Can I retire at age 59 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%13.6%
1 years$578,053$572,904$567,881$562,978$558,190$549,848
2 years$286,165$280,836$275,670$270,662$265,805$257,420
3 years$188,882$183,529$178,377$173,416$168,637$160,470
4 years$140,249$134,913$129,813$124,936$120,274$112,386
5 years$111,078$105,774$100,740$95,963$91,430$83,845
6 years$91,636$86,372$81,413$76,743$72,346$65,073
7 years$77,755$72,535$67,655$63,094$58,836$51,878
8 years$67,349$62,176$57,376$52,928$48,810$42,165
9 years$59,259$54,135$49,418$45,083$41,105$34,770
10 years$52,792$47,718$43,084$38,862$35,024$28,993
11 years$47,503$42,480$37,930$33,822$30,122$24,390
12 years$43,099$38,128$33,662$29,666$26,103$20,663
13 years$39,376$34,457$30,075$26,191$22,762$17,607
14 years$36,187$31,320$27,023$23,249$19,953$15,074
15 years$33,426$28,611$24,398$20,734$17,568$12,957
16 years$31,013$26,250$22,120$18,565$15,527$11,174
17 years$28,885$24,176$20,128$16,681$13,767$9,663
18 years$26,996$22,339$18,375$15,033$12,241$8,377
19 years$25,308$20,704$16,821$13,583$10,911$7,276
20 years$23,791$19,239$15,438$12,302$9,746$6,332
21 years$22,420$17,921$14,200$11,165$8,721$5,518
22 years$21,175$16,728$13,087$10,152$7,817$4,815
23 years$20,040$15,645$12,084$9,245$7,017$4,206
24 years$19,001$14,659$11,175$8,432$6,307$3,677
25 years$18,047$13,757$10,351$7,701$5,676$3,218
26 years$17,168$12,929$9,600$7,041$5,112$2,818
27 years$16,355$12,168$8,914$6,445$4,609$2,470
28 years$15,601$11,466$8,287$5,905$4,159$2,166
29 years$14,901$10,816$7,712$5,415$3,756$1,900
30 years$14,249$10,215$7,183$4,970$3,393$1,667
31 years$13,640$9,657$6,697$4,564$3,068$1,464
32 years$13,070$9,137$6,248$4,195$2,775$1,286
33 years$12,536$8,653$5,834$3,857$2,512$1,129
34 years$12,034$8,201$5,451$3,549$2,274$992
35 years$11,562$7,779$5,096$3,267$2,060$872
36 years$11,118$7,383$4,767$3,009$1,866$767
37 years$10,698$7,012$4,462$2,772$1,691$674
38 years$10,301$6,664$4,179$2,555$1,533$593
39 years$9,926$6,337$3,915$2,356$1,390$521
40 years$9,570$6,029$3,669$2,173$1,261$458
41 years$9,233$5,739$3,441$2,005$1,144$403
42 years$8,912$5,466$3,228$1,850$1,038$355
43 years$8,607$5,208$3,029$1,708$942$312
44 years$8,317$4,964$2,843$1,577$855$275
45 years$8,041$4,734$2,669$1,457$776$242
46 years$7,777$4,516$2,507$1,345$705$213
47 years$7,525$4,309$2,355$1,243$640$187
48 years$7,285$4,114$2,213$1,149$581$165
49 years$7,055$3,928$2,080$1,062$528$145
50 years$6,834$3,753$1,956$981$480$128

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 $2,361 every year, while hoping to spend $45,549 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: 54/16/30 Blend
58$7,000,000$7,000,000$7,000,000$7,000,000
59$7,716,435$7,345,435$7,236,935$8,068,388
60$8,455,048$7,656,898$7,430,909$8,624,053
61$9,267,472$7,982,096$7,629,854$9,223,886
62$10,161,190$8,321,653$7,833,889$9,876,087
63$11,144,442$8,676,225$8,043,135$10,585,707
64$12,226,310$9,046,495$8,257,715$11,358,304
65$13,416,800$9,433,180$8,477,755$12,199,992
66$14,726,938$9,837,030$8,703,384$13,117,497
67$16,168,871$10,258,830$8,934,733$14,118,222
68$17,755,985$10,699,401$9,171,935$15,210,310
69$19,503,027$11,159,604$9,415,127$16,402,725
70$21,426,250$11,640,339$9,664,448$17,705,332
71$23,543,560$12,142,547$9,920,039$19,128,989
72$25,874,688$12,667,217$10,182,046$20,685,649
73$28,441,376$13,215,381$10,450,614$22,388,469
74$31,267,582$13,788,120$10,725,895$24,251,934
75$34,379,704$14,386,567$11,008,041$26,291,990
76$37,806,831$15,011,906$11,297,209$28,526,196
77$41,581,018$15,665,380$11,593,555$30,973,883
78$45,737,586$16,348,287$11,897,243$33,656,340
79$50,315,456$17,061,989$12,208,437$36,597,007
80$55,357,516$17,807,911$12,527,304$39,821,697
81$60,911,028$18,587,544$12,854,014$43,358,838
82$67,028,071$19,402,451$13,188,740$47,239,737
83$73,766,031$20,254,268$13,531,660$51,498,874
84$81,188,147$21,144,708$13,882,952$56,174,224
85$89,364,106$22,075,567$14,242,799$61,307,614
86$98,370,698$23,048,723$14,611,386$66,945,114
87$108,292,543$24,066,144$14,988,901$73,137,467
88$119,222,890$25,129,892$15,375,536$79,940,571
89$131,264,493$26,242,126$15,771,486$87,415,995
90$144,530,588$27,405,106$16,176,947$95,631,565
91$159,145,954$28,621,202$16,592,120$104,661,993
92$175,248,093$29,892,894$17,017,209$114,589,585
93$192,988,533$31,222,780$17,452,419$125,505,011
94$212,534,249$32,613,582$17,897,961$137,508,159
95$234,069,247$34,068,151$18,354,047$150,709,069
96$257,796,293$35,589,474$18,820,891$165,228,974
97$283,938,837$37,180,679$19,298,712$181,201,435
98$312,743,110$38,845,044$19,787,731$198,773,600
99$344,480,458$40,586,003$20,288,171$218,107,587
100$379,449,898$42,407,150$20,800,258$239,382,009