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%17.7%
1 years$611,085$605,642$600,331$595,148$590,086$571,655
2 years$302,517$296,883$291,423$286,129$280,994$262,588
3 years$199,675$194,016$188,570$183,325$178,274$160,472
4 years$148,264$142,623$137,231$132,076$127,146$110,085
5 years$117,425$111,818$106,497$101,447$96,655$80,379
6 years$96,873$91,308$86,065$81,128$76,480$61,004
7 years$82,198$76,680$71,520$66,700$62,198$47,521
8 years$71,197$65,729$60,655$55,953$51,600$37,711
9 years$62,646$57,229$52,242$47,659$43,454$30,340
10 years$55,808$50,444$45,546$41,083$37,025$24,665
11 years$50,218$44,908$40,098$35,754$31,843$20,215
12 years$45,562$40,307$35,586$31,361$27,594$16,674
13 years$41,626$36,426$31,794$27,687$24,063$13,824
14 years$38,255$33,110$28,567$24,578$21,093$11,509
15 years$35,336$30,246$25,792$21,919$18,572$9,613
16 years$32,785$27,751$23,384$19,626$16,414$8,053
17 years$30,536$25,557$21,279$17,634$14,554$6,761
18 years$28,539$23,616$19,425$15,892$12,941$5,687
19 years$26,754$21,887$17,782$14,360$11,534$4,791
20 years$25,150$20,339$16,320$13,005$10,303$4,042
21 years$23,701$18,945$15,011$11,803$9,220$3,414
22 years$22,385$17,684$13,835$10,732$8,264$2,886
23 years$21,185$16,540$12,774$9,774$7,418$2,441
24 years$20,087$15,496$11,814$8,914$6,668$2,067
25 years$19,078$14,543$10,942$8,141$6,000$1,750
26 years$18,149$13,668$10,148$7,444$5,405$1,483
27 years$17,289$12,863$9,423$6,813$4,873$1,257
28 years$16,493$12,121$8,760$6,242$4,397$1,066
29 years$15,753$11,434$8,152$5,724$3,970$905
30 years$15,063$10,799$7,594$5,254$3,587$768
31 years$14,419$10,208$7,079$4,825$3,243$651
32 years$13,817$9,659$6,605$4,434$2,934$553
33 years$13,252$9,147$6,167$4,078$2,655$469
34 years$12,722$8,670$5,762$3,752$2,404$398
35 years$12,223$8,223$5,387$3,454$2,177$338
36 years$11,753$7,805$5,040$3,181$1,973$287
37 years$11,309$7,413$4,717$2,931$1,788$244
38 years$10,890$7,045$4,417$2,701$1,621$207
39 years$10,493$6,699$4,139$2,491$1,470$176
40 years$10,117$6,373$3,879$2,297$1,333$150
41 years$9,760$6,067$3,637$2,120$1,210$127
42 years$9,421$5,778$3,412$1,956$1,098$108
43 years$9,099$5,505$3,202$1,806$996$92
44 years$8,792$5,248$3,005$1,667$904$78
45 years$8,500$5,004$2,822$1,540$821$66
46 years$8,221$4,774$2,650$1,422$745$56
47 years$7,955$4,556$2,490$1,314$677$48
48 years$7,701$4,349$2,340$1,214$615$41
49 years$7,458$4,153$2,199$1,122$558$34
50 years$7,225$3,967$2,068$1,037$507$29

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 $3,947 every year, while hoping to spend $42,081 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: 45/30/25 Blend
60$7,400,000$7,400,000$7,400,000$7,400,000
61$8,158,871$7,766,671$7,651,971$8,466,953
62$8,946,302$8,102,464$7,863,539$9,021,147
63$9,812,641$8,453,301$8,080,783$9,617,400
64$10,765,891$8,819,874$8,303,850$10,263,213
65$11,814,873$9,202,908$8,532,889$10,963,225
66$12,969,302$9,603,163$8,768,054$11,722,534
67$14,239,887$10,021,433$9,009,499$12,546,740
68$15,638,424$10,458,552$9,257,386$13,441,998
69$17,177,913$10,915,392$9,511,879$14,415,069
70$18,872,678$11,392,863$9,773,144$15,473,389
71$20,738,501$11,891,924$10,041,355$16,625,129
72$22,792,774$12,413,574$10,316,686$17,879,273
73$25,054,659$12,958,861$10,599,317$19,245,701
74$27,545,273$13,528,884$10,889,433$20,735,278
75$30,287,883$14,124,792$11,187,221$22,359,953
76$33,308,129$14,747,788$11,492,874$24,132,869
77$36,634,262$15,399,134$11,806,590$26,068,483
78$40,297,415$16,080,150$12,128,569$28,182,703
79$44,331,894$16,792,219$12,459,019$30,493,029
80$48,775,499$17,536,791$12,798,148$33,018,717
81$53,669,888$18,315,381$13,146,174$35,780,958
82$59,060,962$19,129,580$13,503,316$38,803,071
83$64,999,303$19,981,052$13,869,800$42,110,724
84$71,540,649$20,871,541$14,245,855$45,732,165
85$78,746,423$21,802,874$14,631,719$49,698,488
86$86,684,307$22,776,964$15,027,630$54,043,923
87$95,428,886$23,795,815$15,433,836$58,806,151
88$105,062,350$24,861,527$15,850,587$64,026,654
89$115,675,268$25,976,301$16,278,141$69,751,107
90$127,367,446$27,142,440$16,716,759$76,029,795
91$140,248,865$28,362,359$17,166,709$82,918,086
92$154,440,722$29,638,587$17,628,266$90,476,951
93$170,076,572$30,973,774$18,101,710$98,773,525
94$187,303,589$32,370,696$18,587,324$107,881,740
95$206,283,958$33,832,263$19,085,402$117,883,013
96$227,196,399$35,361,522$19,596,241$128,867,009
97$250,237,861$36,961,666$20,120,144$140,932,478
98$275,625,377$38,636,040$20,657,423$154,188,180
99$303,598,111$40,388,152$21,208,392$168,753,902
100$334,419,621$42,221,674$21,773,376$184,761,582