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%19.1%
1 years$594,569$589,273$584,106$579,063$574,138$553,107
2 years$294,341$288,859$283,547$278,396$273,399$252,445
3 years$194,278$188,773$183,473$178,371$173,456$153,237
4 years$144,257$138,768$133,522$128,506$123,710$104,382
5 years$114,251$108,796$103,618$98,705$94,042$75,654
6 years$94,255$88,840$83,739$78,935$74,413$56,978
7 years$79,977$74,608$69,587$64,897$60,517$44,032
8 years$69,273$63,953$59,016$54,440$50,205$34,654
9 years$60,953$55,682$50,830$46,371$42,280$27,643
10 years$54,300$49,081$44,315$39,972$36,025$22,275
11 years$48,860$43,694$39,014$34,788$30,982$18,091
12 years$44,331$39,217$34,624$30,514$26,849$14,784
13 years$40,501$35,441$30,934$26,939$23,413$12,140
14 years$37,221$32,215$27,795$23,913$20,523$10,009
15 years$34,381$29,429$25,095$21,327$18,070$8,278
16 years$31,899$27,000$22,752$19,096$15,971$6,864
17 years$29,711$24,866$20,704$17,157$14,161$5,704
18 years$27,768$22,978$18,900$15,462$12,591$4,748
19 years$26,031$21,296$17,302$13,971$11,223$3,958
20 years$24,471$19,789$15,879$12,654$10,024$3,304
21 years$23,060$18,433$14,605$11,484$8,971$2,760
22 years$21,780$17,206$13,461$10,442$8,041$2,308
23 years$20,613$16,092$12,429$9,509$7,218$1,931
24 years$19,544$15,078$11,495$8,673$6,488$1,616
25 years$18,563$14,150$10,646$7,921$5,838$1,354
26 years$17,658$13,298$9,874$7,242$5,259$1,134
27 years$16,822$12,515$9,169$6,629$4,741$951
28 years$16,047$11,793$8,524$6,074$4,278$797
29 years$15,327$11,125$7,932$5,570$3,863$669
30 years$14,656$10,507$7,388$5,112$3,490$561
31 years$14,030$9,932$6,888$4,695$3,156$470
32 years$13,444$9,398$6,427$4,314$2,854$395
33 years$12,894$8,900$6,000$3,968$2,583$331
34 years$12,378$8,435$5,606$3,650$2,339$278
35 years$11,893$8,001$5,242$3,360$2,118$233
36 years$11,435$7,594$4,903$3,095$1,919$196
37 years$11,004$7,212$4,590$2,852$1,740$164
38 years$10,596$6,854$4,298$2,628$1,577$138
39 years$10,209$6,518$4,027$2,423$1,430$116
40 years$9,844$6,201$3,774$2,235$1,297$97
41 years$9,496$5,903$3,539$2,062$1,177$82
42 years$9,167$5,622$3,320$1,903$1,068$69
43 years$8,853$5,356$3,115$1,757$969$58
44 years$8,555$5,106$2,924$1,622$880$48
45 years$8,270$4,869$2,746$1,498$799$41
46 years$7,999$4,645$2,579$1,384$725$34
47 years$7,740$4,432$2,423$1,279$658$29
48 years$7,493$4,231$2,277$1,181$598$24
49 years$7,256$4,041$2,140$1,092$543$20
50 years$7,030$3,860$2,012$1,009$493$17

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 $5,142 every year, while hoping to spend $23,457 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: 63/15/22 Blend
73$7,200,000$7,200,000$7,200,000$7,200,000
74$7,939,704$7,558,104$7,446,504$8,394,179
75$8,724,596$7,903,493$7,671,004$9,046,880
76$9,588,760$8,265,020$7,902,238$9,756,359
77$10,540,259$8,643,451$8,140,408$10,530,709
78$11,587,973$9,039,588$8,385,720$11,376,270
79$12,741,692$9,454,273$8,638,387$12,300,019
80$14,012,200$9,888,388$8,898,628$13,309,631
81$15,411,382$10,342,857$9,166,670$14,413,555
82$16,952,333$10,818,647$9,442,744$15,621,087
83$18,649,485$11,316,774$9,727,089$16,942,460
84$20,518,738$11,838,303$10,019,953$18,388,939
85$22,577,617$12,384,346$10,321,588$19,972,920
86$24,845,428$12,956,074$10,632,256$21,708,054
87$27,343,451$13,554,710$10,952,226$23,609,365
88$30,095,131$14,181,539$11,281,773$25,693,398
89$33,126,306$14,837,906$11,621,184$27,978,365
90$36,465,447$15,525,222$11,970,752$30,484,324
91$40,143,929$16,244,964$12,330,778$33,233,356
92$44,196,325$16,998,682$12,701,574$36,249,780
93$48,660,733$17,788,000$13,083,460$39,560,373
94$53,579,136$18,614,621$13,476,765$43,194,627
95$58,997,800$19,480,329$13,881,828$47,185,019
96$64,967,705$20,386,995$14,298,999$51,567,317
97$71,545,033$21,336,580$14,728,638$56,380,916
98$78,791,693$22,331,139$15,171,114$61,669,204
99$86,775,908$23,372,827$15,626,808$67,479,973
100$95,572,858$24,463,903$16,096,113$73,865,861