Can I retire at age 61 with 7,200,000?

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 $7,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$594,569$589,273$584,106$579,063$574,138$556,428
2 years$294,341$288,859$283,547$278,396$273,399$255,711
3 years$194,278$188,773$183,473$178,371$173,456$156,345
4 years$144,257$138,768$133,522$128,506$123,710$107,308
5 years$114,251$108,796$103,618$98,705$94,042$78,392
6 years$94,255$88,840$83,739$78,935$74,413$59,529
7 years$79,977$74,608$69,587$64,897$60,517$46,399
8 years$69,273$63,953$59,016$54,440$50,205$36,842
9 years$60,953$55,682$50,830$46,371$42,280$29,659
10 years$54,300$49,081$44,315$39,972$36,025$24,126
11 years$48,860$43,694$39,014$34,788$30,982$19,786
12 years$44,331$39,217$34,624$30,514$26,849$16,331
13 years$40,501$35,441$30,934$26,939$23,413$13,549
14 years$37,221$32,215$27,795$23,913$20,523$11,287
15 years$34,381$29,429$25,095$21,327$18,070$9,435
16 years$31,899$27,000$22,752$19,096$15,971$7,909
17 years$29,711$24,866$20,704$17,157$14,161$6,645
18 years$27,768$22,978$18,900$15,462$12,591$5,594
19 years$26,031$21,296$17,302$13,971$11,223$4,716
20 years$24,471$19,789$15,879$12,654$10,024$3,982
21 years$23,060$18,433$14,605$11,484$8,971$3,365
22 years$21,780$17,206$13,461$10,442$8,041$2,847
23 years$20,613$16,092$12,429$9,509$7,218$2,411
24 years$19,544$15,078$11,495$8,673$6,488$2,042
25 years$18,563$14,150$10,646$7,921$5,838$1,731
26 years$17,658$13,298$9,874$7,242$5,259$1,468
27 years$16,822$12,515$9,169$6,629$4,741$1,246
28 years$16,047$11,793$8,524$6,074$4,278$1,057
29 years$15,327$11,125$7,932$5,570$3,863$898
30 years$14,656$10,507$7,388$5,112$3,490$762
31 years$14,030$9,932$6,888$4,695$3,156$647
32 years$13,444$9,398$6,427$4,314$2,854$550
33 years$12,894$8,900$6,000$3,968$2,583$467
34 years$12,378$8,435$5,606$3,650$2,339$397
35 years$11,893$8,001$5,242$3,360$2,118$337
36 years$11,435$7,594$4,903$3,095$1,919$287
37 years$11,004$7,212$4,590$2,852$1,740$244
38 years$10,596$6,854$4,298$2,628$1,577$207
39 years$10,209$6,518$4,027$2,423$1,430$176
40 years$9,844$6,201$3,774$2,235$1,297$150
41 years$9,496$5,903$3,539$2,062$1,177$127
42 years$9,167$5,622$3,320$1,903$1,068$108
43 years$8,853$5,356$3,115$1,757$969$92
44 years$8,555$5,106$2,924$1,622$880$78
45 years$8,270$4,869$2,746$1,498$799$67
46 years$7,999$4,645$2,579$1,384$725$57
47 years$7,740$4,432$2,423$1,279$658$48
48 years$7,493$4,231$2,277$1,181$598$41
49 years$7,256$4,041$2,140$1,092$543$35
50 years$7,030$3,860$2,012$1,009$493$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $7,200,000, adding $4,678 every year, while hoping to spend $37,295 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: 68/18/14 Blend
60$7,200,000$7,200,000$7,200,000$7,200,000
61$7,939,225$7,557,625$7,446,025$8,453,334
62$8,709,345$7,888,267$7,655,786$9,126,901
63$9,556,766$8,233,861$7,871,323$9,858,470
64$10,489,336$8,595,099$8,092,791$10,657,660
65$11,515,697$8,972,708$8,320,349$11,531,110
66$12,645,375$9,367,448$8,554,158$12,486,124
67$13,888,866$9,780,115$8,794,384$13,530,741
68$15,257,733$10,211,544$9,041,199$14,673,810
69$16,764,718$10,662,606$9,294,776$15,925,070
70$18,423,864$11,134,218$9,555,295$17,295,240
71$20,250,640$11,627,336$9,822,939$18,796,121
72$22,262,094$12,142,965$10,097,897$20,440,707
73$24,477,013$12,682,156$10,380,362$22,243,299
74$26,916,095$13,246,008$10,670,531$24,219,647
75$29,602,150$13,835,676$10,968,607$26,387,089
76$32,560,312$14,452,367$11,274,798$28,764,718
77$35,818,277$15,097,346$11,589,317$31,373,560
78$39,406,564$15,771,938$11,912,381$34,236,764
79$43,358,803$16,477,533$12,244,216$37,379,828
80$47,712,053$17,215,584$12,585,049$40,830,828
81$52,507,150$17,987,615$12,935,115$44,620,689
82$57,789,093$18,795,222$13,294,656$48,783,467
83$63,607,470$19,640,078$13,663,916$53,356,673
84$70,016,925$20,523,934$14,043,150$58,381,621
85$77,077,670$21,448,626$14,432,615$63,903,818
86$84,856,061$22,416,077$14,832,576$69,973,389
87$93,425,216$23,428,302$15,243,304$76,645,546
88$102,865,712$24,487,412$15,665,078$83,981,108
89$113,266,338$25,595,618$16,098,181$92,047,070
90$124,724,940$26,755,239$16,542,906$100,917,235
91$137,349,340$27,968,703$16,999,550$110,672,900
92$151,258,357$29,238,553$17,468,419$121,403,630
93$166,582,925$30,567,457$17,949,826$133,208,089
94$183,467,328$31,958,208$18,444,091$146,194,973
95$202,070,569$33,413,734$18,951,542$160,484,033
96$222,567,862$34,937,102$19,472,513$176,207,194
97$245,152,291$36,531,527$20,007,349$193,509,804
98$270,036,631$38,200,377$20,556,401$212,551,994
99$297,455,355$39,947,184$21,120,029$233,510,189
100$327,666,852$41,775,647$21,698,601$256,578,767