Can I retire at age 54 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%17.2%
1 years$578,053$572,904$567,881$562,978$558,190$541,842
2 years$286,165$280,836$275,670$270,662$265,805$249,467
3 years$188,882$183,529$178,377$173,416$168,637$152,822
4 years$140,249$134,913$129,813$124,936$120,274$105,101
5 years$111,078$105,774$100,740$95,963$91,430$76,943
6 years$91,636$86,372$81,413$76,743$72,346$58,556
7 years$77,755$72,535$67,655$63,094$58,836$45,744
8 years$67,349$62,176$57,376$52,928$48,810$36,408
9 years$59,259$54,135$49,418$45,083$41,105$29,381
10 years$52,792$47,718$43,084$38,862$35,024$23,960
11 years$47,503$42,480$37,930$33,822$30,122$19,701
12 years$43,099$38,128$33,662$29,666$26,103$16,304
13 years$39,376$34,457$30,075$26,191$22,762$13,563
14 years$36,187$31,320$27,023$23,249$19,953$11,330
15 years$33,426$28,611$24,398$20,734$17,568$9,498
16 years$31,013$26,250$22,120$18,565$15,527$7,985
17 years$28,885$24,176$20,128$16,681$13,767$6,728
18 years$26,996$22,339$18,375$15,033$12,241$5,681
19 years$25,308$20,704$16,821$13,583$10,911$4,804
20 years$23,791$19,239$15,438$12,302$9,746$4,068
21 years$22,420$17,921$14,200$11,165$8,721$3,449
22 years$21,175$16,728$13,087$10,152$7,817$2,927
23 years$20,040$15,645$12,084$9,245$7,017$2,486
24 years$19,001$14,659$11,175$8,432$6,307$2,113
25 years$18,047$13,757$10,351$7,701$5,676$1,797
26 years$17,168$12,929$9,600$7,041$5,112$1,529
27 years$16,355$12,168$8,914$6,445$4,609$1,301
28 years$15,601$11,466$8,287$5,905$4,159$1,108
29 years$14,901$10,816$7,712$5,415$3,756$944
30 years$14,249$10,215$7,183$4,970$3,393$804
31 years$13,640$9,657$6,697$4,564$3,068$685
32 years$13,070$9,137$6,248$4,195$2,775$584
33 years$12,536$8,653$5,834$3,857$2,512$498
34 years$12,034$8,201$5,451$3,549$2,274$424
35 years$11,562$7,779$5,096$3,267$2,060$362
36 years$11,118$7,383$4,767$3,009$1,866$309
37 years$10,698$7,012$4,462$2,772$1,691$263
38 years$10,301$6,664$4,179$2,555$1,533$224
39 years$9,926$6,337$3,915$2,356$1,390$191
40 years$9,570$6,029$3,669$2,173$1,261$163
41 years$9,233$5,739$3,441$2,005$1,144$139
42 years$8,912$5,466$3,228$1,850$1,038$119
43 years$8,607$5,208$3,029$1,708$942$101
44 years$8,317$4,964$2,843$1,577$855$86
45 years$8,041$4,734$2,669$1,457$776$74
46 years$7,777$4,516$2,507$1,345$705$63
47 years$7,525$4,309$2,355$1,243$640$54
48 years$7,285$4,114$2,213$1,149$581$46
49 years$7,055$3,928$2,080$1,062$528$39
50 years$6,834$3,753$1,956$981$480$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $7,000,000, adding $4,013 every year, while hoping to spend $57,571 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: 76/18/6 Blend
53$7,000,000$7,000,000$7,000,000$7,000,000
54$7,718,139$7,347,139$7,238,639$8,299,885
55$8,444,135$7,645,894$7,419,879$8,981,348
56$9,242,252$7,957,358$7,605,260$9,720,264
57$10,119,786$8,282,094$7,794,861$10,528,466
58$11,084,777$8,620,689$7,988,761$11,412,803
59$12,146,078$8,973,757$8,187,039$12,380,813
60$13,313,448$9,341,941$8,389,775$13,440,794
61$14,597,637$9,725,913$8,597,049$14,601,881
62$16,010,488$10,126,375$8,808,943$15,874,133
63$17,565,053$10,544,063$9,025,538$17,268,623
64$19,275,711$10,979,744$9,246,915$18,797,544
65$21,158,305$11,434,223$9,473,159$20,474,324
66$23,230,292$11,908,340$9,704,350$22,313,746
67$25,510,909$12,402,975$9,940,572$24,332,093
68$28,021,348$12,919,048$10,181,908$26,547,293
69$30,784,965$13,457,520$10,428,441$28,979,095
70$33,827,492$14,019,399$10,680,254$31,649,244
71$37,177,284$14,605,738$10,937,431$34,581,693
72$40,865,585$15,217,638$11,200,053$37,802,824
73$44,926,824$15,856,251$11,468,205$41,341,693
74$49,398,938$16,522,785$11,741,967$45,230,306
75$54,323,729$17,218,501$12,021,422$49,503,918
76$59,747,261$17,944,719$12,306,651$54,201,363
77$65,720,292$18,702,820$12,597,734$59,365,418
78$72,298,754$19,494,251$12,894,751$65,043,205
79$79,544,282$20,320,525$13,197,780$71,286,635
80$87,524,793$21,183,224$13,506,900$78,152,895
81$96,315,125$22,084,006$13,822,184$85,704,981
82$105,997,750$23,024,604$14,143,710$94,012,296
83$116,663,545$24,006,834$14,471,548$103,151,300
84$128,412,652$25,032,595$14,805,771$113,206,228
85$141,355,426$26,103,875$15,146,447$124,269,883
86$155,613,470$27,222,755$15,493,644$136,444,509
87$171,320,787$28,391,414$15,847,425$149,842,752
88$188,625,046$29,612,132$16,207,852$164,588,720
89$207,688,969$30,887,295$16,574,983$180,819,154
90$228,691,874$32,219,402$16,948,875$198,684,710
91$251,831,362$33,611,070$17,329,580$218,351,381
92$277,325,185$35,065,036$17,717,144$240,002,059
93$305,413,299$36,584,168$18,111,614$263,838,256
94$336,360,130$38,171,467$18,513,027$290,082,006
95$370,457,070$39,830,076$18,921,421$318,977,950
96$408,025,227$41,563,285$19,336,824$350,795,645
97$449,418,454$43,374,540$19,759,262$385,832,105
98$495,026,692$45,267,448$20,188,752$424,414,596
99$545,279,648$47,245,786$20,625,309$466,903,719
100$600,650,853$49,313,511$21,068,938$513,696,815