Can I retire at age 61 with 7,200,000?

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 $7,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$594,569$589,273$584,106$579,063$574,138$567,906
2 years$294,341$288,859$283,547$278,396$273,399$267,124
3 years$194,278$188,773$183,473$178,371$173,456$167,333
4 years$144,257$138,768$133,522$128,506$123,710$117,786
5 years$114,251$108,796$103,618$98,705$94,042$88,335
6 years$94,255$88,840$83,739$78,935$74,413$68,928
7 years$79,977$74,608$69,587$64,897$60,517$55,259
8 years$69,273$63,953$59,016$54,440$50,205$45,172
9 years$60,953$55,682$50,830$46,371$42,280$37,470
10 years$54,300$49,081$44,315$39,972$36,025$31,435
11 years$48,860$43,694$39,014$34,788$30,982$26,610
12 years$44,331$39,217$34,624$30,514$26,849$22,688
13 years$40,501$35,441$30,934$26,939$23,413$19,459
14 years$37,221$32,215$27,795$23,913$20,523$16,771
15 years$34,381$29,429$25,095$21,327$18,070$14,514
16 years$31,899$27,000$22,752$19,096$15,971$12,603
17 years$29,711$24,866$20,704$17,157$14,161$10,977
18 years$27,768$22,978$18,900$15,462$12,591$9,584
19 years$26,031$21,296$17,302$13,971$11,223$8,386
20 years$24,471$19,789$15,879$12,654$10,024$7,351
21 years$23,060$18,433$14,605$11,484$8,971$6,454
22 years$21,780$17,206$13,461$10,442$8,041$5,675
23 years$20,613$16,092$12,429$9,509$7,218$4,995
24 years$19,544$15,078$11,495$8,673$6,488$4,402
25 years$18,563$14,150$10,646$7,921$5,838$3,883
26 years$17,658$13,298$9,874$7,242$5,259$3,427
27 years$16,822$12,515$9,169$6,629$4,741$3,028
28 years$16,047$11,793$8,524$6,074$4,278$2,676
29 years$15,327$11,125$7,932$5,570$3,863$2,367
30 years$14,656$10,507$7,388$5,112$3,490$2,094
31 years$14,030$9,932$6,888$4,695$3,156$1,854
32 years$13,444$9,398$6,427$4,314$2,854$1,642
33 years$12,894$8,900$6,000$3,968$2,583$1,454
34 years$12,378$8,435$5,606$3,650$2,339$1,289
35 years$11,893$8,001$5,242$3,360$2,118$1,142
36 years$11,435$7,594$4,903$3,095$1,919$1,012
37 years$11,004$7,212$4,590$2,852$1,740$898
38 years$10,596$6,854$4,298$2,628$1,577$796
39 years$10,209$6,518$4,027$2,423$1,430$706
40 years$9,844$6,201$3,774$2,235$1,297$626
41 years$9,496$5,903$3,539$2,062$1,177$556
42 years$9,167$5,622$3,320$1,903$1,068$493
43 years$8,853$5,356$3,115$1,757$969$438
44 years$8,555$5,106$2,924$1,622$880$388
45 years$8,270$4,869$2,746$1,498$799$345
46 years$7,999$4,645$2,579$1,384$725$306
47 years$7,740$4,432$2,423$1,279$658$272
48 years$7,493$4,231$2,277$1,181$598$241
49 years$7,256$4,041$2,140$1,092$543$214
50 years$7,030$3,860$2,012$1,009$493$190

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $7,200,000, adding $2,970 every year, while hoping to spend $58,404 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: 73/9/18 Blend
60$7,200,000$7,200,000$7,200,000$7,200,000
61$7,937,464$7,555,864$7,444,264$8,483,317
62$8,684,943$7,863,959$7,631,505$9,154,091
63$9,506,709$8,185,195$7,823,062$9,881,297
64$10,410,275$8,520,151$8,019,016$10,676,428
65$11,403,923$8,869,438$8,219,452$11,546,218
66$12,496,774$9,233,691$8,424,455$12,498,081
67$13,698,879$9,613,577$8,634,109$13,540,183
68$15,021,314$10,009,792$8,848,501$14,681,513
69$16,476,280$10,423,063$9,067,717$15,931,972
70$18,077,220$10,854,152$9,291,845$17,302,464
71$19,838,947$11,303,856$9,520,973$18,804,997
72$21,777,782$11,773,008$9,755,188$20,452,796
73$23,911,710$12,262,479$9,994,581$22,260,427
74$26,260,545$12,773,181$10,239,240$24,243,934
75$28,846,121$13,306,068$10,489,255$26,420,988
76$31,692,496$13,862,136$10,744,716$28,811,053
77$34,826,180$14,442,430$11,005,713$31,435,572
78$38,276,382$15,048,041$11,272,336$34,318,162
79$42,075,290$15,680,112$11,544,677$37,484,842
80$46,258,370$16,339,838$11,822,824$40,964,273
81$50,864,704$17,028,470$12,106,868$44,788,029
82$55,937,355$17,747,316$12,396,899$48,990,894
83$61,523,776$18,497,746$12,693,007$53,611,189
84$67,676,258$19,281,192$12,995,280$58,691,130
85$74,452,421$20,099,155$13,303,806$64,277,229
86$81,915,757$20,953,203$13,618,673$70,420,730
87$90,136,234$21,844,979$13,939,967$77,178,087
88$99,190,948$22,776,202$14,267,775$84,611,502
89$109,164,859$23,748,670$14,602,180$92,789,507
90$120,151,587$24,764,267$14,943,265$101,787,608
91$132,254,296$25,824,963$15,291,111$111,689,000
92$145,586,670$26,932,822$15,645,799$122,585,346
93$160,273,983$28,090,003$16,007,406$134,577,642
94$176,454,282$29,298,766$16,376,007$147,777,170
95$194,279,690$30,561,477$16,751,675$162,306,544
96$213,917,843$31,880,614$17,134,480$178,300,869
97$235,553,469$33,258,770$17,524,491$195,909,007
98$259,390,133$34,698,660$17,921,772$215,294,987
99$285,652,158$36,203,125$18,326,383$236,639,550
100$314,586,743$37,775,143$18,738,381$260,141,848