Can I retire at age 61 with 7,100,000?

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 $7,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$586,311$581,089$575,993$571,020$566,164$557,014
2 years$290,253$284,847$279,608$274,529$269,602$260,409
3 years$191,580$186,151$180,925$175,893$171,047$162,096
4 years$142,253$136,841$131,667$126,721$121,992$113,353
5 years$112,665$107,285$102,179$97,334$92,736$84,434
6 years$92,945$87,606$82,576$77,839$73,379$65,423
7 years$78,866$73,571$68,621$63,996$59,677$52,070
8 years$68,311$63,064$58,196$53,684$49,508$42,248
9 years$60,106$54,909$50,124$45,727$41,693$34,776
10 years$53,546$48,399$43,699$39,417$35,524$28,946
11 years$48,182$43,087$38,472$34,305$30,552$24,304
12 years$43,715$38,673$34,143$30,090$26,476$20,551
13 years$39,939$34,949$30,505$26,565$23,087$17,477
14 years$36,704$31,768$27,409$23,581$20,238$14,933
15 years$33,904$29,020$24,746$21,030$17,819$12,809
16 years$31,456$26,625$22,436$18,830$15,749$11,023
17 years$29,298$24,521$20,416$16,919$13,964$9,513
18 years$27,382$22,659$18,637$15,247$12,416$8,228
19 years$25,670$21,000$17,061$13,777$11,067$7,132
20 years$24,131$19,514$15,658$12,478$9,885$6,192
21 years$22,740$18,177$14,402$11,325$8,846$5,384
22 years$21,477$16,967$13,274$10,297$7,929$4,687
23 years$20,326$15,869$12,256$9,377$7,118$4,085
24 years$19,273$14,868$11,335$8,553$6,398$3,563
25 years$18,305$13,953$10,498$7,811$5,757$3,111
26 years$17,413$13,114$9,737$7,142$5,186$2,718
27 years$16,589$12,341$9,041$6,537$4,675$2,376
28 years$15,824$11,629$8,405$5,989$4,218$2,078
29 years$15,114$10,971$7,822$5,492$3,809$1,819
30 years$14,453$10,361$7,286$5,041$3,442$1,592
31 years$13,835$9,794$6,792$4,629$3,112$1,394
32 years$13,257$9,268$6,337$4,255$2,815$1,222
33 years$12,715$8,777$5,917$3,912$2,547$1,070
34 years$12,206$8,318$5,529$3,600$2,306$938
35 years$11,728$7,890$5,169$3,314$2,089$823
36 years$11,276$7,488$4,835$3,052$1,893$721
37 years$10,851$7,112$4,526$2,812$1,715$632
38 years$10,448$6,759$4,238$2,592$1,555$555
39 years$10,068$6,427$3,971$2,390$1,410$487
40 years$9,707$6,115$3,722$2,204$1,279$427
41 years$9,364$5,821$3,490$2,034$1,161$375
42 years$9,039$5,544$3,274$1,877$1,053$329
43 years$8,730$5,282$3,072$1,733$956$288
44 years$8,436$5,035$2,883$1,600$867$253
45 years$8,155$4,801$2,707$1,477$788$222
46 years$7,888$4,580$2,543$1,365$715$195
47 years$7,633$4,371$2,389$1,261$649$171
48 years$7,389$4,173$2,245$1,165$590$150
49 years$7,155$3,985$2,110$1,077$536$132
50 years$6,932$3,806$1,984$995$486$116

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $7,100,000, adding $6,972 every year, while hoping to spend $49,080 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: 61/13/26 Blend
60$7,100,000$7,100,000$7,100,000$7,100,000
61$7,831,392$7,455,092$7,345,042$8,254,199
62$8,577,973$7,768,170$7,538,880$8,855,439
63$9,399,060$8,094,945$7,737,567$9,505,469
64$10,302,202$8,436,035$7,941,213$10,213,947
65$11,295,714$8,792,088$8,149,931$10,986,580
66$12,388,759$9,163,782$8,363,835$11,829,652
67$13,591,432$9,551,827$8,583,043$12,750,078
68$14,914,857$9,956,966$8,807,674$13,755,469
69$16,371,290$10,379,974$9,037,849$14,854,201
70$17,974,235$10,821,667$9,273,690$16,055,498
71$19,738,572$11,282,894$9,515,325$17,369,511
72$21,680,698$11,764,547$9,762,879$18,807,418
73$23,818,677$12,267,557$10,016,483$20,381,525
74$26,172,416$12,792,902$10,276,269$22,105,383
75$28,763,850$13,341,602$10,542,372$23,993,911
76$31,617,148$13,914,726$10,814,927$26,063,541
77$34,758,944$14,513,394$11,094,073$28,332,365
78$38,218,583$15,138,777$11,379,952$30,820,308
79$42,028,403$15,792,102$11,672,705$33,549,314
80$46,224,039$16,474,653$11,972,479$36,543,551
81$50,844,754$17,187,775$12,279,421$39,829,637
82$55,933,817$17,932,874$12,593,679$43,436,890
83$61,538,906$18,711,424$12,915,407$47,397,602
84$67,712,559$19,524,968$13,244,757$51,747,341
85$74,512,669$20,375,121$13,581,887$56,525,289
86$82,003,035$21,263,575$13,926,953$61,774,603
87$90,253,955$22,192,101$14,280,116$67,542,825
88$99,342,896$23,162,552$14,641,538$73,882,328
89$109,355,226$24,176,871$15,011,384$80,850,805
90$120,385,013$25,237,092$15,389,819$88,511,814
91$132,535,918$26,345,343$15,777,012$96,935,373
92$145,922,172$27,503,855$16,173,132$106,198,621
93$160,669,653$28,714,963$16,578,351$116,386,540
94$176,917,074$29,981,114$16,992,843$127,592,757
95$194,817,295$31,304,867$17,416,783$139,920,424
96$214,538,761$32,688,908$17,850,347$153,483,186
97$236,267,094$34,136,044$18,293,713$168,406,254
98$260,206,847$35,649,219$18,747,062$184,827,582
99$286,583,431$37,231,516$19,210,574$202,899,166
100$315,645,244$38,886,164$19,684,431$222,788,473