Can I retire at age 64 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%13.4%
1 years$611,085$605,642$600,331$595,148$590,086$581,749
2 years$302,517$296,883$291,423$286,129$280,994$272,609
3 years$199,675$194,016$188,570$183,325$178,274$170,104
4 years$148,264$142,623$137,231$132,076$127,146$119,254
5 years$117,425$111,818$106,497$101,447$96,655$89,063
6 years$96,873$91,308$86,065$81,128$76,480$69,197
7 years$82,198$76,680$71,520$66,700$62,198$55,227
8 years$71,197$65,729$60,655$55,953$51,600$44,939
9 years$62,646$57,229$52,242$47,659$43,454$37,101
10 years$55,808$50,444$45,546$41,083$37,025$30,975
11 years$50,218$44,908$40,098$35,754$31,843$26,090
12 years$45,562$40,307$35,586$31,361$27,594$22,132
13 years$41,626$36,426$31,794$27,687$24,063$18,883
14 years$38,255$33,110$28,567$24,578$21,093$16,188
15 years$35,336$30,246$25,792$21,919$18,572$13,934
16 years$32,785$27,751$23,384$19,626$16,414$12,033
17 years$30,536$25,557$21,279$17,634$14,554$10,421
18 years$28,539$23,616$19,425$15,892$12,941$9,047
19 years$26,754$21,887$17,782$14,360$11,534$7,870
20 years$25,150$20,339$16,320$13,005$10,303$6,858
21 years$23,701$18,945$15,011$11,803$9,220$5,985
22 years$22,385$17,684$13,835$10,732$8,264$5,231
23 years$21,185$16,540$12,774$9,774$7,418$4,576
24 years$20,087$15,496$11,814$8,914$6,668$4,008
25 years$19,078$14,543$10,942$8,141$6,000$3,513
26 years$18,149$13,668$10,148$7,444$5,405$3,081
27 years$17,289$12,863$9,423$6,813$4,873$2,705
28 years$16,493$12,121$8,760$6,242$4,397$2,375
29 years$15,753$11,434$8,152$5,724$3,970$2,087
30 years$15,063$10,799$7,594$5,254$3,587$1,835
31 years$14,419$10,208$7,079$4,825$3,243$1,613
32 years$13,817$9,659$6,605$4,434$2,934$1,419
33 years$13,252$9,147$6,167$4,078$2,655$1,249
34 years$12,722$8,670$5,762$3,752$2,404$1,099
35 years$12,223$8,223$5,387$3,454$2,177$968
36 years$11,753$7,805$5,040$3,181$1,973$852
37 years$11,309$7,413$4,717$2,931$1,788$750
38 years$10,890$7,045$4,417$2,701$1,621$661
39 years$10,493$6,699$4,139$2,491$1,470$582
40 years$10,117$6,373$3,879$2,297$1,333$513
41 years$9,760$6,067$3,637$2,120$1,210$452
42 years$9,421$5,778$3,412$1,956$1,098$398
43 years$9,099$5,505$3,202$1,806$996$351
44 years$8,792$5,248$3,005$1,667$904$309
45 years$8,500$5,004$2,822$1,540$821$273
46 years$8,221$4,774$2,650$1,422$745$240
47 years$7,955$4,556$2,490$1,314$677$212
48 years$7,701$4,349$2,340$1,214$615$187
49 years$7,458$4,153$2,199$1,122$558$165
50 years$7,225$3,967$2,068$1,037$507$145

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $7,400,000, adding $4,872 every year, while hoping to spend $51,519 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: 36/39/25 Blend
63$7,400,000$7,400,000$7,400,000$7,400,000
64$8,159,825$7,767,625$7,652,925$8,391,981
65$8,937,312$8,093,423$7,854,483$8,889,632
66$9,792,375$8,433,459$8,061,065$9,421,451
67$10,732,874$8,788,374$8,272,787$9,994,584
68$11,767,466$9,158,844$8,489,765$10,612,769
69$12,905,692$9,545,571$8,712,116$11,280,112
70$14,158,062$9,949,294$8,939,962$12,001,114
71$15,536,157$10,370,782$9,173,423$12,780,717
72$17,052,738$10,810,844$9,412,626$13,624,347
73$18,721,865$11,270,323$9,657,697$14,537,958
74$20,559,031$11,750,104$9,908,765$15,528,093
75$22,581,304$12,251,111$10,165,961$16,601,936
76$24,807,495$12,774,313$10,429,418$17,767,380
77$27,258,328$13,320,723$10,699,272$19,033,096
78$29,956,641$13,891,403$10,975,662$20,408,614
79$32,927,598$14,487,461$11,258,726$21,904,408
80$36,198,927$15,110,060$11,548,607$23,531,991
81$39,801,182$15,760,418$11,845,450$25,304,019
82$43,768,031$16,439,807$12,149,401$27,234,407
83$48,136,574$17,149,560$12,460,609$29,338,459
84$52,947,690$17,891,074$12,779,225$31,633,001
85$58,246,427$18,665,810$13,105,402$34,136,544
86$64,082,424$19,475,296$13,439,295$36,869,446
87$70,510,381$20,321,136$13,781,061$39,854,103
88$77,590,574$21,205,005$14,130,861$43,115,156
89$85,389,423$22,128,661$14,488,855$46,679,715
90$93,980,120$23,093,941$14,855,207$50,577,611
91$103,443,318$24,102,770$15,230,082$54,841,673
92$113,867,895$25,157,164$15,613,649$59,508,026
93$125,351,790$26,259,235$16,006,075$64,616,435
94$138,002,927$27,411,192$16,407,534$70,210,662
95$151,940,236$28,615,351$16,818,196$76,338,882
96$167,294,772$29,874,135$17,238,238$83,054,124
97$184,210,955$31,190,084$17,667,835$90,414,767
98$202,847,930$32,565,855$18,107,165$98,485,081
99$223,381,071$34,004,235$18,556,407$107,335,825
100$246,003,637$35,508,138$19,015,743$117,044,911