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%13.3%
1 years$578,053$572,904$567,881$562,978$558,190$550,530
2 years$286,165$280,836$275,670$270,662$265,805$258,101
3 years$188,882$183,529$178,377$173,416$168,637$161,130
4 years$140,249$134,913$129,813$124,936$120,274$113,020
5 years$111,078$105,774$100,740$95,963$91,430$84,451
6 years$91,636$86,372$81,413$76,743$72,346$65,649
7 years$77,755$72,535$67,655$63,094$58,836$52,425
8 years$67,349$62,176$57,376$52,928$48,810$42,683
9 years$59,259$54,135$49,418$45,083$41,105$35,260
10 years$52,792$47,718$43,084$38,862$35,024$29,456
11 years$47,503$42,480$37,930$33,822$30,122$24,826
12 years$43,099$38,128$33,662$29,666$26,103$21,073
13 years$39,376$34,457$30,075$26,191$22,762$17,991
14 years$36,187$31,320$27,023$23,249$19,953$15,434
15 years$33,426$28,611$24,398$20,734$17,568$13,293
16 years$31,013$26,250$22,120$18,565$15,527$11,488
17 years$28,885$24,176$20,128$16,681$13,767$9,956
18 years$26,996$22,339$18,375$15,033$12,241$8,649
19 years$25,308$20,704$16,821$13,583$10,911$7,530
20 years$23,791$19,239$15,438$12,302$9,746$6,567
21 years$22,420$17,921$14,200$11,165$8,721$5,735
22 years$21,175$16,728$13,087$10,152$7,817$5,016
23 years$20,040$15,645$12,084$9,245$7,017$4,392
24 years$19,001$14,659$11,175$8,432$6,307$3,849
25 years$18,047$13,757$10,351$7,701$5,676$3,376
26 years$17,168$12,929$9,600$7,041$5,112$2,964
27 years$16,355$12,168$8,914$6,445$4,609$2,604
28 years$15,601$11,466$8,287$5,905$4,159$2,289
29 years$14,901$10,816$7,712$5,415$3,756$2,013
30 years$14,249$10,215$7,183$4,970$3,393$1,771
31 years$13,640$9,657$6,697$4,564$3,068$1,558
32 years$13,070$9,137$6,248$4,195$2,775$1,372
33 years$12,536$8,653$5,834$3,857$2,512$1,208
34 years$12,034$8,201$5,451$3,549$2,274$1,064
35 years$11,562$7,779$5,096$3,267$2,060$938
36 years$11,118$7,383$4,767$3,009$1,866$826
37 years$10,698$7,012$4,462$2,772$1,691$728
38 years$10,301$6,664$4,179$2,555$1,533$642
39 years$9,926$6,337$3,915$2,356$1,390$566
40 years$9,570$6,029$3,669$2,173$1,261$499
41 years$9,233$5,739$3,441$2,005$1,144$440
42 years$8,912$5,466$3,228$1,850$1,038$388
43 years$8,607$5,208$3,029$1,708$942$343
44 years$8,317$4,964$2,843$1,577$855$302
45 years$8,041$4,734$2,669$1,457$776$267
46 years$7,777$4,516$2,507$1,345$705$235
47 years$7,525$4,309$2,355$1,243$640$208
48 years$7,285$4,114$2,213$1,149$581$183
49 years$7,055$3,928$2,080$1,062$528$162
50 years$6,834$3,753$1,956$981$480$143

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 $2,594 every year, while hoping to spend $55,216 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: 61/21/18 Blend
73$7,000,000$7,000,000$7,000,000$7,000,000
74$7,716,676$7,345,676$7,237,176$8,151,604
75$8,445,027$7,646,864$7,420,872$8,746,563
76$9,245,820$7,960,961$7,608,871$9,389,183
77$10,126,385$8,288,539$7,801,259$10,089,218
78$11,094,798$8,630,199$7,998,123$10,852,247
79$12,159,958$8,986,570$8,199,552$11,684,405
80$13,331,670$9,358,308$8,405,633$12,592,445
81$14,620,736$9,746,100$8,616,456$13,583,796
82$16,039,056$10,150,665$8,832,113$14,666,635
83$17,599,747$10,572,754$9,052,696$15,849,960
84$19,317,256$11,013,154$9,278,296$17,143,674
85$21,207,504$11,472,687$9,509,007$18,558,679
86$23,288,034$11,952,213$9,744,924$20,106,974
87$25,578,176$12,452,633$9,986,140$21,801,768
88$28,099,226$12,974,889$10,232,753$23,657,605
89$30,874,655$13,519,966$10,484,857$25,690,495
90$33,930,320$14,088,895$10,742,550$27,918,066
91$37,294,716$14,682,754$11,005,929$30,359,730
92$40,999,241$15,302,673$11,275,092$33,036,859
93$45,078,492$15,949,833$11,550,136$35,972,988
94$49,570,593$16,625,469$11,831,160$39,194,037
95$54,517,552$17,330,875$12,118,262$42,728,547
96$59,965,659$18,067,406$12,411,542$46,607,953
97$65,965,924$18,836,476$12,711,096$50,866,875
98$72,574,555$19,639,570$13,017,024$55,543,442
99$79,853,490$20,478,239$13,329,424$60,679,650
100$87,870,980$21,354,107$13,648,394$66,321,756