Can I retire at age 60 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%15.5%
1 years$578,053$572,904$567,881$562,978$558,190$545,582
2 years$286,165$280,836$275,670$270,662$265,805$253,170
3 years$188,882$183,529$178,377$173,416$168,637$156,371
4 years$140,249$134,913$129,813$124,936$120,274$108,469
5 years$111,078$105,774$100,740$95,963$91,430$80,121
6 years$91,636$86,372$81,413$76,743$72,346$61,544
7 years$77,755$72,535$67,655$63,094$58,836$48,544
8 years$67,349$62,176$57,376$52,928$48,810$39,023
9 years$59,259$54,135$49,418$45,083$41,105$31,816
10 years$52,792$47,718$43,084$38,862$35,024$26,222
11 years$47,503$42,480$37,930$33,822$30,122$21,796
12 years$43,099$38,128$33,662$29,666$26,103$18,240
13 years$39,376$34,457$30,075$26,191$22,762$15,348
14 years$36,187$31,320$27,023$23,249$19,953$12,973
15 years$33,426$28,611$24,398$20,734$17,568$11,005
16 years$31,013$26,250$22,120$18,565$15,527$9,365
17 years$28,885$24,176$20,128$16,681$13,767$7,989
18 years$26,996$22,339$18,375$15,033$12,241$6,830
19 years$25,308$20,704$16,821$13,583$10,911$5,850
20 years$23,791$19,239$15,438$12,302$9,746$5,019
21 years$22,420$17,921$14,200$11,165$8,721$4,311
22 years$21,175$16,728$13,087$10,152$7,817$3,707
23 years$20,040$15,645$12,084$9,245$7,017$3,191
24 years$19,001$14,659$11,175$8,432$6,307$2,749
25 years$18,047$13,757$10,351$7,701$5,676$2,369
26 years$17,168$12,929$9,600$7,041$5,112$2,044
27 years$16,355$12,168$8,914$6,445$4,609$1,764
28 years$15,601$11,466$8,287$5,905$4,159$1,523
29 years$14,901$10,816$7,712$5,415$3,756$1,315
30 years$14,249$10,215$7,183$4,970$3,393$1,136
31 years$13,640$9,657$6,697$4,564$3,068$982
32 years$13,070$9,137$6,248$4,195$2,775$849
33 years$12,536$8,653$5,834$3,857$2,512$734
34 years$12,034$8,201$5,451$3,549$2,274$635
35 years$11,562$7,779$5,096$3,267$2,060$549
36 years$11,118$7,383$4,767$3,009$1,866$475
37 years$10,698$7,012$4,462$2,772$1,691$411
38 years$10,301$6,664$4,179$2,555$1,533$356
39 years$9,926$6,337$3,915$2,356$1,390$308
40 years$9,570$6,029$3,669$2,173$1,261$266
41 years$9,233$5,739$3,441$2,005$1,144$230
42 years$8,912$5,466$3,228$1,850$1,038$199
43 years$8,607$5,208$3,029$1,708$942$173
44 years$8,317$4,964$2,843$1,577$855$149
45 years$8,041$4,734$2,669$1,457$776$129
46 years$7,777$4,516$2,507$1,345$705$112
47 years$7,525$4,309$2,355$1,243$640$97
48 years$7,285$4,114$2,213$1,149$581$84
49 years$7,055$3,928$2,080$1,062$528$73
50 years$6,834$3,753$1,956$981$480$63

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 $5,911 every year, while hoping to spend $37,467 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: 55/35/10 Blend
59$7,000,000$7,000,000$7,000,000$7,000,000
60$7,720,097$7,349,097$7,240,597$8,125,221
61$8,467,683$7,669,338$7,443,293$8,720,378
62$9,290,266$8,004,016$7,651,523$9,363,439
63$10,195,457$8,353,797$7,865,433$10,062,705
64$11,191,642$8,719,381$8,085,173$10,823,529
65$12,288,060$9,101,501$8,310,897$11,651,797
66$13,494,890$9,500,923$8,542,760$12,553,977
67$14,823,351$9,918,450$8,780,925$13,537,179
68$16,285,803$10,354,924$9,025,555$14,609,221
69$17,895,864$10,811,225$9,276,821$15,778,697
70$19,668,542$11,288,275$9,534,894$17,055,062
71$21,620,374$11,787,040$9,799,953$18,448,709
72$23,769,579$12,308,533$10,072,179$19,971,075
73$26,136,238$12,853,812$10,351,759$21,634,735
74$28,742,473$13,423,988$10,638,882$23,453,529
75$31,612,666$14,020,224$10,933,745$25,442,678
76$34,773,679$14,643,736$11,236,547$27,618,934
77$38,255,117$15,295,802$11,547,493$30,000,729
78$42,089,598$15,977,755$11,866,794$32,608,345
79$46,313,069$16,690,997$12,194,663$35,464,106
80$50,965,139$17,436,994$12,531,322$38,592,580
81$56,089,457$18,217,280$12,876,995$42,020,810
82$61,734,121$19,033,465$13,231,913$45,778,563
83$67,952,131$19,887,236$13,596,312$49,898,606
84$74,801,895$20,780,356$13,970,435$54,417,012
85$82,347,771$21,714,677$14,354,527$59,373,496
86$90,660,684$22,692,135$14,748,844$64,811,781
87$99,818,786$23,714,763$15,153,643$70,780,010
88$109,908,203$24,784,687$15,569,191$77,331,191
89$121,023,839$25,904,137$15,995,758$84,523,691
90$133,270,278$27,075,446$16,433,623$92,421,787
91$146,762,767$28,301,063$16,883,070$101,096,256
92$161,628,305$29,583,552$17,344,389$110,625,046
93$178,006,844$30,925,597$17,817,878$121,093,997
94$196,052,606$32,330,016$18,303,841$132,597,650
95$215,935,542$33,799,756$18,802,589$145,240,125
96$237,842,932$35,337,909$19,314,441$159,136,103
97$261,981,158$36,947,714$19,839,722$174,411,895
98$288,577,648$38,632,564$20,378,764$191,206,624
99$317,883,024$40,396,015$20,931,908$209,673,533
100$350,173,467$42,241,795$21,499,502$229,981,423