Can I retire at age 74 with 7,000,000?

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 $7,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$578,053$572,904$567,881$562,978$558,190$550,986
2 years$286,165$280,836$275,670$270,662$265,805$258,558
3 years$188,882$183,529$178,377$173,416$168,637$161,572
4 years$140,249$134,913$129,813$124,936$120,274$113,444
5 years$111,078$105,774$100,740$95,963$91,430$84,857
6 years$91,636$86,372$81,413$76,743$72,346$66,036
7 years$77,755$72,535$67,655$63,094$58,836$52,793
8 years$67,349$62,176$57,376$52,928$48,810$43,032
9 years$59,259$54,135$49,418$45,083$41,105$35,590
10 years$52,792$47,718$43,084$38,862$35,024$29,768
11 years$47,503$42,480$37,930$33,822$30,122$25,120
12 years$43,099$38,128$33,662$29,666$26,103$21,350
13 years$39,376$34,457$30,075$26,191$22,762$18,252
14 years$36,187$31,320$27,023$23,249$19,953$15,678
15 years$33,426$28,611$24,398$20,734$17,568$13,522
16 years$31,013$26,250$22,120$18,565$15,527$11,702
17 years$28,885$24,176$20,128$16,681$13,767$10,156
18 years$26,996$22,339$18,375$15,033$12,241$8,836
19 years$25,308$20,704$16,821$13,583$10,911$7,703
20 years$23,791$19,239$15,438$12,302$9,746$6,728
21 years$22,420$17,921$14,200$11,165$8,721$5,885
22 years$21,175$16,728$13,087$10,152$7,817$5,155
23 years$20,040$15,645$12,084$9,245$7,017$4,520
24 years$19,001$14,659$11,175$8,432$6,307$3,968
25 years$18,047$13,757$10,351$7,701$5,676$3,486
26 years$17,168$12,929$9,600$7,041$5,112$3,065
27 years$16,355$12,168$8,914$6,445$4,609$2,697
28 years$15,601$11,466$8,287$5,905$4,159$2,374
29 years$14,901$10,816$7,712$5,415$3,756$2,091
30 years$14,249$10,215$7,183$4,970$3,393$1,843
31 years$13,640$9,657$6,697$4,564$3,068$1,625
32 years$13,070$9,137$6,248$4,195$2,775$1,433
33 years$12,536$8,653$5,834$3,857$2,512$1,264
34 years$12,034$8,201$5,451$3,549$2,274$1,115
35 years$11,562$7,779$5,096$3,267$2,060$984
36 years$11,118$7,383$4,767$3,009$1,866$869
37 years$10,698$7,012$4,462$2,772$1,691$767
38 years$10,301$6,664$4,179$2,555$1,533$677
39 years$9,926$6,337$3,915$2,356$1,390$598
40 years$9,570$6,029$3,669$2,173$1,261$529
41 years$9,233$5,739$3,441$2,005$1,144$467
42 years$8,912$5,466$3,228$1,850$1,038$413
43 years$8,607$5,208$3,029$1,708$942$365
44 years$8,317$4,964$2,843$1,577$855$322
45 years$8,041$4,734$2,669$1,457$776$285
46 years$7,777$4,516$2,507$1,345$705$252
47 years$7,525$4,309$2,355$1,243$640$222
48 years$7,285$4,114$2,213$1,149$581$197
49 years$7,055$3,928$2,080$1,062$528$174
50 years$6,834$3,753$1,956$981$480$154

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $7,000,000, adding $5,433 every year, while hoping to spend $38,517 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: 81/9/10 Blend
73$7,000,000$7,000,000$7,000,000$7,000,000
74$7,719,604$7,348,604$7,240,104$8,332,213
75$8,466,022$7,667,704$7,441,666$9,053,649
76$9,287,283$8,001,149$7,648,689$9,839,716
77$10,190,982$8,349,601$7,861,316$10,701,368
78$11,185,484$8,713,753$8,079,692$11,646,154
79$12,280,009$9,094,333$8,303,967$12,682,386
80$13,484,714$9,492,099$8,534,294$13,819,219
81$14,810,791$9,907,848$8,770,829$15,066,735
82$16,270,574$10,342,414$9,013,733$16,436,038
83$17,877,650$10,796,670$9,263,171$17,939,357
84$19,646,993$11,271,530$9,519,310$19,590,161
85$21,595,103$11,767,951$9,782,324$21,403,287
86$23,740,160$12,286,937$10,052,388$23,395,075
87$26,102,196$12,829,538$10,329,683$25,583,526
88$28,703,288$13,396,853$10,614,395$27,988,467
89$31,567,759$13,990,034$10,906,713$30,631,738
90$34,722,413$14,610,288$11,206,830$33,537,401
91$38,196,786$15,258,879$11,514,946$36,731,959
92$42,023,425$15,937,131$11,831,264$40,244,610
93$46,238,194$16,646,430$12,155,991$44,107,520
94$50,880,613$17,388,229$12,489,340$48,356,125
95$55,994,232$18,164,048$12,831,529$53,029,465
96$61,627,039$18,975,482$13,182,781$58,170,548
97$67,831,917$19,824,201$13,543,324$63,826,759
98$74,667,139$20,711,953$13,913,392$70,050,305
99$82,196,918$21,640,570$14,293,222$76,898,701
100$90,492,018$22,611,972$14,683,059$84,435,318