Can I retire at age 66 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%18.7%
1 years$578,053$572,904$567,881$562,978$558,190$538,599
2 years$286,165$280,836$275,670$270,662$265,805$246,273
3 years$188,882$183,529$178,377$173,416$168,637$149,779
4 years$140,249$134,913$129,813$124,936$120,274$102,232
5 years$111,078$105,774$100,740$95,963$91,430$74,253
6 years$91,636$86,372$81,413$76,743$72,346$56,045
7 years$77,755$72,535$67,655$63,094$58,836$43,411
8 years$67,349$62,176$57,376$52,928$48,810$34,246
9 years$59,259$54,135$49,418$45,083$41,105$27,384
10 years$52,792$47,718$43,084$38,862$35,024$22,123
11 years$47,503$42,480$37,930$33,822$30,122$18,014
12 years$43,099$38,128$33,662$29,666$26,103$14,760
13 years$39,376$34,457$30,075$26,191$22,762$12,154
14 years$36,187$31,320$27,023$23,249$19,953$10,048
15 years$33,426$28,611$24,398$20,734$17,568$8,334
16 years$31,013$26,250$22,120$18,565$15,527$6,931
17 years$28,885$24,176$20,128$16,681$13,767$5,777
18 years$26,996$22,339$18,375$15,033$12,241$4,823
19 years$25,308$20,704$16,821$13,583$10,911$4,033
20 years$23,791$19,239$15,438$12,302$9,746$3,376
21 years$22,420$17,921$14,200$11,165$8,721$2,829
22 years$21,175$16,728$13,087$10,152$7,817$2,373
23 years$20,040$15,645$12,084$9,245$7,017$1,992
24 years$19,001$14,659$11,175$8,432$6,307$1,673
25 years$18,047$13,757$10,351$7,701$5,676$1,406
26 years$17,168$12,929$9,600$7,041$5,112$1,182
27 years$16,355$12,168$8,914$6,445$4,609$994
28 years$15,601$11,466$8,287$5,905$4,159$836
29 years$14,901$10,816$7,712$5,415$3,756$703
30 years$14,249$10,215$7,183$4,970$3,393$592
31 years$13,640$9,657$6,697$4,564$3,068$498
32 years$13,070$9,137$6,248$4,195$2,775$419
33 years$12,536$8,653$5,834$3,857$2,512$353
34 years$12,034$8,201$5,451$3,549$2,274$297
35 years$11,562$7,779$5,096$3,267$2,060$250
36 years$11,118$7,383$4,767$3,009$1,866$211
37 years$10,698$7,012$4,462$2,772$1,691$177
38 years$10,301$6,664$4,179$2,555$1,533$149
39 years$9,926$6,337$3,915$2,356$1,390$126
40 years$9,570$6,029$3,669$2,173$1,261$106
41 years$9,233$5,739$3,441$2,005$1,144$89
42 years$8,912$5,466$3,228$1,850$1,038$75
43 years$8,607$5,208$3,029$1,708$942$63
44 years$8,317$4,964$2,843$1,577$855$53
45 years$8,041$4,734$2,669$1,457$776$45
46 years$7,777$4,516$2,507$1,345$705$38
47 years$7,525$4,309$2,355$1,243$640$32
48 years$7,285$4,114$2,213$1,149$581$27
49 years$7,055$3,928$2,080$1,062$528$23
50 years$6,834$3,753$1,956$981$480$19

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 $3,446 every year, while hoping to spend $35,691 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: 65/12/23 Blend
65$7,000,000$7,000,000$7,000,000$7,000,000
66$7,717,555$7,346,555$7,238,055$8,173,106
67$8,466,770$7,668,561$7,442,554$8,802,232
68$9,291,210$8,005,149$7,652,709$9,485,198
69$10,198,508$8,356,996$7,868,670$10,230,820
70$11,197,078$8,724,811$8,090,592$11,045,250
71$12,296,189$9,109,336$8,318,636$11,935,259
72$13,506,056$9,511,349$8,552,966$12,908,301
73$14,837,932$9,931,663$8,793,748$13,972,580
74$16,304,218$10,371,132$9,041,156$15,137,127
75$17,918,579$10,830,649$9,295,366$16,411,883
76$19,696,073$11,311,149$9,556,559$17,807,796
77$21,653,289$11,813,612$9,824,921$19,336,918
78$23,808,510$12,339,064$10,100,641$21,012,517
79$26,181,881$12,888,582$10,383,915$22,849,206
80$28,795,600$13,463,290$10,674,944$24,863,075
81$31,674,128$14,064,368$10,973,932$27,071,842
82$34,844,420$14,693,053$11,281,089$29,495,021
83$38,336,177$15,350,638$11,596,632$32,154,102
84$42,182,128$16,038,480$11,920,780$35,072,751
85$46,418,339$16,758,000$12,253,760$38,277,035
86$51,084,553$17,510,686$12,595,805$41,795,665
87$56,224,565$18,298,097$12,947,152$45,660,264
88$61,886,634$19,121,867$13,308,045$49,905,664
89$68,123,940$19,983,707$13,678,733$54,570,232
90$74,995,084$20,885,411$14,059,473$59,696,232
91$82,564,643$21,828,857$14,450,526$65,330,219
92$90,903,780$22,816,014$14,852,162$71,523,478
93$100,090,911$23,848,944$15,264,654$78,332,504
94$110,212,450$24,929,809$15,688,287$85,819,535
95$121,363,623$26,060,872$16,123,347$94,053,135
96$133,649,364$27,244,507$16,570,131$103,108,838
97$147,185,311$28,483,199$17,028,942$113,069,860
98$162,098,891$29,779,555$17,500,090$124,027,879
99$178,530,528$31,136,303$17,983,893$136,083,900
100$196,634,964$32,556,304$18,480,676$149,349,204