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

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 $7,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$602,827$597,458$592,219$587,105$582,112$565,291
2 years$298,429$292,871$287,485$282,262$277,196$260,383
3 years$196,977$191,395$186,022$180,848$175,865$159,586
4 years$146,260$140,695$135,376$130,291$125,428$109,809
5 years$115,838$110,307$105,057$100,076$95,349$80,431
6 years$95,564$90,074$84,902$80,031$75,446$61,244
7 years$81,087$75,644$70,554$65,798$61,358$47,872
8 years$70,235$64,841$59,835$55,197$50,902$38,124
9 years$61,799$56,456$51,536$47,015$42,867$30,784
10 years$55,054$49,763$44,930$40,528$36,525$25,120
11 years$49,539$44,301$39,556$35,271$31,413$20,668
12 years$44,947$39,762$35,105$30,938$27,221$17,115
13 years$41,064$35,933$31,364$27,313$23,738$14,248
14 years$37,738$32,662$28,181$24,246$20,808$11,911
15 years$34,859$29,838$25,443$21,623$18,321$9,992
16 years$32,342$27,376$23,068$19,361$16,192$8,406
17 years$30,123$25,212$20,991$17,396$14,357$7,088
18 years$28,153$23,297$19,162$15,677$12,766$5,989
19 years$26,393$21,591$17,542$14,165$11,378$5,069
20 years$24,810$20,064$16,099$12,830$10,163$4,295
21 years$23,381$18,689$14,808$11,644$9,095$3,645
22 years$22,082$17,445$13,648$10,587$8,153$3,095
23 years$20,899$16,316$12,602$9,642$7,318$2,631
24 years$19,816$15,287$11,654$8,794$6,578$2,238
25 years$18,821$14,346$10,794$8,031$5,919$1,905
26 years$17,904$13,483$10,011$7,343$5,332$1,622
27 years$17,056$12,689$9,296$6,721$4,807$1,382
28 years$16,270$11,957$8,642$6,158$4,337$1,177
29 years$15,540$11,280$8,042$5,647$3,916$1,004
30 years$14,860$10,653$7,491$5,183$3,539$856
31 years$14,225$10,070$6,984$4,760$3,199$730
32 years$13,630$9,529$6,516$4,374$2,894$623
33 years$13,073$9,024$6,084$4,023$2,619$531
34 years$12,550$8,552$5,684$3,701$2,371$453
35 years$12,058$8,112$5,314$3,407$2,148$387
36 years$11,594$7,699$4,972$3,138$1,946$330
37 years$11,156$7,313$4,653$2,891$1,764$282
38 years$10,743$6,950$4,358$2,665$1,599$241
39 years$10,351$6,608$4,083$2,457$1,450$205
40 years$9,980$6,287$3,827$2,266$1,315$175
41 years$9,628$5,985$3,588$2,091$1,193$150
42 years$9,294$5,700$3,366$1,930$1,083$128
43 years$8,976$5,431$3,158$1,781$983$109
44 years$8,673$5,177$2,965$1,645$892$93
45 years$8,385$4,936$2,784$1,519$810$80
46 years$8,110$4,709$2,615$1,403$735$68
47 years$7,848$4,494$2,456$1,296$668$58
48 years$7,597$4,290$2,308$1,198$606$50
49 years$7,357$4,097$2,170$1,107$551$42
50 years$7,127$3,913$2,040$1,023$500$36

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 $3,097 every year, while hoping to spend $58,538 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: 75/20/5 Blend
60$7,300,000$7,300,000$7,300,000$7,300,000
61$8,047,795$7,660,895$7,547,745$8,648,507
62$8,806,386$7,973,994$7,738,310$9,356,778
63$9,640,391$8,300,474$7,933,297$10,124,828
64$10,557,441$8,640,928$8,132,793$10,964,684
65$11,565,943$8,995,976$8,336,885$11,883,430
66$12,675,159$9,366,268$8,545,660$12,888,862
67$13,895,294$9,752,484$8,759,208$13,989,562
68$15,237,591$10,155,333$8,977,619$15,194,976
69$16,714,440$10,575,559$9,200,983$16,515,505
70$18,339,489$11,013,938$9,429,393$17,962,598
71$20,127,779$11,471,283$9,662,940$19,548,861
72$22,095,881$11,948,444$9,901,717$21,288,172
73$24,262,054$12,446,311$10,145,818$23,195,816
74$26,646,417$12,965,814$10,395,336$25,288,621
75$29,271,139$13,507,926$10,650,367$27,585,117
76$32,160,646$14,073,665$10,911,005$30,105,714
77$35,341,854$14,664,097$11,177,346$32,872,884
78$38,844,421$15,280,336$11,449,485$35,911,380
79$42,701,027$15,923,548$11,727,518$39,248,462
80$46,947,683$16,594,953$12,011,541$42,914,154
81$51,624,070$17,295,829$12,301,651$46,941,524
82$56,773,911$18,027,510$12,597,942$51,366,996
83$62,445,388$18,791,396$12,900,511$56,230,691
84$68,691,592$19,588,949$13,209,453$61,576,802
85$75,571,028$20,421,701$13,524,863$67,454,007
86$83,148,162$21,291,254$13,846,835$73,915,931
87$91,494,034$22,199,285$14,175,463$81,021,644
88$100,686,925$23,147,549$14,510,841$88,836,219
89$110,813,096$24,137,884$14,853,059$97,431,343
90$121,967,604$25,172,212$15,202,209$106,885,987
91$134,255,197$26,252,548$15,558,380$117,287,153
92$147,791,301$27,380,997$15,921,659$128,730,688
93$162,703,113$28,559,765$16,292,134$141,322,189
94$179,130,798$29,791,161$16,669,889$155,177,990
95$197,228,815$31,077,603$17,055,005$170,426,262
96$217,167,369$32,421,621$17,447,563$187,208,218
97$239,134,025$33,825,864$17,847,640$205,679,439
98$263,335,470$35,293,106$18,255,311$226,011,338
99$289,999,470$36,826,251$18,670,646$248,392,777
100$319,377,017$38,428,339$19,093,714$273,031,844