Can I retire at age 59 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%15.2%
1 years$578,053$572,904$567,881$562,978$558,190$546,250
2 years$286,165$280,836$275,670$270,662$265,805$253,834
3 years$188,882$183,529$178,377$173,416$168,637$157,009
4 years$140,249$134,913$129,813$124,936$120,274$109,077
5 years$111,078$105,774$100,740$95,963$91,430$80,697
6 years$91,636$86,372$81,413$76,743$72,346$62,088
7 years$77,755$72,535$67,655$63,094$58,836$49,056
8 years$67,349$62,176$57,376$52,928$48,810$39,503
9 years$59,259$54,135$49,418$45,083$41,105$32,266
10 years$52,792$47,718$43,084$38,862$35,024$26,642
11 years$47,503$42,480$37,930$33,822$30,122$22,188
12 years$43,099$38,128$33,662$29,666$26,103$18,604
13 years$39,376$34,457$30,075$26,191$22,762$15,686
14 years$36,187$31,320$27,023$23,249$19,953$13,285
15 years$33,426$28,611$24,398$20,734$17,568$11,294
16 years$31,013$26,250$22,120$18,565$15,527$9,631
17 years$28,885$24,176$20,128$16,681$13,767$8,234
18 years$26,996$22,339$18,375$15,033$12,241$7,055
19 years$25,308$20,704$16,821$13,583$10,911$6,056
20 years$23,791$19,239$15,438$12,302$9,746$5,207
21 years$22,420$17,921$14,200$11,165$8,721$4,483
22 years$21,175$16,728$13,087$10,152$7,817$3,864
23 years$20,040$15,645$12,084$9,245$7,017$3,334
24 years$19,001$14,659$11,175$8,432$6,307$2,879
25 years$18,047$13,757$10,351$7,701$5,676$2,487
26 years$17,168$12,929$9,600$7,041$5,112$2,151
27 years$16,355$12,168$8,914$6,445$4,609$1,861
28 years$15,601$11,466$8,287$5,905$4,159$1,610
29 years$14,901$10,816$7,712$5,415$3,756$1,394
30 years$14,249$10,215$7,183$4,970$3,393$1,208
31 years$13,640$9,657$6,697$4,564$3,068$1,046
32 years$13,070$9,137$6,248$4,195$2,775$907
33 years$12,536$8,653$5,834$3,857$2,512$786
34 years$12,034$8,201$5,451$3,549$2,274$681
35 years$11,562$7,779$5,096$3,267$2,060$591
36 years$11,118$7,383$4,767$3,009$1,866$512
37 years$10,698$7,012$4,462$2,772$1,691$444
38 years$10,301$6,664$4,179$2,555$1,533$386
39 years$9,926$6,337$3,915$2,356$1,390$334
40 years$9,570$6,029$3,669$2,173$1,261$290
41 years$9,233$5,739$3,441$2,005$1,144$252
42 years$8,912$5,466$3,228$1,850$1,038$218
43 years$8,607$5,208$3,029$1,708$942$190
44 years$8,317$4,964$2,843$1,577$855$165
45 years$8,041$4,734$2,669$1,457$776$143
46 years$7,777$4,516$2,507$1,345$705$124
47 years$7,525$4,309$2,355$1,243$640$108
48 years$7,285$4,114$2,213$1,149$581$93
49 years$7,055$3,928$2,080$1,062$528$81
50 years$6,834$3,753$1,956$981$480$70

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $7,000,000, adding $4,447 every year, while hoping to spend $44,939 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: 47/33/20 Blend
58$7,000,000$7,000,000$7,000,000$7,000,000
59$7,718,587$7,347,587$7,239,087$8,037,274
60$8,458,068$7,659,804$7,433,782$8,572,315
61$9,271,470$7,985,814$7,633,493$9,147,850
62$10,166,286$8,326,244$7,838,340$9,771,609
63$11,150,770$8,681,753$8,048,447$10,448,122
64$12,234,018$9,053,029$8,263,940$11,182,364
65$13,426,053$9,440,792$8,484,947$11,979,801
66$14,737,916$9,845,797$8,711,599$12,846,441
67$16,181,775$10,268,832$8,944,029$13,788,888
68$17,771,037$10,710,726$9,182,374$14,814,399
69$19,520,473$11,172,341$9,426,774$15,930,953
70$21,446,360$11,654,585$9,677,370$17,147,325
71$23,566,634$12,158,405$9,934,307$18,473,161
72$25,901,057$12,684,793$10,197,733$19,919,072
73$28,471,407$13,234,790$10,467,799$21,496,729
74$31,301,677$13,809,482$10,744,657$23,218,966
75$34,418,311$14,410,008$11,028,465$25,099,908
76$37,850,442$15,037,563$11,319,383$27,155,089
77$41,630,177$15,693,393$11,617,572$29,401,604
78$45,792,894$16,378,808$11,923,199$31,858,265
79$50,377,575$17,095,175$12,236,432$34,545,772
80$55,427,178$17,843,930$12,557,443$37,486,905
81$60,989,041$18,626,572$12,886,408$40,706,739
82$67,115,324$19,444,676$13,223,504$44,232,871
83$73,863,509$20,299,886$13,568,913$48,095,681
84$81,296,934$21,193,929$13,922,819$52,328,610
85$89,485,399$22,128,608$14,285,411$56,968,474
86$98,505,816$23,105,817$14,656,879$62,055,803
87$108,442,943$24,127,535$15,037,418$67,635,223
88$119,390,177$25,195,838$15,427,225$73,755,867
89$131,450,439$26,312,899$15,826,501$80,471,837
90$144,737,146$27,480,993$16,235,451$87,842,705
91$159,375,277$28,702,504$16,654,281$95,934,072
92$175,502,559$29,979,931$17,083,204$104,818,181
93$193,270,761$31,315,887$17,522,431$114,574,587
94$212,847,127$32,713,115$17,972,182$125,290,909
95$234,415,960$34,174,483$18,432,675$137,063,642
96$258,180,354$35,702,999$18,904,136$149,999,065
97$284,364,116$37,301,811$19,386,790$164,214,234
98$313,213,876$38,974,221$19,880,868$179,838,079
99$345,001,418$40,723,684$20,386,604$197,012,612
100$380,026,241$42,553,823$20,904,233$215,894,259