Can I retire at age 74 with 7,200,000?

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 $7,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$594,569$589,273$584,106$579,063$574,138$556,875
2 years$294,341$288,859$283,547$278,396$273,399$256,152
3 years$194,278$188,773$183,473$178,371$173,456$156,766
4 years$144,257$138,768$133,522$128,506$123,710$107,705
5 years$114,251$108,796$103,618$98,705$94,042$78,766
6 years$94,255$88,840$83,739$78,935$74,413$59,878
7 years$79,977$74,608$69,587$64,897$60,517$46,724
8 years$69,273$63,953$59,016$54,440$50,205$37,144
9 years$60,953$55,682$50,830$46,371$42,280$29,938
10 years$54,300$49,081$44,315$39,972$36,025$24,384
11 years$48,860$43,694$39,014$34,788$30,982$20,023
12 years$44,331$39,217$34,624$30,514$26,849$16,549
13 years$40,501$35,441$30,934$26,939$23,413$13,748
14 years$37,221$32,215$27,795$23,913$20,523$11,469
15 years$34,381$29,429$25,095$21,327$18,070$9,601
16 years$31,899$27,000$22,752$19,096$15,971$8,060
17 years$29,711$24,866$20,704$17,157$14,161$6,782
18 years$27,768$22,978$18,900$15,462$12,591$5,717
19 years$26,031$21,296$17,302$13,971$11,223$4,828
20 years$24,471$19,789$15,879$12,654$10,024$4,082
21 years$23,060$18,433$14,605$11,484$8,971$3,455
22 years$21,780$17,206$13,461$10,442$8,041$2,928
23 years$20,613$16,092$12,429$9,509$7,218$2,483
24 years$19,544$15,078$11,495$8,673$6,488$2,107
25 years$18,563$14,150$10,646$7,921$5,838$1,789
26 years$17,658$13,298$9,874$7,242$5,259$1,519
27 years$16,822$12,515$9,169$6,629$4,741$1,291
28 years$16,047$11,793$8,524$6,074$4,278$1,098
29 years$15,327$11,125$7,932$5,570$3,863$933
30 years$14,656$10,507$7,388$5,112$3,490$794
31 years$14,030$9,932$6,888$4,695$3,156$675
32 years$13,444$9,398$6,427$4,314$2,854$575
33 years$12,894$8,900$6,000$3,968$2,583$489
34 years$12,378$8,435$5,606$3,650$2,339$416
35 years$11,893$8,001$5,242$3,360$2,118$354
36 years$11,435$7,594$4,903$3,095$1,919$302
37 years$11,004$7,212$4,590$2,852$1,740$257
38 years$10,596$6,854$4,298$2,628$1,577$219
39 years$10,209$6,518$4,027$2,423$1,430$186
40 years$9,844$6,201$3,774$2,235$1,297$159
41 years$9,496$5,903$3,539$2,062$1,177$135
42 years$9,167$5,622$3,320$1,903$1,068$115
43 years$8,853$5,356$3,115$1,757$969$98
44 years$8,555$5,106$2,924$1,622$880$83
45 years$8,270$4,869$2,746$1,498$799$71
46 years$7,999$4,645$2,579$1,384$725$61
47 years$7,740$4,432$2,423$1,279$658$52
48 years$7,493$4,231$2,277$1,181$598$44
49 years$7,256$4,041$2,140$1,092$543$37
50 years$7,030$3,860$2,012$1,009$493$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $7,200,000, adding $2,129 every year, while hoping to spend $48,994 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: 59/13/28 Blend
73$7,200,000$7,200,000$7,200,000$7,200,000
74$7,936,596$7,554,996$7,443,396$8,344,294
75$8,694,000$7,873,062$7,640,621$8,941,315
76$9,527,016$8,205,070$7,842,810$9,586,836
77$10,443,307$8,551,654$8,050,079$10,289,962
78$11,451,312$8,913,472$8,262,545$11,056,303
79$12,560,331$9,291,218$8,480,325$11,892,037
80$13,780,612$9,685,614$8,703,543$12,803,959
81$15,123,443$10,097,419$8,932,321$13,799,548
82$16,601,266$10,527,423$9,166,785$14,887,038
83$18,227,786$10,976,458$9,407,063$16,075,490
84$20,018,106$11,445,391$9,653,286$17,374,881
85$21,988,869$11,935,131$9,905,587$18,796,193
86$24,158,410$12,446,629$10,164,100$20,351,516
87$26,546,934$12,980,880$10,428,965$22,054,165
88$29,176,706$13,538,928$10,700,319$23,918,797
89$32,072,257$14,121,862$10,978,307$25,961,551
90$35,260,619$14,730,826$11,263,072$28,200,203
91$38,771,580$15,367,013$11,554,762$30,654,324
92$42,637,961$16,031,677$11,853,527$33,345,469
93$46,895,931$16,726,128$12,159,518$36,297,377
94$51,585,345$17,451,736$12,472,890$39,536,193
95$56,750,118$18,209,939$12,793,801$43,090,711
96$62,438,645$19,002,241$13,122,408$46,992,648
97$68,704,252$19,830,217$13,458,874$51,276,937
98$75,605,703$20,695,514$13,803,363$55,982,058
99$83,207,750$21,599,860$14,156,041$61,150,395
100$91,581,749$22,545,062$14,517,077$66,828,638