Can I retire at age 74 with 12,000,000?

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 $12,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$990,949$982,122$973,510$965,105$956,897$950,070
2 years$490,569$481,432$472,578$463,993$455,665$448,781
3 years$323,797$314,621$305,789$297,285$289,093$282,365
4 years$240,428$231,280$222,536$214,177$206,183$199,663
5 years$190,419$181,326$172,697$164,508$156,737$150,445
6 years$157,091$148,067$139,565$131,559$124,021$117,963
7 years$133,294$124,346$115,979$108,162$100,862$95,043
8 years$115,455$106,588$98,360$90,734$83,675$78,093
9 years$101,588$92,804$84,717$77,285$70,466$65,121
10 years$90,500$81,802$73,858$66,621$60,041$54,930
11 years$81,434$72,823$65,024$57,980$51,637$46,756
12 years$73,885$65,362$57,707$50,856$44,748$40,092
13 years$67,502$59,068$51,557$44,898$39,021$34,586
14 years$62,035$53,692$46,324$39,856$34,205$29,986
15 years$57,302$49,048$41,825$35,544$30,117$26,107
16 years$53,165$45,001$37,920$31,826$26,618$22,812
17 years$49,518$41,444$34,506$28,595$23,601$19,992
18 years$46,279$38,296$31,499$25,770$20,985$17,567
19 years$43,385$35,493$28,836$23,286$18,704$15,471
20 years$40,784$32,981$26,464$21,090$16,707$13,652
21 years$38,434$30,721$24,342$19,140$14,951$12,066
22 years$36,300$28,677$22,435$17,403$13,401$10,681
23 years$34,354$26,821$20,715$15,849$12,030$9,467
24 years$32,574$25,129$19,158$14,455$10,813$8,400
25 years$30,938$23,583$17,744$13,201$9,730$7,462
26 years$29,430$22,164$16,457$12,071$8,764$6,633
27 years$28,037$20,859$15,281$11,049$7,902$5,902
28 years$26,745$19,655$14,206$10,123$7,130$5,254
29 years$25,545$18,542$13,220$9,283$6,438$4,681
30 years$24,427$17,511$12,314$8,519$5,817$4,172
31 years$23,383$16,554$11,480$7,824$5,259$3,720
32 years$22,406$15,663$10,711$7,191$4,757$3,319
33 years$21,490$14,834$10,001$6,613$4,305$2,962
34 years$20,630$14,059$9,344$6,084$3,898$2,645
35 years$19,821$13,335$8,736$5,601$3,531$2,362
36 years$19,059$12,656$8,172$5,158$3,199$2,110
37 years$18,339$12,021$7,649$4,753$2,899$1,885
38 years$17,659$11,424$7,163$4,381$2,629$1,684
39 years$17,016$10,863$6,711$4,039$2,384$1,506
40 years$16,406$10,335$6,290$3,725$2,162$1,346
41 years$15,827$9,838$5,898$3,437$1,961$1,203
42 years$15,278$9,370$5,533$3,172$1,780$1,076
43 years$14,755$8,927$5,192$2,928$1,615$962
44 years$14,258$8,510$4,873$2,704$1,466$861
45 years$13,784$8,115$4,576$2,497$1,331$770
46 years$13,332$7,741$4,298$2,307$1,209$689
47 years$12,900$7,387$4,038$2,131$1,097$616
48 years$12,488$7,052$3,794$1,969$997$551
49 years$12,094$6,735$3,567$1,820$905$493
50 years$11,716$6,433$3,353$1,682$822$442

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $12,000,000, adding $2,030 every year, while hoping to spend $54,964 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: 49/38/13 Blend
73$12,000,000$12,000,000$12,000,000$12,000,000
74$13,226,094$12,590,094$12,404,094$13,826,889
75$14,516,674$13,148,527$12,761,150$14,798,770
76$15,937,052$13,732,482$13,128,325$15,847,988
77$17,500,407$14,343,150$13,505,900$16,986,461
78$19,221,265$14,981,780$13,894,164$18,222,569
79$21,115,629$15,649,682$14,293,413$19,565,515
80$23,201,132$16,348,226$14,703,952$21,025,409
81$25,497,205$17,078,847$15,126,092$22,613,356
82$28,025,259$17,843,049$15,560,155$24,341,561
83$30,808,886$18,642,409$16,006,470$26,223,436
84$33,874,081$19,478,576$16,465,376$28,273,722
85$37,249,492$20,353,280$16,937,220$30,508,623
86$40,966,682$21,268,333$17,422,359$32,945,954
87$45,060,434$22,225,632$17,921,159$35,605,302
88$49,569,077$23,227,166$18,433,996$38,508,208
89$54,534,844$24,275,018$18,961,256$41,678,358
90$60,004,275$25,371,372$19,503,336$45,141,809
91$66,028,655$26,518,513$20,060,641$48,927,218
92$72,664,496$27,718,838$20,633,591$53,066,112
93$79,974,072$28,974,858$21,222,613$57,593,178
94$88,026,005$30,289,204$21,828,149$62,546,577
95$96,895,914$31,664,632$22,450,649$67,968,302
96$106,667,129$33,104,031$23,090,577$73,904,563
97$117,431,475$34,610,426$23,748,410$80,406,214
98$129,290,139$36,186,991$24,424,635$87,529,226
99$142,354,627$37,837,048$25,119,754$95,335,201
100$156,747,815$39,564,079$25,834,283$103,891,948