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%16.2%
1 years$578,053$572,904$567,881$562,978$558,190$544,033
2 years$286,165$280,836$275,670$270,662$265,805$251,634
3 years$188,882$183,529$178,377$173,416$168,637$154,896
4 years$140,249$134,913$129,813$124,936$120,274$107,067
5 years$111,078$105,774$100,740$95,963$91,430$78,795
6 years$91,636$86,372$81,413$76,743$72,346$60,295
7 years$77,755$72,535$67,655$63,094$58,836$47,371
8 years$67,349$62,176$57,376$52,928$48,810$37,925
9 years$59,259$54,135$49,418$45,083$41,105$30,790
10 years$52,792$47,718$43,084$38,862$35,024$25,267
11 years$47,503$42,480$37,930$33,822$30,122$20,909
12 years$43,099$38,128$33,662$29,666$26,103$17,418
13 years$39,376$34,457$30,075$26,191$22,762$14,587
14 years$36,187$31,320$27,023$23,249$19,953$12,271
15 years$33,426$28,611$24,398$20,734$17,568$10,359
16 years$31,013$26,250$22,120$18,565$15,527$8,771
17 years$28,885$24,176$20,128$16,681$13,767$7,445
18 years$26,996$22,339$18,375$15,033$12,241$6,332
19 years$25,308$20,704$16,821$13,583$10,911$5,395
20 years$23,791$19,239$15,438$12,302$9,746$4,604
21 years$22,420$17,921$14,200$11,165$8,721$3,933
22 years$21,175$16,728$13,087$10,152$7,817$3,364
23 years$20,040$15,645$12,084$9,245$7,017$2,880
24 years$19,001$14,659$11,175$8,432$6,307$2,467
25 years$18,047$13,757$10,351$7,701$5,676$2,115
26 years$17,168$12,929$9,600$7,041$5,112$1,814
27 years$16,355$12,168$8,914$6,445$4,609$1,557
28 years$15,601$11,466$8,287$5,905$4,159$1,336
29 years$14,901$10,816$7,712$5,415$3,756$1,148
30 years$14,249$10,215$7,183$4,970$3,393$986
31 years$13,640$9,657$6,697$4,564$3,068$847
32 years$13,070$9,137$6,248$4,195$2,775$728
33 years$12,536$8,653$5,834$3,857$2,512$626
34 years$12,034$8,201$5,451$3,549$2,274$538
35 years$11,562$7,779$5,096$3,267$2,060$463
36 years$11,118$7,383$4,767$3,009$1,866$398
37 years$10,698$7,012$4,462$2,772$1,691$342
38 years$10,301$6,664$4,179$2,555$1,533$294
39 years$9,926$6,337$3,915$2,356$1,390$253
40 years$9,570$6,029$3,669$2,173$1,261$218
41 years$9,233$5,739$3,441$2,005$1,144$187
42 years$8,912$5,466$3,228$1,850$1,038$161
43 years$8,607$5,208$3,029$1,708$942$139
44 years$8,317$4,964$2,843$1,577$855$119
45 years$8,041$4,734$2,669$1,457$776$103
46 years$7,777$4,516$2,507$1,345$705$88
47 years$7,525$4,309$2,355$1,243$640$76
48 years$7,285$4,114$2,213$1,149$581$65
49 years$7,055$3,928$2,080$1,062$528$56
50 years$6,834$3,753$1,956$981$480$48

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 $5,179 every year, while hoping to spend $46,501 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: 49/25/26 Blend
60$7,000,000$7,000,000$7,000,000$7,000,000
61$7,719,342$7,348,342$7,239,842$8,040,432
62$8,457,238$7,658,934$7,432,900$8,576,100
63$9,268,841$7,983,187$7,630,867$9,152,690
64$10,161,620$8,321,720$7,833,858$9,778,213
65$11,143,805$8,675,183$8,041,991$10,457,314
66$12,224,461$9,044,256$8,255,387$11,195,099
67$13,413,580$9,429,648$8,474,166$11,997,182
68$14,722,170$9,832,105$8,698,455$12,869,736
69$16,162,358$10,252,405$8,928,380$13,819,549
70$17,747,509$10,691,364$9,164,071$14,854,086
71$19,492,348$11,149,833$9,405,661$15,981,557
72$21,413,100$11,628,708$9,653,283$17,210,994
73$23,527,643$12,128,922$9,907,075$18,552,334
74$25,855,678$12,651,455$10,167,178$20,016,508
75$28,418,912$13,197,330$10,433,732$21,615,545
76$31,241,263$13,767,621$10,706,884$23,362,681
77$34,349,087$14,363,450$10,986,781$25,272,482
78$37,771,428$14,985,993$11,273,572$27,360,979
79$41,540,288$15,636,481$11,567,411$29,645,817
80$45,690,931$16,316,203$11,868,453$32,146,419
81$50,262,216$17,026,506$12,176,856$34,884,163
82$55,296,962$17,768,806$12,492,781$37,882,585
83$60,842,355$18,544,580$12,816,392$41,167,596
84$66,950,389$19,355,377$13,147,854$44,767,723
85$73,678,358$20,202,821$13,487,337$48,714,375
86$81,089,400$21,088,608$13,835,012$53,042,136
87$89,253,087$22,014,519$14,191,053$57,789,089
88$98,246,087$22,982,414$14,555,638$62,997,167
89$108,152,881$23,994,246$14,928,946$68,712,550
90$119,066,568$25,052,058$15,311,158$74,986,093
91$131,089,737$26,157,987$15,702,461$81,873,805
92$144,335,438$27,314,277$16,103,042$89,437,367
93$158,928,249$28,523,273$16,513,090$97,744,716
94$175,005,451$29,787,433$16,932,798$106,870,679
95$192,718,322$31,109,333$17,362,363$116,897,670
96$212,233,569$32,491,668$17,801,980$127,916,468
97$233,734,898$33,937,265$18,251,851$140,027,065
98$257,424,747$35,449,081$18,712,178$153,339,605
99$283,526,202$37,030,216$19,183,166$167,975,418
100$312,285,094$38,683,916$19,665,022$184,068,156