Can I retire at age 59 with 7,100,000?

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 $7,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$586,311$581,089$575,993$571,020$566,164$552,029
2 years$290,253$284,847$279,608$274,529$269,602$255,451
3 years$191,580$186,151$180,925$175,893$171,047$157,322
4 years$142,253$136,841$131,667$126,721$121,992$108,799
5 years$112,665$107,285$102,179$97,334$92,736$80,112
6 years$92,945$87,606$82,576$77,839$73,379$61,335
7 years$78,866$73,571$68,621$63,996$59,677$48,216
8 years$68,311$63,064$58,196$53,684$49,508$38,624
9 years$60,106$54,909$50,124$45,727$41,693$31,377
10 years$53,546$48,399$43,699$39,417$35,524$25,764
11 years$48,182$43,087$38,472$34,305$30,552$21,334
12 years$43,715$38,673$34,143$30,090$26,476$17,783
13 years$39,939$34,949$30,505$26,565$23,087$14,904
14 years$36,704$31,768$27,409$23,581$20,238$12,545
15 years$33,904$29,020$24,746$21,030$17,819$10,598
16 years$31,456$26,625$22,436$18,830$15,749$8,980
17 years$29,298$24,521$20,416$16,919$13,964$7,628
18 years$27,382$22,659$18,637$15,247$12,416$6,493
19 years$25,670$21,000$17,061$13,777$11,067$5,536
20 years$24,131$19,514$15,658$12,478$9,885$4,728
21 years$22,740$18,177$14,402$11,325$8,846$4,042
22 years$21,477$16,967$13,274$10,297$7,929$3,460
23 years$20,326$15,869$12,256$9,377$7,118$2,964
24 years$19,273$14,868$11,335$8,553$6,398$2,541
25 years$18,305$13,953$10,498$7,811$5,757$2,180
26 years$17,413$13,114$9,737$7,142$5,186$1,872
27 years$16,589$12,341$9,041$6,537$4,675$1,607
28 years$15,824$11,629$8,405$5,989$4,218$1,381
29 years$15,114$10,971$7,822$5,492$3,809$1,187
30 years$14,453$10,361$7,286$5,041$3,442$1,020
31 years$13,835$9,794$6,792$4,629$3,112$878
32 years$13,257$9,268$6,337$4,255$2,815$755
33 years$12,715$8,777$5,917$3,912$2,547$649
34 years$12,206$8,318$5,529$3,600$2,306$559
35 years$11,728$7,890$5,169$3,314$2,089$481
36 years$11,276$7,488$4,835$3,052$1,893$414
37 years$10,851$7,112$4,526$2,812$1,715$356
38 years$10,448$6,759$4,238$2,592$1,555$307
39 years$10,068$6,427$3,971$2,390$1,410$264
40 years$9,707$6,115$3,722$2,204$1,279$227
41 years$9,364$5,821$3,490$2,034$1,161$196
42 years$9,039$5,544$3,274$1,877$1,053$169
43 years$8,730$5,282$3,072$1,733$956$145
44 years$8,436$5,035$2,883$1,600$867$125
45 years$8,155$4,801$2,707$1,477$788$108
46 years$7,888$4,580$2,543$1,365$715$93
47 years$7,633$4,371$2,389$1,261$649$80
48 years$7,389$4,173$2,245$1,165$590$69
49 years$7,155$3,985$2,110$1,077$536$59
50 years$6,932$3,806$1,984$995$486$51

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $7,100,000, adding $4,138 every year, while hoping to spend $30,630 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: 78/6/16 Blend
58$7,100,000$7,100,000$7,100,000$7,100,000
59$7,828,468$7,452,168$7,342,118$8,411,795
60$8,594,382$7,784,735$7,555,489$9,129,597
61$9,437,392$8,132,570$7,774,981$9,912,493
62$10,365,331$8,496,390$8,000,768$10,770,440
63$11,386,827$8,876,945$8,233,026$11,710,931
64$12,511,388$9,275,021$8,471,937$12,742,220
65$13,749,493$9,691,440$8,717,691$13,873,395
66$15,112,686$10,127,066$8,970,478$15,114,465
67$16,613,688$10,582,800$9,230,497$16,476,456
68$18,266,516$11,059,589$9,497,951$17,971,508
69$20,086,618$11,558,426$9,773,049$19,612,997
70$22,091,013$12,080,348$10,056,005$21,415,653
71$24,298,456$12,626,445$10,347,041$23,395,703
72$26,729,614$13,197,857$10,646,383$25,571,020
73$29,407,261$13,795,778$10,954,263$27,961,294
74$32,356,491$14,421,461$11,270,921$30,588,212
75$35,604,959$15,076,218$11,596,602$33,475,669
76$39,183,135$15,761,423$11,931,559$36,649,985
77$43,124,599$16,478,517$12,276,050$40,140,157
78$47,466,353$17,229,010$12,630,343$43,978,130
79$52,249,172$18,014,482$12,994,710$48,199,097
80$57,517,988$18,836,592$13,369,433$52,841,831
81$63,322,314$19,697,076$13,754,801$57,949,048
82$69,716,713$20,597,756$14,151,109$63,567,813
83$76,761,309$21,540,537$14,558,663$69,749,976
84$84,522,359$22,527,420$14,977,774$76,552,667
85$93,072,875$23,560,499$15,408,765$84,038,829
86$102,493,314$24,641,969$15,851,965$92,277,813
87$112,872,339$25,774,133$16,307,713$101,346,030
88$124,307,653$26,959,401$16,776,357$111,327,673
89$136,906,922$28,200,300$17,258,253$122,315,504
90$150,788,794$29,499,480$17,753,770$134,411,737
91$166,084,013$30,859,717$18,263,284$147,728,990
92$182,936,660$32,283,920$18,787,181$162,391,358
93$201,505,507$33,775,140$19,325,859$178,535,573
94$221,965,519$35,336,573$19,879,727$196,312,297
95$244,509,507$36,971,569$20,449,202$215,887,540
96$269,349,941$38,683,641$21,034,714$237,444,229
97$296,720,964$40,476,468$21,636,706$261,183,927
98$326,880,597$42,353,910$22,255,631$287,328,737
99$360,113,177$44,320,011$22,891,954$316,123,396
100$396,732,039$46,379,009$23,546,152$347,837,579