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%11.6%
1 years$685,406$679,301$673,344$667,531$661,854$657,407
2 years$339,310$332,991$326,866$320,928$315,168$310,684
3 years$223,960$217,613$211,504$205,622$199,956$195,572
4 years$166,296$159,969$153,921$148,139$142,610$138,361
5 years$131,707$125,417$119,449$113,785$108,410$104,308
6 years$108,655$102,413$96,532$90,995$85,781$81,832
7 years$92,195$86,006$80,219$74,812$69,763$65,968
8 years$79,857$73,723$68,032$62,758$57,875$54,235
9 years$70,265$64,189$58,596$53,456$48,739$45,252
10 years$62,596$56,580$51,085$46,079$41,528$38,193
11 years$56,325$50,370$44,975$40,103$35,716$32,530
12 years$51,104$45,209$39,914$35,176$30,950$27,911
13 years$46,689$40,856$35,660$31,055$26,989$24,093
14 years$42,908$37,137$32,041$27,567$23,659$20,902
15 years$39,634$33,925$28,929$24,585$20,831$18,211
16 years$36,772$31,126$26,228$22,013$18,411$15,923
17 years$34,250$28,665$23,867$19,779$16,324$13,965
18 years$32,010$26,488$21,787$17,824$14,515$12,279
19 years$30,008$24,549$19,945$16,106$12,937$10,822
20 years$28,209$22,812$18,305$14,587$11,556$9,556
21 years$26,583$21,249$16,837$13,239$10,341$8,453
22 years$25,107$19,835$15,518$12,037$9,269$7,488
23 years$23,762$18,551$14,328$10,962$8,321$6,642
24 years$22,530$17,381$13,251$9,998$7,479$5,898
25 years$21,399$16,311$12,273$9,131$6,730$5,243
26 years$20,356$15,330$11,382$8,349$6,062$4,665
27 years$19,392$14,427$10,570$7,642$5,465$4,153
28 years$18,499$13,595$9,826$7,002$4,931$3,701
29 years$17,669$12,825$9,144$6,421$4,453$3,299
30 years$16,895$12,112$8,517$5,893$4,024$2,943
31 years$16,173$11,450$7,940$5,412$3,638$2,627
32 years$15,497$10,834$7,408$4,974$3,291$2,345
33 years$14,864$10,260$6,917$4,574$2,978$2,095
34 years$14,269$9,724$6,463$4,208$2,696$1,872
35 years$13,710$9,223$6,042$3,874$2,442$1,673
36 years$13,182$8,754$5,653$3,568$2,213$1,496
37 years$12,685$8,314$5,291$3,287$2,005$1,337
38 years$12,214$7,902$4,955$3,030$1,818$1,196
39 years$11,769$7,514$4,642$2,794$1,649$1,070
40 years$11,347$7,149$4,351$2,577$1,495$958
41 years$10,947$6,805$4,080$2,377$1,357$857
42 years$10,567$6,481$3,827$2,194$1,231$767
43 years$10,206$6,175$3,591$2,025$1,117$686
44 years$9,862$5,886$3,371$1,870$1,014$615
45 years$9,534$5,613$3,165$1,727$921$550
46 years$9,221$5,354$2,973$1,595$836$493
47 years$8,923$5,110$2,793$1,474$759$441
48 years$8,637$4,878$2,624$1,362$689$395
49 years$8,365$4,658$2,467$1,259$626$354
50 years$8,104$4,450$2,319$1,163$569$317

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 $5,753 every year, while hoping to spend $51,427 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: 53/36/11 Blend
73$8,300,000$8,300,000$8,300,000$8,300,000
74$9,152,534$8,712,634$8,583,984$9,611,291
75$10,031,375$9,084,835$8,816,830$10,296,188
76$10,998,133$9,473,551$9,055,752$11,034,920
77$12,061,724$9,879,535$9,300,900$11,837,440
78$13,231,966$10,303,579$9,552,427$12,709,801
79$14,519,682$10,746,509$9,810,488$13,658,652
80$15,936,793$11,209,192$10,075,243$14,691,303
81$17,496,437$11,692,533$10,346,855$15,815,788
82$19,213,088$12,197,482$10,625,489$17,040,937
83$21,102,696$12,725,032$10,911,317$18,376,461
84$23,182,835$13,276,223$11,204,510$19,833,038
85$25,472,870$13,852,144$11,505,247$21,422,407
86$27,994,139$14,453,934$11,813,708$23,157,484
87$30,770,152$15,082,788$12,130,078$25,052,472
88$33,826,817$15,739,955$12,454,546$27,122,996
89$37,192,683$16,426,743$12,787,304$29,386,246
90$40,899,207$17,144,524$13,128,549$31,861,136
91$44,981,051$17,894,731$13,478,480$34,568,475
92$49,476,413$18,678,867$13,837,304$37,531,164
93$54,427,381$19,498,505$14,205,227$40,774,402
94$59,880,336$20,355,294$14,582,464$44,325,925
95$65,886,385$21,250,958$14,969,231$48,216,261
96$72,501,846$22,187,305$15,365,750$52,479,009
97$79,788,778$23,166,226$15,772,247$57,151,156
98$87,815,567$24,189,705$16,188,951$62,273,419
99$96,657,571$25,259,817$16,616,097$67,890,622
100$106,397,831$26,378,736$17,053,924$74,052,115