Can I retire at age 74 with 5,000,000?

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 $5,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$412,895$409,217$405,629$402,127$398,707$387,030
2 years$204,404$200,597$196,907$193,330$189,860$178,191
3 years$134,915$131,092$127,412$123,869$120,455$109,158
4 years$100,178$96,367$92,723$89,240$85,910$75,072
5 years$79,341$75,553$71,957$68,545$65,307$54,959
6 years$65,455$61,694$58,152$54,816$51,675$41,826
7 years$55,539$51,811$48,325$45,067$42,026$32,675
8 years$48,106$44,411$40,983$37,806$34,865$26,006
9 years$42,328$38,668$35,299$32,202$29,361$20,986
10 years$37,708$34,084$30,774$27,759$25,017$17,115
11 years$33,931$30,343$27,093$24,158$21,515$14,072
12 years$30,785$27,234$24,044$21,190$18,645$11,645
13 years$28,126$24,612$21,482$18,708$16,259$9,688
14 years$25,848$22,371$19,302$16,607$14,252$8,093
15 years$23,876$20,437$17,427$14,810$12,549$6,784
16 years$22,152$18,750$15,800$13,261$11,091$5,703
17 years$20,632$17,268$14,377$11,915$9,834$4,806
18 years$19,283$15,957$13,125$10,738$8,744$4,058
19 years$18,077$14,789$12,015$9,702$7,793$3,431
20 years$16,993$13,742$11,027$8,787$6,961$2,906
21 years$16,014$12,800$10,143$7,975$6,230$2,464
22 years$15,125$11,949$9,348$7,251$5,584$2,091
23 years$14,314$11,175$8,631$6,604$5,012$1,776
24 years$13,572$10,471$7,982$6,023$4,505$1,509
25 years$12,891$9,826$7,393$5,501$4,054$1,283
26 years$12,263$9,235$6,857$5,029$3,652$1,092
27 years$11,682$8,691$6,367$4,604$3,292$929
28 years$11,144$8,190$5,919$4,218$2,971$791
29 years$10,644$7,726$5,508$3,868$2,683$674
30 years$10,178$7,296$5,131$3,550$2,424$574
31 years$9,743$6,898$4,783$3,260$2,191$489
32 years$9,336$6,526$4,463$2,996$1,982$417
33 years$8,954$6,181$4,167$2,755$1,794$356
34 years$8,596$5,858$3,893$2,535$1,624$303
35 years$8,259$5,556$3,640$2,334$1,471$259
36 years$7,941$5,274$3,405$2,149$1,333$220
37 years$7,641$5,009$3,187$1,980$1,208$188
38 years$7,358$4,760$2,985$1,825$1,095$160
39 years$7,090$4,526$2,796$1,683$993$137
40 years$6,836$4,306$2,621$1,552$901$117
41 years$6,595$4,099$2,458$1,432$817$100
42 years$6,366$3,904$2,305$1,322$742$85
43 years$6,148$3,720$2,163$1,220$673$72
44 years$5,941$3,546$2,031$1,127$611$62
45 years$5,743$3,381$1,907$1,040$555$53
46 years$5,555$3,225$1,791$961$504$45
47 years$5,375$3,078$1,682$888$457$38
48 years$5,203$2,938$1,581$820$415$33
49 years$5,039$2,806$1,486$758$377$28
50 years$4,882$2,680$1,397$701$343$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $5,000,000, adding $2,582 every year, while hoping to spend $36,916 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: 33/41/26 Blend
73$5,000,000$5,000,000$5,000,000$5,000,000
74$5,512,663$5,247,663$5,170,163$5,650,811
75$6,035,677$5,465,520$5,304,085$5,973,314
76$6,610,800$5,692,815$5,441,257$6,317,157
77$7,243,310$5,929,972$5,581,747$6,687,005
78$7,939,019$6,177,432$5,725,627$7,085,181
79$8,704,333$6,435,660$5,872,970$7,514,234
80$9,546,308$6,705,140$6,023,847$7,976,957
81$10,472,720$6,986,380$6,178,334$8,476,417
82$11,492,135$7,279,911$6,336,506$9,015,978
83$12,613,994$7,586,287$6,498,440$9,599,331
84$13,848,696$7,906,091$6,664,213$10,230,531
85$15,207,702$8,239,928$6,833,903$10,914,027
86$16,703,640$8,588,437$7,007,592$11,654,707
87$18,350,423$8,952,282$7,185,358$12,457,939
88$20,163,383$9,332,161$7,367,284$13,329,620
89$22,159,414$9,728,802$7,553,453$14,276,229
90$24,357,129$10,142,969$7,743,949$15,304,886
91$26,777,041$10,575,459$7,938,856$16,423,418
92$29,441,752$11,027,109$8,138,261$17,640,426
93$32,376,167$11,498,794$8,342,249$18,965,367
94$35,607,731$11,991,429$8,550,909$20,408,638
95$39,166,683$12,505,973$8,764,328$21,981,674
96$43,086,348$13,043,429$8,982,596$23,697,049
97$47,403,446$13,604,847$9,205,803$25,568,591
98$52,158,439$14,191,327$9,434,040$27,611,513
99$57,395,918$14,804,019$9,667,398$29,842,551
100$63,165,014$15,444,129$9,905,968$32,280,114