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%15.9%
1 years$611,085$605,642$600,331$595,148$590,086$575,821
2 years$302,517$296,883$291,423$286,129$280,994$266,707
3 years$199,675$194,016$188,570$183,325$178,274$164,413
4 years$148,264$142,623$137,231$132,076$127,146$113,818
5 years$117,425$111,818$106,497$101,447$96,655$83,896
6 years$96,873$91,308$86,065$81,128$76,480$64,303
7 years$82,198$76,680$71,520$66,700$62,198$50,605
8 years$71,197$65,729$60,655$55,953$51,600$40,585
9 years$62,646$57,229$52,242$47,659$43,454$33,010
10 years$55,808$50,444$45,546$41,083$37,025$27,139
11 years$50,218$44,908$40,098$35,754$31,843$22,501
12 years$45,562$40,307$35,586$31,361$27,594$18,781
13 years$41,626$36,426$31,794$27,687$24,063$15,761
14 years$38,255$33,110$28,567$24,578$21,093$13,285
15 years$35,336$30,246$25,792$21,919$18,572$11,239
16 years$32,785$27,751$23,384$19,626$16,414$9,536
17 years$30,536$25,557$21,279$17,634$14,554$8,112
18 years$28,539$23,616$19,425$15,892$12,941$6,915
19 years$26,754$21,887$17,782$14,360$11,534$5,905
20 years$25,150$20,339$16,320$13,005$10,303$5,051
21 years$23,701$18,945$15,011$11,803$9,220$4,325
22 years$22,385$17,684$13,835$10,732$8,264$3,708
23 years$21,185$16,540$12,774$9,774$7,418$3,181
24 years$20,087$15,496$11,814$8,914$6,668$2,732
25 years$19,078$14,543$10,942$8,141$6,000$2,347
26 years$18,149$13,668$10,148$7,444$5,405$2,018
27 years$17,289$12,863$9,423$6,813$4,873$1,736
28 years$16,493$12,121$8,760$6,242$4,397$1,494
29 years$15,753$11,434$8,152$5,724$3,970$1,286
30 years$15,063$10,799$7,594$5,254$3,587$1,108
31 years$14,419$10,208$7,079$4,825$3,243$954
32 years$13,817$9,659$6,605$4,434$2,934$822
33 years$13,252$9,147$6,167$4,078$2,655$708
34 years$12,722$8,670$5,762$3,752$2,404$611
35 years$12,223$8,223$5,387$3,454$2,177$526
36 years$11,753$7,805$5,040$3,181$1,973$454
37 years$11,309$7,413$4,717$2,931$1,788$391
38 years$10,890$7,045$4,417$2,701$1,621$337
39 years$10,493$6,699$4,139$2,491$1,470$291
40 years$10,117$6,373$3,879$2,297$1,333$251
41 years$9,760$6,067$3,637$2,120$1,210$216
42 years$9,421$5,778$3,412$1,956$1,098$187
43 years$9,099$5,505$3,202$1,806$996$161
44 years$8,792$5,248$3,005$1,667$904$139
45 years$8,500$5,004$2,822$1,540$821$120
46 years$8,221$4,774$2,650$1,422$745$103
47 years$7,955$4,556$2,490$1,314$677$89
48 years$7,701$4,349$2,340$1,214$615$77
49 years$7,458$4,153$2,199$1,122$558$66
50 years$7,225$3,967$2,068$1,037$507$57

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 $6,990 every year, while hoping to spend $50,757 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: 61/34/5 Blend
58$7,400,000$7,400,000$7,400,000$7,400,000
59$8,162,010$7,769,810$7,655,110$8,652,844
60$8,940,530$8,096,526$7,857,551$9,308,099
61$9,796,758$8,437,549$8,065,073$10,016,163
62$10,738,566$8,793,528$8,277,792$10,787,363
63$11,774,629$9,165,140$8,495,827$11,627,777
64$12,914,503$9,553,094$8,719,299$12,544,089
65$14,168,719$9,958,132$8,948,332$13,543,649
66$15,548,878$10,381,030$9,183,051$14,634,539
67$17,067,764$10,822,601$9,423,583$15,825,650
68$18,739,463$11,283,695$9,670,060$17,126,760
69$20,579,495$11,765,203$9,922,614$18,548,627
70$22,604,961$12,268,056$10,181,380$20,103,087
71$24,834,705$12,793,229$10,446,494$21,803,160
72$27,289,490$13,341,742$10,718,097$23,663,176
73$29,992,195$13,914,665$10,996,330$25,698,904
74$32,968,030$14,513,114$11,281,338$27,927,696
75$36,244,774$15,138,262$11,573,268$30,368,651
76$39,853,038$15,791,333$11,872,269$33,042,791
77$43,826,549$16,473,610$12,178,492$35,973,255
78$48,202,477$17,186,437$12,492,091$39,185,516
79$53,021,777$17,931,219$12,813,223$42,707,613
80$58,329,578$18,709,430$13,142,046$46,570,419
81$64,175,612$19,522,609$13,478,722$50,807,921
82$70,614,679$20,372,371$13,823,413$55,457,541
83$77,707,165$21,260,405$14,176,286$60,560,484
84$85,519,613$22,188,482$14,537,509$66,162,122
85$94,125,349$23,158,454$14,907,251$72,312,415
86$103,605,177$24,172,260$15,285,686$79,066,382
87$114,048,136$25,231,932$15,672,988$86,484,612
88$125,552,348$26,339,599$16,069,335$94,633,831
89$138,225,935$27,497,487$16,474,906$103,587,526
90$152,188,047$28,707,930$16,889,881$113,426,634
91$167,569,980$29,973,371$17,314,444$124,240,296
92$184,516,421$31,296,369$17,748,782$136,126,697
93$203,186,810$32,679,605$18,193,080$149,193,979
94$223,756,844$34,125,885$18,647,528$163,561,263
95$246,420,139$35,638,150$19,112,316$179,359,759
96$271,390,053$37,219,480$19,587,639$196,733,999
97$298,901,702$38,873,098$20,073,689$215,843,195
98$329,214,181$40,602,385$20,570,662$236,862,729
99$362,613,004$42,410,878$21,078,756$259,985,805
100$399,412,805$44,302,286$21,598,169$285,425,256