Can I retire at age 66 with 7,200,000?

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 $7,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$594,569$589,273$584,106$579,063$574,138$558,673
2 years$294,341$288,859$283,547$278,396$273,399$257,928
3 years$194,278$188,773$183,473$178,371$173,456$158,464
4 years$144,257$138,768$133,522$128,506$123,710$109,312
5 years$114,251$108,796$103,618$98,705$94,042$80,278
6 years$94,255$88,840$83,739$78,935$74,413$61,295
7 years$79,977$74,608$69,587$64,897$60,517$48,048
8 years$69,273$63,953$59,016$54,440$50,205$38,377
9 years$60,953$55,682$50,830$46,371$42,280$31,082
10 years$54,300$49,081$44,315$39,972$36,025$25,443
11 years$48,860$43,694$39,014$34,788$30,982$21,001
12 years$44,331$39,217$34,624$30,514$26,849$17,448
13 years$40,501$35,441$30,934$26,939$23,413$14,574
14 years$37,221$32,215$27,795$23,913$20,523$12,225
15 years$34,381$29,429$25,095$21,327$18,070$10,292
16 years$31,899$27,000$22,752$19,096$15,971$8,689
17 years$29,711$24,866$20,704$17,157$14,161$7,354
18 years$27,768$22,978$18,900$15,462$12,591$6,237
19 years$26,031$21,296$17,302$13,971$11,223$5,298
20 years$24,471$19,789$15,879$12,654$10,024$4,507
21 years$23,060$18,433$14,605$11,484$8,971$3,839
22 years$21,780$17,206$13,461$10,442$8,041$3,273
23 years$20,613$16,092$12,429$9,509$7,218$2,793
24 years$19,544$15,078$11,495$8,673$6,488$2,385
25 years$18,563$14,150$10,646$7,921$5,838$2,038
26 years$17,658$13,298$9,874$7,242$5,259$1,743
27 years$16,822$12,515$9,169$6,629$4,741$1,490
28 years$16,047$11,793$8,524$6,074$4,278$1,275
29 years$15,327$11,125$7,932$5,570$3,863$1,092
30 years$14,656$10,507$7,388$5,112$3,490$935
31 years$14,030$9,932$6,888$4,695$3,156$800
32 years$13,444$9,398$6,427$4,314$2,854$686
33 years$12,894$8,900$6,000$3,968$2,583$587
34 years$12,378$8,435$5,606$3,650$2,339$503
35 years$11,893$8,001$5,242$3,360$2,118$431
36 years$11,435$7,594$4,903$3,095$1,919$370
37 years$11,004$7,212$4,590$2,852$1,740$317
38 years$10,596$6,854$4,298$2,628$1,577$272
39 years$10,209$6,518$4,027$2,423$1,430$233
40 years$9,844$6,201$3,774$2,235$1,297$200
41 years$9,496$5,903$3,539$2,062$1,177$171
42 years$9,167$5,622$3,320$1,903$1,068$147
43 years$8,853$5,356$3,115$1,757$969$126
44 years$8,555$5,106$2,924$1,622$880$108
45 years$8,270$4,869$2,746$1,498$799$93
46 years$7,999$4,645$2,579$1,384$725$79
47 years$7,740$4,432$2,423$1,279$658$68
48 years$7,493$4,231$2,277$1,181$598$58
49 years$7,256$4,041$2,140$1,092$543$50
50 years$7,030$3,860$2,012$1,009$493$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $7,200,000, adding $2,325 every year, while hoping to spend $55,748 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: 77/14/9 Blend
65$7,200,000$7,200,000$7,200,000$7,200,000
66$7,936,798$7,555,198$7,443,598$8,536,401
67$8,687,036$7,866,088$7,633,643$9,241,799
68$9,511,930$8,190,342$7,828,187$10,007,635
69$10,419,036$8,528,558$8,027,320$10,845,714
70$11,416,678$8,881,358$8,231,136$11,763,199
71$12,514,030$9,249,394$8,439,729$12,767,979
72$13,721,196$9,633,350$8,653,195$13,868,738
73$15,049,311$10,033,937$8,871,630$15,075,038
74$16,510,643$10,451,902$9,095,132$16,397,407
75$18,118,710$10,888,027$9,323,800$17,847,440
76$19,888,404$11,343,127$9,557,734$19,437,904
77$21,836,138$11,818,056$9,797,034$21,182,859
78$23,979,993$12,313,710$10,041,804$23,097,790
79$26,339,893$12,831,022$10,292,145$25,199,749
80$28,937,792$13,370,972$10,548,161$27,507,520
81$31,797,880$13,934,583$10,809,958$30,041,790
82$34,946,812$14,522,926$11,077,641$32,825,343
83$38,413,961$15,137,124$11,351,316$35,883,277
84$42,231,690$15,778,348$11,631,090$39,243,238
85$46,435,662$16,447,826$11,917,070$42,935,676
86$51,065,174$17,146,844$12,209,366$46,994,136
87$56,163,527$17,876,745$12,508,086$51,455,569
88$61,778,438$18,638,937$12,813,339$56,360,682
89$67,962,487$19,434,893$13,125,233$61,754,316
90$74,773,612$20,266,154$13,443,880$67,685,873
91$82,275,659$21,134,334$13,769,388$74,209,775
92$90,538,981$22,041,121$14,101,868$81,385,979
93$99,641,105$22,988,284$14,441,428$89,280,538
94$109,667,461$23,977,673$14,788,180$97,966,227
95$120,712,189$25,011,226$15,142,230$107,523,222
96$132,879,026$26,090,970$15,503,689$118,039,856
97$146,282,288$27,219,028$15,872,663$129,613,452
98$161,047,945$28,397,624$16,249,261$142,351,240
99$177,314,812$29,629,085$16,633,588$156,371,360
100$195,235,859$30,915,846$17,025,749$171,803,981