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%18.9%
1 years$611,085$605,642$600,331$595,148$590,086$568,923
2 years$302,517$296,883$291,423$286,129$280,994$259,901
3 years$199,675$194,016$188,570$183,325$178,274$157,915
4 years$148,264$142,623$137,231$132,076$127,146$107,676
5 years$117,425$111,818$106,497$101,447$96,655$78,125
6 years$96,873$91,308$86,065$81,128$76,480$58,903
7 years$82,198$76,680$71,520$66,700$62,198$45,572
8 years$71,197$65,729$60,655$55,953$51,600$35,909
9 years$62,646$57,229$52,242$47,659$43,454$28,678
10 years$55,808$50,444$45,546$41,083$37,025$23,139
11 years$50,218$44,908$40,098$35,754$31,843$18,817
12 years$45,562$40,307$35,586$31,361$27,594$15,398
13 years$41,626$36,426$31,794$27,687$24,063$12,662
14 years$38,255$33,110$28,567$24,578$21,093$10,454
15 years$35,336$30,246$25,792$21,919$18,572$8,658
16 years$32,785$27,751$23,384$19,626$16,414$7,190
17 years$30,536$25,557$21,279$17,634$14,554$5,983
18 years$28,539$23,616$19,425$15,892$12,941$4,988
19 years$26,754$21,887$17,782$14,360$11,534$4,165
20 years$25,150$20,339$16,320$13,005$10,303$3,481
21 years$23,701$18,945$15,011$11,803$9,220$2,913
22 years$22,385$17,684$13,835$10,732$8,264$2,439
23 years$21,185$16,540$12,774$9,774$7,418$2,044
24 years$20,087$15,496$11,814$8,914$6,668$1,714
25 years$19,078$14,543$10,942$8,141$6,000$1,438
26 years$18,149$13,668$10,148$7,444$5,405$1,207
27 years$17,289$12,863$9,423$6,813$4,873$1,013
28 years$16,493$12,121$8,760$6,242$4,397$851
29 years$15,753$11,434$8,152$5,724$3,970$715
30 years$15,063$10,799$7,594$5,254$3,587$600
31 years$14,419$10,208$7,079$4,825$3,243$505
32 years$13,817$9,659$6,605$4,434$2,934$424
33 years$13,252$9,147$6,167$4,078$2,655$356
34 years$12,722$8,670$5,762$3,752$2,404$300
35 years$12,223$8,223$5,387$3,454$2,177$252
36 years$11,753$7,805$5,040$3,181$1,973$212
37 years$11,309$7,413$4,717$2,931$1,788$178
38 years$10,890$7,045$4,417$2,701$1,621$150
39 years$10,493$6,699$4,139$2,491$1,470$126
40 years$10,117$6,373$3,879$2,297$1,333$106
41 years$9,760$6,067$3,637$2,120$1,210$89
42 years$9,421$5,778$3,412$1,956$1,098$75
43 years$9,099$5,505$3,202$1,806$996$63
44 years$8,792$5,248$3,005$1,667$904$53
45 years$8,500$5,004$2,822$1,540$821$45
46 years$8,221$4,774$2,650$1,422$745$37
47 years$7,955$4,556$2,490$1,314$677$31
48 years$7,701$4,349$2,340$1,214$615$26
49 years$7,458$4,153$2,199$1,122$558$22
50 years$7,225$3,967$2,068$1,037$507$19

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 $6,565 every year, while hoping to spend $57,901 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: 57/28/15 Blend
56$7,400,000$7,400,000$7,400,000$7,400,000
57$8,161,572$7,769,372$7,654,672$8,594,774
58$8,932,446$8,088,465$7,849,497$9,208,175
59$9,780,009$8,421,253$8,048,908$9,869,373
60$10,712,021$8,768,346$8,252,998$10,588,548
61$11,737,034$9,130,381$8,461,860$11,371,274
62$12,864,468$9,508,027$8,675,590$12,223,680
63$14,104,704$9,901,980$8,894,282$13,152,505
64$15,469,177$10,312,971$9,118,034$14,165,163
65$16,970,490$10,741,763$9,346,945$15,269,809
66$18,622,525$11,189,154$9,581,113$16,475,414
67$20,440,581$11,655,981$9,820,638$17,791,847
68$22,441,513$12,143,117$10,065,622$19,229,970
69$24,643,893$12,651,476$10,316,167$20,801,733
70$27,068,188$13,182,015$10,572,375$22,520,288
71$29,736,944$13,735,736$10,834,351$24,400,108
72$32,675,009$14,313,684$11,102,199$26,457,126
73$35,909,762$14,916,956$11,376,024$28,708,876
74$39,471,369$15,546,698$11,655,932$31,174,662
75$43,393,072$16,204,110$11,942,030$33,875,733
76$47,711,501$16,890,447$12,234,424$36,835,484
77$52,467,019$17,607,023$12,533,221$40,079,669
78$57,704,101$18,355,214$12,838,531$43,636,648
79$63,471,757$19,136,457$13,150,459$47,537,645
80$69,823,992$19,952,259$13,469,115$51,817,041
81$76,820,316$20,804,196$13,794,607$56,512,697
82$84,526,304$21,693,918$14,127,043$61,666,306
83$93,014,218$22,623,151$14,466,530$67,323,782
84$102,363,686$23,593,703$14,813,176$73,535,689
85$112,662,453$24,607,465$15,167,088$80,357,719
86$124,007,210$25,666,418$15,528,373$87,851,203
87$136,504,509$26,772,636$15,897,136$96,083,698
88$150,271,761$27,928,288$16,273,483$105,129,608
89$165,438,353$29,135,646$16,657,517$115,070,889
90$182,146,862$30,397,089$17,049,340$125,997,815
91$200,554,403$31,715,108$17,449,054$138,009,825
92$220,834,113$33,092,309$17,856,758$151,216,453
93$243,176,783$34,531,422$18,272,550$165,738,360
94$267,792,659$36,035,306$18,696,525$181,708,466
95$294,913,428$37,606,954$19,128,776$199,273,196
96$324,794,402$39,249,499$19,569,394$218,593,856
97$357,716,928$40,966,222$20,018,467$239,848,150
98$393,991,048$42,760,560$20,476,079$263,231,850
99$433,958,418$44,636,111$20,942,310$288,960,634
100$477,995,539$46,596,642$21,417,240$317,272,117