Can I retire at age 57 with 7,400,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%15.5%
1 years$611,085$605,642$600,331$595,148$590,086$576,758
2 years$302,517$296,883$291,423$286,129$280,994$267,637
3 years$199,675$194,016$188,570$183,325$178,274$165,306
4 years$148,264$142,623$137,231$132,076$127,146$114,668
5 years$117,425$111,818$106,497$101,447$96,655$84,700
6 years$96,873$91,308$86,065$81,128$76,480$65,061
7 years$82,198$76,680$71,520$66,700$62,198$51,318
8 years$71,197$65,729$60,655$55,953$51,600$41,253
9 years$62,646$57,229$52,242$47,659$43,454$33,634
10 years$55,808$50,444$45,546$41,083$37,025$27,721
11 years$50,218$44,908$40,098$35,754$31,843$23,042
12 years$45,562$40,307$35,586$31,361$27,594$19,283
13 years$41,626$36,426$31,794$27,687$24,063$16,225
14 years$38,255$33,110$28,567$24,578$21,093$13,714
15 years$35,336$30,246$25,792$21,919$18,572$11,634
16 years$32,785$27,751$23,384$19,626$16,414$9,900
17 years$30,536$25,557$21,279$17,634$14,554$8,446
18 years$28,539$23,616$19,425$15,892$12,941$7,221
19 years$26,754$21,887$17,782$14,360$11,534$6,185
20 years$25,150$20,339$16,320$13,005$10,303$5,305
21 years$23,701$18,945$15,011$11,803$9,220$4,557
22 years$22,385$17,684$13,835$10,732$8,264$3,919
23 years$21,185$16,540$12,774$9,774$7,418$3,373
24 years$20,087$15,496$11,814$8,914$6,668$2,906
25 years$19,078$14,543$10,942$8,141$6,000$2,505
26 years$18,149$13,668$10,148$7,444$5,405$2,161
27 years$17,289$12,863$9,423$6,813$4,873$1,865
28 years$16,493$12,121$8,760$6,242$4,397$1,610
29 years$15,753$11,434$8,152$5,724$3,970$1,390
30 years$15,063$10,799$7,594$5,254$3,587$1,201
31 years$14,419$10,208$7,079$4,825$3,243$1,038
32 years$13,817$9,659$6,605$4,434$2,934$898
33 years$13,252$9,147$6,167$4,078$2,655$776
34 years$12,722$8,670$5,762$3,752$2,404$671
35 years$12,223$8,223$5,387$3,454$2,177$580
36 years$11,753$7,805$5,040$3,181$1,973$502
37 years$11,309$7,413$4,717$2,931$1,788$434
38 years$10,890$7,045$4,417$2,701$1,621$376
39 years$10,493$6,699$4,139$2,491$1,470$325
40 years$10,117$6,373$3,879$2,297$1,333$281
41 years$9,760$6,067$3,637$2,120$1,210$244
42 years$9,421$5,778$3,412$1,956$1,098$211
43 years$9,099$5,505$3,202$1,806$996$182
44 years$8,792$5,248$3,005$1,667$904$158
45 years$8,500$5,004$2,822$1,540$821$137
46 years$8,221$4,774$2,650$1,422$745$118
47 years$7,955$4,556$2,490$1,314$677$102
48 years$7,701$4,349$2,340$1,214$615$89
49 years$7,458$4,153$2,199$1,122$558$77
50 years$7,225$3,967$2,068$1,037$507$66

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 $2,708 every year, while hoping to spend $32,676 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: 67/8/25 Blend
56$7,400,000$7,400,000$7,400,000$7,400,000
57$8,157,593$7,765,393$7,650,693$8,651,272
58$8,954,901$8,111,131$7,872,225$9,329,237
59$9,832,439$8,472,714$8,100,082$10,066,463
60$10,798,355$8,850,885$8,334,443$10,872,018
61$11,861,631$9,246,421$8,575,490$11,752,645
62$13,032,158$9,660,137$8,823,409$12,715,764
63$14,320,839$10,092,885$9,078,395$13,769,547
64$15,739,687$10,545,558$9,340,643$14,922,989
65$17,301,938$11,019,094$9,610,358$16,185,995
66$19,022,178$11,514,472$9,887,748$17,569,469
67$20,916,480$12,032,720$10,173,026$19,085,421
68$23,002,552$12,574,914$10,466,413$20,747,073
69$25,299,910$13,142,183$10,768,136$22,568,988
70$27,830,058$13,735,707$11,078,426$24,567,201
71$30,616,692$14,356,725$11,397,522$26,759,375
72$33,685,924$15,006,534$11,725,668$29,164,961
73$37,066,527$15,686,493$12,063,117$31,805,382
74$40,790,208$16,398,026$12,410,126$34,704,235
75$44,891,905$17,142,625$12,766,961$37,887,511
76$49,410,120$17,921,855$13,133,895$41,383,839
77$54,387,279$18,737,352$13,511,207$45,224,754
78$59,870,134$19,590,835$13,899,185$49,444,992
79$65,910,203$20,484,102$14,298,124$54,082,820
80$72,564,259$21,419,038$14,708,326$59,180,391
81$79,894,863$22,397,620$15,130,104$64,784,143
82$87,970,953$23,421,917$15,563,776$70,945,233
83$96,868,498$24,494,100$16,009,671$77,720,018
84$106,671,215$25,616,441$16,468,126$85,170,588
85$117,471,357$26,791,324$16,939,486$93,365,346
86$129,370,583$28,021,247$17,424,106$102,379,653
87$142,480,920$29,308,826$17,922,351$112,296,538
88$156,925,819$30,656,804$18,434,595$123,207,475
89$172,841,322$32,068,056$18,961,223$135,213,251
90$190,377,341$33,545,595$19,502,628$148,424,907
91$209,699,079$35,092,579$20,059,216$162,964,789
92$230,988,588$36,712,317$20,631,402$178,967,697
93$254,446,482$38,408,279$21,219,612$196,582,156
94$280,293,839$40,184,101$21,824,285$215,971,815
95$308,774,282$42,043,593$22,445,870$237,316,985
96$340,156,279$43,990,749$23,084,827$260,816,343
97$374,735,682$46,029,758$23,741,631$286,688,802
98$412,838,512$48,165,007$24,416,767$315,175,570
99$454,824,045$50,401,097$25,110,733$346,542,430
100$501,088,196$52,742,850$25,824,041$381,082,239