Can I retire at age 68 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%17.5%
1 years$578,053$572,904$567,881$562,978$558,190$541,189
2 years$286,165$280,836$275,670$270,662$265,805$248,822
3 years$188,882$183,529$178,377$173,416$168,637$152,206
4 years$140,249$134,913$129,813$124,936$120,274$104,520
5 years$111,078$105,774$100,740$95,963$91,430$76,396
6 years$91,636$86,372$81,413$76,743$72,346$58,045
7 years$77,755$72,535$67,655$63,094$58,836$45,268
8 years$67,349$62,176$57,376$52,928$48,810$35,965
9 years$59,259$54,135$49,418$45,083$41,105$28,970
10 years$52,792$47,718$43,084$38,862$35,024$23,581
11 years$47,503$42,480$37,930$33,822$30,122$19,352
12 years$43,099$38,128$33,662$29,666$26,103$15,983
13 years$39,376$34,457$30,075$26,191$22,762$13,269
14 years$36,187$31,320$27,023$23,249$19,953$11,062
15 years$33,426$28,611$24,398$20,734$17,568$9,253
16 years$31,013$26,250$22,120$18,565$15,527$7,762
17 years$28,885$24,176$20,128$16,681$13,767$6,527
18 years$26,996$22,339$18,375$15,033$12,241$5,498
19 years$25,308$20,704$16,821$13,583$10,911$4,639
20 years$23,791$19,239$15,438$12,302$9,746$3,920
21 years$22,420$17,921$14,200$11,165$8,721$3,315
22 years$21,175$16,728$13,087$10,152$7,817$2,807
23 years$20,040$15,645$12,084$9,245$7,017$2,378
24 years$19,001$14,659$11,175$8,432$6,307$2,017
25 years$18,047$13,757$10,351$7,701$5,676$1,711
26 years$17,168$12,929$9,600$7,041$5,112$1,452
27 years$16,355$12,168$8,914$6,445$4,609$1,233
28 years$15,601$11,466$8,287$5,905$4,159$1,047
29 years$14,901$10,816$7,712$5,415$3,756$890
30 years$14,249$10,215$7,183$4,970$3,393$756
31 years$13,640$9,657$6,697$4,564$3,068$643
32 years$13,070$9,137$6,248$4,195$2,775$547
33 years$12,536$8,653$5,834$3,857$2,512$465
34 years$12,034$8,201$5,451$3,549$2,274$395
35 years$11,562$7,779$5,096$3,267$2,060$336
36 years$11,118$7,383$4,767$3,009$1,866$286
37 years$10,698$7,012$4,462$2,772$1,691$243
38 years$10,301$6,664$4,179$2,555$1,533$207
39 years$9,926$6,337$3,915$2,356$1,390$176
40 years$9,570$6,029$3,669$2,173$1,261$150
41 years$9,233$5,739$3,441$2,005$1,144$127
42 years$8,912$5,466$3,228$1,850$1,038$108
43 years$8,607$5,208$3,029$1,708$942$92
44 years$8,317$4,964$2,843$1,577$855$79
45 years$8,041$4,734$2,669$1,457$776$67
46 years$7,777$4,516$2,507$1,345$705$57
47 years$7,525$4,309$2,355$1,243$640$48
48 years$7,285$4,114$2,213$1,149$581$41
49 years$7,055$3,928$2,080$1,062$528$35
50 years$6,834$3,753$1,956$981$480$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $7,000,000, adding $5,936 every year, while hoping to spend $32,695 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: 71/12/17 Blend
67$7,000,000$7,000,000$7,000,000$7,000,000
68$7,720,123$7,349,123$7,240,623$8,237,113
69$8,472,788$7,674,443$7,448,397$8,906,906
70$9,301,130$8,014,607$7,662,035$9,635,464
71$10,212,832$8,370,310$7,881,700$10,432,262
72$11,216,361$8,742,276$8,107,557$11,304,047
73$12,321,048$9,131,265$8,339,779$12,258,243
74$13,537,173$9,538,075$8,578,539$13,303,026
75$14,876,062$9,963,539$8,824,018$14,447,394
76$16,350,198$10,408,530$9,076,400$15,701,257
77$17,973,335$10,873,965$9,335,876$17,075,523
78$19,760,628$11,360,801$9,602,640$18,582,207
79$21,728,775$11,870,044$9,876,892$20,234,534
80$23,896,180$12,402,745$10,158,838$22,047,073
81$26,283,118$12,960,008$10,448,687$24,035,864
82$28,911,934$13,542,986$10,746,656$26,218,573
83$31,807,249$14,152,891$11,052,967$28,614,656
84$34,996,195$14,790,989$11,367,848$31,245,540
85$38,508,669$15,458,609$11,691,533$34,134,826
86$42,377,615$16,157,143$12,024,261$37,308,508
87$46,639,337$16,888,048$12,366,279$40,795,217
88$51,333,840$17,652,853$12,717,839$44,626,492
89$56,505,206$18,453,157$13,079,202$48,837,071
90$62,202,015$19,290,639$13,450,632$53,465,219
91$68,477,796$20,167,056$13,832,404$58,553,091
92$75,391,538$21,084,249$14,224,797$64,147,121
93$83,008,247$22,044,149$14,628,099$70,298,464
94$91,399,552$23,048,777$15,042,605$77,063,473
95$100,644,392$24,100,252$15,468,617$84,504,228
96$110,829,751$25,200,795$15,906,447$92,689,124
97$122,051,485$26,352,734$16,356,412$101,693,508
98$134,415,224$27,558,505$16,818,840$111,600,393
99$148,037,371$28,820,667$17,294,065$122,501,235
100$163,046,199$30,141,895$17,782,432$134,496,795