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

Use the below retirement simulation to view the chances of a successful retirement.
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%15.9%
1 years$578,053$572,904$567,881$562,978$558,190$544,696
2 years$286,165$280,836$275,670$270,662$265,805$252,291
3 years$188,882$183,529$178,377$173,416$168,637$155,526
4 years$140,249$134,913$129,813$124,936$120,274$107,666
5 years$111,078$105,774$100,740$95,963$91,430$79,361
6 years$91,636$86,372$81,413$76,743$72,346$60,827
7 years$77,755$72,535$67,655$63,094$58,836$47,870
8 years$67,349$62,176$57,376$52,928$48,810$38,392
9 years$59,259$54,135$49,418$45,083$41,105$31,226
10 years$52,792$47,718$43,084$38,862$35,024$25,672
11 years$47,503$42,480$37,930$33,822$30,122$21,285
12 years$43,099$38,128$33,662$29,666$26,103$17,766
13 years$39,376$34,457$30,075$26,191$22,762$14,909
14 years$36,187$31,320$27,023$23,249$19,953$12,567
15 years$33,426$28,611$24,398$20,734$17,568$10,631
16 years$31,013$26,250$22,120$18,565$15,527$9,021
17 years$28,885$24,176$20,128$16,681$13,767$7,674
18 years$26,996$22,339$18,375$15,033$12,241$6,541
19 years$25,308$20,704$16,821$13,583$10,911$5,586
20 years$23,791$19,239$15,438$12,302$9,746$4,778
21 years$22,420$17,921$14,200$11,165$8,721$4,091
22 years$21,175$16,728$13,087$10,152$7,817$3,507
23 years$20,040$15,645$12,084$9,245$7,017$3,009
24 years$19,001$14,659$11,175$8,432$6,307$2,584
25 years$18,047$13,757$10,351$7,701$5,676$2,221
26 years$17,168$12,929$9,600$7,041$5,112$1,909
27 years$16,355$12,168$8,914$6,445$4,609$1,642
28 years$15,601$11,466$8,287$5,905$4,159$1,413
29 years$14,901$10,816$7,712$5,415$3,756$1,217
30 years$14,249$10,215$7,183$4,970$3,393$1,048
31 years$13,640$9,657$6,697$4,564$3,068$903
32 years$13,070$9,137$6,248$4,195$2,775$778
33 years$12,536$8,653$5,834$3,857$2,512$670
34 years$12,034$8,201$5,451$3,549$2,274$578
35 years$11,562$7,779$5,096$3,267$2,060$498
36 years$11,118$7,383$4,767$3,009$1,866$429
37 years$10,698$7,012$4,462$2,772$1,691$370
38 years$10,301$6,664$4,179$2,555$1,533$319
39 years$9,926$6,337$3,915$2,356$1,390$275
40 years$9,570$6,029$3,669$2,173$1,261$237
41 years$9,233$5,739$3,441$2,005$1,144$205
42 years$8,912$5,466$3,228$1,850$1,038$177
43 years$8,607$5,208$3,029$1,708$942$152
44 years$8,317$4,964$2,843$1,577$855$131
45 years$8,041$4,734$2,669$1,457$776$113
46 years$7,777$4,516$2,507$1,345$705$98
47 years$7,525$4,309$2,355$1,243$640$84
48 years$7,285$4,114$2,213$1,149$581$73
49 years$7,055$3,928$2,080$1,062$528$63
50 years$6,834$3,753$1,956$981$480$54

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 $6,963 every year, while hoping to spend $31,580 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: 41/35/24 Blend
60$7,000,000$7,000,000$7,000,000$7,000,000
61$7,721,182$7,350,182$7,241,682$7,982,950
62$8,475,142$7,676,740$7,450,678$8,498,072
63$9,304,947$8,018,241$7,665,616$9,051,761
64$10,218,301$8,375,384$7,886,663$9,650,459
65$11,223,690$8,748,901$8,113,989$10,298,312
66$12,330,468$9,139,558$8,347,769$10,999,870
67$13,548,938$9,548,159$8,588,182$11,760,130
68$14,890,457$9,975,546$8,835,413$12,584,576
69$16,367,536$10,422,600$9,089,652$13,479,232
70$17,993,961$10,890,244$9,351,092$14,450,715
71$19,784,926$11,379,447$9,619,934$15,506,294
72$21,757,170$11,891,221$9,896,383$16,653,955
73$23,929,139$12,426,629$10,180,650$17,902,476
74$26,321,160$12,986,783$10,472,951$19,261,501
75$28,955,632$13,572,849$10,773,508$20,741,636
76$31,857,236$14,186,048$11,082,551$22,354,536
77$35,053,170$14,827,660$11,400,312$24,113,017
78$38,573,404$15,499,025$11,727,032$26,031,174
79$42,450,963$16,201,549$12,062,960$28,124,504
80$46,722,240$16,936,704$12,408,347$30,410,054
81$51,427,337$17,706,031$12,763,456$32,906,575
82$56,610,446$18,511,148$13,128,552$35,634,692
83$62,320,264$19,353,746$13,503,912$38,617,099
84$68,610,454$20,235,603$13,889,815$41,878,761
85$75,540,149$21,158,576$14,286,553$45,447,153
86$83,174,512$22,124,615$14,694,421$49,352,504
87$91,585,353$23,135,761$15,113,725$53,628,086
88$100,851,802$24,194,156$15,544,777$58,310,515
89$111,061,057$25,302,041$15,987,899$63,440,092
90$122,309,211$26,461,768$16,443,420$69,061,178
91$134,702,155$27,675,799$16,911,678$75,222,605
92$148,356,577$28,946,715$17,393,022$81,978,129
93$163,401,067$30,277,223$17,887,807$89,386,933
94$179,977,326$31,670,157$18,396,399$97,514,171
95$198,241,508$33,128,490$18,919,173$106,431,581
96$218,365,692$34,655,335$19,456,515$116,218,150
97$240,539,503$36,253,958$20,008,819$126,960,853
98$264,971,910$37,927,779$20,576,492$138,755,462
99$291,893,190$39,680,385$21,159,949$151,707,442
100$321,557,106$41,515,535$21,759,618$165,932,932