Can I retire at age 60 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%14.5%
1 years$578,053$572,904$567,881$562,978$558,190$547,816
2 years$286,165$280,836$275,670$270,662$265,805$255,392
3 years$188,882$183,529$178,377$173,416$168,637$158,510
4 years$140,249$134,913$129,813$124,936$120,274$110,510
5 years$111,078$105,774$100,740$95,963$91,430$82,058
6 years$91,636$86,372$81,413$76,743$72,346$63,376
7 years$77,755$72,535$67,655$63,094$58,836$50,271
8 years$67,349$62,176$57,376$52,928$48,810$40,647
9 years$59,259$54,135$49,418$45,083$41,105$33,339
10 years$52,792$47,718$43,084$38,862$35,024$27,648
11 years$47,503$42,480$37,930$33,822$30,122$23,127
12 years$43,099$38,128$33,662$29,666$26,103$19,480
13 years$39,376$34,457$30,075$26,191$22,762$16,501
14 years$36,187$31,320$27,023$23,249$19,953$14,042
15 years$33,426$28,611$24,398$20,734$17,568$11,995
16 years$31,013$26,250$22,120$18,565$15,527$10,279
17 years$28,885$24,176$20,128$16,681$13,767$8,833
18 years$26,996$22,339$18,375$15,033$12,241$7,607
19 years$25,308$20,704$16,821$13,583$10,911$6,564
20 years$23,791$19,239$15,438$12,302$9,746$5,674
21 years$22,420$17,921$14,200$11,165$8,721$4,911
22 years$21,175$16,728$13,087$10,152$7,817$4,255
23 years$20,040$15,645$12,084$9,245$7,017$3,692
24 years$19,001$14,659$11,175$8,432$6,307$3,205
25 years$18,047$13,757$10,351$7,701$5,676$2,785
26 years$17,168$12,929$9,600$7,041$5,112$2,422
27 years$16,355$12,168$8,914$6,445$4,609$2,107
28 years$15,601$11,466$8,287$5,905$4,159$1,834
29 years$14,901$10,816$7,712$5,415$3,756$1,597
30 years$14,249$10,215$7,183$4,970$3,393$1,391
31 years$13,640$9,657$6,697$4,564$3,068$1,212
32 years$13,070$9,137$6,248$4,195$2,775$1,057
33 years$12,536$8,653$5,834$3,857$2,512$921
34 years$12,034$8,201$5,451$3,549$2,274$804
35 years$11,562$7,779$5,096$3,267$2,060$701
36 years$11,118$7,383$4,767$3,009$1,866$611
37 years$10,698$7,012$4,462$2,772$1,691$533
38 years$10,301$6,664$4,179$2,555$1,533$466
39 years$9,926$6,337$3,915$2,356$1,390$406
40 years$9,570$6,029$3,669$2,173$1,261$355
41 years$9,233$5,739$3,441$2,005$1,144$310
42 years$8,912$5,466$3,228$1,850$1,038$270
43 years$8,607$5,208$3,029$1,708$942$236
44 years$8,317$4,964$2,843$1,577$855$206
45 years$8,041$4,734$2,669$1,457$776$180
46 years$7,777$4,516$2,507$1,345$705$157
47 years$7,525$4,309$2,355$1,243$640$137
48 years$7,285$4,114$2,213$1,149$581$120
49 years$7,055$3,928$2,080$1,062$528$104
50 years$6,834$3,753$1,956$981$480$91

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $7,000,000, adding $5,565 every year, while hoping to spend $25,848 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: 45/45/10 Blend
59$7,000,000$7,000,000$7,000,000$7,000,000
60$7,719,740$7,348,740$7,240,240$8,045,062
61$8,479,652$7,681,327$7,455,286$8,603,494
62$9,316,208$8,029,343$7,676,670$9,205,565
63$10,237,199$8,393,519$7,904,576$9,857,812
64$11,251,210$8,774,618$8,139,196$10,564,871
65$12,367,698$9,173,439$8,380,725$11,331,831
66$13,597,088$9,590,823$8,629,364$12,164,278
67$14,950,865$10,027,646$8,885,320$13,068,344
68$16,441,682$10,484,830$9,148,808$14,050,760
69$18,083,487$10,963,340$9,420,046$15,118,921
70$19,891,646$11,464,187$9,699,261$16,280,947
71$21,883,091$11,988,430$9,986,684$17,545,761
72$24,076,483$12,537,179$10,282,554$18,923,163
73$26,492,382$13,111,599$10,587,118$20,423,926
74$29,153,446$13,712,908$10,900,627$22,059,887
75$32,084,642$14,342,385$11,223,342$23,844,056
76$35,313,483$15,001,369$11,555,532$25,790,739
77$38,870,285$15,691,264$11,897,469$27,915,660
78$42,788,459$16,413,540$12,249,439$30,236,110
79$47,104,819$17,169,741$12,611,732$32,771,105
80$51,859,934$17,961,481$12,984,648$35,541,556
81$57,098,508$18,790,455$13,368,495$38,570,464
82$62,869,806$19,658,437$13,763,590$41,883,130
83$69,228,115$20,567,289$14,170,259$45,507,387
84$76,233,258$21,518,961$14,588,838$49,473,856
85$83,951,157$22,515,497$15,019,671$53,816,230
86$92,454,458$23,559,040$15,463,113$58,571,581
87$101,823,215$24,651,835$15,919,530$63,780,707
88$112,145,645$25,796,237$16,389,296$69,488,503
89$123,518,961$26,994,713$16,872,797$75,744,384
90$136,050,291$28,249,850$17,370,432$82,602,735
91$149,857,687$29,564,359$17,882,608$90,123,422
92$165,071,241$30,941,082$18,409,745$98,372,342
93$181,834,311$32,382,999$18,952,275$107,422,038
94$200,304,878$33,893,233$19,510,643$117,352,371
95$220,657,031$35,475,057$20,085,306$128,251,268
96$243,082,618$37,131,904$20,676,733$140,215,532
97$267,793,049$38,867,372$21,285,408$153,351,752
98$295,021,298$40,685,231$21,911,827$167,777,290
99$325,024,100$42,589,437$22,556,502$183,621,381
100$358,084,372$44,584,133$23,219,959$201,026,336