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%12.5%
1 years$578,053$572,904$567,881$562,978$558,190$552,361
2 years$286,165$280,836$275,670$270,662$265,805$259,934
3 years$188,882$183,529$178,377$173,416$168,637$162,908
4 years$140,249$134,913$129,813$124,936$120,274$114,730
5 years$111,078$105,774$100,740$95,963$91,430$86,088
6 years$91,636$86,372$81,413$76,743$72,346$67,211
7 years$77,755$72,535$67,655$63,094$58,836$53,912
8 years$67,349$62,176$57,376$52,928$48,810$44,096
9 years$59,259$54,135$49,418$45,083$41,105$36,599
10 years$52,792$47,718$43,084$38,862$35,024$30,723
11 years$47,503$42,480$37,930$33,822$30,122$26,023
12 years$43,099$38,128$33,662$29,666$26,103$22,202
13 years$39,376$34,457$30,075$26,191$22,762$19,054
14 years$36,187$31,320$27,023$23,249$19,953$16,433
15 years$33,426$28,611$24,398$20,734$17,568$14,231
16 years$31,013$26,250$22,120$18,565$15,527$12,366
17 years$28,885$24,176$20,128$16,681$13,767$10,778
18 years$26,996$22,339$18,375$15,033$12,241$9,417
19 years$25,308$20,704$16,821$13,583$10,911$8,246
20 years$23,791$19,239$15,438$12,302$9,746$7,234
21 years$22,420$17,921$14,200$11,165$8,721$6,356
22 years$21,175$16,728$13,087$10,152$7,817$5,592
23 years$20,040$15,645$12,084$9,245$7,017$4,927
24 years$19,001$14,659$11,175$8,432$6,307$4,345
25 years$18,047$13,757$10,351$7,701$5,676$3,835
26 years$17,168$12,929$9,600$7,041$5,112$3,388
27 years$16,355$12,168$8,914$6,445$4,609$2,995
28 years$15,601$11,466$8,287$5,905$4,159$2,650
29 years$14,901$10,816$7,712$5,415$3,756$2,345
30 years$14,249$10,215$7,183$4,970$3,393$2,077
31 years$13,640$9,657$6,697$4,564$3,068$1,840
32 years$13,070$9,137$6,248$4,195$2,775$1,631
33 years$12,536$8,653$5,834$3,857$2,512$1,446
34 years$12,034$8,201$5,451$3,549$2,274$1,282
35 years$11,562$7,779$5,096$3,267$2,060$1,137
36 years$11,118$7,383$4,767$3,009$1,866$1,009
37 years$10,698$7,012$4,462$2,772$1,691$896
38 years$10,301$6,664$4,179$2,555$1,533$795
39 years$9,926$6,337$3,915$2,356$1,390$706
40 years$9,570$6,029$3,669$2,173$1,261$627
41 years$9,233$5,739$3,441$2,005$1,144$556
42 years$8,912$5,466$3,228$1,850$1,038$494
43 years$8,607$5,208$3,029$1,708$942$439
44 years$8,317$4,964$2,843$1,577$855$390
45 years$8,041$4,734$2,669$1,457$776$346
46 years$7,777$4,516$2,507$1,345$705$308
47 years$7,525$4,309$2,355$1,243$640$273
48 years$7,285$4,114$2,213$1,149$581$243
49 years$7,055$3,928$2,080$1,062$528$216
50 years$6,834$3,753$1,956$981$480$192

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 $3,338 every year, while hoping to spend $36,648 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: 66/22/12 Blend
58$7,000,000$7,000,000$7,000,000$7,000,000
59$7,717,443$7,346,443$7,237,943$8,205,830
60$8,465,629$7,667,426$7,441,421$8,852,797
61$9,288,902$8,002,908$7,650,487$9,555,032
62$10,194,881$8,353,562$7,865,290$10,321,637
63$11,191,964$8,720,091$8,085,982$11,158,900
64$12,289,401$9,103,232$8,312,719$12,073,739
65$13,497,386$9,503,757$8,545,661$13,073,768
66$14,827,151$9,922,473$8,784,973$14,167,361
67$16,291,073$10,360,226$9,030,821$15,363,737
68$17,902,788$10,817,903$9,283,380$16,673,040
69$19,677,325$11,296,433$9,542,825$18,106,437
70$21,631,240$11,796,786$9,809,338$19,676,216
71$23,782,780$12,319,982$10,083,104$21,395,908
72$26,152,049$12,867,087$10,364,314$23,280,403
73$28,761,202$13,439,218$10,653,162$25,346,097
74$31,634,650$14,037,545$10,949,848$27,611,041
75$34,799,293$14,663,293$11,254,577$30,095,108
76$38,284,774$15,317,748$11,567,559$32,820,180
77$42,123,757$16,002,254$11,889,008$35,810,351
78$46,352,235$16,718,219$12,219,145$39,092,153
79$51,009,871$17,467,120$12,558,195$42,694,801
80$56,140,372$18,250,503$12,906,388$46,650,471
81$61,791,901$19,069,988$13,263,962$50,994,595
82$68,017,529$19,927,271$13,631,159$55,766,196
83$74,875,741$20,824,132$14,008,227$61,008,252
84$82,430,984$21,762,432$14,395,421$66,768,098
85$90,754,276$22,744,123$14,792,999$73,097,870
86$99,923,877$23,771,250$15,201,229$80,054,992
87$110,026,027$24,845,955$15,620,384$87,702,717
88$121,155,757$25,970,483$16,050,744$96,110,718
89$133,417,794$27,147,186$16,492,592$105,355,740
90$146,927,538$28,378,528$16,946,224$115,522,324
91$161,812,163$29,667,091$17,411,938$126,703,597
92$178,211,806$31,015,581$17,890,041$139,002,148
93$196,280,899$32,426,834$18,380,846$152,530,992
94$216,189,622$33,903,819$18,884,675$167,414,628
95$238,125,509$35,449,652$19,401,857$183,790,215
96$262,295,219$37,067,593$19,932,728$201,808,855
97$288,926,489$38,761,062$20,477,631$221,637,015
98$318,270,278$40,533,642$21,036,919$243,458,097
99$350,603,142$42,389,086$21,610,952$267,474,154
100$386,229,842$44,331,330$22,200,098$293,907,800