Can I retire at age 64 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%12.9%
1 years$578,053$572,904$567,881$562,978$558,190$551,443
2 years$286,165$280,836$275,670$270,662$265,805$259,015
3 years$188,882$183,529$178,377$173,416$168,637$162,016
4 years$140,249$134,913$129,813$124,936$120,274$113,871
5 years$111,078$105,774$100,740$95,963$91,430$85,265
6 years$91,636$86,372$81,413$76,743$72,346$66,425
7 years$77,755$72,535$67,655$63,094$58,836$53,163
8 years$67,349$62,176$57,376$52,928$48,810$43,384
9 years$59,259$54,135$49,418$45,083$41,105$35,924
10 years$52,792$47,718$43,084$38,862$35,024$30,083
11 years$47,503$42,480$37,930$33,822$30,122$25,418
12 years$43,099$38,128$33,662$29,666$26,103$21,630
13 years$39,376$34,457$30,075$26,191$22,762$18,516
14 years$36,187$31,320$27,023$23,249$19,953$15,926
15 years$33,426$28,611$24,398$20,734$17,568$13,755
16 years$31,013$26,250$22,120$18,565$15,527$11,920
17 years$28,885$24,176$20,128$16,681$13,767$10,359
18 years$26,996$22,339$18,375$15,033$12,241$9,026
19 years$25,308$20,704$16,821$13,583$10,911$7,880
20 years$23,791$19,239$15,438$12,302$9,746$6,892
21 years$22,420$17,921$14,200$11,165$8,721$6,038
22 years$21,175$16,728$13,087$10,152$7,817$5,297
23 years$20,040$15,645$12,084$9,245$7,017$4,652
24 years$19,001$14,659$11,175$8,432$6,307$4,090
25 years$18,047$13,757$10,351$7,701$5,676$3,599
26 years$17,168$12,929$9,600$7,041$5,112$3,169
27 years$16,355$12,168$8,914$6,445$4,609$2,793
28 years$15,601$11,466$8,287$5,905$4,159$2,463
29 years$14,901$10,816$7,712$5,415$3,756$2,173
30 years$14,249$10,215$7,183$4,970$3,393$1,918
31 years$13,640$9,657$6,697$4,564$3,068$1,694
32 years$13,070$9,137$6,248$4,195$2,775$1,496
33 years$12,536$8,653$5,834$3,857$2,512$1,322
34 years$12,034$8,201$5,451$3,549$2,274$1,168
35 years$11,562$7,779$5,096$3,267$2,060$1,033
36 years$11,118$7,383$4,767$3,009$1,866$913
37 years$10,698$7,012$4,462$2,772$1,691$808
38 years$10,301$6,664$4,179$2,555$1,533$715
39 years$9,926$6,337$3,915$2,356$1,390$632
40 years$9,570$6,029$3,669$2,173$1,261$559
41 years$9,233$5,739$3,441$2,005$1,144$495
42 years$8,912$5,466$3,228$1,850$1,038$438
43 years$8,607$5,208$3,029$1,708$942$388
44 years$8,317$4,964$2,843$1,577$855$343
45 years$8,041$4,734$2,669$1,457$776$304
46 years$7,777$4,516$2,507$1,345$705$269
47 years$7,525$4,309$2,355$1,243$640$238
48 years$7,285$4,114$2,213$1,149$581$211
49 years$7,055$3,928$2,080$1,062$528$187
50 years$6,834$3,753$1,956$981$480$165

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 $4,333 every year, while hoping to spend $48,494 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: 72/9/19 Blend
63$7,000,000$7,000,000$7,000,000$7,000,000
64$7,718,469$7,347,469$7,238,969$8,238,921
65$8,454,156$7,655,898$7,429,878$8,893,972
66$9,263,258$7,977,815$7,625,556$9,604,899
67$10,153,211$8,313,829$7,826,113$10,382,270
68$11,132,210$8,664,578$8,031,660$11,232,669
69$12,209,283$9,030,730$8,242,308$12,163,345
70$13,394,378$9,412,984$8,458,173$13,182,278
71$14,698,454$9,812,070$8,679,372$14,298,258
72$16,133,589$10,228,753$8,906,023$15,520,961
73$17,713,087$10,663,835$9,138,247$16,861,046
74$19,451,612$11,118,153$9,376,169$18,330,248
75$21,365,318$11,592,583$9,619,911$19,941,493
76$23,472,005$12,088,045$9,869,603$21,709,016
77$25,791,288$12,605,497$10,125,374$23,648,498
78$28,344,780$13,145,947$10,387,354$25,777,207
79$31,156,296$13,710,447$10,655,679$28,114,165
80$34,252,077$14,300,098$10,930,483$30,680,324
81$37,661,040$14,916,054$11,211,905$33,498,763
82$41,415,048$15,559,522$11,500,086$36,594,906
83$45,549,211$16,231,766$11,795,166$39,996,758
84$50,102,217$16,934,110$12,097,292$43,735,171
85$55,116,701$17,667,939$12,406,609$47,844,129
86$60,639,640$18,434,704$12,723,265$52,361,075
87$66,722,801$19,235,922$13,047,413$57,327,255
88$73,423,229$20,073,184$13,379,203$62,788,111
89$80,803,784$20,948,156$13,718,792$68,793,707
90$88,933,734$21,862,580$14,066,336$75,399,199
91$97,889,410$22,818,281$14,421,993$82,665,354
92$107,754,924$23,817,171$14,785,924$90,659,123
93$118,622,966$24,861,253$15,158,292$99,454,270
94$130,595,675$25,952,620$15,539,262$109,132,068
95$143,785,605$27,093,470$15,928,998$119,782,060
96$158,316,787$28,286,100$16,327,669$131,502,910
97$174,325,898$29,532,918$16,735,446$144,403,322
98$191,963,554$30,836,445$17,152,497$158,603,073
99$211,395,728$32,199,323$17,578,997$174,234,137
100$232,805,318$33,624,315$18,015,120$191,441,928