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%16%
1 years$578,053$572,904$567,881$562,978$558,190$544,475
2 years$286,165$280,836$275,670$270,662$265,805$252,072
3 years$188,882$183,529$178,377$173,416$168,637$155,316
4 years$140,249$134,913$129,813$124,936$120,274$107,466
5 years$111,078$105,774$100,740$95,963$91,430$79,172
6 years$91,636$86,372$81,413$76,743$72,346$60,649
7 years$77,755$72,535$67,655$63,094$58,836$47,703
8 years$67,349$62,176$57,376$52,928$48,810$38,235
9 years$59,259$54,135$49,418$45,083$41,105$31,080
10 years$52,792$47,718$43,084$38,862$35,024$25,536
11 years$47,503$42,480$37,930$33,822$30,122$21,159
12 years$43,099$38,128$33,662$29,666$26,103$17,649
13 years$39,376$34,457$30,075$26,191$22,762$14,801
14 years$36,187$31,320$27,023$23,249$19,953$12,467
15 years$33,426$28,611$24,398$20,734$17,568$10,540
16 years$31,013$26,250$22,120$18,565$15,527$8,937
17 years$28,885$24,176$20,128$16,681$13,767$7,597
18 years$26,996$22,339$18,375$15,033$12,241$6,471
19 years$25,308$20,704$16,821$13,583$10,911$5,522
20 years$23,791$19,239$15,438$12,302$9,746$4,719
21 years$22,420$17,921$14,200$11,165$8,721$4,038
22 years$21,175$16,728$13,087$10,152$7,817$3,459
23 years$20,040$15,645$12,084$9,245$7,017$2,966
24 years$19,001$14,659$11,175$8,432$6,307$2,545
25 years$18,047$13,757$10,351$7,701$5,676$2,185
26 years$17,168$12,929$9,600$7,041$5,112$1,877
27 years$16,355$12,168$8,914$6,445$4,609$1,613
28 years$15,601$11,466$8,287$5,905$4,159$1,387
29 years$14,901$10,816$7,712$5,415$3,756$1,193
30 years$14,249$10,215$7,183$4,970$3,393$1,027
31 years$13,640$9,657$6,697$4,564$3,068$884
32 years$13,070$9,137$6,248$4,195$2,775$761
33 years$12,536$8,653$5,834$3,857$2,512$655
34 years$12,034$8,201$5,451$3,549$2,274$564
35 years$11,562$7,779$5,096$3,267$2,060$486
36 years$11,118$7,383$4,767$3,009$1,866$418
37 years$10,698$7,012$4,462$2,772$1,691$361
38 years$10,301$6,664$4,179$2,555$1,533$311
39 years$9,926$6,337$3,915$2,356$1,390$268
40 years$9,570$6,029$3,669$2,173$1,261$231
41 years$9,233$5,739$3,441$2,005$1,144$199
42 years$8,912$5,466$3,228$1,850$1,038$171
43 years$8,607$5,208$3,029$1,708$942$148
44 years$8,317$4,964$2,843$1,577$855$127
45 years$8,041$4,734$2,669$1,457$776$110
46 years$7,777$4,516$2,507$1,345$705$95
47 years$7,525$4,309$2,355$1,243$640$81
48 years$7,285$4,114$2,213$1,149$581$70
49 years$7,055$3,928$2,080$1,062$528$61
50 years$6,834$3,753$1,956$981$480$52

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 $4,633 every year, while hoping to spend $25,565 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: 47/43/10 Blend
54$7,000,000$7,000,000$7,000,000$7,000,000
55$7,718,779$7,347,779$7,239,279$8,060,061
56$8,478,893$7,680,619$7,454,594$8,628,455
57$9,315,683$8,028,912$7,676,265$9,241,938
58$10,236,941$8,393,387$7,904,478$9,907,148
59$11,251,255$8,774,809$8,139,425$10,628,898
60$12,368,090$9,173,981$8,381,302$11,412,472
61$13,597,871$9,591,743$8,630,312$12,263,670
62$14,952,090$10,028,974$8,886,663$13,188,862
63$16,443,407$10,486,598$9,150,570$14,195,045
64$18,085,774$10,965,580$9,422,253$15,289,902
65$19,894,564$11,466,934$9,701,940$16,481,878
66$21,886,717$11,991,722$9,989,863$17,780,249
67$24,080,902$12,541,057$10,286,264$19,195,211
68$26,497,689$13,116,103$10,591,388$20,737,970
69$29,159,745$13,718,084$10,905,491$22,420,843
70$32,092,048$14,348,279$11,228,834$24,257,372
71$35,322,124$15,008,032$11,561,687$26,262,448
72$38,880,303$15,698,747$11,904,326$28,452,443
73$42,800,008$16,421,901$12,257,035$30,845,362
74$47,118,072$17,179,037$12,620,109$33,461,011
75$51,875,082$17,971,776$12,993,849$36,321,171
76$57,115,761$18,801,814$13,378,564$39,449,806
77$62,889,397$19,670,931$13,774,573$42,873,278
78$69,250,300$20,580,991$14,182,206$46,620,593
79$76,258,319$21,533,948$14,601,799$50,723,665
80$83,979,409$22,531,853$15,033,700$55,217,614
81$92,486,245$23,576,851$15,478,266$60,141,089
82$101,858,919$24,671,193$15,935,865$65,536,624
83$112,185,686$25,817,239$16,406,874$71,451,034
84$123,563,804$27,017,461$16,891,682$77,935,849
85$136,100,448$28,274,453$17,390,690$85,047,790
86$149,913,724$29,590,931$17,904,307$92,849,296
87$165,133,781$30,969,744$18,432,959$101,409,107
88$181,904,043$32,413,878$18,977,079$110,802,899
89$200,382,560$33,926,462$19,537,116$121,113,991
90$220,743,501$35,510,779$20,113,530$132,434,120
91$243,178,799$37,170,268$20,706,794$144,864,295
92$267,899,961$38,908,535$21,317,395$158,515,743
93$295,140,064$40,729,360$21,945,835$173,510,940
94$325,155,958$42,636,707$22,592,628$189,984,760
95$358,230,689$44,634,728$23,258,304$208,085,733
96$394,676,170$46,727,781$23,943,409$227,977,432
97$434,836,128$48,920,431$24,648,501$249,840,005
98$479,089,346$51,217,465$25,374,159$273,871,858
99$527,853,239$53,623,901$26,120,974$300,291,512
100$581,587,799$56,145,002$26,889,556$329,339,650