Can I retire at age 74 with 7,400,000?

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 $7,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$611,085$605,642$600,331$595,148$590,086$587,353
2 years$302,517$296,883$291,423$286,129$280,994$278,234
3 years$199,675$194,016$188,570$183,325$178,274$175,574
4 years$148,264$142,623$137,231$132,076$127,146$124,528
5 years$117,425$111,818$106,497$101,447$96,655$94,124
6 years$96,873$91,308$86,065$81,128$76,480$74,040
7 years$82,198$76,680$71,520$66,700$62,198$59,852
8 years$71,197$65,729$60,655$55,953$51,600$49,346
9 years$62,646$57,229$52,242$47,659$43,454$41,293
10 years$55,808$50,444$45,546$41,083$37,025$34,956
11 years$50,218$44,908$40,098$35,754$31,843$29,864
12 years$45,562$40,307$35,586$31,361$27,594$25,704
13 years$41,626$36,426$31,794$27,687$24,063$22,259
14 years$38,255$33,110$28,567$24,578$21,093$19,374
15 years$35,336$30,246$25,792$21,919$18,572$16,936
16 years$32,785$27,751$23,384$19,626$16,414$14,858
17 years$30,536$25,557$21,279$17,634$14,554$13,076
18 years$28,539$23,616$19,425$15,892$12,941$11,538
19 years$26,754$21,887$17,782$14,360$11,534$10,205
20 years$25,150$20,339$16,320$13,005$10,303$9,044
21 years$23,701$18,945$15,011$11,803$9,220$8,029
22 years$22,385$17,684$13,835$10,732$8,264$7,139
23 years$21,185$16,540$12,774$9,774$7,418$6,356
24 years$20,087$15,496$11,814$8,914$6,668$5,666
25 years$19,078$14,543$10,942$8,141$6,000$5,056
26 years$18,149$13,668$10,148$7,444$5,405$4,516
27 years$17,289$12,863$9,423$6,813$4,873$4,037
28 years$16,493$12,121$8,760$6,242$4,397$3,611
29 years$15,753$11,434$8,152$5,724$3,970$3,232
30 years$15,063$10,799$7,594$5,254$3,587$2,895
31 years$14,419$10,208$7,079$4,825$3,243$2,594
32 years$13,817$9,659$6,605$4,434$2,934$2,326
33 years$13,252$9,147$6,167$4,078$2,655$2,086
34 years$12,722$8,670$5,762$3,752$2,404$1,872
35 years$12,223$8,223$5,387$3,454$2,177$1,680
36 years$11,753$7,805$5,040$3,181$1,973$1,508
37 years$11,309$7,413$4,717$2,931$1,788$1,354
38 years$10,890$7,045$4,417$2,701$1,621$1,217
39 years$10,493$6,699$4,139$2,491$1,470$1,093
40 years$10,117$6,373$3,879$2,297$1,333$982
41 years$9,760$6,067$3,637$2,120$1,210$883
42 years$9,421$5,778$3,412$1,956$1,098$793
43 years$9,099$5,505$3,202$1,806$996$713
44 years$8,792$5,248$3,005$1,667$904$641
45 years$8,500$5,004$2,822$1,540$821$577
46 years$8,221$4,774$2,650$1,422$745$519
47 years$7,955$4,556$2,490$1,314$677$466
48 years$7,701$4,349$2,340$1,214$615$420
49 years$7,458$4,153$2,199$1,122$558$377
50 years$7,225$3,967$2,068$1,037$507$339

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $7,400,000, adding $4,061 every year, while hoping to spend $41,476 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: 58/26/16 Blend
73$7,400,000$7,400,000$7,400,000$7,400,000
74$8,158,989$7,766,789$7,652,089$8,598,239
75$8,947,076$8,103,231$7,864,304$9,232,539
76$9,814,157$8,454,770$8,082,238$9,918,766
77$10,768,247$8,822,099$8,306,039$10,665,886
78$11,818,175$9,205,949$8,535,858$11,479,767
79$12,973,670$9,607,081$8,771,850$12,366,859
80$14,245,452$10,026,296$9,014,174$13,334,260
81$15,645,332$10,464,429$9,262,994$14,389,774
82$17,186,326$10,922,355$9,518,474$15,541,986
83$18,882,774$11,400,993$9,780,785$16,800,341
84$20,750,478$11,901,303$10,050,102$18,175,229
85$22,806,850$12,424,290$10,326,604$19,678,084
86$25,071,076$12,971,008$10,610,473$21,321,486
87$27,564,299$13,542,560$10,901,897$23,119,279
88$30,309,813$14,140,102$11,201,066$25,086,702
89$33,333,289$14,764,842$11,508,177$27,240,523
90$36,663,014$15,418,049$11,823,430$29,599,202
91$40,330,157$16,101,049$12,147,031$32,183,056
92$44,369,066$16,815,233$12,479,189$35,014,454
93$48,817,588$17,562,057$12,820,120$38,118,018
94$53,717,430$18,343,045$13,170,042$41,520,859
95$59,114,550$19,159,797$13,529,180$45,252,824
96$65,059,591$20,013,984$13,897,765$49,346,776
97$71,608,361$20,907,361$14,276,031$53,838,903
98$78,822,355$21,841,762$14,664,219$58,769,052
99$86,769,339$22,819,113$15,062,575$64,181,100
100$95,523,989$23,841,427$15,471,349$70,123,369