Can I retire at age 66 with 7,200,000?

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 $7,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$594,569$589,273$584,106$579,063$574,138$553,547
2 years$294,341$288,859$283,547$278,396$273,399$252,877
3 years$194,278$188,773$183,473$178,371$173,456$153,647
4 years$144,257$138,768$133,522$128,506$123,710$104,766
5 years$114,251$108,796$103,618$98,705$94,042$76,013
6 years$94,255$88,840$83,739$78,935$74,413$57,311
7 years$79,977$74,608$69,587$64,897$60,517$44,340
8 years$69,273$63,953$59,016$54,440$50,205$34,938
9 years$60,953$55,682$50,830$46,371$42,280$27,903
10 years$54,300$49,081$44,315$39,972$36,025$22,513
11 years$48,860$43,694$39,014$34,788$30,982$18,309
12 years$44,331$39,217$34,624$30,514$26,849$14,982
13 years$40,501$35,441$30,934$26,939$23,413$12,320
14 years$37,221$32,215$27,795$23,913$20,523$10,171
15 years$34,381$29,429$25,095$21,327$18,070$8,424
16 years$31,899$27,000$22,752$19,096$15,971$6,995
17 years$29,711$24,866$20,704$17,157$14,161$5,822
18 years$27,768$22,978$18,900$15,462$12,591$4,853
19 years$26,031$21,296$17,302$13,971$11,223$4,052
20 years$24,471$19,789$15,879$12,654$10,024$3,387
21 years$23,060$18,433$14,605$11,484$8,971$2,834
22 years$21,780$17,206$13,461$10,442$8,041$2,373
23 years$20,613$16,092$12,429$9,509$7,218$1,989
24 years$19,544$15,078$11,495$8,673$6,488$1,668
25 years$18,563$14,150$10,646$7,921$5,838$1,399
26 years$17,658$13,298$9,874$7,242$5,259$1,174
27 years$16,822$12,515$9,169$6,629$4,741$986
28 years$16,047$11,793$8,524$6,074$4,278$828
29 years$15,327$11,125$7,932$5,570$3,863$695
30 years$14,656$10,507$7,388$5,112$3,490$584
31 years$14,030$9,932$6,888$4,695$3,156$491
32 years$13,444$9,398$6,427$4,314$2,854$413
33 years$12,894$8,900$6,000$3,968$2,583$347
34 years$12,378$8,435$5,606$3,650$2,339$292
35 years$11,893$8,001$5,242$3,360$2,118$245
36 years$11,435$7,594$4,903$3,095$1,919$206
37 years$11,004$7,212$4,590$2,852$1,740$173
38 years$10,596$6,854$4,298$2,628$1,577$146
39 years$10,209$6,518$4,027$2,423$1,430$122
40 years$9,844$6,201$3,774$2,235$1,297$103
41 years$9,496$5,903$3,539$2,062$1,177$87
42 years$9,167$5,622$3,320$1,903$1,068$73
43 years$8,853$5,356$3,115$1,757$969$61
44 years$8,555$5,106$2,924$1,622$880$52
45 years$8,270$4,869$2,746$1,498$799$43
46 years$7,999$4,645$2,579$1,384$725$36
47 years$7,740$4,432$2,423$1,279$658$31
48 years$7,493$4,231$2,277$1,181$598$26
49 years$7,256$4,041$2,140$1,092$543$22
50 years$7,030$3,860$2,012$1,009$493$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $7,200,000, adding $4,016 every year, while hoping to spend $43,768 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: 40/38/22 Blend
65$7,200,000$7,200,000$7,200,000$7,200,000
66$7,938,543$7,556,943$7,445,343$8,204,229
67$8,701,705$7,880,664$7,648,193$8,719,182
68$9,541,243$8,218,781$7,856,371$9,271,462
69$10,464,901$8,571,952$8,070,011$9,868,068
70$11,481,211$8,940,868$8,289,247$10,513,066
71$12,599,575$9,326,251$8,514,217$11,210,922
72$13,830,352$9,728,857$8,745,063$11,966,533
73$15,184,954$10,149,478$8,981,929$12,785,280
74$16,675,960$10,588,942$9,224,964$13,673,072
75$18,317,225$11,048,117$9,474,317$14,636,395
76$20,124,019$11,527,912$9,730,144$15,682,379
77$22,113,167$12,029,278$9,992,602$16,818,854
78$24,303,207$12,553,210$10,261,852$18,054,427
79$26,714,569$13,100,752$10,538,058$19,398,555
80$29,369,761$13,672,995$10,821,389$20,861,634
81$32,293,587$14,271,082$11,112,016$22,455,093
82$35,513,379$14,896,212$11,410,115$24,191,496
83$39,059,254$15,549,636$11,715,864$26,084,660
84$42,964,399$16,232,669$12,029,446$28,149,779
85$47,265,384$16,946,686$12,351,048$30,403,562
86$52,002,505$17,693,125$12,680,861$32,864,392
87$57,220,168$18,473,496$13,019,077$35,552,486
88$62,967,305$19,289,377$13,365,896$38,490,089
89$69,297,836$20,142,423$13,721,520$41,701,674
90$76,271,180$21,034,366$14,086,155$45,214,171
91$83,952,811$21,967,020$14,460,012$49,057,213
92$92,414,880$22,942,287$14,843,305$53,263,409
93$101,736,895$23,962,156$15,236,253$57,868,651
94$112,006,470$25,028,714$15,639,079$62,912,441
95$123,320,153$26,144,144$16,052,011$68,438,260
96$135,784,335$27,310,734$16,475,280$74,493,970
97$149,516,259$28,530,881$16,909,123$81,132,260
98$164,645,119$29,807,096$17,353,781$88,411,137
99$181,313,286$31,142,008$17,809,497$96,394,460
100$199,677,649$32,538,374$18,276,523$105,152,543