Can I retire at age 60 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%14.6%
1 years$578,053$572,904$567,881$562,978$558,190$547,592
2 years$286,165$280,836$275,670$270,662$265,805$255,169
3 years$188,882$183,529$178,377$173,416$168,637$158,295
4 years$140,249$134,913$129,813$124,936$120,274$110,304
5 years$111,078$105,774$100,740$95,963$91,430$81,862
6 years$91,636$86,372$81,413$76,743$72,346$63,190
7 years$77,755$72,535$67,655$63,094$58,836$50,095
8 years$67,349$62,176$57,376$52,928$48,810$40,482
9 years$59,259$54,135$49,418$45,083$41,105$33,184
10 years$52,792$47,718$43,084$38,862$35,024$27,502
11 years$47,503$42,480$37,930$33,822$30,122$22,991
12 years$43,099$38,128$33,662$29,666$26,103$19,353
13 years$39,376$34,457$30,075$26,191$22,762$16,382
14 years$36,187$31,320$27,023$23,249$19,953$13,931
15 years$33,426$28,611$24,398$20,734$17,568$11,892
16 years$31,013$26,250$22,120$18,565$15,527$10,184
17 years$28,885$24,176$20,128$16,681$13,767$8,745
18 years$26,996$22,339$18,375$15,033$12,241$7,526
19 years$25,308$20,704$16,821$13,583$10,911$6,489
20 years$23,791$19,239$15,438$12,302$9,746$5,605
21 years$22,420$17,921$14,200$11,165$8,721$4,847
22 years$21,175$16,728$13,087$10,152$7,817$4,197
23 years$20,040$15,645$12,084$9,245$7,017$3,638
24 years$19,001$14,659$11,175$8,432$6,307$3,156
25 years$18,047$13,757$10,351$7,701$5,676$2,741
26 years$17,168$12,929$9,600$7,041$5,112$2,381
27 years$16,355$12,168$8,914$6,445$4,609$2,070
28 years$15,601$11,466$8,287$5,905$4,159$1,800
29 years$14,901$10,816$7,712$5,415$3,756$1,566
30 years$14,249$10,215$7,183$4,970$3,393$1,363
31 years$13,640$9,657$6,697$4,564$3,068$1,187
32 years$13,070$9,137$6,248$4,195$2,775$1,034
33 years$12,536$8,653$5,834$3,857$2,512$901
34 years$12,034$8,201$5,451$3,549$2,274$785
35 years$11,562$7,779$5,096$3,267$2,060$684
36 years$11,118$7,383$4,767$3,009$1,866$596
37 years$10,698$7,012$4,462$2,772$1,691$520
38 years$10,301$6,664$4,179$2,555$1,533$453
39 years$9,926$6,337$3,915$2,356$1,390$395
40 years$9,570$6,029$3,669$2,173$1,261$345
41 years$9,233$5,739$3,441$2,005$1,144$301
42 years$8,912$5,466$3,228$1,850$1,038$262
43 years$8,607$5,208$3,029$1,708$942$229
44 years$8,317$4,964$2,843$1,577$855$199
45 years$8,041$4,734$2,669$1,457$776$174
46 years$7,777$4,516$2,507$1,345$705$152
47 years$7,525$4,309$2,355$1,243$640$132
48 years$7,285$4,114$2,213$1,149$581$115
49 years$7,055$3,928$2,080$1,062$528$101
50 years$6,834$3,753$1,956$981$480$88

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $7,000,000, adding $5,957 every year, while hoping to spend $46,367 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: 79/12/9 Blend
59$7,000,000$7,000,000$7,000,000$7,000,000
60$7,720,145$7,349,145$7,240,645$8,319,053
61$8,458,265$7,659,919$7,433,872$9,023,703
62$9,270,120$7,984,366$7,632,019$9,789,899
63$10,163,181$8,323,109$7,835,200$10,629,063
64$11,145,681$8,676,797$8,043,535$11,548,456
65$12,226,691$9,046,110$8,257,143$12,556,072
66$13,416,204$9,431,760$8,476,148$13,660,712
67$14,725,232$9,834,492$8,700,675$14,872,069
68$16,165,910$10,255,086$8,930,851$16,200,816
69$17,751,606$10,694,359$9,166,808$17,658,707
70$19,497,051$11,153,164$9,408,678$19,258,687
71$21,418,478$11,632,396$9,656,595$21,015,012
72$23,533,770$12,132,991$9,910,699$22,943,383
73$25,862,637$12,655,930$10,171,130$25,061,095
74$28,426,794$13,202,238$10,438,031$27,387,195
75$31,250,168$13,772,990$10,711,546$29,942,664
76$34,359,128$14,369,309$10,991,826$32,750,612
77$37,782,728$14,992,373$11,279,020$35,836,495
78$41,552,982$15,643,415$11,573,283$39,228,355
79$45,705,169$16,323,726$11,874,771$42,957,082
80$50,278,163$17,034,655$12,183,643$47,056,704
81$55,314,801$17,777,619$12,500,061$51,564,707
82$60,862,287$18,554,098$12,824,189$56,522,388
83$66,972,635$19,365,644$13,156,194$61,975,241
84$73,703,165$20,213,882$13,496,248$67,973,386
85$81,117,037$21,100,511$13,844,521$74,572,043
86$89,283,853$22,027,314$14,201,191$81,832,044
87$98,280,310$22,996,157$14,566,435$89,820,412
88$108,190,924$24,008,991$14,940,433$98,610,989
89$119,108,832$25,067,865$15,323,371$108,285,132
90$131,136,662$26,174,920$15,715,433$118,932,476
91$144,387,511$27,332,400$16,116,809$130,651,779
92$158,986,006$28,542,657$16,527,692$143,551,855
93$175,069,483$29,808,152$16,948,274$157,752,593
94$192,789,283$31,131,463$17,378,753$173,386,091
95$212,312,177$32,515,293$17,819,329$190,597,896
96$233,821,946$33,962,469$18,270,203$209,548,378
97$257,521,110$35,475,955$18,731,581$230,414,241
98$283,632,843$37,058,856$19,203,668$253,390,184
99$312,403,076$38,714,424$19,686,674$278,690,742
100$344,102,823$40,446,064$20,180,811$306,552,301