Can I retire at age 59 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%16.7%
1 years$611,085$605,642$600,331$595,148$590,086$573,959
2 years$302,517$296,883$291,423$286,129$280,994$264,864
3 years$199,675$194,016$188,570$183,325$178,274$162,646
4 years$148,264$142,623$137,231$132,076$127,146$112,141
5 years$117,425$111,818$106,497$101,447$96,655$82,312
6 years$96,873$91,308$86,065$81,128$76,480$62,814
7 years$82,198$76,680$71,520$66,700$62,198$49,210
8 years$71,197$65,729$60,655$55,953$51,600$39,282
9 years$62,646$57,229$52,242$47,659$43,454$31,796
10 years$55,808$50,444$45,546$41,083$37,025$26,011
11 years$50,218$44,908$40,098$35,754$31,843$21,456
12 years$45,562$40,307$35,586$31,361$27,594$17,815
13 years$41,626$36,426$31,794$27,687$24,063$14,870
14 years$38,255$33,110$28,567$24,578$21,093$12,465
15 years$35,336$30,246$25,792$21,919$18,572$10,486
16 years$32,785$27,751$23,384$19,626$16,414$8,847
17 years$30,536$25,557$21,279$17,634$14,554$7,482
18 years$28,539$23,616$19,425$15,892$12,941$6,341
19 years$26,754$21,887$17,782$14,360$11,534$5,382
20 years$25,150$20,339$16,320$13,005$10,303$4,575
21 years$23,701$18,945$15,011$11,803$9,220$3,894
22 years$22,385$17,684$13,835$10,732$8,264$3,318
23 years$21,185$16,540$12,774$9,774$7,418$2,829
24 years$20,087$15,496$11,814$8,914$6,668$2,414
25 years$19,078$14,543$10,942$8,141$6,000$2,061
26 years$18,149$13,668$10,148$7,444$5,405$1,761
27 years$17,289$12,863$9,423$6,813$4,873$1,505
28 years$16,493$12,121$8,760$6,242$4,397$1,286
29 years$15,753$11,434$8,152$5,724$3,970$1,100
30 years$15,063$10,799$7,594$5,254$3,587$941
31 years$14,419$10,208$7,079$4,825$3,243$805
32 years$13,817$9,659$6,605$4,434$2,934$689
33 years$13,252$9,147$6,167$4,078$2,655$590
34 years$12,722$8,670$5,762$3,752$2,404$505
35 years$12,223$8,223$5,387$3,454$2,177$433
36 years$11,753$7,805$5,040$3,181$1,973$370
37 years$11,309$7,413$4,717$2,931$1,788$317
38 years$10,890$7,045$4,417$2,701$1,621$272
39 years$10,493$6,699$4,139$2,491$1,470$233
40 years$10,117$6,373$3,879$2,297$1,333$199
41 years$9,760$6,067$3,637$2,120$1,210$171
42 years$9,421$5,778$3,412$1,956$1,098$146
43 years$9,099$5,505$3,202$1,806$996$125
44 years$8,792$5,248$3,005$1,667$904$107
45 years$8,500$5,004$2,822$1,540$821$92
46 years$8,221$4,774$2,650$1,422$745$79
47 years$7,955$4,556$2,490$1,314$677$68
48 years$7,701$4,349$2,340$1,214$615$58
49 years$7,458$4,153$2,199$1,122$558$50
50 years$7,225$3,967$2,068$1,037$507$42

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 $6,699 every year, while hoping to spend $28,337 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: 72/8/20 Blend
58$7,400,000$7,400,000$7,400,000$7,400,000
59$8,161,710$7,769,510$7,654,810$8,709,513
60$8,964,054$8,120,066$7,881,096$9,425,432
61$9,847,288$8,486,849$8,114,012$10,205,229
62$10,819,631$8,870,625$8,353,752$11,058,568
63$11,890,143$9,272,195$8,600,513$11,992,745
64$13,068,805$9,692,400$8,854,497$13,015,793
65$14,366,616$10,132,120$9,115,915$14,136,554
66$15,795,694$10,592,277$9,384,981$15,364,767
67$17,369,394$11,073,838$9,661,917$16,711,155
68$19,102,431$11,577,815$9,946,951$18,187,526
69$21,011,021$12,105,270$10,240,316$19,806,882
70$23,113,031$12,657,315$10,542,253$21,583,545
71$25,428,152$13,235,114$10,853,010$23,533,286
72$27,978,079$13,839,890$11,172,841$25,673,474
73$30,786,721$14,472,923$11,502,009$28,023,242
74$33,880,423$15,135,552$11,840,782$30,603,660
75$37,288,216$15,829,184$12,189,439$33,437,940
76$41,042,092$16,555,292$12,548,263$36,551,646
77$45,177,303$17,315,419$12,917,547$39,972,940
78$49,732,696$18,111,184$13,297,594$43,732,843
79$54,751,080$18,944,280$13,688,712$47,865,527
80$60,279,627$19,816,487$14,091,221$52,408,635
81$66,370,320$20,729,666$14,505,448$57,403,638
82$73,080,442$21,685,769$14,931,730$62,896,219
83$80,473,118$22,686,842$15,370,413$68,936,707
84$88,617,908$23,735,029$15,821,854$75,580,549
85$97,591,467$24,832,579$16,286,419$82,888,830
86$107,478,268$25,981,846$16,764,485$90,928,849
87$118,371,395$27,185,300$17,256,438$99,774,751
88$130,373,426$28,445,529$17,762,678$109,508,225
89$143,597,402$29,765,245$18,283,614$120,219,275
90$158,167,888$31,147,294$18,819,667$132,007,061
91$174,222,156$32,594,655$19,371,269$144,980,841
92$191,911,475$34,110,452$19,938,865$159,260,991
93$211,402,543$35,697,961$20,522,915$174,980,146
94$232,879,056$37,360,616$21,123,886$192,284,444
95$256,543,448$39,102,014$21,742,265$211,334,905
96$282,618,796$40,925,928$22,378,546$232,308,947
97$311,350,928$42,836,314$23,033,243$255,402,059
98$343,010,746$44,837,317$23,706,880$280,829,642
99$377,896,779$46,933,282$24,399,997$308,829,036
100$416,338,004$49,128,766$25,113,150$339,661,763