Can I retire at age 66 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%17.1%
1 years$578,053$572,904$567,881$562,978$558,190$542,060
2 years$286,165$280,836$275,670$270,662$265,805$249,682
3 years$188,882$183,529$178,377$173,416$168,637$153,027
4 years$140,249$134,913$129,813$124,936$120,274$105,296
5 years$111,078$105,774$100,740$95,963$91,430$77,126
6 years$91,636$86,372$81,413$76,743$72,346$58,727
7 years$77,755$72,535$67,655$63,094$58,836$45,904
8 years$67,349$62,176$57,376$52,928$48,810$36,557
9 years$59,259$54,135$49,418$45,083$41,105$29,519
10 years$52,792$47,718$43,084$38,862$35,024$24,088
11 years$47,503$42,480$37,930$33,822$30,122$19,818
12 years$43,099$38,128$33,662$29,666$26,103$16,412
13 years$39,376$34,457$30,075$26,191$22,762$13,662
14 years$36,187$31,320$27,023$23,249$19,953$11,421
15 years$33,426$28,611$24,398$20,734$17,568$9,581
16 years$31,013$26,250$22,120$18,565$15,527$8,060
17 years$28,885$24,176$20,128$16,681$13,767$6,797
18 years$26,996$22,339$18,375$15,033$12,241$5,743
19 years$25,308$20,704$16,821$13,583$10,911$4,860
20 years$23,791$19,239$15,438$12,302$9,746$4,119
21 years$22,420$17,921$14,200$11,165$8,721$3,495
22 years$21,175$16,728$13,087$10,152$7,817$2,968
23 years$20,040$15,645$12,084$9,245$7,017$2,523
24 years$19,001$14,659$11,175$8,432$6,307$2,146
25 years$18,047$13,757$10,351$7,701$5,676$1,826
26 years$17,168$12,929$9,600$7,041$5,112$1,555
27 years$16,355$12,168$8,914$6,445$4,609$1,325
28 years$15,601$11,466$8,287$5,905$4,159$1,129
29 years$14,901$10,816$7,712$5,415$3,756$962
30 years$14,249$10,215$7,183$4,970$3,393$821
31 years$13,640$9,657$6,697$4,564$3,068$700
32 years$13,070$9,137$6,248$4,195$2,775$597
33 years$12,536$8,653$5,834$3,857$2,512$509
34 years$12,034$8,201$5,451$3,549$2,274$435
35 years$11,562$7,779$5,096$3,267$2,060$371
36 years$11,118$7,383$4,767$3,009$1,866$317
37 years$10,698$7,012$4,462$2,772$1,691$270
38 years$10,301$6,664$4,179$2,555$1,533$231
39 years$9,926$6,337$3,915$2,356$1,390$197
40 years$9,570$6,029$3,669$2,173$1,261$168
41 years$9,233$5,739$3,441$2,005$1,144$144
42 years$8,912$5,466$3,228$1,850$1,038$123
43 years$8,607$5,208$3,029$1,708$942$105
44 years$8,317$4,964$2,843$1,577$855$89
45 years$8,041$4,734$2,669$1,457$776$76
46 years$7,777$4,516$2,507$1,345$705$65
47 years$7,525$4,309$2,355$1,243$640$56
48 years$7,285$4,114$2,213$1,149$581$47
49 years$7,055$3,928$2,080$1,062$528$41
50 years$6,834$3,753$1,956$981$480$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $7,000,000, adding $4,426 every year, while hoping to spend $40,848 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: 57/26/17 Blend
65$7,000,000$7,000,000$7,000,000$7,000,000
66$7,718,565$7,347,565$7,239,065$8,123,833
67$8,462,397$7,664,134$7,438,112$8,716,053
68$9,280,731$7,994,846$7,642,458$9,356,287
69$10,181,122$8,340,350$7,852,237$10,053,057
70$11,171,897$8,701,327$8,067,587$10,811,802
71$12,262,228$9,078,490$8,288,649$11,638,505
72$13,462,223$9,472,584$8,515,566$12,539,742
73$14,783,018$9,884,389$8,748,487$13,522,748
74$16,236,886$10,314,724$8,987,561$14,595,480
75$17,837,348$10,764,445$9,232,944$15,766,694
76$19,599,301$11,234,447$9,484,792$17,046,018
77$21,539,165$11,725,670$9,743,267$18,444,052
78$23,675,027$12,239,095$10,008,534$19,972,453
79$26,026,822$12,775,753$10,280,762$21,644,054
80$28,616,514$13,336,720$10,560,123$23,472,975
81$31,468,305$13,923,126$10,846,794$25,474,759
82$34,608,865$14,536,153$11,140,955$27,666,512
83$38,067,583$15,177,038$11,442,790$30,067,064
84$41,876,841$15,847,077$11,752,488$32,697,143
85$46,072,324$16,547,629$12,070,242$35,579,567
86$50,693,353$17,280,116$12,396,247$38,739,460
87$55,783,260$18,046,026$12,730,706$42,204,480
88$61,389,792$18,846,920$13,073,824$46,005,082
89$67,565,563$19,684,432$13,425,810$50,174,797
90$74,368,555$20,560,274$13,786,879$54,750,551
91$81,862,659$21,476,238$14,157,250$59,773,003
92$90,118,278$22,434,202$14,537,147$65,286,930
93$99,212,999$23,436,134$14,926,797$71,341,642
94$109,232,314$24,484,095$15,326,435$77,991,445
95$120,270,437$25,580,242$15,736,297$85,296,147
96$132,431,186$26,726,838$16,156,627$93,321,622
97$145,828,966$27,926,252$16,587,673$102,140,422
98$160,589,848$29,180,966$17,029,687$111,832,459
99$176,852,759$30,493,580$17,482,929$122,485,753
100$194,770,794$31,866,818$17,947,660$134,197,258