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

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 $7,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$578,053$572,904$567,881$562,978$558,190$551,901
2 years$286,165$280,836$275,670$270,662$265,805$259,474
3 years$188,882$183,529$178,377$173,416$168,637$162,461
4 years$140,249$134,913$129,813$124,936$120,274$114,299
5 years$111,078$105,774$100,740$95,963$91,430$85,675
6 years$91,636$86,372$81,413$76,743$72,346$66,817
7 years$77,755$72,535$67,655$63,094$58,836$53,536
8 years$67,349$62,176$57,376$52,928$48,810$43,739
9 years$59,259$54,135$49,418$45,083$41,105$36,260
10 years$52,792$47,718$43,084$38,862$35,024$30,402
11 years$47,503$42,480$37,930$33,822$30,122$25,719
12 years$43,099$38,128$33,662$29,666$26,103$21,914
13 years$39,376$34,457$30,075$26,191$22,762$18,783
14 years$36,187$31,320$27,023$23,249$19,953$16,178
15 years$33,426$28,611$24,398$20,734$17,568$13,991
16 years$31,013$26,250$22,120$18,565$15,527$12,141
17 years$28,885$24,176$20,128$16,681$13,767$10,567
18 years$26,996$22,339$18,375$15,033$12,241$9,219
19 years$25,308$20,704$16,821$13,583$10,911$8,061
20 years$23,791$19,239$15,438$12,302$9,746$7,061
21 years$22,420$17,921$14,200$11,165$8,721$6,195
22 years$21,175$16,728$13,087$10,152$7,817$5,443
23 years$20,040$15,645$12,084$9,245$7,017$4,788
24 years$19,001$14,659$11,175$8,432$6,307$4,216
25 years$18,047$13,757$10,351$7,701$5,676$3,715
26 years$17,168$12,929$9,600$7,041$5,112$3,277
27 years$16,355$12,168$8,914$6,445$4,609$2,893
28 years$15,601$11,466$8,287$5,905$4,159$2,555
29 years$14,901$10,816$7,712$5,415$3,756$2,258
30 years$14,249$10,215$7,183$4,970$3,393$1,996
31 years$13,640$9,657$6,697$4,564$3,068$1,765
32 years$13,070$9,137$6,248$4,195$2,775$1,562
33 years$12,536$8,653$5,834$3,857$2,512$1,382
34 years$12,034$8,201$5,451$3,549$2,274$1,224
35 years$11,562$7,779$5,096$3,267$2,060$1,084
36 years$11,118$7,383$4,767$3,009$1,866$960
37 years$10,698$7,012$4,462$2,772$1,691$851
38 years$10,301$6,664$4,179$2,555$1,533$754
39 years$9,926$6,337$3,915$2,356$1,390$668
40 years$9,570$6,029$3,669$2,173$1,261$592
41 years$9,233$5,739$3,441$2,005$1,144$525
42 years$8,912$5,466$3,228$1,850$1,038$465
43 years$8,607$5,208$3,029$1,708$942$413
44 years$8,317$4,964$2,843$1,577$855$366
45 years$8,041$4,734$2,669$1,457$776$324
46 years$7,777$4,516$2,507$1,345$705$288
47 years$7,525$4,309$2,355$1,243$640$255
48 years$7,285$4,114$2,213$1,149$581$226
49 years$7,055$3,928$2,080$1,062$528$201
50 years$6,834$3,753$1,956$981$480$178

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $7,000,000, adding $6,695 every year, while hoping to spend $52,616 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: 62/27/11 Blend
60$7,000,000$7,000,000$7,000,000$7,000,000
61$7,720,906$7,349,906$7,241,406$8,179,631
62$8,452,455$7,654,068$7,428,010$8,791,858
63$9,256,859$7,971,371$7,619,102$9,453,194
64$10,141,493$8,302,403$7,814,776$10,173,761
65$11,114,484$8,647,779$8,015,129$10,959,295
66$12,184,784$9,008,143$8,220,259$11,816,108
67$13,362,258$9,384,168$8,430,264$12,751,142
68$14,657,776$9,776,559$8,645,245$13,772,033
69$16,083,312$10,186,054$8,865,304$14,887,186
70$17,652,062$10,613,422$9,090,543$16,105,844
71$19,378,564$11,059,472$9,321,068$17,438,182
72$21,278,838$11,525,047$9,556,985$18,895,397
73$23,370,536$12,011,030$9,798,400$20,489,812
74$25,673,106$12,518,346$10,045,422$22,234,988
75$28,207,979$13,047,962$10,298,160$24,145,856
76$30,998,771$13,600,890$10,556,726$26,238,849
77$34,071,501$14,178,189$10,821,232$28,532,058
78$37,454,842$14,780,967$11,091,791$31,045,400
79$41,180,386$15,410,386$11,368,517$33,800,803
80$45,282,949$16,067,658$11,651,525$36,822,410
81$49,800,891$16,754,054$11,940,933$40,136,806
82$54,776,484$17,470,905$12,236,856$43,773,260
83$60,256,309$18,219,603$12,539,414$47,764,009
84$66,291,693$19,001,604$12,848,725$52,144,546
85$72,939,198$19,818,435$13,164,910$56,953,963
86$80,261,149$20,671,691$13,488,087$62,235,310
87$88,326,227$21,563,045$13,818,379$68,035,999
88$97,210,115$22,494,246$14,155,907$74,408,249
89$106,996,208$23,467,127$14,500,792$81,409,573
90$117,776,410$24,483,604$14,853,156$89,103,320
91$129,651,989$25,545,686$15,213,123$97,559,264
92$142,734,543$26,655,475$15,580,813$106,854,262
93$157,147,045$27,815,173$15,956,350$117,072,973
94$173,025,011$29,027,083$16,339,854$128,308,652
95$190,517,772$30,293,620$16,731,449$140,664,026
96$209,789,886$31,617,309$17,131,255$154,252,260
97$231,022,695$33,000,798$17,539,392$169,198,014
98$254,416,028$34,446,856$17,955,980$185,638,621
99$280,190,096$35,958,384$18,381,138$203,725,371
100$308,587,563$37,538,422$18,814,984$223,624,937