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

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 $7,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$586,311$581,089$575,993$571,020$566,164$549,803
2 years$290,253$284,847$279,608$274,529$269,602$253,249
3 years$191,580$186,151$180,925$175,893$171,047$155,213
4 years$142,253$136,841$131,667$126,721$121,992$106,800
5 years$112,665$107,285$102,179$97,334$92,736$78,227
6 years$92,945$87,606$82,576$77,839$73,379$59,566
7 years$78,866$73,571$68,621$63,996$59,677$46,560
8 years$68,311$63,064$58,196$53,684$49,508$37,080
9 years$60,106$54,909$50,124$45,727$41,693$29,940
10 years$53,546$48,399$43,699$39,417$35,524$24,432
11 years$48,182$43,087$38,472$34,305$30,552$20,101
12 years$43,715$38,673$34,143$30,090$26,476$16,646
13 years$39,939$34,949$30,505$26,565$23,087$13,857
14 years$36,704$31,768$27,409$23,581$20,238$11,584
15 years$33,904$29,020$24,746$21,030$17,819$9,718
16 years$31,456$26,625$22,436$18,830$15,749$8,175
17 years$29,298$24,521$20,416$16,919$13,964$6,894
18 years$27,382$22,659$18,637$15,247$12,416$5,825
19 years$25,670$21,000$17,061$13,777$11,067$4,930
20 years$24,131$19,514$15,658$12,478$9,885$4,178
21 years$22,740$18,177$14,402$11,325$8,846$3,545
22 years$21,477$16,967$13,274$10,297$7,929$3,011
23 years$20,326$15,869$12,256$9,377$7,118$2,559
24 years$19,273$14,868$11,335$8,553$6,398$2,177
25 years$18,305$13,953$10,498$7,811$5,757$1,852
26 years$17,413$13,114$9,737$7,142$5,186$1,577
27 years$16,589$12,341$9,041$6,537$4,675$1,344
28 years$15,824$11,629$8,405$5,989$4,218$1,145
29 years$15,114$10,971$7,822$5,492$3,809$976
30 years$14,453$10,361$7,286$5,041$3,442$832
31 years$13,835$9,794$6,792$4,629$3,112$710
32 years$13,257$9,268$6,337$4,255$2,815$606
33 years$12,715$8,777$5,917$3,912$2,547$517
34 years$12,206$8,318$5,529$3,600$2,306$441
35 years$11,728$7,890$5,169$3,314$2,089$376
36 years$11,276$7,488$4,835$3,052$1,893$321
37 years$10,851$7,112$4,526$2,812$1,715$274
38 years$10,448$6,759$4,238$2,592$1,555$234
39 years$10,068$6,427$3,971$2,390$1,410$200
40 years$9,707$6,115$3,722$2,204$1,279$170
41 years$9,364$5,821$3,490$2,034$1,161$146
42 years$9,039$5,544$3,274$1,877$1,053$124
43 years$8,730$5,282$3,072$1,733$956$106
44 years$8,436$5,035$2,883$1,600$867$91
45 years$8,155$4,801$2,707$1,477$788$77
46 years$7,888$4,580$2,543$1,365$715$66
47 years$7,633$4,371$2,389$1,261$649$56
48 years$7,389$4,173$2,245$1,165$590$48
49 years$7,155$3,985$2,110$1,077$536$41
50 years$6,932$3,806$1,984$995$486$35

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 $5,698 every year, while hoping to spend $57,593 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: 27/44/29 Blend
60$7,100,000$7,100,000$7,100,000$7,100,000
61$7,830,077$7,453,777$7,343,727$7,970,806
62$8,567,467$7,757,734$7,528,464$8,389,821
63$9,378,140$8,074,654$7,717,459$8,834,065
64$10,269,510$8,405,112$7,910,794$9,309,872
65$11,249,747$8,749,709$8,108,552$9,819,975
66$12,327,849$9,109,073$8,310,816$10,367,368
67$13,513,732$9,483,860$8,517,671$10,955,329
68$14,818,321$9,874,758$8,729,201$11,587,450
69$16,253,653$10,282,485$8,945,493$12,267,672
70$17,832,991$10,707,792$9,166,632$13,000,313
71$19,570,947$11,151,465$9,392,706$13,790,109
72$21,483,624$11,614,326$9,623,801$14,642,258
73$23,588,761$12,097,235$9,860,006$15,562,461
74$25,905,907$12,601,092$10,101,409$16,556,976
75$28,456,601$13,126,838$10,348,098$17,632,674
76$31,264,577$13,675,456$10,600,162$18,797,097
77$34,355,987$14,247,976$10,857,690$20,058,528
78$37,759,648$14,845,477$11,120,773$21,426,066
79$41,507,311$15,469,084$11,389,498$22,909,705
80$45,633,965$16,119,978$11,663,954$24,520,428
81$50,178,165$16,799,392$11,944,232$26,270,301
82$55,182,393$17,508,618$12,230,420$28,172,589
83$60,693,464$18,249,006$12,522,605$30,241,870
84$66,762,961$19,021,972$12,820,876$32,494,172
85$73,447,728$19,828,994$13,125,321$34,947,118
86$80,810,403$20,671,620$13,436,025$37,620,085
87$88,920,006$21,551,472$13,753,074$40,534,385
88$97,852,598$22,470,246$14,076,554$43,713,455
89$107,691,991$23,429,716$14,406,546$47,183,079
90$118,530,543$24,431,740$14,743,134$50,971,619
91$130,470,027$25,478,264$15,086,398$55,110,278
92$143,622,593$26,571,323$15,436,415$59,633,390
93$158,111,827$27,713,047$15,793,265$64,578,731
94$174,073,914$28,905,667$16,157,020$69,987,876
95$191,658,926$30,151,517$16,527,753$75,906,576
96$211,032,238$31,453,043$16,905,534$82,385,186
97$232,376,087$32,812,803$17,290,430$89,479,131
98$255,891,293$34,233,476$17,682,505$97,249,418
99$281,799,155$35,717,866$18,081,819$105,763,206
100$310,343,538$37,268,911$18,488,429$115,094,426