Can I retire at age 66 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%17.4%
1 years$611,085$605,642$600,331$595,148$590,086$572,344
2 years$302,517$296,883$291,423$286,129$280,994$263,268
3 years$199,675$194,016$188,570$183,325$178,274$161,120
4 years$148,264$142,623$137,231$132,076$127,146$110,697
5 years$117,425$111,818$106,497$101,447$96,655$80,954
6 years$96,873$91,308$86,065$81,128$76,480$61,541
7 years$82,198$76,680$71,520$66,700$62,198$48,022
8 years$71,197$65,729$60,655$55,953$51,600$38,176
9 years$62,646$57,229$52,242$47,659$43,454$30,770
10 years$55,808$50,444$45,546$41,083$37,025$25,062
11 years$50,218$44,908$40,098$35,754$31,843$20,580
12 years$45,562$40,307$35,586$31,361$27,594$17,009
13 years$41,626$36,426$31,794$27,687$24,063$14,130
14 years$38,255$33,110$28,567$24,578$21,093$11,788
15 years$35,336$30,246$25,792$21,919$18,572$9,868
16 years$32,785$27,751$23,384$19,626$16,414$8,284
17 years$30,536$25,557$21,279$17,634$14,554$6,970
18 years$28,539$23,616$19,425$15,892$12,941$5,876
19 years$26,754$21,887$17,782$14,360$11,534$4,962
20 years$25,150$20,339$16,320$13,005$10,303$4,195
21 years$23,701$18,945$15,011$11,803$9,220$3,551
22 years$22,385$17,684$13,835$10,732$8,264$3,009
23 years$21,185$16,540$12,774$9,774$7,418$2,552
24 years$20,087$15,496$11,814$8,914$6,668$2,165
25 years$19,078$14,543$10,942$8,141$6,000$1,838
26 years$18,149$13,668$10,148$7,444$5,405$1,562
27 years$17,289$12,863$9,423$6,813$4,873$1,327
28 years$16,493$12,121$8,760$6,242$4,397$1,128
29 years$15,753$11,434$8,152$5,724$3,970$959
30 years$15,063$10,799$7,594$5,254$3,587$816
31 years$14,419$10,208$7,079$4,825$3,243$694
32 years$13,817$9,659$6,605$4,434$2,934$591
33 years$13,252$9,147$6,167$4,078$2,655$503
34 years$12,722$8,670$5,762$3,752$2,404$428
35 years$12,223$8,223$5,387$3,454$2,177$364
36 years$11,753$7,805$5,040$3,181$1,973$310
37 years$11,309$7,413$4,717$2,931$1,788$264
38 years$10,890$7,045$4,417$2,701$1,621$225
39 years$10,493$6,699$4,139$2,491$1,470$191
40 years$10,117$6,373$3,879$2,297$1,333$163
41 years$9,760$6,067$3,637$2,120$1,210$139
42 years$9,421$5,778$3,412$1,956$1,098$118
43 years$9,099$5,505$3,202$1,806$996$101
44 years$8,792$5,248$3,005$1,667$904$86
45 years$8,500$5,004$2,822$1,540$821$73
46 years$8,221$4,774$2,650$1,422$745$62
47 years$7,955$4,556$2,490$1,314$677$53
48 years$7,701$4,349$2,340$1,214$615$45
49 years$7,458$4,153$2,199$1,122$558$38
50 years$7,225$3,967$2,068$1,037$507$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $7,400,000, adding $5,427 every year, while hoping to spend $35,991 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: 54/29/17 Blend
65$7,400,000$7,400,000$7,400,000$7,400,000
66$8,160,398$7,768,198$7,653,498$8,563,515
67$8,954,464$8,110,546$7,871,596$9,181,803
68$9,828,319$8,468,462$8,095,794$9,850,180
69$10,790,063$8,842,672$8,326,258$10,576,917
70$11,848,622$9,233,935$8,563,160$11,367,589
71$13,013,829$9,643,045$8,806,674$12,228,319
72$14,296,522$10,070,837$9,056,980$13,165,843
73$15,708,641$10,518,182$9,314,262$14,187,562
74$17,263,343$10,985,993$9,578,711$15,301,619
75$18,975,126$11,475,229$9,850,520$16,516,965
76$20,859,965$11,986,892$10,129,888$17,843,447
77$22,935,463$12,522,031$10,417,021$19,291,896
78$25,221,017$13,081,747$10,712,128$20,874,227
79$27,738,001$13,667,192$11,015,424$22,603,547
80$30,509,966$14,279,574$11,327,131$24,494,278
81$33,562,867$14,920,158$11,647,474$26,562,288
82$36,925,302$15,590,268$11,976,687$28,825,041
83$40,628,784$16,291,293$12,315,007$31,301,753
84$44,708,041$17,024,686$12,662,680$34,013,575
85$49,201,337$17,791,973$13,019,956$36,983,787
86$54,150,842$18,594,748$13,387,093$40,238,013
87$59,603,022$19,434,684$13,764,355$43,804,459
88$65,609,081$20,313,535$14,152,012$47,714,178
89$72,225,445$21,233,135$14,550,341$52,001,353
90$79,514,291$22,195,409$14,959,629$56,703,622
91$87,544,138$23,202,374$15,380,165$61,862,422
92$96,390,490$24,256,140$15,812,251$67,523,381
93$106,136,550$25,358,921$16,256,192$73,736,739
94$116,874,007$26,513,037$16,712,303$80,557,817
95$128,703,898$27,720,918$17,180,907$88,047,538
96$141,737,563$28,985,110$17,662,335$96,272,992
97$156,097,696$30,308,283$18,156,925$105,308,062
98$171,919,505$31,693,233$18,665,026$115,234,119
99$189,351,983$33,142,890$19,186,993$126,140,782
100$208,559,320$34,660,326$19,723,192$138,126,755