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%11.6%
1 years$578,053$572,904$567,881$562,978$558,190$554,440
2 years$286,165$280,836$275,670$270,662$265,805$262,023
3 years$188,882$183,529$178,377$173,416$168,637$164,940
4 years$140,249$134,913$129,813$124,936$120,274$116,690
5 years$111,078$105,774$100,740$95,963$91,430$87,971
6 years$91,636$86,372$81,413$76,743$72,346$69,015
7 years$77,755$72,535$67,655$63,094$58,836$55,636
8 years$67,349$62,176$57,376$52,928$48,810$45,740
9 years$59,259$54,135$49,418$45,083$41,105$38,164
10 years$52,792$47,718$43,084$38,862$35,024$32,211
11 years$47,503$42,480$37,930$33,822$30,122$27,435
12 years$43,099$38,128$33,662$29,666$26,103$23,539
13 years$39,376$34,457$30,075$26,191$22,762$20,319
14 years$36,187$31,320$27,023$23,249$19,953$17,629
15 years$33,426$28,611$24,398$20,734$17,568$15,359
16 years$31,013$26,250$22,120$18,565$15,527$13,429
17 years$28,885$24,176$20,128$16,681$13,767$11,777
18 years$26,996$22,339$18,375$15,033$12,241$10,356
19 years$25,308$20,704$16,821$13,583$10,911$9,127
20 years$23,791$19,239$15,438$12,302$9,746$8,059
21 years$22,420$17,921$14,200$11,165$8,721$7,129
22 years$21,175$16,728$13,087$10,152$7,817$6,315
23 years$20,040$15,645$12,084$9,245$7,017$5,601
24 years$19,001$14,659$11,175$8,432$6,307$4,974
25 years$18,047$13,757$10,351$7,701$5,676$4,422
26 years$17,168$12,929$9,600$7,041$5,112$3,934
27 years$16,355$12,168$8,914$6,445$4,609$3,503
28 years$15,601$11,466$8,287$5,905$4,159$3,121
29 years$14,901$10,816$7,712$5,415$3,756$2,783
30 years$14,249$10,215$7,183$4,970$3,393$2,482
31 years$13,640$9,657$6,697$4,564$3,068$2,215
32 years$13,070$9,137$6,248$4,195$2,775$1,978
33 years$12,536$8,653$5,834$3,857$2,512$1,767
34 years$12,034$8,201$5,451$3,549$2,274$1,579
35 years$11,562$7,779$5,096$3,267$2,060$1,411
36 years$11,118$7,383$4,767$3,009$1,866$1,261
37 years$10,698$7,012$4,462$2,772$1,691$1,128
38 years$10,301$6,664$4,179$2,555$1,533$1,009
39 years$9,926$6,337$3,915$2,356$1,390$903
40 years$9,570$6,029$3,669$2,173$1,261$808
41 years$9,233$5,739$3,441$2,005$1,144$723
42 years$8,912$5,466$3,228$1,850$1,038$647
43 years$8,607$5,208$3,029$1,708$942$579
44 years$8,317$4,964$2,843$1,577$855$518
45 years$8,041$4,734$2,669$1,457$776$464
46 years$7,777$4,516$2,507$1,345$705$415
47 years$7,525$4,309$2,355$1,243$640$372
48 years$7,285$4,114$2,213$1,149$581$333
49 years$7,055$3,928$2,080$1,062$528$298
50 years$6,834$3,753$1,956$981$480$267

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 $4,229 every year, while hoping to spend $29,043 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: 75/7/18 Blend
54$7,000,000$7,000,000$7,000,000$7,000,000
55$7,718,362$7,347,362$7,238,862$8,265,014
56$8,474,734$7,676,481$7,450,463$8,956,717
57$9,307,282$8,020,754$7,668,178$9,710,683
58$10,223,745$8,380,892$7,892,183$10,536,343
59$11,232,653$8,757,641$8,122,657$11,440,834
60$12,343,400$9,151,783$8,359,783$12,432,013
61$13,566,342$9,564,135$8,603,750$13,518,534
62$14,912,887$9,995,556$8,854,754$14,709,925
63$16,395,608$10,446,944$9,112,995$16,016,680
64$18,028,356$10,919,241$9,378,676$17,450,356
65$19,826,398$11,413,433$9,652,011$19,023,681
66$21,806,552$11,930,553$9,933,215$20,750,674
67$23,987,355$12,471,685$10,222,513$22,646,775
68$26,389,231$13,037,963$10,520,133$24,728,992
69$29,034,686$13,630,577$10,826,311$27,016,055
70$31,948,521$14,250,771$11,141,289$29,528,601
71$35,158,064$14,899,853$11,465,316$32,289,359
72$38,693,430$15,579,190$11,798,648$35,323,366
73$42,587,805$16,290,215$12,141,548$38,658,204
74$46,877,758$17,034,432$12,494,286$42,324,259
75$51,603,584$17,813,414$12,857,139$46,355,003
76$56,809,689$18,628,811$13,230,393$50,787,311
77$62,545,008$19,482,353$13,614,342$55,661,809
78$68,863,462$20,375,852$14,009,285$61,023,253
79$75,824,472$21,311,206$14,415,534$66,920,951
80$83,493,519$22,290,406$14,833,405$73,409,228
81$91,942,760$23,315,538$15,263,226$80,547,937
82$101,251,710$24,388,787$15,705,332$88,403,019
83$111,507,992$25,512,446$16,160,069$97,047,129
84$122,808,167$26,688,915$16,627,790$106,560,315
85$135,258,639$27,920,711$17,108,861$117,030,774
86$148,976,667$29,210,473$17,603,654$128,555,684
87$164,091,466$30,560,965$18,112,555$141,242,114
88$180,745,428$31,975,085$18,635,959$155,208,041
89$199,095,469$33,455,870$19,174,270$170,583,451
90$219,314,504$35,006,506$19,727,906$187,511,573
91$241,593,088$36,630,329$20,297,295$206,150,223
92$266,141,204$38,330,836$20,882,876$226,673,293
93$293,190,256$40,111,696$21,485,101$249,272,390
94$322,995,244$41,976,751$22,104,434$274,158,642
95$355,837,178$43,930,031$22,741,351$301,564,687
96$392,025,726$45,975,759$23,396,343$331,746,869
97$431,902,141$48,118,362$24,069,911$364,987,650
98$475,842,479$50,362,481$24,762,572$401,598,279
99$524,261,150$52,712,980$25,474,856$441,921,722
100$577,614,831$55,174,961$26,207,308$486,335,898