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

Use the below retirement simulation to view the chances of a successful retirement.
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%18%
1 years$594,569$589,273$584,106$579,063$574,138$555,537
2 years$294,341$288,859$283,547$278,396$273,399$254,834
3 years$194,278$188,773$183,473$178,371$173,456$155,508
4 years$144,257$138,768$133,522$128,506$123,710$106,518
5 years$114,251$108,796$103,618$98,705$94,042$77,652
6 years$94,255$88,840$83,739$78,935$74,413$58,837
7 years$79,977$74,608$69,587$64,897$60,517$45,755
8 years$69,273$63,953$59,016$54,440$50,205$36,246
9 years$60,953$55,682$50,830$46,371$42,280$29,107
10 years$54,300$49,081$44,315$39,972$36,025$23,618
11 years$48,860$43,694$39,014$34,788$30,982$19,320
12 years$44,331$39,217$34,624$30,514$26,849$15,904
13 years$40,501$35,441$30,934$26,939$23,413$13,159
14 years$37,221$32,215$27,795$23,913$20,523$10,932
15 years$34,381$29,429$25,095$21,327$18,070$9,112
16 years$31,899$27,000$22,752$19,096$15,971$7,616
17 years$29,711$24,866$20,704$17,157$14,161$6,380
18 years$27,768$22,978$18,900$15,462$12,591$5,355
19 years$26,031$21,296$17,302$13,971$11,223$4,501
20 years$24,471$19,789$15,879$12,654$10,024$3,789
21 years$23,060$18,433$14,605$11,484$8,971$3,192
22 years$21,780$17,206$13,461$10,442$8,041$2,692
23 years$20,613$16,092$12,429$9,509$7,218$2,272
24 years$19,544$15,078$11,495$8,673$6,488$1,919
25 years$18,563$14,150$10,646$7,921$5,838$1,622
26 years$17,658$13,298$9,874$7,242$5,259$1,371
27 years$16,822$12,515$9,169$6,629$4,741$1,159
28 years$16,047$11,793$8,524$6,074$4,278$981
29 years$15,327$11,125$7,932$5,570$3,863$830
30 years$14,656$10,507$7,388$5,112$3,490$702
31 years$14,030$9,932$6,888$4,695$3,156$595
32 years$13,444$9,398$6,427$4,314$2,854$503
33 years$12,894$8,900$6,000$3,968$2,583$426
34 years$12,378$8,435$5,606$3,650$2,339$361
35 years$11,893$8,001$5,242$3,360$2,118$306
36 years$11,435$7,594$4,903$3,095$1,919$259
37 years$11,004$7,212$4,590$2,852$1,740$219
38 years$10,596$6,854$4,298$2,628$1,577$186
39 years$10,209$6,518$4,027$2,423$1,430$157
40 years$9,844$6,201$3,774$2,235$1,297$133
41 years$9,496$5,903$3,539$2,062$1,177$113
42 years$9,167$5,622$3,320$1,903$1,068$96
43 years$8,853$5,356$3,115$1,757$969$81
44 years$8,555$5,106$2,924$1,622$880$69
45 years$8,270$4,869$2,746$1,498$799$58
46 years$7,999$4,645$2,579$1,384$725$49
47 years$7,740$4,432$2,423$1,279$658$42
48 years$7,493$4,231$2,277$1,181$598$35
49 years$7,256$4,041$2,140$1,092$543$30
50 years$7,030$3,860$2,012$1,009$493$25

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 $2,748 every year, while hoping to spend $37,908 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: 38/34/28 Blend
73$7,200,000$7,200,000$7,200,000$7,200,000
74$7,937,235$7,555,635$7,444,035$8,172,560
75$8,706,499$7,885,527$7,653,076$8,675,646
76$9,552,957$8,230,313$7,867,850$9,215,314
77$10,484,444$8,590,684$8,088,508$9,797,852
78$11,509,591$8,967,361$8,315,206$10,427,178
79$12,637,908$9,361,100$8,548,104$11,107,590
80$13,879,875$9,772,695$8,787,366$11,843,806
81$15,247,039$10,202,974$9,033,160$12,641,007
82$16,752,124$10,652,806$9,285,658$13,504,880
83$18,409,148$11,123,102$9,545,035$14,441,672
84$20,233,561$11,614,813$9,811,474$15,458,245
85$22,242,384$12,128,939$10,085,158$16,562,135
86$24,454,375$12,666,525$10,366,278$17,761,627
87$26,890,202$13,228,665$10,655,029$19,065,821
88$29,572,640$13,816,507$10,951,610$20,484,723
89$32,526,785$14,431,252$11,256,225$22,029,328
90$35,780,292$15,074,157$11,569,083$23,711,727
91$39,363,633$15,746,542$11,890,398$25,545,213
92$43,310,388$16,449,787$12,220,391$27,544,404
93$47,657,559$17,185,339$12,559,286$29,725,376
94$52,445,922$17,954,712$12,907,314$32,105,812
95$57,720,407$18,759,494$13,264,710$34,705,161
96$63,530,527$19,601,348$13,631,717$37,544,820
97$69,930,843$20,482,016$14,008,581$40,648,330
98$76,981,477$21,403,323$14,395,557$44,041,593
99$84,748,684$22,367,182$14,792,904$47,753,110
100$93,305,470$23,375,595$15,200,887$51,814,246