Can I retire at age 74 with 7,100,000?

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 $7,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$586,311$581,089$575,993$571,020$566,164$544,993
2 years$290,253$284,847$279,608$274,529$269,602$248,515
3 years$191,580$186,151$180,925$175,893$171,047$150,707
4 years$142,253$136,841$131,667$126,721$121,992$102,554
5 years$112,665$107,285$102,179$97,334$92,736$74,251
6 years$92,945$87,606$82,576$77,839$73,379$55,860
7 years$78,866$73,571$68,621$63,996$59,677$43,119
8 years$68,311$63,064$58,196$53,684$49,508$33,895
9 years$60,106$54,909$50,124$45,727$41,693$27,004
10 years$53,546$48,399$43,699$39,417$35,524$21,733
11 years$48,182$43,087$38,472$34,305$30,552$17,628
12 years$43,715$38,673$34,143$30,090$26,476$14,386
13 years$39,939$34,949$30,505$26,565$23,087$11,797
14 years$36,704$31,768$27,409$23,581$20,238$9,713
15 years$33,904$29,020$24,746$21,030$17,819$8,022
16 years$31,456$26,625$22,436$18,830$15,749$6,642
17 years$29,298$24,521$20,416$16,919$13,964$5,511
18 years$27,382$22,659$18,637$15,247$12,416$4,581
19 years$25,670$21,000$17,061$13,777$11,067$3,813
20 years$24,131$19,514$15,658$12,478$9,885$3,177
21 years$22,740$18,177$14,402$11,325$8,846$2,650
22 years$21,477$16,967$13,274$10,297$7,929$2,213
23 years$20,326$15,869$12,256$9,377$7,118$1,848
24 years$19,273$14,868$11,335$8,553$6,398$1,545
25 years$18,305$13,953$10,498$7,811$5,757$1,292
26 years$17,413$13,114$9,737$7,142$5,186$1,081
27 years$16,589$12,341$9,041$6,537$4,675$904
28 years$15,824$11,629$8,405$5,989$4,218$757
29 years$15,114$10,971$7,822$5,492$3,809$634
30 years$14,453$10,361$7,286$5,041$3,442$531
31 years$13,835$9,794$6,792$4,629$3,112$445
32 years$13,257$9,268$6,337$4,255$2,815$372
33 years$12,715$8,777$5,917$3,912$2,547$312
34 years$12,206$8,318$5,529$3,600$2,306$261
35 years$11,728$7,890$5,169$3,314$2,089$219
36 years$11,276$7,488$4,835$3,052$1,893$184
37 years$10,851$7,112$4,526$2,812$1,715$154
38 years$10,448$6,759$4,238$2,592$1,555$129
39 years$10,068$6,427$3,971$2,390$1,410$108
40 years$9,707$6,115$3,722$2,204$1,279$91
41 years$9,364$5,821$3,490$2,034$1,161$76
42 years$9,039$5,544$3,274$1,877$1,053$64
43 years$8,730$5,282$3,072$1,733$956$53
44 years$8,436$5,035$2,883$1,600$867$45
45 years$8,155$4,801$2,707$1,477$788$37
46 years$7,888$4,580$2,543$1,365$715$31
47 years$7,633$4,371$2,389$1,261$649$26
48 years$7,389$4,173$2,245$1,165$590$22
49 years$7,155$3,985$2,110$1,077$536$18
50 years$6,932$3,806$1,984$995$486$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $7,100,000, adding $5,349 every year, while hoping to spend $47,483 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: 48/26/26 Blend
73$7,100,000$7,100,000$7,100,000$7,100,000
74$7,829,717$7,453,417$7,343,367$8,147,300
75$8,577,827$7,768,113$7,538,849$8,685,324
76$9,400,653$8,096,638$7,739,287$9,264,139
77$10,305,765$8,439,619$7,944,799$9,891,791
78$11,301,505$8,797,712$8,155,502$10,572,901
79$12,397,064$9,171,606$8,371,517$11,312,552
80$13,602,568$9,562,018$8,592,966$12,116,329
81$14,929,176$9,969,703$8,819,976$12,990,374
82$16,389,180$10,395,447$9,052,674$13,941,439
83$17,996,128$10,840,075$9,291,190$14,976,949
84$19,764,945$11,304,451$9,535,657$16,105,070
85$21,712,078$11,789,477$9,786,209$17,334,785
86$23,855,647$12,296,099$10,042,985$18,675,975
87$26,215,623$12,825,307$10,306,125$20,139,510
88$28,814,007$13,378,138$10,575,770$21,737,349
89$31,675,044$13,955,675$10,852,067$23,482,653
90$34,825,451$14,559,056$11,135,164$25,389,901
91$38,294,665$15,189,467$11,425,210$27,475,032
92$42,115,124$15,848,155$11,722,358$29,755,584
93$46,322,575$16,536,422$12,026,765$32,250,862
94$50,956,404$17,255,634$12,338,588$34,982,115
95$56,060,015$18,007,217$12,657,988$37,972,736
96$61,681,235$18,792,669$12,985,130$41,248,476
97$67,872,767$19,613,556$13,320,177$44,837,683
98$74,692,687$20,471,518$13,663,301$48,771,570
99$82,204,991$21,368,272$14,014,671$53,084,505
100$90,480,199$22,305,617$14,374,463$57,814,326