Can I retire at age 59 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%13.9%
1 years$611,085$605,642$600,331$595,148$590,086$580,550
2 years$302,517$296,883$291,423$286,129$280,994$271,412
3 years$199,675$194,016$188,570$183,325$178,274$168,945
4 years$148,264$142,623$137,231$132,076$127,146$118,143
5 years$117,425$111,818$106,497$101,447$96,655$88,002
6 years$96,873$91,308$86,065$81,128$76,480$68,188
7 years$82,198$76,680$71,520$66,700$62,198$54,270
8 years$71,197$65,729$60,655$55,953$51,600$44,033
9 years$62,646$57,229$52,242$47,659$43,454$36,246
10 years$55,808$50,444$45,546$41,083$37,025$30,169
11 years$50,218$44,908$40,098$35,754$31,843$25,331
12 years$45,562$40,307$35,586$31,361$27,594$21,419
13 years$41,626$36,426$31,794$27,687$24,063$18,215
14 years$38,255$33,110$28,567$24,578$21,093$15,564
15 years$35,336$30,246$25,792$21,919$18,572$13,350
16 years$32,785$27,751$23,384$19,626$16,414$11,489
17 years$30,536$25,557$21,279$17,634$14,554$9,915
18 years$28,539$23,616$19,425$15,892$12,941$8,576
19 years$26,754$21,887$17,782$14,360$11,534$7,433
20 years$25,150$20,339$16,320$13,005$10,303$6,453
21 years$23,701$18,945$15,011$11,803$9,220$5,611
22 years$22,385$17,684$13,835$10,732$8,264$4,885
23 years$21,185$16,540$12,774$9,774$7,418$4,257
24 years$20,087$15,496$11,814$8,914$6,668$3,714
25 years$19,078$14,543$10,942$8,141$6,000$3,242
26 years$18,149$13,668$10,148$7,444$5,405$2,833
27 years$17,289$12,863$9,423$6,813$4,873$2,477
28 years$16,493$12,121$8,760$6,242$4,397$2,166
29 years$15,753$11,434$8,152$5,724$3,970$1,896
30 years$15,063$10,799$7,594$5,254$3,587$1,660
31 years$14,419$10,208$7,079$4,825$3,243$1,453
32 years$13,817$9,659$6,605$4,434$2,934$1,273
33 years$13,252$9,147$6,167$4,078$2,655$1,116
34 years$12,722$8,670$5,762$3,752$2,404$978
35 years$12,223$8,223$5,387$3,454$2,177$857
36 years$11,753$7,805$5,040$3,181$1,973$752
37 years$11,309$7,413$4,717$2,931$1,788$659
38 years$10,890$7,045$4,417$2,701$1,621$578
39 years$10,493$6,699$4,139$2,491$1,470$507
40 years$10,117$6,373$3,879$2,297$1,333$445
41 years$9,760$6,067$3,637$2,120$1,210$390
42 years$9,421$5,778$3,412$1,956$1,098$343
43 years$9,099$5,505$3,202$1,806$996$301
44 years$8,792$5,248$3,005$1,667$904$264
45 years$8,500$5,004$2,822$1,540$821$231
46 years$8,221$4,774$2,650$1,422$745$203
47 years$7,955$4,556$2,490$1,314$677$178
48 years$7,701$4,349$2,340$1,214$615$157
49 years$7,458$4,153$2,199$1,122$558$137
50 years$7,225$3,967$2,068$1,037$507$121

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $7,400,000, adding $2,617 every year, while hoping to spend $31,360 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: 36/50/14 Blend
58$7,400,000$7,400,000$7,400,000$7,400,000
59$8,157,499$7,765,299$7,650,599$8,415,930
60$8,956,198$8,112,432$7,873,528$8,949,493
61$9,835,312$8,475,524$8,102,873$9,521,950
62$10,803,012$8,855,322$8,338,817$10,139,271
63$11,868,299$9,252,613$8,581,547$10,805,465
64$13,041,091$9,668,217$8,831,255$11,524,925
65$14,332,319$10,102,996$9,088,139$12,302,470
66$15,754,024$10,557,851$9,352,400$13,143,377
67$17,319,477$11,033,729$9,624,248$14,053,439
68$19,043,301$11,531,619$9,903,898$15,039,006
69$20,941,608$12,052,558$10,191,568$16,107,047
70$23,032,152$12,597,634$10,487,486$17,265,208
71$25,334,499$13,167,985$10,791,884$18,521,882
72$27,870,207$13,764,805$11,105,001$19,886,282
73$30,663,032$14,389,345$11,427,083$21,368,525
74$33,739,152$15,042,914$11,758,381$22,979,720
75$37,127,414$15,726,885$12,099,155$24,732,067
76$40,859,605$16,442,697$12,449,672$26,638,972
77$44,970,753$17,191,857$12,810,204$28,715,161
78$49,499,457$17,975,946$13,181,033$30,976,815
79$54,488,253$18,796,618$13,562,449$33,441,721
80$59,984,010$19,655,608$13,954,747$36,129,425
81$66,038,381$20,554,735$14,358,233$39,061,416
82$72,708,282$21,495,903$14,773,219$42,261,319
83$80,056,433$22,481,108$15,200,028$45,755,110
84$88,151,951$23,512,444$15,638,991$49,571,354
85$97,070,998$24,592,102$16,090,446$53,741,466
86$106,897,507$25,722,382$16,554,742$58,300,000
87$117,723,965$26,905,691$17,032,239$63,284,962
88$129,652,294$28,144,555$17,523,303$68,738,164
89$142,794,807$29,441,617$18,028,313$74,705,607
90$157,275,273$30,799,652$18,547,657$81,237,901
91$173,230,082$32,221,566$19,081,735$88,390,738
92$190,809,532$33,710,405$19,630,955$96,225,401
93$210,179,251$35,269,361$20,195,738$104,809,334
94$231,521,756$36,901,781$20,776,517$114,216,762
95$255,038,179$38,611,173$21,373,734$124,529,384
96$280,950,166$40,401,213$21,987,847$135,837,124
97$309,501,965$42,275,754$22,619,322$148,238,971
98$340,962,737$44,238,837$23,268,640$161,843,893
99$375,629,091$46,294,696$23,936,295$176,771,855
100$413,827,891$48,447,768$24,622,794$193,154,931