Can I retire at age 66 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%12.1%
1 years$578,053$572,904$567,881$562,978$558,190$553,282
2 years$286,165$280,836$275,670$270,662$265,805$260,859
3 years$188,882$183,529$178,377$173,416$168,637$163,807
4 years$140,249$134,913$129,813$124,936$120,274$115,596
5 years$111,078$105,774$100,740$95,963$91,430$86,919
6 years$91,636$86,372$81,413$76,743$72,346$68,007
7 years$77,755$72,535$67,655$63,094$58,836$54,671
8 years$67,349$62,176$57,376$52,928$48,810$44,820
9 years$59,259$54,135$49,418$45,083$41,105$37,287
10 years$52,792$47,718$43,084$38,862$35,024$31,376
11 years$47,503$42,480$37,930$33,822$30,122$26,642
12 years$43,099$38,128$33,662$29,666$26,103$22,787
13 years$39,376$34,457$30,075$26,191$22,762$19,607
14 years$36,187$31,320$27,023$23,249$19,953$16,955
15 years$33,426$28,611$24,398$20,734$17,568$14,722
16 years$31,013$26,250$22,120$18,565$15,527$12,829
17 years$28,885$24,176$20,128$16,681$13,767$11,212
18 years$26,996$22,339$18,375$15,033$12,241$9,824
19 years$25,308$20,704$16,821$13,583$10,911$8,627
20 years$23,791$19,239$15,438$12,302$9,746$7,590
21 years$22,420$17,921$14,200$11,165$8,721$6,689
22 years$21,175$16,728$13,087$10,152$7,817$5,904
23 years$20,040$15,645$12,084$9,245$7,017$5,217
24 years$19,001$14,659$11,175$8,432$6,307$4,615
25 years$18,047$13,757$10,351$7,701$5,676$4,086
26 years$17,168$12,929$9,600$7,041$5,112$3,621
27 years$16,355$12,168$8,914$6,445$4,609$3,212
28 years$15,601$11,466$8,287$5,905$4,159$2,850
29 years$14,901$10,816$7,712$5,415$3,756$2,531
30 years$14,249$10,215$7,183$4,970$3,393$2,249
31 years$13,640$9,657$6,697$4,564$3,068$1,999
32 years$13,070$9,137$6,248$4,195$2,775$1,777
33 years$12,536$8,653$5,834$3,857$2,512$1,581
34 years$12,034$8,201$5,451$3,549$2,274$1,407
35 years$11,562$7,779$5,096$3,267$2,060$1,252
36 years$11,118$7,383$4,767$3,009$1,866$1,115
37 years$10,698$7,012$4,462$2,772$1,691$992
38 years$10,301$6,664$4,179$2,555$1,533$884
39 years$9,926$6,337$3,915$2,356$1,390$787
40 years$9,570$6,029$3,669$2,173$1,261$702
41 years$9,233$5,739$3,441$2,005$1,144$625
42 years$8,912$5,466$3,228$1,850$1,038$557
43 years$8,607$5,208$3,029$1,708$942$496
44 years$8,317$4,964$2,843$1,577$855$443
45 years$8,041$4,734$2,669$1,457$776$394
46 years$7,777$4,516$2,507$1,345$705$352
47 years$7,525$4,309$2,355$1,243$640$314
48 years$7,285$4,114$2,213$1,149$581$280
49 years$7,055$3,928$2,080$1,062$528$249
50 years$6,834$3,753$1,956$981$480$222

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $7,000,000, adding $4,480 every year, while hoping to spend $24,176 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: 69/22/9 Blend
65$7,000,000$7,000,000$7,000,000$7,000,000
66$7,718,621$7,347,621$7,239,121$8,237,727
67$8,480,197$7,681,931$7,455,909$8,916,685
68$9,318,644$8,031,813$7,679,148$9,655,802
69$10,241,777$8,398,002$7,909,030$10,463,695
70$11,258,207$8,781,273$8,145,752$11,347,111
71$12,377,423$9,182,435$8,389,514$12,313,469
72$13,609,882$9,602,337$8,640,525$13,370,937
73$14,967,106$10,041,867$8,898,998$14,528,499
74$16,461,791$10,501,958$9,165,155$15,796,046
75$18,107,927$10,983,588$9,439,220$17,184,462
76$19,920,930$11,487,778$9,721,429$18,705,728
77$21,917,789$12,015,603$10,012,021$20,373,030
78$24,117,222$12,568,186$10,311,242$22,200,885
79$26,539,858$13,146,706$10,619,348$24,205,274
80$29,208,427$13,752,398$10,936,599$26,403,790
81$32,147,977$14,386,556$11,263,266$28,815,803
82$35,386,110$15,050,537$11,599,625$31,462,640
83$38,953,243$15,745,763$11,945,962$34,367,784
84$42,882,893$16,473,724$12,302,571$37,557,092
85$47,211,994$17,235,983$12,669,753$41,059,037
86$51,981,247$18,034,176$13,047,819$44,904,974
87$57,235,503$18,870,020$13,437,090$49,129,432
88$63,024,187$19,745,313$13,837,895$53,770,440
89$69,401,763$20,661,942$14,250,573$58,869,876
90$76,428,248$21,621,883$14,675,473$64,473,867
91$84,169,781$22,627,207$15,112,953$70,633,214
92$92,699,244$23,680,086$15,563,383$77,403,871
93$102,096,954$24,782,797$16,027,143$84,847,470
94$112,451,415$25,937,725$16,504,624$93,031,895
95$123,860,159$27,147,374$16,996,229$102,031,923
96$136,430,665$28,414,364$17,502,371$111,929,921
97$150,281,370$29,741,445$18,023,478$122,816,622
98$165,542,792$31,131,499$18,559,987$134,791,976
99$182,358,760$32,587,545$19,112,350$147,966,084
100$200,887,771$34,112,752$19,681,031$162,460,241