Can I retire at age 55 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%14.5%
1 years$611,085$605,642$600,331$595,148$590,086$579,120
2 years$302,517$296,883$291,423$286,129$280,994$269,986
3 years$199,675$194,016$188,570$183,325$178,274$167,568
4 years$148,264$142,623$137,231$132,076$127,146$116,825
5 years$117,425$111,818$106,497$101,447$96,655$86,747
6 years$96,873$91,308$86,065$81,128$76,480$66,997
7 years$82,198$76,680$71,520$66,700$62,198$53,143
8 years$71,197$65,729$60,655$55,953$51,600$42,970
9 years$62,646$57,229$52,242$47,659$43,454$35,244
10 years$55,808$50,444$45,546$41,083$37,025$29,227
11 years$50,218$44,908$40,098$35,754$31,843$24,449
12 years$45,562$40,307$35,586$31,361$27,594$20,593
13 years$41,626$36,426$31,794$27,687$24,063$17,444
14 years$38,255$33,110$28,567$24,578$21,093$14,844
15 years$35,336$30,246$25,792$21,919$18,572$12,680
16 years$32,785$27,751$23,384$19,626$16,414$10,867
17 years$30,536$25,557$21,279$17,634$14,554$9,338
18 years$28,539$23,616$19,425$15,892$12,941$8,042
19 years$26,754$21,887$17,782$14,360$11,534$6,939
20 years$25,150$20,339$16,320$13,005$10,303$5,998
21 years$23,701$18,945$15,011$11,803$9,220$5,191
22 years$22,385$17,684$13,835$10,732$8,264$4,499
23 years$21,185$16,540$12,774$9,774$7,418$3,902
24 years$20,087$15,496$11,814$8,914$6,668$3,388
25 years$19,078$14,543$10,942$8,141$6,000$2,944
26 years$18,149$13,668$10,148$7,444$5,405$2,560
27 years$17,289$12,863$9,423$6,813$4,873$2,227
28 years$16,493$12,121$8,760$6,242$4,397$1,939
29 years$15,753$11,434$8,152$5,724$3,970$1,688
30 years$15,063$10,799$7,594$5,254$3,587$1,471
31 years$14,419$10,208$7,079$4,825$3,243$1,282
32 years$13,817$9,659$6,605$4,434$2,934$1,117
33 years$13,252$9,147$6,167$4,078$2,655$974
34 years$12,722$8,670$5,762$3,752$2,404$849
35 years$12,223$8,223$5,387$3,454$2,177$741
36 years$11,753$7,805$5,040$3,181$1,973$646
37 years$11,309$7,413$4,717$2,931$1,788$564
38 years$10,890$7,045$4,417$2,701$1,621$492
39 years$10,493$6,699$4,139$2,491$1,470$429
40 years$10,117$6,373$3,879$2,297$1,333$375
41 years$9,760$6,067$3,637$2,120$1,210$327
42 years$9,421$5,778$3,412$1,956$1,098$286
43 years$9,099$5,505$3,202$1,806$996$249
44 years$8,792$5,248$3,005$1,667$904$218
45 years$8,500$5,004$2,822$1,540$821$190
46 years$8,221$4,774$2,650$1,422$745$166
47 years$7,955$4,556$2,490$1,314$677$145
48 years$7,701$4,349$2,340$1,214$615$127
49 years$7,458$4,153$2,199$1,122$558$110
50 years$7,225$3,967$2,068$1,037$507$96

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $7,400,000, adding $4,142 every year, while hoping to spend $23,048 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: 46/46/8 Blend
54$7,400,000$7,400,000$7,400,000$7,400,000
55$8,159,072$7,766,872$7,652,172$8,516,197
56$8,966,775$8,122,926$7,883,997$9,118,692
57$9,856,091$8,495,654$8,122,816$9,769,162
58$10,835,320$8,885,849$8,368,838$10,474,236
59$11,913,608$9,294,342$8,622,280$11,238,970
60$13,101,034$9,722,003$8,883,365$12,068,911
61$14,408,704$10,169,744$9,152,321$12,970,148
62$15,848,853$10,638,524$9,429,385$13,949,366
63$17,434,967$11,129,342$9,714,801$15,013,904
64$19,181,905$11,643,251$10,008,818$16,171,822
65$21,106,041$12,181,352$10,311,695$17,431,973
66$23,225,417$12,744,799$10,623,697$18,804,083
67$25,559,916$13,334,800$10,945,097$20,298,836
68$28,131,448$13,952,626$11,276,178$21,927,975
69$30,964,155$14,599,604$11,617,230$23,704,403
70$34,084,643$15,277,128$11,968,551$25,642,303
71$37,522,227$15,986,658$12,330,448$27,757,268
72$41,309,215$16,729,726$12,703,239$30,066,439
73$45,481,208$17,507,934$13,087,250$32,588,663
74$50,077,434$18,322,967$13,482,816$35,344,668
75$55,141,126$19,176,585$13,890,284$38,357,247
76$60,719,922$20,070,639$14,310,009$41,651,470
77$66,866,318$21,007,065$14,742,359$45,254,914
78$73,638,165$21,987,894$15,187,711$49,197,917
79$81,099,213$23,015,255$15,646,454$53,513,853
80$89,319,711$24,091,381$16,118,988$58,239,445
81$98,377,073$25,218,611$16,605,726$63,415,097
82$108,356,610$26,399,397$17,107,093$69,085,274
83$119,352,328$27,636,312$17,623,525$75,298,909
84$131,467,826$28,932,052$18,155,473$82,109,853
85$144,817,263$30,289,441$18,703,401$89,577,380
86$159,526,444$31,711,444$19,267,785$97,766,732
87$175,734,003$33,201,167$19,849,117$106,749,724
88$193,592,713$34,761,865$20,447,904$116,605,414
89$213,270,927$36,396,954$21,064,666$127,420,834
90$234,954,169$38,110,012$21,699,940$139,291,802
91$258,846,885$39,904,793$22,354,278$152,323,812
92$285,174,370$41,785,231$23,028,250$166,633,016
93$314,184,900$43,755,451$23,722,440$182,347,309
94$346,152,070$45,819,779$24,437,452$199,607,520
95$381,377,381$47,982,748$25,173,906$218,568,725
96$420,193,084$50,249,113$25,932,443$239,401,696
97$462,965,319$52,623,859$26,713,720$262,294,496
98$510,097,566$55,112,213$27,518,414$287,454,236
99$562,034,461$57,719,655$28,347,224$315,109,013
100$619,265,988$60,451,930$29,200,868$345,510,041