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

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 $7,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$594,569$589,273$584,106$579,063$574,138$556,205
2 years$294,341$288,859$283,547$278,396$273,399$255,491
3 years$194,278$188,773$183,473$178,371$173,456$156,135
4 years$144,257$138,768$133,522$128,506$123,710$107,110
5 years$114,251$108,796$103,618$98,705$94,042$78,207
6 years$94,255$88,840$83,739$78,935$74,413$59,355
7 years$79,977$74,608$69,587$64,897$60,517$46,237
8 years$69,273$63,953$59,016$54,440$50,205$36,692
9 years$60,953$55,682$50,830$46,371$42,280$29,520
10 years$54,300$49,081$44,315$39,972$36,025$23,998
11 years$48,860$43,694$39,014$34,788$30,982$19,668
12 years$44,331$39,217$34,624$30,514$26,849$16,223
13 years$40,501$35,441$30,934$26,939$23,413$13,450
14 years$37,221$32,215$27,795$23,913$20,523$11,198
15 years$34,381$29,429$25,095$21,327$18,070$9,354
16 years$31,899$27,000$22,752$19,096$15,971$7,835
17 years$29,711$24,866$20,704$17,157$14,161$6,578
18 years$27,768$22,978$18,900$15,462$12,591$5,533
19 years$26,031$21,296$17,302$13,971$11,223$4,662
20 years$24,471$19,789$15,879$12,654$10,024$3,933
21 years$23,060$18,433$14,605$11,484$8,971$3,321
22 years$21,780$17,206$13,461$10,442$8,041$2,808
23 years$20,613$16,092$12,429$9,509$7,218$2,375
24 years$19,544$15,078$11,495$8,673$6,488$2,011
25 years$18,563$14,150$10,646$7,921$5,838$1,703
26 years$17,658$13,298$9,874$7,242$5,259$1,443
27 years$16,822$12,515$9,169$6,629$4,741$1,224
28 years$16,047$11,793$8,524$6,074$4,278$1,038
29 years$15,327$11,125$7,932$5,570$3,863$880
30 years$14,656$10,507$7,388$5,112$3,490$747
31 years$14,030$9,932$6,888$4,695$3,156$634
32 years$13,444$9,398$6,427$4,314$2,854$538
33 years$12,894$8,900$6,000$3,968$2,583$457
34 years$12,378$8,435$5,606$3,650$2,339$388
35 years$11,893$8,001$5,242$3,360$2,118$329
36 years$11,435$7,594$4,903$3,095$1,919$280
37 years$11,004$7,212$4,590$2,852$1,740$237
38 years$10,596$6,854$4,298$2,628$1,577$202
39 years$10,209$6,518$4,027$2,423$1,430$171
40 years$9,844$6,201$3,774$2,235$1,297$145
41 years$9,496$5,903$3,539$2,062$1,177$124
42 years$9,167$5,622$3,320$1,903$1,068$105
43 years$8,853$5,356$3,115$1,757$969$89
44 years$8,555$5,106$2,924$1,622$880$76
45 years$8,270$4,869$2,746$1,498$799$64
46 years$7,999$4,645$2,579$1,384$725$55
47 years$7,740$4,432$2,423$1,279$658$46
48 years$7,493$4,231$2,277$1,181$598$39
49 years$7,256$4,041$2,140$1,092$543$34
50 years$7,030$3,860$2,012$1,009$493$28

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 $6,171 every year, while hoping to spend $50,918 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: 63/27/10 Blend
60$7,200,000$7,200,000$7,200,000$7,200,000
61$7,940,765$7,559,165$7,447,565$8,423,129
62$8,696,547$7,875,388$7,642,882$9,062,482
63$9,527,712$8,205,399$7,843,036$9,753,820
64$10,441,895$8,549,821$8,048,135$10,507,391
65$11,447,510$8,909,303$8,258,288$11,329,231
66$12,553,824$9,284,527$8,473,609$12,225,980
67$13,771,050$9,676,205$8,694,211$13,204,941
68$15,110,440$10,085,082$8,920,210$14,274,151
69$16,584,393$10,511,939$9,151,725$15,442,449
70$18,206,568$10,957,591$9,388,875$16,719,564
71$19,992,019$11,422,893$9,631,783$18,116,199
72$21,957,329$11,908,739$9,880,572$19,644,136
73$24,120,773$12,416,064$10,135,368$21,316,341
74$26,502,489$12,945,848$10,396,299$23,147,082
75$29,124,663$13,499,116$10,663,496$25,152,070
76$32,011,746$14,076,939$10,937,090$27,348,595
77$35,190,676$14,680,441$11,217,215$29,755,693
78$38,691,140$15,310,798$11,504,006$32,394,321
79$42,545,848$15,969,239$11,797,602$35,287,550
80$46,790,845$16,657,052$12,098,143$38,460,786
81$51,465,850$17,375,586$12,405,768$41,941,999
82$56,614,628$18,126,251$12,720,623$45,761,990
83$62,285,408$18,910,526$13,042,853$49,954,675
84$68,531,335$19,729,957$13,372,604$54,557,404
85$75,410,971$20,586,164$13,710,025$59,611,308
86$82,988,846$21,480,842$14,055,267$65,161,686
87$91,336,072$22,415,767$14,408,482$71,258,425
88$100,531,010$23,392,798$14,769,825$77,956,472
89$110,660,009$24,413,881$15,139,450$85,316,342
90$121,818,223$25,481,055$15,517,515$93,404,691
91$134,110,509$26,596,453$15,904,178$102,294,938
92$147,652,412$27,762,311$16,299,600$112,067,951
93$162,571,263$28,980,969$16,703,941$122,812,812
94$179,007,372$30,254,877$17,117,364$134,627,642
95$197,115,362$31,586,604$17,540,033$147,620,535
96$217,065,616$32,978,835$17,972,112$161,910,560
97$239,045,899$34,434,388$18,413,767$177,628,888
98$263,263,117$35,956,209$18,865,165$194,920,020
99$289,945,279$37,547,388$19,326,473$213,943,145
100$319,343,646$39,211,158$19,797,858$234,873,637