Can I retire at age 55 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%17.9%
1 years$578,053$572,904$567,881$562,978$558,190$540,322
2 years$286,165$280,836$275,670$270,662$265,805$247,968
3 years$188,882$183,529$178,377$173,416$168,637$151,391
4 years$140,249$134,913$129,813$124,936$120,274$103,750
5 years$111,078$105,774$100,740$95,963$91,430$75,674
6 years$91,636$86,372$81,413$76,743$72,346$57,370
7 years$77,755$72,535$67,655$63,094$58,836$44,640
8 years$67,349$62,176$57,376$52,928$48,810$35,383
9 years$59,259$54,135$49,418$45,083$41,105$28,432
10 years$52,792$47,718$43,084$38,862$35,024$23,085
11 years$47,503$42,480$37,930$33,822$30,122$18,895
12 years$43,099$38,128$33,662$29,666$26,103$15,565
13 years$39,376$34,457$30,075$26,191$22,762$12,887
14 years$36,187$31,320$27,023$23,249$19,953$10,714
15 years$33,426$28,611$24,398$20,734$17,568$8,937
16 years$31,013$26,250$22,120$18,565$15,527$7,475
17 years$28,885$24,176$20,128$16,681$13,767$6,267
18 years$26,996$22,339$18,375$15,033$12,241$5,263
19 years$25,308$20,704$16,821$13,583$10,911$4,428
20 years$23,791$19,239$15,438$12,302$9,746$3,730
21 years$22,420$17,921$14,200$11,165$8,721$3,145
22 years$21,175$16,728$13,087$10,152$7,817$2,654
23 years$20,040$15,645$12,084$9,245$7,017$2,242
24 years$19,001$14,659$11,175$8,432$6,307$1,895
25 years$18,047$13,757$10,351$7,701$5,676$1,602
26 years$17,168$12,929$9,600$7,041$5,112$1,356
27 years$16,355$12,168$8,914$6,445$4,609$1,148
28 years$15,601$11,466$8,287$5,905$4,159$972
29 years$14,901$10,816$7,712$5,415$3,756$823
30 years$14,249$10,215$7,183$4,970$3,393$697
31 years$13,640$9,657$6,697$4,564$3,068$591
32 years$13,070$9,137$6,248$4,195$2,775$500
33 years$12,536$8,653$5,834$3,857$2,512$424
34 years$12,034$8,201$5,451$3,549$2,274$359
35 years$11,562$7,779$5,096$3,267$2,060$305
36 years$11,118$7,383$4,767$3,009$1,866$258
37 years$10,698$7,012$4,462$2,772$1,691$219
38 years$10,301$6,664$4,179$2,555$1,533$186
39 years$9,926$6,337$3,915$2,356$1,390$157
40 years$9,570$6,029$3,669$2,173$1,261$134
41 years$9,233$5,739$3,441$2,005$1,144$113
42 years$8,912$5,466$3,228$1,850$1,038$96
43 years$8,607$5,208$3,029$1,708$942$81
44 years$8,317$4,964$2,843$1,577$855$69
45 years$8,041$4,734$2,669$1,457$776$59
46 years$7,777$4,516$2,507$1,345$705$50
47 years$7,525$4,309$2,355$1,243$640$42
48 years$7,285$4,114$2,213$1,149$581$36
49 years$7,055$3,928$2,080$1,062$528$30
50 years$6,834$3,753$1,956$981$480$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $7,000,000, adding $2,221 every year, while hoping to spend $51,750 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: 63/8/29 Blend
54$7,000,000$7,000,000$7,000,000$7,000,000
55$7,716,291$7,345,291$7,236,791$8,142,325
56$8,448,291$7,650,149$7,424,162$8,736,733
57$9,253,221$7,968,210$7,616,075$9,379,909
58$10,138,464$8,300,067$7,812,629$10,081,397
59$11,112,157$8,646,340$8,013,921$10,846,926
60$12,183,263$9,007,676$8,220,053$11,682,805
61$13,361,658$9,384,755$8,431,128$12,595,977
62$14,658,224$9,778,285$8,647,247$13,594,088
63$16,084,951$10,189,009$8,868,518$14,685,556
64$17,655,049$10,617,703$9,095,046$15,879,650
65$19,383,073$11,065,180$9,326,940$17,186,576
66$21,285,064$11,532,291$9,564,310$18,617,574
67$23,378,693$12,019,925$9,807,266$20,185,021
68$25,683,431$12,529,014$10,055,922$21,902,547
69$28,220,737$13,060,532$10,310,391$23,785,167
70$31,014,253$13,615,498$10,570,789$25,849,413
71$34,090,029$14,194,980$10,837,233$28,113,497
72$37,476,773$14,800,095$11,109,842$30,597,479
73$41,206,116$15,432,011$11,388,733$33,323,453
74$45,312,913$16,091,953$11,674,029$36,315,757
75$49,835,573$16,781,201$11,965,852$39,601,200
76$54,816,417$17,501,096$12,264,323$43,209,314
77$60,302,082$18,253,040$12,569,569$47,172,633
78$66,343,958$19,038,503$12,881,713$51,526,996
79$72,998,674$19,859,022$13,200,883$56,311,884
80$80,328,632$20,716,207$13,527,205$61,570,795
81$88,402,594$21,611,743$13,860,808$67,351,647
82$97,296,334$22,547,394$14,201,821$73,707,235
83$107,093,351$23,525,007$14,550,373$80,695,722
84$117,885,657$24,546,516$14,906,594$88,381,191
85$129,774,644$25,613,946$15,270,616$96,834,243
86$142,872,045$26,729,417$15,642,569$106,132,666
87$157,300,983$27,895,147$16,022,584$116,362,167
88$173,197,136$29,113,462$16,410,793$127,617,177
89$190,710,017$30,386,796$16,807,328$140,001,740
90$210,004,386$31,717,696$17,212,321$153,630,496
91$231,261,802$33,108,831$17,625,902$168,629,758
92$254,682,338$34,562,997$18,048,203$185,138,703
93$280,486,472$36,083,119$18,479,353$203,310,685
94$308,917,164$37,672,263$18,919,483$223,314,677
95$340,242,150$39,333,639$19,368,721$245,336,867
96$374,756,471$41,070,609$19,827,194$269,582,410
97$412,785,255$42,886,694$20,295,030$296,277,364
98$454,686,790$44,785,580$20,772,352$325,670,821
99$500,855,900$46,771,132$21,259,284$358,037,253
100$551,727,679$48,847,393$21,755,946$393,679,103