Can I retire at age 74 with 8,200,000?

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 $8,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$677,148$671,117$665,232$659,488$653,880$641,991
2 years$335,222$328,979$322,928$317,062$311,371$299,436
3 years$221,261$214,991$208,956$203,144$197,547$185,937
4 years$164,292$158,041$152,066$146,354$140,892$129,697
5 years$130,120$123,906$118,010$112,414$107,104$96,356
6 years$107,345$101,179$95,369$89,898$84,748$74,458
7 years$91,085$84,970$79,252$73,910$68,922$59,095
8 years$78,894$72,835$67,212$62,002$57,178$47,809
9 years$69,418$63,416$57,890$52,812$48,152$39,237
10 years$61,842$55,898$50,470$45,524$41,028$32,559
11 years$55,647$49,763$44,433$39,620$35,285$27,252
12 years$50,488$44,664$39,433$34,752$30,578$22,970
13 years$46,126$40,363$35,231$30,681$26,664$19,469
14 years$42,391$36,689$31,655$27,235$23,374$16,579
15 years$39,156$33,516$28,580$24,289$20,580$14,172
16 years$36,329$30,751$25,912$21,748$18,189$12,154
17 years$33,837$28,320$23,579$19,540$16,127$10,451
18 years$31,624$26,169$21,525$17,610$14,340$9,007
19 years$29,647$24,253$19,705$15,912$12,781$7,778
20 years$27,869$22,537$18,084$14,411$11,416$6,728
21 years$26,263$20,993$16,634$13,079$10,216$5,828
22 years$24,805$19,596$15,331$11,892$9,158$5,054
23 years$23,475$18,328$14,155$10,830$8,220$4,388
24 years$22,259$17,172$13,091$9,878$7,389$3,813
25 years$21,141$16,115$12,125$9,021$6,649$3,315
26 years$20,111$15,145$11,245$8,248$5,989$2,885
27 years$19,159$14,254$10,442$7,550$5,400$2,512
28 years$18,276$13,431$9,707$6,917$4,872$2,188
29 years$17,456$12,671$9,034$6,343$4,399$1,907
30 years$16,692$11,966$8,414$5,822$3,975$1,663
31 years$15,978$11,312$7,845$5,347$3,594$1,450
32 years$15,311$10,703$7,319$4,914$3,251$1,265
33 years$14,685$10,136$6,834$4,519$2,942$1,104
34 years$14,097$9,607$6,385$4,157$2,664$964
35 years$13,544$9,112$5,970$3,827$2,413$841
36 years$13,023$8,649$5,585$3,525$2,186$734
37 years$12,532$8,214$5,227$3,248$1,981$641
38 years$12,067$7,806$4,895$2,993$1,796$560
39 years$11,627$7,423$4,586$2,760$1,629$489
40 years$11,211$7,062$4,298$2,546$1,477$427
41 years$10,815$6,723$4,031$2,349$1,340$373
42 years$10,440$6,403$3,781$2,168$1,216$326
43 years$10,083$6,100$3,548$2,001$1,104$285
44 years$9,743$5,815$3,330$1,848$1,002$249
45 years$9,419$5,545$3,127$1,706$910$218
46 years$9,110$5,290$2,937$1,576$826$190
47 years$8,815$5,048$2,759$1,456$750$166
48 years$8,533$4,819$2,593$1,346$681$145
49 years$8,264$4,602$2,437$1,244$619$127
50 years$8,006$4,396$2,291$1,149$562$111

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $8,200,000, adding $5,351 every year, while hoping to spend $27,909 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: 43/47/10 Blend
73$8,200,000$8,200,000$8,200,000$8,200,000
74$9,041,920$8,607,320$8,480,220$9,404,314
75$9,934,500$8,999,383$8,734,612$10,049,336
76$10,917,189$9,409,723$8,996,591$10,744,444
77$11,999,147$9,839,204$9,266,382$11,496,838
78$13,190,470$10,288,734$9,544,215$12,311,774
79$14,502,281$10,759,265$9,830,329$13,195,017
80$15,946,837$11,251,793$10,124,969$14,152,891
81$17,537,646$11,767,363$10,428,387$15,192,338
82$19,289,591$12,307,069$10,740,843$16,320,977
83$21,219,072$12,872,058$11,062,604$17,547,174
84$23,344,162$13,463,533$11,393,946$18,880,112
85$25,684,774$14,082,753$11,735,150$20,329,879
86$28,262,853$14,731,040$12,086,510$21,907,555
87$31,102,580$15,409,777$12,448,324$23,625,312
88$34,230,602$16,120,416$12,820,902$25,496,523
89$37,676,283$16,864,475$13,204,562$27,535,887
90$41,471,979$17,643,550$13,599,630$29,759,554
91$45,653,346$18,459,309$14,006,443$32,185,280
92$50,259,677$19,313,505$14,425,348$34,832,581
93$55,334,269$20,207,971$14,856,702$37,722,918
94$60,924,834$21,144,632$15,300,871$40,879,885
95$67,083,951$22,125,502$15,758,234$44,329,429
96$73,869,558$23,152,696$16,229,179$48,100,089
97$81,345,503$24,228,429$16,714,107$52,223,252
98$89,582,144$25,355,022$17,213,430$56,733,446
99$98,657,014$26,534,908$17,727,570$61,668,653
100$108,655,551$27,770,641$18,256,965$67,070,665