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%16%
1 years$594,569$589,273$584,106$579,063$574,138$560,031
2 years$294,341$288,859$283,547$278,396$273,399$259,274
3 years$194,278$188,773$183,473$178,371$173,456$159,753
4 years$144,257$138,768$133,522$128,506$123,710$110,536
5 years$114,251$108,796$103,618$98,705$94,042$81,434
6 years$94,255$88,840$83,739$78,935$74,413$62,382
7 years$79,977$74,608$69,587$64,897$60,517$49,066
8 years$69,273$63,953$59,016$54,440$50,205$39,328
9 years$60,953$55,682$50,830$46,371$42,280$31,968
10 years$54,300$49,081$44,315$39,972$36,025$26,266
11 years$48,860$43,694$39,014$34,788$30,982$21,763
12 years$44,331$39,217$34,624$30,514$26,849$18,153
13 years$40,501$35,441$30,934$26,939$23,413$15,224
14 years$37,221$32,215$27,795$23,913$20,523$12,824
15 years$34,381$29,429$25,095$21,327$18,070$10,841
16 years$31,899$27,000$22,752$19,096$15,971$9,192
17 years$29,711$24,866$20,704$17,157$14,161$7,814
18 years$27,768$22,978$18,900$15,462$12,591$6,656
19 years$26,031$21,296$17,302$13,971$11,223$5,680
20 years$24,471$19,789$15,879$12,654$10,024$4,854
21 years$23,060$18,433$14,605$11,484$8,971$4,153
22 years$21,780$17,206$13,461$10,442$8,041$3,558
23 years$20,613$16,092$12,429$9,509$7,218$3,050
24 years$19,544$15,078$11,495$8,673$6,488$2,617
25 years$18,563$14,150$10,646$7,921$5,838$2,247
26 years$17,658$13,298$9,874$7,242$5,259$1,931
27 years$16,822$12,515$9,169$6,629$4,741$1,659
28 years$16,047$11,793$8,524$6,074$4,278$1,427
29 years$15,327$11,125$7,932$5,570$3,863$1,227
30 years$14,656$10,507$7,388$5,112$3,490$1,056
31 years$14,030$9,932$6,888$4,695$3,156$909
32 years$13,444$9,398$6,427$4,314$2,854$782
33 years$12,894$8,900$6,000$3,968$2,583$674
34 years$12,378$8,435$5,606$3,650$2,339$580
35 years$11,893$8,001$5,242$3,360$2,118$500
36 years$11,435$7,594$4,903$3,095$1,919$430
37 years$11,004$7,212$4,590$2,852$1,740$371
38 years$10,596$6,854$4,298$2,628$1,577$320
39 years$10,209$6,518$4,027$2,423$1,430$275
40 years$9,844$6,201$3,774$2,235$1,297$237
41 years$9,496$5,903$3,539$2,062$1,177$204
42 years$9,167$5,622$3,320$1,903$1,068$176
43 years$8,853$5,356$3,115$1,757$969$152
44 years$8,555$5,106$2,924$1,622$880$131
45 years$8,270$4,869$2,746$1,498$799$113
46 years$7,999$4,645$2,579$1,384$725$97
47 years$7,740$4,432$2,423$1,279$658$84
48 years$7,493$4,231$2,277$1,181$598$72
49 years$7,256$4,041$2,140$1,092$543$62
50 years$7,030$3,860$2,012$1,009$493$54

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 $5,148 every year, while hoping to spend $32,798 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: 46/32/22 Blend
60$7,200,000$7,200,000$7,200,000$7,200,000
61$7,939,710$7,558,110$7,446,510$8,254,646
62$8,714,664$7,893,561$7,661,071$8,811,687
63$9,567,563$8,244,349$7,881,721$9,412,038
64$10,506,325$8,611,192$8,108,629$10,062,728
65$11,539,671$8,994,841$8,341,969$10,768,471
66$12,677,211$9,396,082$8,581,918$11,534,444
67$13,929,536$9,815,740$8,828,662$12,366,332
68$15,308,315$10,254,677$9,082,388$13,270,385
69$16,826,405$10,713,798$9,343,290$14,253,467
70$18,497,974$11,194,051$9,611,567$15,323,123
71$20,338,635$11,696,426$9,887,421$16,487,648
72$22,365,590$12,221,965$10,171,064$17,756,158
73$24,597,795$12,771,757$10,462,710$19,138,678
74$27,056,139$13,346,942$10,762,580$20,646,230
75$29,763,639$13,948,716$11,070,900$22,290,934
76$32,745,659$14,578,332$11,387,904$24,086,121
77$36,030,149$15,237,103$11,713,831$26,046,456
78$39,647,906$15,926,402$12,048,926$28,188,066
79$43,632,868$16,647,672$12,393,442$30,528,698
80$48,022,434$17,402,422$12,747,636$33,087,874
81$52,857,815$18,192,233$13,111,774$35,887,078
82$58,184,424$19,018,764$13,486,130$38,949,948
83$64,052,302$19,883,750$13,870,982$42,302,499
84$70,516,595$20,789,013$14,266,619$45,973,360
85$77,638,072$21,736,458$14,673,334$49,994,045
86$85,483,696$22,728,085$15,091,432$54,399,238
87$94,127,260$23,765,988$15,521,221$59,227,119
88$103,650,080$24,852,361$15,963,022$64,519,720
89$114,141,766$25,989,505$16,417,161$70,323,312
90$125,701,064$27,179,828$16,883,974$76,688,836
91$138,436,791$28,425,859$17,363,805$83,672,381
92$152,468,860$29,730,242$17,857,009$91,335,702
93$167,929,413$31,095,753$18,363,948$99,746,797
94$184,964,067$32,525,299$18,884,995$108,980,546
95$203,733,291$34,021,927$19,420,530$119,119,401
96$224,413,916$35,588,831$19,970,948$130,254,164
97$247,200,809$37,229,358$20,536,649$142,484,833
98$272,308,711$38,947,016$21,118,046$155,921,534
99$299,974,262$40,745,482$21,715,562$170,685,556
100$330,458,236$42,628,610$22,329,633$186,910,484