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

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$685,406$679,301$673,344$667,531$661,854$644,546
2 years$339,310$332,991$326,866$320,928$315,168$297,849
3 years$223,960$217,613$211,504$205,622$199,956$183,167
4 years$166,296$159,969$153,921$148,139$142,610$126,481
5 years$131,707$125,417$119,449$113,785$108,410$92,985
6 years$108,655$102,413$96,532$90,995$85,781$71,075
7 years$92,195$86,006$80,219$74,812$69,763$55,777
8 years$79,857$73,723$68,032$62,758$57,875$44,602
9 years$70,265$64,189$58,596$53,456$48,739$36,168
10 years$62,596$56,580$51,085$46,079$41,528$29,643
11 years$56,325$50,370$44,975$40,103$35,716$24,499
12 years$51,104$45,209$39,914$35,176$30,950$20,381
13 years$46,689$40,856$35,660$31,055$26,989$17,047
14 years$42,908$37,137$32,041$27,567$23,659$14,320
15 years$39,634$33,925$28,929$24,585$20,831$12,072
16 years$36,772$31,126$26,228$22,013$18,411$10,207
17 years$34,250$28,665$23,867$19,779$16,324$8,651
18 years$32,010$26,488$21,787$17,824$14,515$7,347
19 years$30,008$24,549$19,945$16,106$12,937$6,251
20 years$28,209$22,812$18,305$14,587$11,556$5,326
21 years$26,583$21,249$16,837$13,239$10,341$4,543
22 years$25,107$19,835$15,518$12,037$9,269$3,880
23 years$23,762$18,551$14,328$10,962$8,321$3,316
24 years$22,530$17,381$13,251$9,998$7,479$2,836
25 years$21,399$16,311$12,273$9,131$6,730$2,427
26 years$20,356$15,330$11,382$8,349$6,062$2,079
27 years$19,392$14,427$10,570$7,642$5,465$1,781
28 years$18,499$13,595$9,826$7,002$4,931$1,526
29 years$17,669$12,825$9,144$6,421$4,453$1,309
30 years$16,895$12,112$8,517$5,893$4,024$1,122
31 years$16,173$11,450$7,940$5,412$3,638$963
32 years$15,497$10,834$7,408$4,974$3,291$826
33 years$14,864$10,260$6,917$4,574$2,978$709
34 years$14,269$9,724$6,463$4,208$2,696$608
35 years$13,710$9,223$6,042$3,874$2,442$522
36 years$13,182$8,754$5,653$3,568$2,213$448
37 years$12,685$8,314$5,291$3,287$2,005$385
38 years$12,214$7,902$4,955$3,030$1,818$331
39 years$11,769$7,514$4,642$2,794$1,649$284
40 years$11,347$7,149$4,351$2,577$1,495$244
41 years$10,947$6,805$4,080$2,377$1,357$209
42 years$10,567$6,481$3,827$2,194$1,231$180
43 years$10,206$6,175$3,591$2,025$1,117$154
44 years$9,862$5,886$3,371$1,870$1,014$133
45 years$9,534$5,613$3,165$1,727$921$114
46 years$9,221$5,354$2,973$1,595$836$98
47 years$8,923$5,110$2,793$1,474$759$84
48 years$8,637$4,878$2,624$1,362$689$72
49 years$8,365$4,658$2,467$1,259$626$62
50 years$8,104$4,450$2,319$1,163$569$53

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 $3,406 every year, while hoping to spend $58,299 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: 54/31/15 Blend
73$8,300,000$8,300,000$8,300,000$8,300,000
74$9,150,113$8,710,213$8,581,563$9,607,616
75$10,021,395$9,074,984$8,807,016$10,284,604
76$10,979,594$9,455,675$9,038,067$11,014,572
77$12,033,513$9,853,004$9,274,844$11,807,803
78$13,192,854$10,267,723$9,517,473$12,670,336
79$14,468,302$10,700,619$9,766,086$13,608,806
80$15,871,634$11,152,514$10,020,815$14,630,509
81$17,415,825$11,624,271$10,281,796$15,743,467
82$19,115,169$12,116,791$10,549,166$16,956,502
83$20,985,419$12,631,016$10,823,066$18,279,315
84$23,043,930$13,167,934$11,103,637$19,722,578
85$25,309,826$13,728,578$11,391,024$21,298,030
86$27,804,179$14,314,029$11,685,374$23,018,585
87$30,550,208$14,925,419$11,986,837$24,898,451
88$33,573,497$15,563,933$12,295,563$26,953,261
89$36,902,237$16,230,809$12,611,708$29,200,220
90$40,567,492$16,927,345$12,935,427$31,658,258
91$44,603,492$17,654,901$13,266,880$34,348,213
92$49,047,955$18,414,897$13,606,227$37,293,016
93$53,942,442$19,208,823$13,953,631$40,517,910
94$59,332,752$20,038,237$14,309,259$44,050,681
95$65,269,352$20,904,769$14,673,278$47,921,917
96$71,807,851$21,810,129$15,045,858$52,165,294
97$79,009,530$22,756,103$15,427,173$56,817,886
98$86,941,914$23,744,564$15,817,395$61,920,512
99$95,679,414$24,777,472$16,216,703$67,518,118
100$105,304,026$25,856,880$16,625,274$73,660,193