Can I retire at age 74 with 6,900,000?

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 $6,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$569,796$564,720$559,768$554,935$550,216$533,030
2 years$282,077$276,824$271,732$266,796$262,007$244,846
3 years$186,183$180,907$175,829$170,939$166,228$149,630
4 years$138,246$132,986$127,958$123,152$118,555$102,647
5 years$109,491$104,263$99,301$94,592$90,124$74,948
6 years$90,327$85,138$80,250$75,646$71,312$56,882
7 years$76,644$71,499$66,688$62,193$57,996$44,310
8 years$66,387$61,288$56,557$52,172$48,113$35,163
9 years$58,413$53,362$48,712$44,439$40,518$28,290
10 years$52,037$47,036$42,468$38,307$34,524$22,998
11 years$46,825$41,873$37,389$33,338$29,691$18,849
12 years$42,484$37,583$33,181$29,242$25,730$15,547
13 years$38,814$33,964$29,645$25,817$22,437$12,890
14 years$35,670$30,873$26,637$22,917$19,668$10,731
15 years$32,949$28,203$24,049$20,438$17,317$8,964
16 years$30,570$25,875$21,804$18,300$15,305$7,509
17 years$28,473$23,830$19,841$16,442$13,571$6,304
18 years$26,611$22,020$18,112$14,818$12,066$5,303
19 years$24,947$20,408$16,581$13,389$10,755$4,468
20 years$23,451$18,964$15,217$12,127$9,607$3,769
21 years$22,099$17,665$13,997$11,006$8,597$3,183
22 years$20,872$16,489$12,900$10,007$7,706$2,691
23 years$19,754$15,422$11,911$9,113$6,917$2,276
24 years$18,730$14,449$11,016$8,312$6,217$1,927
25 years$17,789$13,560$10,203$7,591$5,595$1,632
26 years$16,922$12,744$9,463$6,941$5,039$1,383
27 years$16,121$11,994$8,787$6,353$4,543$1,173
28 years$15,379$11,302$8,168$5,821$4,100$994
29 years$14,688$10,662$7,601$5,338$3,702$843
30 years$14,045$10,069$7,080$4,899$3,345$716
31 years$13,445$9,519$6,601$4,499$3,024$607
32 years$12,883$9,006$6,159$4,135$2,736$516
33 years$12,357$8,529$5,750$3,802$2,476$438
34 years$11,862$8,084$5,373$3,498$2,241$372
35 years$11,397$7,667$5,023$3,220$2,030$315
36 years$10,959$7,277$4,699$2,966$1,839$268
37 years$10,545$6,912$4,398$2,733$1,667$228
38 years$10,154$6,569$4,119$2,519$1,511$193
39 years$9,784$6,246$3,859$2,322$1,371$164
40 years$9,433$5,943$3,617$2,142$1,243$139
41 years$9,101$5,657$3,392$1,976$1,128$118
42 years$8,785$5,388$3,181$1,824$1,023$101
43 years$8,484$5,133$2,985$1,684$929$85
44 years$8,198$4,893$2,802$1,555$843$73
45 years$7,926$4,666$2,631$1,436$765$62
46 years$7,666$4,451$2,471$1,326$695$52
47 years$7,418$4,248$2,322$1,225$631$45
48 years$7,180$4,055$2,182$1,132$573$38
49 years$6,954$3,872$2,051$1,046$520$32
50 years$6,737$3,699$1,928$967$473$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $6,900,000, adding $5,255 every year, while hoping to spend $27,831 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: 59/27/14 Blend
73$6,900,000$6,900,000$6,900,000$6,900,000
74$7,609,221$7,243,521$7,136,571$8,031,112
75$8,355,749$7,568,841$7,346,034$8,641,674
76$9,177,491$7,909,170$7,561,581$9,303,606
77$10,082,088$8,265,212$7,783,387$10,024,767
78$11,077,961$8,637,708$8,011,631$10,810,868
79$12,174,390$9,027,433$8,246,498$11,668,189
80$13,381,599$9,435,198$8,488,176$12,603,634
81$14,710,854$9,861,854$8,736,862$13,624,798
82$16,174,569$10,308,293$8,992,755$14,740,034
83$17,786,424$10,775,449$9,256,061$15,958,531
84$19,561,493$11,264,299$9,526,993$17,290,397
85$21,516,386$11,775,871$9,805,768$18,746,754
86$23,669,406$12,311,237$10,092,610$20,339,839
87$26,040,723$12,871,524$10,387,749$22,083,118
88$28,652,560$13,457,912$10,691,422$23,991,409
89$31,529,408$14,071,637$11,003,872$26,081,021
90$34,698,255$14,713,995$11,325,349$28,369,904
91$38,188,839$15,386,343$11,656,110$30,877,814
92$42,033,931$16,090,103$11,996,420$33,626,501
93$46,269,641$16,826,768$12,346,550$36,639,905
94$50,935,764$17,597,899$12,706,779$39,944,381
95$56,076,150$18,405,134$13,077,394$43,568,946
96$61,739,121$19,250,189$13,458,690$47,545,547
97$67,977,926$20,134,863$13,850,971$51,909,358
98$74,851,243$21,061,040$14,254,547$56,699,110
99$82,423,736$22,030,697$14,669,740$61,957,452
100$90,766,659$23,045,903$15,096,878$67,731,346