Can I retire at age 61 with 7,300,000?

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 $7,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$602,827$597,458$592,219$587,105$582,112$566,661
2 years$298,429$292,871$287,485$282,262$277,196$261,737
3 years$196,977$191,395$186,022$180,848$175,865$160,881
4 years$146,260$140,695$135,376$130,291$125,428$111,036
5 years$115,838$110,307$105,057$100,076$95,349$81,587
6 years$95,564$90,074$84,902$80,031$75,446$62,329
7 years$81,087$75,644$70,554$65,798$61,358$48,886
8 years$70,235$64,841$59,835$55,197$50,902$39,069
9 years$61,799$56,456$51,536$47,015$42,867$31,662
10 years$55,054$49,763$44,930$40,528$36,525$25,934
11 years$49,539$44,301$39,556$35,271$31,413$21,419
12 years$44,947$39,762$35,105$30,938$27,221$17,808
13 years$41,064$35,933$31,364$27,313$23,738$14,884
14 years$37,738$32,662$28,181$24,246$20,808$12,494
15 years$34,859$29,838$25,443$21,623$18,321$10,526
16 years$32,342$27,376$23,068$19,361$16,192$8,893
17 years$30,123$25,212$20,991$17,396$14,357$7,532
18 years$28,153$23,297$19,162$15,677$12,766$6,392
19 years$26,393$21,591$17,542$14,165$11,378$5,434
20 years$24,810$20,064$16,099$12,830$10,163$4,627
21 years$23,381$18,689$14,808$11,644$9,095$3,944
22 years$22,082$17,445$13,648$10,587$8,153$3,365
23 years$20,899$16,316$12,602$9,642$7,318$2,874
24 years$19,816$15,287$11,654$8,794$6,578$2,456
25 years$18,821$14,346$10,794$8,031$5,919$2,100
26 years$17,904$13,483$10,011$7,343$5,332$1,797
27 years$17,056$12,689$9,296$6,721$4,807$1,538
28 years$16,270$11,957$8,642$6,158$4,337$1,318
29 years$15,540$11,280$8,042$5,647$3,916$1,129
30 years$14,860$10,653$7,491$5,183$3,539$967
31 years$14,225$10,070$6,984$4,760$3,199$829
32 years$13,630$9,529$6,516$4,374$2,894$711
33 years$13,073$9,024$6,084$4,023$2,619$609
34 years$12,550$8,552$5,684$3,701$2,371$523
35 years$12,058$8,112$5,314$3,407$2,148$448
36 years$11,594$7,699$4,972$3,138$1,946$384
37 years$11,156$7,313$4,653$2,891$1,764$330
38 years$10,743$6,950$4,358$2,665$1,599$283
39 years$10,351$6,608$4,083$2,457$1,450$243
40 years$9,980$6,287$3,827$2,266$1,315$208
41 years$9,628$5,985$3,588$2,091$1,193$179
42 years$9,294$5,700$3,366$1,930$1,083$153
43 years$8,976$5,431$3,158$1,781$983$132
44 years$8,673$5,177$2,965$1,645$892$113
45 years$8,385$4,936$2,784$1,519$810$97
46 years$8,110$4,709$2,615$1,403$735$83
47 years$7,848$4,494$2,456$1,296$668$71
48 years$7,597$4,290$2,308$1,198$606$61
49 years$7,357$4,097$2,170$1,107$551$53
50 years$7,127$3,913$2,040$1,023$500$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $7,300,000, adding $2,397 every year, while hoping to spend $49,026 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: 69/25/6 Blend
60$7,300,000$7,300,000$7,300,000$7,300,000
61$8,047,073$7,660,173$7,547,023$8,595,495
62$8,815,711$7,983,358$7,747,684$9,281,775
63$9,661,107$8,320,736$7,953,425$10,025,971
64$10,591,038$8,672,950$8,164,364$10,838,665
65$11,614,074$9,040,675$8,380,620$11,726,555
66$12,739,657$9,424,616$8,602,318$12,697,014
67$13,978,189$9,825,509$8,829,583$13,758,153
68$15,341,132$10,244,127$9,062,542$14,918,899
69$16,841,117$10,681,278$9,301,326$16,189,074
70$18,492,058$11,137,808$9,546,068$17,579,491
71$20,309,289$11,614,602$9,796,902$19,102,049
72$22,309,706$12,112,586$10,053,968$20,769,847
73$24,511,925$12,632,732$10,317,404$22,597,304
74$26,936,459$13,176,053$10,587,355$24,600,292
75$29,605,911$13,743,613$10,863,965$26,796,287
76$32,545,188$14,336,525$11,147,382$29,204,529
77$35,781,735$14,955,952$11,437,757$31,846,200
78$39,345,793$15,603,115$11,735,243$34,744,626
79$43,270,687$16,279,290$12,039,996$37,925,489
80$47,593,135$16,985,814$12,352,175$41,417,072
81$52,353,602$17,724,086$12,671,940$45,250,519
82$57,596,675$18,495,571$12,999,455$49,460,129
83$63,371,485$19,301,804$13,334,886$54,083,672
84$69,732,174$20,144,390$13,678,403$59,162,750
85$76,738,403$21,025,012$14,030,176$64,743,178
86$84,455,914$21,945,432$14,390,381$70,875,419
87$92,957,153$22,907,493$14,759,194$77,615,054
88$102,321,949$23,913,127$15,136,794$85,023,303
89$112,638,275$24,964,357$15,523,364$93,167,598
90$124,003,070$26,063,302$15,919,087$102,122,219
91$136,523,158$27,212,178$16,324,151$111,968,986
92$150,316,256$28,413,311$16,738,746$122,798,030
93$165,512,084$29,669,133$17,163,064$134,708,638
94$182,253,589$30,982,192$17,597,299$147,810,183
95$200,698,294$32,355,159$18,041,647$162,223,158
96$221,019,786$33,790,828$18,496,309$178,080,299
97$243,409,354$35,292,129$18,961,485$195,527,840
98$268,077,793$36,862,128$19,437,380$214,726,882
99$295,257,395$38,504,039$19,924,199$235,854,911
100$325,204,139$40,221,226$20,422,149$259,107,464