Can I retire at age 61 with 7,400,000?

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 $7,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$611,085$605,642$600,331$595,148$590,086$567,122
2 years$302,517$296,883$291,423$286,129$280,994$258,135
3 years$199,675$194,016$188,570$183,325$178,274$156,240
4 years$148,264$142,623$137,231$132,076$127,146$106,106
5 years$117,425$111,818$106,497$101,447$96,655$76,661
6 years$96,873$91,308$86,065$81,128$76,480$57,545
7 years$82,198$76,680$71,520$66,700$62,198$44,318
8 years$71,197$65,729$60,655$55,953$51,600$34,755
9 years$62,646$57,229$52,242$47,659$43,454$27,621
10 years$55,808$50,444$45,546$41,083$37,025$22,173
11 years$50,218$44,908$40,098$35,754$31,843$17,938
12 years$45,562$40,307$35,586$31,361$27,594$14,600
13 years$41,626$36,426$31,794$27,687$24,063$11,940
14 years$38,255$33,110$28,567$24,578$21,093$9,803
15 years$35,336$30,246$25,792$21,919$18,572$8,073
16 years$32,785$27,751$23,384$19,626$16,414$6,665
17 years$30,536$25,557$21,279$17,634$14,554$5,514
18 years$28,539$23,616$19,425$15,892$12,941$4,569
19 years$26,754$21,887$17,782$14,360$11,534$3,792
20 years$25,150$20,339$16,320$13,005$10,303$3,150
21 years$23,701$18,945$15,011$11,803$9,220$2,620
22 years$22,385$17,684$13,835$10,732$8,264$2,180
23 years$21,185$16,540$12,774$9,774$7,418$1,815
24 years$20,087$15,496$11,814$8,914$6,668$1,513
25 years$19,078$14,543$10,942$8,141$6,000$1,261
26 years$18,149$13,668$10,148$7,444$5,405$1,051
27 years$17,289$12,863$9,423$6,813$4,873$877
28 years$16,493$12,121$8,760$6,242$4,397$732
29 years$15,753$11,434$8,152$5,724$3,970$611
30 years$15,063$10,799$7,594$5,254$3,587$510
31 years$14,419$10,208$7,079$4,825$3,243$425
32 years$13,817$9,659$6,605$4,434$2,934$355
33 years$13,252$9,147$6,167$4,078$2,655$297
34 years$12,722$8,670$5,762$3,752$2,404$248
35 years$12,223$8,223$5,387$3,454$2,177$207
36 years$11,753$7,805$5,040$3,181$1,973$173
37 years$11,309$7,413$4,717$2,931$1,788$144
38 years$10,890$7,045$4,417$2,701$1,621$121
39 years$10,493$6,699$4,139$2,491$1,470$101
40 years$10,117$6,373$3,879$2,297$1,333$84
41 years$9,760$6,067$3,637$2,120$1,210$70
42 years$9,421$5,778$3,412$1,956$1,098$59
43 years$9,099$5,505$3,202$1,806$996$49
44 years$8,792$5,248$3,005$1,667$904$41
45 years$8,500$5,004$2,822$1,540$821$34
46 years$8,221$4,774$2,650$1,422$745$29
47 years$7,955$4,556$2,490$1,314$677$24
48 years$7,701$4,349$2,340$1,214$615$20
49 years$7,458$4,153$2,199$1,122$558$17
50 years$7,225$3,967$2,068$1,037$507$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $7,400,000, adding $2,037 every year, while hoping to spend $46,573 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: 59/23/18 Blend
60$7,400,000$7,400,000$7,400,000$7,400,000
61$8,156,901$7,764,701$7,650,001$8,599,810
62$8,939,352$8,095,618$7,856,723$9,230,843
63$9,800,051$8,441,189$8,068,809$9,913,404
64$10,746,932$8,802,083$8,286,390$10,656,721
65$11,788,734$9,179,000$8,509,599$11,466,671
66$12,935,087$9,572,673$8,738,572$12,349,717
67$14,196,600$9,983,868$8,973,449$13,312,968
68$15,584,965$10,413,390$9,214,371$14,364,245
69$17,113,064$10,862,078$9,461,484$15,512,155
70$18,795,088$11,330,812$9,714,936$16,766,166
71$20,646,679$11,820,513$9,974,878$18,136,695
72$22,685,069$12,332,147$10,241,465$19,635,210
73$24,929,245$12,866,722$10,514,854$21,274,329
74$27,400,133$13,425,295$10,795,206$23,067,942
75$30,120,786$14,008,974$11,082,684$25,031,335
76$33,116,609$14,618,917$11,377,458$27,181,339
77$36,415,597$15,256,338$11,679,696$29,536,477
78$40,048,596$15,922,507$11,989,574$32,117,146
79$44,049,598$16,618,754$12,307,270$34,945,800
80$48,456,056$17,346,473$12,632,963$38,047,162
81$53,309,246$18,107,122$12,966,839$41,448,453
82$58,654,647$18,902,229$13,309,086$45,179,648
83$64,542,377$19,733,394$13,659,896$49,273,753
84$71,027,661$20,602,292$14,019,465$53,767,117
85$78,171,356$21,510,678$14,387,990$58,699,766
86$86,040,522$22,460,389$14,765,676$64,115,786
87$94,709,058$23,453,350$15,152,728$70,063,724
88$104,258,394$24,491,577$15,549,357$76,597,052
89$114,778,267$25,577,181$15,955,777$83,774,664
90$126,367,561$26,712,373$16,372,207$91,661,426
91$139,135,243$27,899,470$16,798,866$100,328,789
92$153,201,392$29,140,898$17,235,982$109,855,450
93$168,698,330$30,439,198$17,683,783$120,328,101
94$185,771,872$31,797,032$18,142,503$131,842,234
95$204,582,706$33,217,189$18,612,379$144,503,040
96$225,307,900$34,702,590$19,093,652$158,426,397
97$248,142,584$36,256,294$19,586,568$173,739,958
98$273,301,783$37,881,509$20,091,374$190,584,349
99$301,022,454$39,581,591$20,608,323$209,114,492
100$331,565,715$41,360,061$21,137,673$229,501,057