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%16.9%
1 years$611,085$605,642$600,331$595,148$590,086$573,496
2 years$302,517$296,883$291,423$286,129$280,994$264,406
3 years$199,675$194,016$188,570$183,325$178,274$162,208
4 years$148,264$142,623$137,231$132,076$127,146$111,726
5 years$117,425$111,818$106,497$101,447$96,655$81,922
6 years$96,873$91,308$86,065$81,128$76,480$62,448
7 years$82,198$76,680$71,520$66,700$62,198$48,868
8 years$71,197$65,729$60,655$55,953$51,600$38,963
9 years$62,646$57,229$52,242$47,659$43,454$31,499
10 years$55,808$50,444$45,546$41,083$37,025$25,736
11 years$50,218$44,908$40,098$35,754$31,843$21,202
12 years$45,562$40,307$35,586$31,361$27,594$17,581
13 years$41,626$36,426$31,794$27,687$24,063$14,655
14 years$38,255$33,110$28,567$24,578$21,093$12,268
15 years$35,336$30,246$25,792$21,919$18,572$10,306
16 years$32,785$27,751$23,384$19,626$16,414$8,683
17 years$30,536$25,557$21,279$17,634$14,554$7,332
18 years$28,539$23,616$19,425$15,892$12,941$6,204
19 years$26,754$21,887$17,782$14,360$11,534$5,259
20 years$25,150$20,339$16,320$13,005$10,303$4,464
21 years$23,701$18,945$15,011$11,803$9,220$3,793
22 years$22,385$17,684$13,835$10,732$8,264$3,226
23 years$21,185$16,540$12,774$9,774$7,418$2,747
24 years$20,087$15,496$11,814$8,914$6,668$2,340
25 years$19,078$14,543$10,942$8,141$6,000$1,995
26 years$18,149$13,668$10,148$7,444$5,405$1,701
27 years$17,289$12,863$9,423$6,813$4,873$1,452
28 years$16,493$12,121$8,760$6,242$4,397$1,239
29 years$15,753$11,434$8,152$5,724$3,970$1,058
30 years$15,063$10,799$7,594$5,254$3,587$904
31 years$14,419$10,208$7,079$4,825$3,243$772
32 years$13,817$9,659$6,605$4,434$2,934$660
33 years$13,252$9,147$6,167$4,078$2,655$564
34 years$12,722$8,670$5,762$3,752$2,404$482
35 years$12,223$8,223$5,387$3,454$2,177$412
36 years$11,753$7,805$5,040$3,181$1,973$352
37 years$11,309$7,413$4,717$2,931$1,788$301
38 years$10,890$7,045$4,417$2,701$1,621$257
39 years$10,493$6,699$4,139$2,491$1,470$220
40 years$10,117$6,373$3,879$2,297$1,333$188
41 years$9,760$6,067$3,637$2,120$1,210$161
42 years$9,421$5,778$3,412$1,956$1,098$138
43 years$9,099$5,505$3,202$1,806$996$118
44 years$8,792$5,248$3,005$1,667$904$101
45 years$8,500$5,004$2,822$1,540$821$86
46 years$8,221$4,774$2,650$1,422$745$74
47 years$7,955$4,556$2,490$1,314$677$63
48 years$7,701$4,349$2,340$1,214$615$54
49 years$7,458$4,153$2,199$1,122$558$46
50 years$7,225$3,967$2,068$1,037$507$39

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 $6,057 every year, while hoping to spend $35,183 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: 82/6/12 Blend
60$7,400,000$7,400,000$7,400,000$7,400,000
61$8,161,048$7,768,848$7,654,148$8,812,322
62$8,956,040$8,112,087$7,873,127$9,583,428
63$9,830,943$8,470,966$8,098,263$10,424,641
64$10,793,869$8,846,213$8,329,725$11,347,213
65$11,853,759$9,238,593$8,567,687$12,359,295
66$13,020,464$9,648,905$8,812,325$13,469,858
67$14,304,837$10,077,988$9,063,824$14,688,788
68$15,718,840$10,526,718$9,322,372$16,026,970
69$17,275,651$10,996,017$9,588,160$17,496,396
70$18,989,791$11,486,845$9,861,388$19,110,273
71$20,877,262$12,000,213$10,142,257$20,883,149
72$22,955,697$12,537,177$10,430,976$22,831,050
73$25,244,523$13,098,845$10,727,760$24,971,630
74$27,765,152$13,686,376$11,032,827$27,324,334
75$30,541,174$14,300,984$11,346,403$29,910,587
76$33,598,585$14,943,944$11,668,719$32,753,988
77$36,966,032$15,616,589$12,000,012$35,880,536
78$40,675,081$16,320,315$12,340,526$39,318,874
79$44,760,516$17,056,587$12,690,511$43,100,558
80$49,260,668$17,826,939$13,050,222$47,260,353
81$54,217,774$18,632,977$13,419,922$51,836,562
82$59,678,380$19,476,386$13,799,882$56,871,382
83$65,693,774$20,358,929$14,190,378$62,411,309
84$72,320,477$21,282,454$14,591,694$68,507,566
85$79,620,771$22,248,900$15,004,121$75,216,592
86$87,663,289$23,260,295$15,427,958$82,600,572
87$96,523,661$24,318,766$15,863,511$90,728,021
88$106,285,230$25,426,541$16,311,095$99,674,430
89$117,039,839$26,585,957$16,771,031$109,522,979
90$128,888,693$27,799,459$17,243,652$120,365,316
91$141,943,320$29,069,614$17,729,295$132,302,427
92$156,326,621$30,399,107$18,228,308$145,445,582
93$172,174,028$31,790,755$18,741,049$159,917,384
94$189,634,787$33,247,510$19,267,882$175,852,930
95$208,873,362$34,772,465$19,809,183$193,401,077
96$230,070,991$36,368,861$20,365,336$212,725,850
97$253,427,392$38,040,096$20,936,735$234,007,988
98$279,162,655$39,789,730$21,523,785$257,446,646
99$307,519,314$41,621,494$22,126,899$283,261,272
100$338,764,637$43,539,300$22,746,503$311,693,682