Can I retire at age 74 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$685,406$679,301$673,344$667,531$661,854$657,958
2 years$339,310$332,991$326,866$320,928$315,168$311,239
3 years$223,960$217,613$211,504$205,622$199,956$196,113
4 years$166,296$159,969$153,921$148,139$142,610$138,884
5 years$131,707$125,417$119,449$113,785$108,410$104,812
6 years$108,655$102,413$96,532$90,995$85,781$82,315
7 years$92,195$86,006$80,219$74,812$69,763$66,431
8 years$79,857$73,723$68,032$62,758$57,875$54,677
9 years$70,265$64,189$58,596$53,456$48,739$45,675
10 years$62,596$56,580$51,085$46,079$41,528$38,596
11 years$56,325$50,370$44,975$40,103$35,716$32,913
12 years$51,104$45,209$39,914$35,176$30,950$28,275
13 years$46,689$40,856$35,660$31,055$26,989$24,439
14 years$42,908$37,137$32,041$27,567$23,659$21,230
15 years$39,634$33,925$28,929$24,585$20,831$18,521
16 years$36,772$31,126$26,228$22,013$18,411$16,216
17 years$34,250$28,665$23,867$19,779$16,324$14,241
18 years$32,010$26,488$21,787$17,824$14,515$12,540
19 years$30,008$24,549$19,945$16,106$12,937$11,068
20 years$28,209$22,812$18,305$14,587$11,556$9,787
21 years$26,583$21,249$16,837$13,239$10,341$8,670
22 years$25,107$19,835$15,518$12,037$9,269$7,692
23 years$23,762$18,551$14,328$10,962$8,321$6,833
24 years$22,530$17,381$13,251$9,998$7,479$6,077
25 years$21,399$16,311$12,273$9,131$6,730$5,410
26 years$20,356$15,330$11,382$8,349$6,062$4,821
27 years$19,392$14,427$10,570$7,642$5,465$4,299
28 years$18,499$13,595$9,826$7,002$4,931$3,837
29 years$17,669$12,825$9,144$6,421$4,453$3,426
30 years$16,895$12,112$8,517$5,893$4,024$3,061
31 years$16,173$11,450$7,940$5,412$3,638$2,737
32 years$15,497$10,834$7,408$4,974$3,291$2,447
33 years$14,864$10,260$6,917$4,574$2,978$2,190
34 years$14,269$9,724$6,463$4,208$2,696$1,960
35 years$13,710$9,223$6,042$3,874$2,442$1,755
36 years$13,182$8,754$5,653$3,568$2,213$1,571
37 years$12,685$8,314$5,291$3,287$2,005$1,407
38 years$12,214$7,902$4,955$3,030$1,818$1,261
39 years$11,769$7,514$4,642$2,794$1,649$1,130
40 years$11,347$7,149$4,351$2,577$1,495$1,013
41 years$10,947$6,805$4,080$2,377$1,357$908
42 years$10,567$6,481$3,827$2,194$1,231$814
43 years$10,206$6,175$3,591$2,025$1,117$730
44 years$9,862$5,886$3,371$1,870$1,014$655
45 years$9,534$5,613$3,165$1,727$921$587
46 years$9,221$5,354$2,973$1,595$836$527
47 years$8,923$5,110$2,793$1,474$759$472
48 years$8,637$4,878$2,624$1,362$689$424
49 years$8,365$4,658$2,467$1,259$626$380
50 years$8,104$4,450$2,319$1,163$569$341

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $8,300,000, adding $6,410 every year, while hoping to spend $52,860 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: 58/20/22 Blend
73$8,300,000$8,300,000$8,300,000$8,300,000
74$9,153,212$8,713,312$8,584,662$9,629,810
75$10,030,597$9,084,022$8,816,005$10,325,772
76$10,995,704$9,471,124$9,053,327$11,077,939
77$12,057,424$9,875,368$9,296,772$11,896,850
78$13,225,554$10,297,534$9,546,487$12,788,964
79$14,510,889$10,738,442$9,802,623$13,761,388
80$15,925,323$11,198,949$10,065,335$14,821,937
81$17,481,961$11,679,952$10,334,778$15,979,213
82$19,195,241$12,182,390$10,611,113$17,242,678
83$21,081,075$12,707,246$10,894,505$18,622,746
84$23,156,993$13,255,550$11,185,119$20,130,874
85$25,442,313$13,828,379$11,483,127$21,779,675
86$27,958,320$14,426,860$11,788,703$23,583,031
87$30,728,467$15,052,175$12,102,023$25,556,219
88$33,778,599$15,705,560$12,423,269$27,716,060
89$37,137,194$16,388,309$12,752,626$30,081,068
90$40,835,629$17,101,778$13,090,281$32,671,627
91$44,908,485$17,847,386$13,436,426$35,510,180
92$49,393,861$18,626,619$13,791,258$38,621,437
93$54,333,744$19,441,033$14,154,974$42,032,604
94$59,774,399$20,292,257$14,527,779$45,773,641
95$65,766,808$21,181,997$14,909,879$49,877,538
96$72,367,148$22,112,041$15,301,486$54,380,625
97$79,637,324$23,084,258$15,702,813$59,322,911
98$87,645,553$24,100,609$16,114,079$64,748,459
99$96,467,006$25,163,145$16,535,507$70,705,795
100$106,184,518$26,274,017$16,967,324$77,248,367