Can I retire at age 54 with 7,400,000?

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 $7,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$611,085$605,642$600,331$595,148$590,086$576,524
2 years$302,517$296,883$291,423$286,129$280,994$267,404
3 years$199,675$194,016$188,570$183,325$178,274$165,083
4 years$148,264$142,623$137,231$132,076$127,146$114,455
5 years$117,425$111,818$106,497$101,447$96,655$84,498
6 years$96,873$91,308$86,065$81,128$76,480$64,870
7 years$82,198$76,680$71,520$66,700$62,198$51,139
8 years$71,197$65,729$60,655$55,953$51,600$41,085
9 years$62,646$57,229$52,242$47,659$43,454$33,477
10 years$55,808$50,444$45,546$41,083$37,025$27,574
11 years$50,218$44,908$40,098$35,754$31,843$22,905
12 years$45,562$40,307$35,586$31,361$27,594$19,156
13 years$41,626$36,426$31,794$27,687$24,063$16,108
14 years$38,255$33,110$28,567$24,578$21,093$13,605
15 years$35,336$30,246$25,792$21,919$18,572$11,534
16 years$32,785$27,751$23,384$19,626$16,414$9,808
17 years$30,536$25,557$21,279$17,634$14,554$8,361
18 years$28,539$23,616$19,425$15,892$12,941$7,143
19 years$26,754$21,887$17,782$14,360$11,534$6,114
20 years$25,150$20,339$16,320$13,005$10,303$5,241
21 years$23,701$18,945$15,011$11,803$9,220$4,498
22 years$22,385$17,684$13,835$10,732$8,264$3,865
23 years$21,185$16,540$12,774$9,774$7,418$3,324
24 years$20,087$15,496$11,814$8,914$6,668$2,861
25 years$19,078$14,543$10,942$8,141$6,000$2,465
26 years$18,149$13,668$10,148$7,444$5,405$2,124
27 years$17,289$12,863$9,423$6,813$4,873$1,832
28 years$16,493$12,121$8,760$6,242$4,397$1,580
29 years$15,753$11,434$8,152$5,724$3,970$1,364
30 years$15,063$10,799$7,594$5,254$3,587$1,177
31 years$14,419$10,208$7,079$4,825$3,243$1,017
32 years$13,817$9,659$6,605$4,434$2,934$878
33 years$13,252$9,147$6,167$4,078$2,655$759
34 years$12,722$8,670$5,762$3,752$2,404$655
35 years$12,223$8,223$5,387$3,454$2,177$566
36 years$11,753$7,805$5,040$3,181$1,973$490
37 years$11,309$7,413$4,717$2,931$1,788$423
38 years$10,890$7,045$4,417$2,701$1,621$366
39 years$10,493$6,699$4,139$2,491$1,470$316
40 years$10,117$6,373$3,879$2,297$1,333$273
41 years$9,760$6,067$3,637$2,120$1,210$236
42 years$9,421$5,778$3,412$1,956$1,098$205
43 years$9,099$5,505$3,202$1,806$996$177
44 years$8,792$5,248$3,005$1,667$904$153
45 years$8,500$5,004$2,822$1,540$821$132
46 years$8,221$4,774$2,650$1,422$745$114
47 years$7,955$4,556$2,490$1,314$677$99
48 years$7,701$4,349$2,340$1,214$615$86
49 years$7,458$4,153$2,199$1,122$558$74
50 years$7,225$3,967$2,068$1,037$507$64

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $7,400,000, adding $6,619 every year, while hoping to spend $50,125 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: 42/29/29 Blend
53$7,400,000$7,400,000$7,400,000$7,400,000
54$8,161,627$7,769,427$7,654,727$8,434,846
55$8,940,781$8,096,797$7,857,828$8,959,947
56$9,797,728$8,438,527$8,066,053$9,523,055
57$10,740,351$8,795,270$8,279,520$10,131,958
58$11,777,334$9,167,705$8,498,351$10,790,920
59$12,918,245$9,556,546$8,722,669$11,504,623
60$14,173,627$9,962,538$8,952,600$12,278,212
61$15,555,097$10,386,462$9,188,272$13,117,338
62$17,075,453$10,829,134$9,429,815$14,028,214
63$18,748,797$11,291,411$9,677,362$15,017,668
64$20,590,670$11,774,185$9,931,050$16,093,203
65$22,618,194$12,278,395$10,191,014$17,263,071
66$24,850,233$12,805,021$10,457,397$18,536,345
67$27,307,578$13,355,087$10,730,341$19,923,001
68$30,013,134$13,929,670$11,009,991$21,434,013
69$32,992,143$14,529,893$11,296,495$23,081,448
70$36,272,418$15,156,934$11,590,003$24,878,585
71$39,884,605$15,812,024$11,890,669$26,840,027
72$43,862,476$16,496,455$12,198,648$28,981,846
73$48,243,244$17,211,576$12,514,098$31,321,722
74$53,067,914$17,958,803$12,837,179$33,879,114
75$58,381,672$18,739,615$13,168,055$36,675,436
76$64,234,309$19,555,562$13,506,892$39,734,253
77$70,680,693$20,408,270$13,853,857$43,081,505
78$77,781,284$21,299,436$14,209,122$46,745,745
79$85,602,708$22,230,840$14,572,860$50,758,402
80$94,218,380$23,204,348$14,945,247$55,154,076
81$103,709,203$24,221,909$15,326,461$59,970,860
82$114,164,327$25,285,568$15,716,683$65,250,692
83$125,681,993$26,397,465$16,116,096$71,039,747
84$138,370,456$27,559,841$16,524,886$77,388,870
85$152,349,014$28,775,044$16,943,240$84,354,046
86$167,749,125$30,045,533$17,371,350$91,996,924
87$184,715,653$31,373,881$17,809,408$100,385,394
88$203,408,234$32,762,787$18,257,608$109,594,223
89$224,002,784$34,215,073$18,716,148$119,705,748
90$246,693,156$35,733,699$19,185,227$130,810,652
91$271,692,972$37,321,764$19,665,045$143,008,813
92$299,237,637$38,982,513$20,155,807$156,410,234
93$329,586,566$40,719,346$20,657,716$171,136,077
94$363,025,627$42,535,825$21,170,981$187,319,800
95$399,869,840$44,435,680$21,695,808$205,108,405
96$440,466,355$46,422,819$22,232,408$224,663,819
97$485,197,722$48,501,336$22,780,993$246,164,410
98$534,485,509$50,675,521$23,341,776$269,806,665
99$588,794,274$52,949,865$23,914,969$295,807,033
100$648,635,958$55,329,077$24,500,789$324,403,956