Can I retire at age 57 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%15.8%
1 years$611,085$605,642$600,331$595,148$590,086$576,055
2 years$302,517$296,883$291,423$286,129$280,994$266,939
3 years$199,675$194,016$188,570$183,325$178,274$164,636
4 years$148,264$142,623$137,231$132,076$127,146$114,030
5 years$117,425$111,818$106,497$101,447$96,655$84,096
6 years$96,873$91,308$86,065$81,128$76,480$64,491
7 years$82,198$76,680$71,520$66,700$62,198$50,782
8 years$71,197$65,729$60,655$55,953$51,600$40,751
9 years$62,646$57,229$52,242$47,659$43,454$33,165
10 years$55,808$50,444$45,546$41,083$37,025$27,283
11 years$50,218$44,908$40,098$35,754$31,843$22,635
12 years$45,562$40,307$35,586$31,361$27,594$18,905
13 years$41,626$36,426$31,794$27,687$24,063$15,876
14 years$38,255$33,110$28,567$24,578$21,093$13,391
15 years$35,336$30,246$25,792$21,919$18,572$11,336
16 years$32,785$27,751$23,384$19,626$16,414$9,626
17 years$30,536$25,557$21,279$17,634$14,554$8,194
18 years$28,539$23,616$19,425$15,892$12,941$6,990
19 years$26,754$21,887$17,782$14,360$11,534$5,974
20 years$25,150$20,339$16,320$13,005$10,303$5,113
21 years$23,701$18,945$15,011$11,803$9,220$4,382
22 years$22,385$17,684$13,835$10,732$8,264$3,759
23 years$21,185$16,540$12,774$9,774$7,418$3,228
24 years$20,087$15,496$11,814$8,914$6,668$2,774
25 years$19,078$14,543$10,942$8,141$6,000$2,386
26 years$18,149$13,668$10,148$7,444$5,405$2,053
27 years$17,289$12,863$9,423$6,813$4,873$1,767
28 years$16,493$12,121$8,760$6,242$4,397$1,522
29 years$15,753$11,434$8,152$5,724$3,970$1,312
30 years$15,063$10,799$7,594$5,254$3,587$1,130
31 years$14,419$10,208$7,079$4,825$3,243$974
32 years$13,817$9,659$6,605$4,434$2,934$840
33 years$13,252$9,147$6,167$4,078$2,655$725
34 years$12,722$8,670$5,762$3,752$2,404$625
35 years$12,223$8,223$5,387$3,454$2,177$539
36 years$11,753$7,805$5,040$3,181$1,973$465
37 years$11,309$7,413$4,717$2,931$1,788$402
38 years$10,890$7,045$4,417$2,701$1,621$347
39 years$10,493$6,699$4,139$2,491$1,470$299
40 years$10,117$6,373$3,879$2,297$1,333$258
41 years$9,760$6,067$3,637$2,120$1,210$223
42 years$9,421$5,778$3,412$1,956$1,098$192
43 years$9,099$5,505$3,202$1,806$996$166
44 years$8,792$5,248$3,005$1,667$904$143
45 years$8,500$5,004$2,822$1,540$821$124
46 years$8,221$4,774$2,650$1,422$745$107
47 years$7,955$4,556$2,490$1,314$677$92
48 years$7,701$4,349$2,340$1,214$615$80
49 years$7,458$4,153$2,199$1,122$558$69
50 years$7,225$3,967$2,068$1,037$507$59

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $7,400,000, adding $6,620 every year, while hoping to spend $36,549 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: 38/40/22 Blend
56$7,400,000$7,400,000$7,400,000$7,400,000
57$8,161,629$7,769,429$7,654,729$8,417,823
58$8,955,227$8,111,243$7,872,274$8,946,043
59$9,828,547$8,468,581$8,095,882$9,512,616
60$10,789,683$8,842,165$8,325,718$10,124,198
61$11,847,550$9,232,751$8,561,950$10,784,879
62$13,011,976$9,641,132$8,804,751$11,499,144
63$14,293,787$10,068,136$9,054,299$12,271,917
64$15,704,912$10,514,634$9,310,777$13,108,600
65$17,258,496$10,981,534$9,574,371$14,015,120
66$18,969,024$11,469,790$9,845,274$14,997,988
67$20,852,456$11,980,401$10,123,682$16,064,351
68$22,926,378$12,514,413$10,409,797$17,222,059
69$25,210,170$13,072,921$10,703,827$18,479,733
70$27,725,186$13,657,072$11,005,983$19,846,845
71$30,494,956$14,268,070$11,316,485$21,333,805
72$33,545,410$14,907,173$11,635,555$22,952,048
73$36,905,118$15,575,702$11,963,423$24,714,145
74$40,605,567$16,275,037$12,300,324$26,633,916
75$44,681,449$17,006,629$12,646,500$28,726,550
76$49,170,996$17,771,992$13,002,196$31,008,751
77$54,116,335$18,572,718$13,367,668$33,498,884
78$59,563,892$19,410,471$13,743,175$36,217,148
79$65,564,821$20,286,996$14,128,983$39,185,758
80$72,175,495$21,204,122$14,525,367$42,429,150
81$79,458,035$22,163,763$14,932,606$45,974,205
82$87,480,893$23,167,927$15,350,987$49,850,496
83$96,319,505$24,218,716$15,780,806$54,090,561
84$106,056,996$25,318,334$16,222,364$58,730,204
85$116,784,966$26,469,089$16,675,970$63,808,823
86$128,604,360$27,673,402$17,141,943$69,369,776
87$141,626,413$28,933,807$17,620,606$75,460,782
88$155,973,704$30,252,960$18,112,293$82,134,363
89$171,781,312$31,633,646$18,617,345$89,448,331
90$189,198,093$33,078,781$19,136,113$97,466,324
91$208,388,081$34,591,424$19,668,955$106,258,398
92$229,532,039$36,174,777$20,216,239$115,901,676
93$252,829,164$37,832,198$20,778,340$126,481,070
94$278,498,968$39,567,206$21,355,644$138,090,067
95$306,783,352$41,383,488$21,948,547$150,831,602
96$337,948,884$43,284,909$22,557,453$164,819,017
97$372,289,319$45,275,518$23,182,777$180,177,119
98$410,128,373$47,359,562$23,824,943$197,043,345
99$451,822,774$49,541,488$24,484,387$215,569,045
100$497,765,636$51,825,960$25,161,552$235,920,896