Can I retire at age 64 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%
1 years$578,053$572,904$567,881$562,978$558,190$542,278
2 years$286,165$280,836$275,670$270,662$265,805$249,898
3 years$188,882$183,529$178,377$173,416$168,637$153,234
4 years$140,249$134,913$129,813$124,936$120,274$105,491
5 years$111,078$105,774$100,740$95,963$91,430$77,309
6 years$91,636$86,372$81,413$76,743$72,346$58,899
7 years$77,755$72,535$67,655$63,094$58,836$46,065
8 years$67,349$62,176$57,376$52,928$48,810$36,707
9 years$59,259$54,135$49,418$45,083$41,105$29,657
10 years$52,792$47,718$43,084$38,862$35,024$24,216
11 years$47,503$42,480$37,930$33,822$30,122$19,937
12 years$43,099$38,128$33,662$29,666$26,103$16,521
13 years$39,376$34,457$30,075$26,191$22,762$13,762
14 years$36,187$31,320$27,023$23,249$19,953$11,513
15 years$33,426$28,611$24,398$20,734$17,568$9,665
16 years$31,013$26,250$22,120$18,565$15,527$8,136
17 years$28,885$24,176$20,128$16,681$13,767$6,866
18 years$26,996$22,339$18,375$15,033$12,241$5,806
19 years$25,308$20,704$16,821$13,583$10,911$4,917
20 years$23,791$19,239$15,438$12,302$9,746$4,170
21 years$22,420$17,921$14,200$11,165$8,721$3,541
22 years$21,175$16,728$13,087$10,152$7,817$3,010
23 years$20,040$15,645$12,084$9,245$7,017$2,560
24 years$19,001$14,659$11,175$8,432$6,307$2,180
25 years$18,047$13,757$10,351$7,701$5,676$1,856
26 years$17,168$12,929$9,600$7,041$5,112$1,582
27 years$16,355$12,168$8,914$6,445$4,609$1,349
28 years$15,601$11,466$8,287$5,905$4,159$1,150
29 years$14,901$10,816$7,712$5,415$3,756$981
30 years$14,249$10,215$7,183$4,970$3,393$838
31 years$13,640$9,657$6,697$4,564$3,068$715
32 years$13,070$9,137$6,248$4,195$2,775$610
33 years$12,536$8,653$5,834$3,857$2,512$521
34 years$12,034$8,201$5,451$3,549$2,274$445
35 years$11,562$7,779$5,096$3,267$2,060$380
36 years$11,118$7,383$4,767$3,009$1,866$325
37 years$10,698$7,012$4,462$2,772$1,691$277
38 years$10,301$6,664$4,179$2,555$1,533$237
39 years$9,926$6,337$3,915$2,356$1,390$202
40 years$9,570$6,029$3,669$2,173$1,261$173
41 years$9,233$5,739$3,441$2,005$1,144$148
42 years$8,912$5,466$3,228$1,850$1,038$126
43 years$8,607$5,208$3,029$1,708$942$108
44 years$8,317$4,964$2,843$1,577$855$92
45 years$8,041$4,734$2,669$1,457$776$79
46 years$7,777$4,516$2,507$1,345$705$67
47 years$7,525$4,309$2,355$1,243$640$58
48 years$7,285$4,114$2,213$1,149$581$49
49 years$7,055$3,928$2,080$1,062$528$42
50 years$6,834$3,753$1,956$981$480$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $7,000,000, adding $6,212 every year, while hoping to spend $52,774 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: 48/33/19 Blend
63$7,000,000$7,000,000$7,000,000$7,000,000
64$7,720,408$7,349,408$7,240,908$8,049,334
65$8,451,738$7,653,378$7,427,327$8,582,483
66$9,255,896$7,970,473$7,618,223$9,155,230
67$10,140,253$8,301,282$7,813,689$9,776,049
68$11,112,932$8,646,418$8,013,821$10,449,467
69$12,182,883$9,006,525$8,218,716$11,180,460
70$13,359,968$9,382,275$8,428,473$11,974,496
71$14,655,049$9,774,371$8,643,192$12,837,585
72$16,080,098$10,183,550$8,862,973$13,776,334
73$17,648,305$10,610,580$9,087,919$14,798,006
74$19,374,201$11,056,268$9,318,134$15,910,588
75$21,273,801$11,521,457$9,553,723$17,122,864
76$23,364,748$12,007,028$9,794,792$18,444,491
77$25,666,484$12,513,903$10,041,449$19,886,095
78$28,200,431$13,043,050$10,293,803$21,459,363
79$30,990,193$13,595,478$10,551,964$23,177,153
80$34,061,781$14,172,244$10,816,042$25,053,610
81$37,443,854$14,774,455$11,086,151$27,104,300
82$41,167,993$15,403,270$11,362,403$29,346,351
83$45,268,998$16,059,899$11,644,913$31,798,613
84$49,785,214$16,745,612$11,933,796$34,481,832
85$54,758,895$17,461,737$12,229,168$37,418,840
86$60,236,603$18,209,663$12,531,146$40,634,771
87$66,269,645$18,990,845$12,839,847$44,157,291
88$72,914,558$19,806,805$13,155,391$48,016,857
89$80,233,642$20,659,138$13,477,896$52,246,999
90$88,295,549$21,549,512$13,807,481$56,884,631
91$97,175,931$22,479,673$14,144,267$61,970,399
92$106,958,149$23,451,451$14,488,374$67,549,056
93$117,734,068$24,466,759$14,839,922$73,669,879
94$129,604,915$25,527,603$15,199,032$80,387,133
95$142,682,241$26,636,080$15,565,824$87,760,572
96$157,088,969$27,794,388$15,940,418$95,856,004
97$172,960,558$29,004,826$16,322,936$104,745,901
98$190,446,276$30,269,804$16,713,496$114,510,078
99$209,710,616$31,591,844$17,112,218$125,236,440
100$230,934,841$32,973,587$17,519,219$137,021,808