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%15.2%
1 years$602,827$597,458$592,219$587,105$582,112$569,661
2 years$298,429$292,871$287,485$282,262$277,196$264,712
3 years$196,977$191,395$186,022$180,848$175,865$163,738
4 years$146,260$140,695$135,376$130,291$125,428$113,752
5 years$115,838$110,307$105,057$100,076$95,349$84,156
6 years$95,564$90,074$84,902$80,031$75,446$64,749
7 years$81,087$75,644$70,554$65,798$61,358$51,158
8 years$70,235$64,841$59,835$55,197$50,902$41,196
9 years$61,799$56,456$51,536$47,015$42,867$33,648
10 years$55,054$49,763$44,930$40,528$36,525$27,784
11 years$49,539$44,301$39,556$35,271$31,413$23,139
12 years$44,947$39,762$35,105$30,938$27,221$19,401
13 years$41,064$35,933$31,364$27,313$23,738$16,358
14 years$37,738$32,662$28,181$24,246$20,808$13,854
15 years$34,859$29,838$25,443$21,623$18,321$11,778
16 years$32,342$27,376$23,068$19,361$16,192$10,043
17 years$30,123$25,212$20,991$17,396$14,357$8,587
18 years$28,153$23,297$19,162$15,677$12,766$7,358
19 years$26,393$21,591$17,542$14,165$11,378$6,316
20 years$24,810$20,064$16,099$12,830$10,163$5,430
21 years$23,381$18,689$14,808$11,644$9,095$4,675
22 years$22,082$17,445$13,648$10,587$8,153$4,030
23 years$20,899$16,316$12,602$9,642$7,318$3,477
24 years$19,816$15,287$11,654$8,794$6,578$3,002
25 years$18,821$14,346$10,794$8,031$5,919$2,594
26 years$17,904$13,483$10,011$7,343$5,332$2,243
27 years$17,056$12,689$9,296$6,721$4,807$1,940
28 years$16,270$11,957$8,642$6,158$4,337$1,679
29 years$15,540$11,280$8,042$5,647$3,916$1,454
30 years$14,860$10,653$7,491$5,183$3,539$1,259
31 years$14,225$10,070$6,984$4,760$3,199$1,091
32 years$13,630$9,529$6,516$4,374$2,894$946
33 years$13,073$9,024$6,084$4,023$2,619$820
34 years$12,550$8,552$5,684$3,701$2,371$711
35 years$12,058$8,112$5,314$3,407$2,148$616
36 years$11,594$7,699$4,972$3,138$1,946$534
37 years$11,156$7,313$4,653$2,891$1,764$463
38 years$10,743$6,950$4,358$2,665$1,599$402
39 years$10,351$6,608$4,083$2,457$1,450$349
40 years$9,980$6,287$3,827$2,266$1,315$303
41 years$9,628$5,985$3,588$2,091$1,193$263
42 years$9,294$5,700$3,366$1,930$1,083$228
43 years$8,976$5,431$3,158$1,781$983$198
44 years$8,673$5,177$2,965$1,645$892$172
45 years$8,385$4,936$2,784$1,519$810$149
46 years$8,110$4,709$2,615$1,403$735$129
47 years$7,848$4,494$2,456$1,296$668$112
48 years$7,597$4,290$2,308$1,198$606$97
49 years$7,357$4,097$2,170$1,107$551$84
50 years$7,127$3,913$2,040$1,023$500$73

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 $3,564 every year, while hoping to spend $55,838 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: 33/45/22 Blend
60$7,300,000$7,300,000$7,300,000$7,300,000
61$8,048,276$7,661,376$7,548,226$8,259,397
62$8,809,789$7,977,373$7,741,681$8,733,460
63$9,647,105$8,306,981$7,939,744$9,238,702
64$10,567,897$8,650,810$8,142,513$9,782,087
65$11,580,618$9,009,496$8,350,083$10,367,011
66$12,694,583$9,383,703$8,562,552$10,997,199
67$13,920,053$9,774,127$8,780,021$11,676,733
68$15,268,337$10,181,497$9,002,589$12,410,092
69$16,751,891$10,606,574$9,230,360$13,202,189
70$18,384,442$11,050,155$9,463,435$14,058,416
71$20,181,115$11,513,072$9,701,920$14,984,690
72$22,158,574$11,996,199$9,945,920$15,987,507
73$24,335,183$12,500,446$10,195,543$17,074,000
74$26,731,173$13,026,770$10,450,895$18,252,002
75$29,368,839$13,576,168$10,712,086$19,530,118
76$32,272,746$14,149,686$10,979,227$20,917,798
77$35,469,963$14,748,417$11,252,427$22,425,429
78$38,990,316$15,373,506$11,531,800$24,064,423
79$42,866,671$16,026,150$11,817,458$25,847,323
80$47,135,243$16,707,604$12,109,515$27,787,917
81$51,835,939$17,419,178$12,408,085$29,901,363
82$57,012,733$18,162,245$12,713,284$32,204,326
83$62,714,080$18,938,243$13,025,227$34,715,134
84$68,993,374$19,748,676$13,344,030$37,453,940
85$75,909,454$20,595,117$13,669,811$40,442,910
86$83,527,156$21,479,214$14,002,687$43,706,428
87$91,917,923$22,402,693$14,342,774$47,271,317
88$101,160,484$23,367,358$14,690,190$51,167,086
89$111,341,596$24,375,101$15,045,054$55,426,203
90$122,556,857$25,427,899$15,407,482$60,084,396
91$134,911,615$26,527,825$15,777,591$65,180,981
92$148,521,958$27,677,046$16,155,498$70,759,223
93$163,515,811$28,877,835$16,541,321$76,866,744
94$180,034,142$30,132,567$16,935,173$83,555,955
95$198,232,294$31,443,732$17,337,171$90,884,551
96$218,281,449$32,813,937$17,747,428$98,916,041
97$240,370,247$34,245,909$18,166,056$107,720,338
98$264,706,560$35,742,507$18,593,168$117,374,413
99$291,519,462$37,306,723$19,028,871$127,963,007
100$321,061,384$38,941,689$19,473,276$139,579,425