Can I retire at age 64 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%13.7%
1 years$578,053$572,904$567,881$562,978$558,190$549,622
2 years$286,165$280,836$275,670$270,662$265,805$257,193
3 years$188,882$183,529$178,377$173,416$168,637$160,250
4 years$140,249$134,913$129,813$124,936$120,274$112,176
5 years$111,078$105,774$100,740$95,963$91,430$83,645
6 years$91,636$86,372$81,413$76,743$72,346$64,882
7 years$77,755$72,535$67,655$63,094$58,836$51,697
8 years$67,349$62,176$57,376$52,928$48,810$41,994
9 years$59,259$54,135$49,418$45,083$41,105$34,608
10 years$52,792$47,718$43,084$38,862$35,024$28,841
11 years$47,503$42,480$37,930$33,822$30,122$24,247
12 years$43,099$38,128$33,662$29,666$26,103$20,529
13 years$39,376$34,457$30,075$26,191$22,762$17,481
14 years$36,187$31,320$27,023$23,249$19,953$14,956
15 years$33,426$28,611$24,398$20,734$17,568$12,847
16 years$31,013$26,250$22,120$18,565$15,527$11,071
17 years$28,885$24,176$20,128$16,681$13,767$9,568
18 years$26,996$22,339$18,375$15,033$12,241$8,288
19 years$25,308$20,704$16,821$13,583$10,911$7,194
20 years$23,791$19,239$15,438$12,302$9,746$6,255
21 years$22,420$17,921$14,200$11,165$8,721$5,447
22 years$21,175$16,728$13,087$10,152$7,817$4,749
23 years$20,040$15,645$12,084$9,245$7,017$4,145
24 years$19,001$14,659$11,175$8,432$6,307$3,622
25 years$18,047$13,757$10,351$7,701$5,676$3,167
26 years$17,168$12,929$9,600$7,041$5,112$2,771
27 years$16,355$12,168$8,914$6,445$4,609$2,427
28 years$15,601$11,466$8,287$5,905$4,159$2,126
29 years$14,901$10,816$7,712$5,415$3,756$1,864
30 years$14,249$10,215$7,183$4,970$3,393$1,634
31 years$13,640$9,657$6,697$4,564$3,068$1,434
32 years$13,070$9,137$6,248$4,195$2,775$1,258
33 years$12,536$8,653$5,834$3,857$2,512$1,104
34 years$12,034$8,201$5,451$3,549$2,274$969
35 years$11,562$7,779$5,096$3,267$2,060$851
36 years$11,118$7,383$4,767$3,009$1,866$748
37 years$10,698$7,012$4,462$2,772$1,691$657
38 years$10,301$6,664$4,179$2,555$1,533$577
39 years$9,926$6,337$3,915$2,356$1,390$507
40 years$9,570$6,029$3,669$2,173$1,261$446
41 years$9,233$5,739$3,441$2,005$1,144$392
42 years$8,912$5,466$3,228$1,850$1,038$344
43 years$8,607$5,208$3,029$1,708$942$303
44 years$8,317$4,964$2,843$1,577$855$266
45 years$8,041$4,734$2,669$1,457$776$234
46 years$7,777$4,516$2,507$1,345$705$206
47 years$7,525$4,309$2,355$1,243$640$181
48 years$7,285$4,114$2,213$1,149$581$159
49 years$7,055$3,928$2,080$1,062$528$140
50 years$6,834$3,753$1,956$981$480$123

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $7,000,000, adding $2,420 every year, while hoping to spend $36,630 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: 41/37/22 Blend
63$7,000,000$7,000,000$7,000,000$7,000,000
64$7,716,496$7,345,496$7,236,996$7,982,783
65$8,464,605$7,666,452$7,440,462$8,494,419
66$9,287,793$8,001,906$7,649,515$9,044,167
67$10,193,680$8,352,531$7,864,306$9,638,475
68$11,190,661$8,719,031$8,084,986$10,281,445
69$12,287,986$9,102,142$8,311,711$10,977,576
70$13,495,849$9,502,635$8,544,642$11,731,812
71$14,825,481$9,921,319$8,783,942$12,549,576
72$16,289,256$10,359,040$9,029,781$13,436,827
73$17,900,811$10,816,684$9,282,329$14,400,109
74$19,675,171$11,295,178$9,541,764$15,446,613
75$21,628,892$11,795,496$9,808,268$16,584,236
76$23,780,220$12,318,656$10,082,025$17,821,659
77$26,149,256$12,865,724$10,363,226$19,168,423
78$28,758,152$13,437,816$10,652,067$20,635,015
79$31,631,318$14,036,104$10,948,746$22,232,962
80$34,795,653$14,661,813$11,253,468$23,974,940
81$38,280,794$15,316,227$11,566,444$25,874,887
82$42,119,403$16,000,690$11,887,889$27,948,131
83$46,347,471$16,716,612$12,218,021$30,211,530
84$51,004,655$17,465,469$12,557,068$32,683,626
85$56,134,660$18,248,807$12,905,259$35,384,819
86$61,785,642$19,068,245$13,262,832$38,337,549
87$68,010,670$19,925,481$13,630,029$41,566,509
88$74,868,221$20,822,293$14,007,098$45,098,865
89$82,422,738$21,760,543$14,394,294$48,964,515
90$90,745,231$22,742,183$14,791,877$53,196,360
91$99,913,952$23,769,258$15,200,112$57,830,610
92$110,015,133$24,843,910$15,619,274$62,907,120
93$121,143,799$25,968,383$16,049,641$68,469,759
94$133,404,662$27,145,030$16,491,501$74,566,817
95$146,913,116$28,376,315$16,945,144$81,251,453
96$161,796,319$29,664,820$17,410,872$88,582,192
97$178,194,398$31,013,251$17,888,991$96,623,464
98$196,261,769$32,424,442$18,379,814$105,446,211
99$216,168,596$33,901,366$18,883,664$115,128,542
100$238,102,394$35,447,135$19,400,869$125,756,464