$178,377$173,416$168,637$163,132
4 years$140,249$134,913$129,813$124,936$120,274$114,946
5 years$111,078$105,774$100,740$95,963$91,430$86,295
6 years$91,636$86,372$81,413$76,743$72,346$67,409
7 years$77,755$72,535$67,655$63,094$58,836$54,101
8 years$67,349$62,176$57,376$52,928$48,810$44,276
9 years$59,259$54,135$49,418$45,083$41,105$36,770
10 years$52,792$47,718$43,084$38,862$35,024$30,885
11 years$47,503$42,480$37,930$33,822$30,122$26,176
12 years$43,099$38,128$33,662$29,666$26,103$22,347
13 years$39,376$34,457$30,075$26,191$22,762$19,191
14 years$36,187$31,320$27,023$23,249$19,953$16,562
15 years$33,426$28,611$24,398$20,734$17,568$14,352
16 years$31,013$26,250$22,120$18,565$15,527$12,481
17 years$28,885$24,176$20,128$16,681$13,767$10,885
18 years$26,996$22,339$18,375$15,033$12,241$9,517
19 years$25,308$20,704$16,821$13,583$10,911$8,340
20 years$23,791$19,239$15,438$12,302$9,746$7,321
21 years$22,420$17,921$14,200$11,165$8,721$6,438
22 years$21,175$16,728$13,087$10,152$7,817$5,669
23 years$20,040$15,645$12,084$9,245$7,017$4,998
24 years$19,001$14,659$11,175$8,432$6,307$4,411
25 years$18,047$13,757$10,351$7,701$5,676$3,897
26 years$17,168$12,929$9,600$7,041$5,112$3,445
27 years$16,355$12,168$8,914$6,445$4,609$3,048
28 years$15,601$11,466$8,287$5,905$4,159$2,699
29 years$14,901$10,816$7,712$5,415$3,756$2,391
30 years$14,249$10,215$7,183$4,970$3,393$2,119
31 years$13,640$9,657$6,697$4,564$3,068$1,879
32 years$13,070$9,137$6,248$4,195$2,775$1,666
33 years$12,536$8,653$5,834$3,857$2,512$1,478
34 years$12,034$8,201$5,451$3,549$2,274$1,312
35 years$11,562$7,779$5,096$3,267$2,060$1,165
36 years$11,118$7,383$4,767$3,009$1,866$1,035
37 years$10,698$7,012$4,462$2,772$1,691$919
38 years$10,301$6,664$4,179$2,555$1,533$816
39 years$9,926$6,337$3,915$2,356$1,390$725
40 years$9,570$6,029$3,669$2,173$1,261$645
41 years$9,233$5,739$3,441$2,005$1,144$573
42 years$8,912$5,466$3,228$1,850$1,038$509
43 years$8,607$5,208$3,029$1,708$942$453
44 years$8,317$4,964$2,843$1,577$855$402
45 years$8,041$4,734$2,669$1,457$776$358
46 years$7,777$4,516$2,507$1,345$705$318
47 years$7,525$4,309$2,355$1,243$640$283
48 years$7,285$4,114$2,213$1,149$581$252
49 years$7,055$3,928$2,080$1,062$528$224
50 years$6,834$3,753$1,956$981$480$199

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $7,000,000, adding $6,883 every year, while hoping to spend $29,745 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: 30/49/21 Blend
60$7,000,000$7,000,000$7,000,000$7,000,000
61$7,721,100$7,350,100$7,241,600$7,901,863
62$8,477,004$7,678,606$7,452,545$8,368,792
63$9,309,013$8,022,213$7,669,560$8,867,632
64$10,224,858$8,381,627$7,892,816$9,403,672
65$11,233,059$8,757,593$8,122,491$9,980,146
66$12,343,003$9,150,886$8,358,766$10,600,597
67$13,565,032$9,562,322$8,601,828$11,268,905
68$14,910,544$9,992,755$8,851,868$11,989,317
69$16,392,097$10,443,078$9,109,083$12,766,488
70$18,023,530$10,914,228$9,373,677$13,605,518
71$19,820,092$11,407,186$9,645,856$14,511,998
72$21,798,585$11,922,982$9,925,836$15,492,058
73$23,977,525$12,462,693$10,213,836$16,552,422
74$26,377,314$13,027,446$10,510,081$17,700,464
75$29,020,436$13,618,427$10,814,805$18,944,275
76$31,931,664$14,236,873$11,128,244$20,292,734
77$35,138,298$14,884,085$11,450,645$21,755,587
78$38,670,422$15,561,422$11,782,259$23,343,535
79$42,561,184$16,270,311$12,123,344$25,068,326
80$46,847,116$17,012,247$12,474,167$26,942,862
81$51,568,470$17,788,796$12,835,000$28,981,316
82$56,769,605$18,601,598$13,206,123$31,199,258
83$62,499,402$19,452,374$13,587,826$33,613,793
84$68,811,727$20,342,926$13,980,404$36,243,721
85$75,765,936$21,275,142$14,384,160$39,109,702
86$83,427,440$22,251,003$14,799,408$42,234,446
87$91,868,319$23,272,582$15,226,468$45,642,919
88$101,168,003$24,342,054$15,665,670$49,362,569
89$111,414,022$25,461,697$16,117,353$53,423,579
90$122,702,831$26,633,899$16,581,863$57,859,140
91$135,140,723$27,861,164$17,059,559$62,705,757
92$148,844,830$29,146,113$17,550,807$68,003,581
93$163,944,228$30,491,498$18,055,984$73,796,780
94$180,581,157$31,900,199$18,575,478$80,133,944
95$198,912,363$33,375,237$19,109,684$87,068,532
96$219,110,578$34,919,778$19,659,013$94,659,366
97$241,366,149$36,537,139$20,223,882$102,971,170
98$265,888,837$38,230,799$20,804,722$112,075,174
99$292,909,794$40,004,404$21,401,976$122,049,766
100$322,683,747$41,861,775$22,016,097$132,981,221