Can I retire at age 55 with 7,000,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%13%
1 years$578,053$572,904$567,881$562,978$558,190$551,215
2 years$286,165$280,836$275,670$270,662$265,805$258,786
3 years$188,882$183,529$178,377$173,416$168,637$161,794
4 years$140,249$134,913$129,813$124,936$120,274$113,657
5 years$111,078$105,774$100,740$95,963$91,430$85,060
6 years$91,636$86,372$81,413$76,743$72,346$66,230
7 years$77,755$72,535$67,655$63,094$58,836$52,978
8 years$67,349$62,176$57,376$52,928$48,810$43,208
9 years$59,259$54,135$49,418$45,083$41,105$35,757
10 years$52,792$47,718$43,084$38,862$35,024$29,925
11 years$47,503$42,480$37,930$33,822$30,122$25,268
12 years$43,099$38,128$33,662$29,666$26,103$21,490
13 years$39,376$34,457$30,075$26,191$22,762$18,383
14 years$36,187$31,320$27,023$23,249$19,953$15,802
15 years$33,426$28,611$24,398$20,734$17,568$13,638
16 years$31,013$26,250$22,120$18,565$15,527$11,810
17 years$28,885$24,176$20,128$16,681$13,767$10,257
18 years$26,996$22,339$18,375$15,033$12,241$8,930
19 years$25,308$20,704$16,821$13,583$10,911$7,791
20 years$23,791$19,239$15,438$12,302$9,746$6,810
21 years$22,420$17,921$14,200$11,165$8,721$5,961
22 years$21,175$16,728$13,087$10,152$7,817$5,225
23 years$20,040$15,645$12,084$9,245$7,017$4,586
24 years$19,001$14,659$11,175$8,432$6,307$4,028
25 years$18,047$13,757$10,351$7,701$5,676$3,542
26 years$17,168$12,929$9,600$7,041$5,112$3,117
27 years$16,355$12,168$8,914$6,445$4,609$2,745
28 years$15,601$11,466$8,287$5,905$4,159$2,418
29 years$14,901$10,816$7,712$5,415$3,756$2,132
30 years$14,249$10,215$7,183$4,970$3,393$1,880
31 years$13,640$9,657$6,697$4,564$3,068$1,659
32 years$13,070$9,137$6,248$4,195$2,775$1,464
33 years$12,536$8,653$5,834$3,857$2,512$1,293
34 years$12,034$8,201$5,451$3,549$2,274$1,141
35 years$11,562$7,779$5,096$3,267$2,060$1,008
36 years$11,118$7,383$4,767$3,009$1,866$891
37 years$10,698$7,012$4,462$2,772$1,691$787
38 years$10,301$6,664$4,179$2,555$1,533$696
39 years$9,926$6,337$3,915$2,356$1,390$615
40 years$9,570$6,029$3,669$2,173$1,261$544
41 years$9,233$5,739$3,441$2,005$1,144$481
42 years$8,912$5,466$3,228$1,850$1,038$425
43 years$8,607$5,208$3,029$1,708$942$376
44 years$8,317$4,964$2,843$1,577$855$333
45 years$8,041$4,734$2,669$1,457$776$294
46 years$7,777$4,516$2,507$1,345$705$260
47 years$7,525$4,309$2,355$1,243$640$230
48 years$7,285$4,114$2,213$1,149$581$204
49 years$7,055$3,928$2,080$1,062$528$180
50 years$6,834$3,753$1,956$981$480$159

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 $6,237 every year, while hoping to spend $22,842 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: 40/47/13 Blend
54$7,000,000$7,000,000$7,000,000$7,000,000
55$7,720,433$7,349,433$7,240,933$7,999,075
56$8,483,614$7,685,252$7,459,201$8,532,475
57$9,323,873$8,036,760$7,684,015$9,106,422
58$10,249,049$8,404,702$7,915,571$9,726,811
59$11,267,779$8,789,859$8,154,069$10,397,860
60$12,389,579$9,193,049$8,399,716$11,124,195
61$13,624,935$9,615,128$8,652,726$11,910,890
62$14,985,404$10,056,994$8,913,318$12,763,511
63$16,483,719$10,519,591$9,181,718$13,688,166
64$18,133,911$11,003,903$9,458,158$14,691,557
65$19,951,441$11,510,965$9,742,877$15,781,041
66$21,953,347$12,041,862$10,036,122$16,964,697
67$24,158,403$12,597,728$10,338,148$18,251,395
68$26,587,298$13,179,755$10,649,214$19,650,875
69$29,262,830$13,789,190$10,969,590$21,173,839
70$32,210,121$14,427,342$11,299,553$22,832,044
71$35,456,853$15,095,582$11,639,388$24,638,405
72$39,033,533$15,795,347$11,989,389$26,607,117
73$42,973,777$16,528,142$12,349,857$28,753,784
74$47,314,629$17,295,548$12,721,103$31,095,552
75$52,096,909$18,099,218$13,103,449$33,651,276
76$57,365,603$18,940,888$13,497,223$36,441,684
77$63,170,279$19,822,376$13,902,765$39,489,570
78$69,565,564$20,745,589$14,320,424$42,819,998
79$76,611,654$21,712,525$14,750,560$46,460,537
80$84,374,882$22,725,279$15,193,543$50,441,509
81$92,928,348$23,786,045$15,649,755$54,796,271
82$102,352,605$24,897,127$16,119,587$59,561,518
83$112,736,422$26,060,937$16,603,445$64,777,623
84$124,177,619$27,280,006$17,101,742$70,489,009
85$136,783,994$28,556,984$17,614,909$76,744,559
86$150,674,337$29,894,652$18,143,384$83,598,064
87$165,979,555$31,295,925$18,687,622$91,108,727
88$182,843,902$32,763,858$19,248,090$99,341,705
89$201,426,347$34,301,654$19,825,269$108,368,714
90$221,902,071$35,912,672$20,419,652$118,268,697
91$244,464,122$37,600,432$21,031,749$129,128,553
92$269,325,235$39,368,626$21,662,086$141,043,948
93$296,719,843$41,221,123$22,311,200$154,120,199
94$326,906,289$43,161,980$22,979,647$168,473,259
95$360,169,266$45,195,452$23,668,000$184,230,795
96$396,822,499$47,325,998$24,376,847$201,533,375
97$437,211,716$49,558,293$25,106,793$220,535,783
98$481,717,902$51,897,241$25,858,461$241,408,458
99$530,760,903$54,347,980$26,632,495$264,339,088
100$584,803,384$56,915,901$27,429,553$289,534,363