Can I retire at age 74 with 6,200,000?

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 $6,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$511,990$507,430$502,980$498,637$494,397$483,821
2 years$253,460$248,740$244,165$239,729$235,427$224,824
3 years$167,295$162,554$157,991$153,597$149,365$139,065
4 years$124,221$119,495$114,977$110,658$106,528$96,611
5 years$98,383$93,685$89,227$84,996$80,981$71,475
6 years$81,164$76,501$72,109$67,972$64,077$54,992
7 years$68,869$64,245$59,923$55,883$52,112$43,449
8 years$59,652$55,070$50,819$46,879$43,232$34,989
9 years$52,487$47,949$43,770$39,931$36,408$28,578
10 years$46,758$42,264$38,160$34,421$31,021$23,597
11 years$42,074$37,625$33,596$29,956$26,679$19,652
12 years$38,174$33,771$29,815$26,276$23,120$16,478
13 years$34,876$30,519$26,638$23,198$20,161$13,893
14 years$32,052$27,741$23,934$20,592$17,673$11,767
15 years$29,606$25,342$21,609$18,365$15,561$10,003
16 years$27,468$23,250$19,592$16,443$13,752$8,530
17 years$25,584$21,413$17,828$14,774$12,194$7,293
18 years$23,911$19,786$16,275$13,315$10,842$6,249
19 years$22,416$18,338$14,899$12,031$9,664$5,364
20 years$21,072$17,040$13,673$10,896$8,632$4,612
21 years$19,857$15,872$12,577$9,889$7,725$3,971
22 years$18,755$14,816$11,591$8,991$6,924$3,422
23 years$17,750$13,857$10,703$8,189$6,215$2,953
24 years$16,830$12,984$9,898$7,469$5,587$2,550
25 years$15,985$12,184$9,168$6,821$5,027$2,203
26 years$15,206$11,451$8,503$6,237$4,528$1,905
27 years$14,486$10,777$7,895$5,708$4,083$1,648
28 years$13,818$10,155$7,340$5,230$3,684$1,426
29 years$13,198$9,580$6,830$4,796$3,326$1,235
30 years$12,621$9,048$6,362$4,402$3,006$1,070
31 years$12,081$8,553$5,931$4,043$2,717$927
32 years$11,576$8,093$5,534$3,715$2,458$803
33 years$11,103$7,664$5,167$3,416$2,224$696
34 years$10,659$7,264$4,828$3,143$2,014$604
35 years$10,241$6,890$4,514$2,894$1,824$523
36 years$9,847$6,539$4,222$2,665$1,653$454
37 years$9,475$6,211$3,952$2,455$1,498$394
38 years$9,124$5,902$3,701$2,263$1,358$341
39 years$8,791$5,613$3,467$2,087$1,232$296
40 years$8,476$5,340$3,250$1,925$1,117$257
41 years$8,177$5,083$3,047$1,776$1,013$223
42 years$7,894$4,841$2,859$1,639$920$193
43 years$7,624$4,612$2,682$1,513$835$168
44 years$7,366$4,397$2,518$1,397$758$146
45 years$7,122$4,193$2,364$1,290$688$126
46 years$6,888$4,000$2,221$1,192$624$110
47 years$6,665$3,817$2,086$1,101$567$95
48 years$6,452$3,644$1,960$1,017$515$83
49 years$6,248$3,480$1,843$940$468$72
50 years$6,053$3,324$1,732$869$425$62

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $6,200,000, adding $3,239 every year, while hoping to spend $33,355 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: 41/32/27 Blend
73$6,200,000$6,200,000$6,200,000$6,200,000
74$6,835,741$6,507,141$6,411,041$7,061,588
75$7,497,497$6,790,501$6,590,321$7,508,313
76$8,225,634$7,086,629$6,774,490$7,988,169
77$9,026,889$7,396,113$6,963,675$8,506,947
78$9,908,681$7,719,573$7,158,008$9,068,245
79$10,879,190$8,057,655$7,357,624$9,676,011
80$11,947,425$8,411,037$7,562,662$10,334,583
81$13,123,314$8,780,430$7,773,263$11,048,726
82$14,417,798$9,166,577$7,989,573$11,823,671
83$15,842,930$9,570,256$8,211,741$12,665,168
84$17,411,993$9,992,282$8,439,918$13,579,535
85$19,139,622$10,433,510$8,674,261$14,573,714
86$21,041,945$10,894,833$8,914,930$15,655,338
87$23,136,732$11,377,189$9,162,090$16,832,795
88$25,443,566$11,881,559$9,415,907$18,115,310
89$27,984,024$12,408,969$9,676,554$19,513,024
90$30,781,883$12,960,497$9,944,207$21,037,092
91$33,863,343$13,537,270$10,219,046$22,699,779
92$37,257,276$14,140,468$10,501,256$24,514,579
93$40,995,496$14,771,329$10,791,026$26,496,334
94$45,113,061$15,431,148$11,088,550$28,661,373
95$49,648,603$16,121,284$11,394,025$31,027,661
96$54,644,690$16,843,157$11,707,655$33,614,967
97$60,148,235$17,598,258$12,029,648$36,445,044
98$66,210,930$18,388,147$12,360,216$39,541,831
99$72,889,737$19,214,459$12,699,576$42,931,675
100$80,247,430$20,078,908$13,047,952$46,643,575