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%16.3%
1 years$578,053$572,904$567,881$562,978$558,190$543,813
2 years$286,165$280,836$275,670$270,662$265,805$251,416
3 years$188,882$183,529$178,377$173,416$168,637$154,687
4 years$140,249$134,913$129,813$124,936$120,274$106,869
5 years$111,078$105,774$100,740$95,963$91,430$78,608
6 years$91,636$86,372$81,413$76,743$72,346$60,118
7 years$77,755$72,535$67,655$63,094$58,836$47,205
8 years$67,349$62,176$57,376$52,928$48,810$37,770
9 years$59,259$54,135$49,418$45,083$41,105$30,646
10 years$52,792$47,718$43,084$38,862$35,024$25,133
11 years$47,503$42,480$37,930$33,822$30,122$20,785
12 years$43,099$38,128$33,662$29,666$26,103$17,303
13 years$39,376$34,457$30,075$26,191$22,762$14,482
14 years$36,187$31,320$27,023$23,249$19,953$12,173
15 years$33,426$28,611$24,398$20,734$17,568$10,269
16 years$31,013$26,250$22,120$18,565$15,527$8,689
17 years$28,885$24,176$20,128$16,681$13,767$7,370
18 years$26,996$22,339$18,375$15,033$12,241$6,264
19 years$25,308$20,704$16,821$13,583$10,911$5,333
20 years$23,791$19,239$15,438$12,302$9,746$4,547
21 years$22,420$17,921$14,200$11,165$8,721$3,882
22 years$21,175$16,728$13,087$10,152$7,817$3,318
23 years$20,040$15,645$12,084$9,245$7,017$2,838
24 years$19,001$14,659$11,175$8,432$6,307$2,429
25 years$18,047$13,757$10,351$7,701$5,676$2,081
26 years$17,168$12,929$9,600$7,041$5,112$1,783
27 years$16,355$12,168$8,914$6,445$4,609$1,529
28 years$15,601$11,466$8,287$5,905$4,159$1,312
29 years$14,901$10,816$7,712$5,415$3,756$1,125
30 years$14,249$10,215$7,183$4,970$3,393$966
31 years$13,640$9,657$6,697$4,564$3,068$829
32 years$13,070$9,137$6,248$4,195$2,775$712
33 years$12,536$8,653$5,834$3,857$2,512$612
34 years$12,034$8,201$5,451$3,549$2,274$525
35 years$11,562$7,779$5,096$3,267$2,060$451
36 years$11,118$7,383$4,767$3,009$1,866$388
37 years$10,698$7,012$4,462$2,772$1,691$333
38 years$10,301$6,664$4,179$2,555$1,533$286
39 years$9,926$6,337$3,915$2,356$1,390$246
40 years$9,570$6,029$3,669$2,173$1,261$212
41 years$9,233$5,739$3,441$2,005$1,144$182
42 years$8,912$5,466$3,228$1,850$1,038$156
43 years$8,607$5,208$3,029$1,708$942$134
44 years$8,317$4,964$2,843$1,577$855$116
45 years$8,041$4,734$2,669$1,457$776$99
46 years$7,777$4,516$2,507$1,345$705$85
47 years$7,525$4,309$2,355$1,243$640$73
48 years$7,285$4,114$2,213$1,149$581$63
49 years$7,055$3,928$2,080$1,062$528$54
50 years$6,834$3,753$1,956$981$480$47

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 $3,568 every year, while hoping to spend $42,710 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: 56/37/7 Blend
59$7,000,000$7,000,000$7,000,000$7,000,000
60$7,717,680$7,346,680$7,238,180$8,137,563
61$8,459,441$7,661,225$7,435,216$8,735,468
62$9,275,429$7,989,750$7,637,422$9,381,281
63$10,173,172$8,332,897$7,844,924$10,083,608
64$11,160,961$8,691,334$8,057,855$10,847,835
65$12,247,934$9,065,765$8,276,348$11,679,884
66$13,444,157$9,456,921$8,500,540$12,586,262
67$14,760,724$9,865,573$8,730,570$13,574,123
68$16,209,856$10,292,525$8,966,583$14,651,333
69$17,805,022$10,738,618$9,208,723$15,826,539
70$19,561,059$11,204,736$9,457,141$17,109,254
71$21,494,320$11,691,801$9,711,988$18,509,936
72$23,622,822$12,200,780$9,973,421$20,040,092
73$25,966,418$12,732,686$10,241,598$21,712,378
74$28,546,983$13,288,579$10,516,682$23,540,717
75$31,388,624$13,869,567$10,798,840$25,540,428
76$34,517,902$14,476,815$11,088,240$27,728,367
77$37,964,087$15,111,538$11,385,055$30,123,082
78$41,759,432$15,775,012$11,689,462$32,744,984
79$45,939,477$16,468,570$12,001,642$35,616,537
80$50,543,385$17,193,611$12,321,778$38,762,466
81$55,614,311$17,951,599$12,650,059$42,209,983
82$61,199,810$18,744,066$12,986,675$45,989,045
83$67,352,284$19,572,619$13,331,822$50,132,629
84$74,129,478$20,438,939$13,685,699$54,677,037
85$81,595,025$21,344,787$14,048,510$59,662,237
86$89,819,045$22,292,009$14,420,462$65,132,231
87$98,878,806$23,282,536$14,801,767$71,135,471
88$108,859,457$24,318,392$15,192,638$77,725,304
89$119,854,827$25,401,699$15,593,297$84,960,473
90$131,968,314$26,534,677$16,003,967$92,905,664
91$145,313,857$27,719,651$16,424,875$101,632,114
92$160,017,016$28,959,060$16,856,254$111,218,269
93$176,216,154$30,255,456$17,298,341$121,750,524
94$194,063,742$31,611,513$17,751,375$133,324,029
95$213,727,800$33,030,034$18,215,603$146,043,577
96$235,393,483$34,513,954$18,691,274$160,024,588
97$259,264,828$36,066,347$19,178,640$175,394,190
98$285,566,678$37,690,435$19,677,962$192,292,408
99$314,546,807$39,389,594$20,189,502$210,873,477
100$346,478,257$41,167,360$20,713,526$231,307,289