Can I retire at age 74 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$693,664$687,485$681,457$675,573$669,828$657,919
2 years$343,398$337,003$330,804$324,795$318,966$307,008
3 years$226,658$220,235$214,052$208,099$202,365$190,732
4 years$168,299$161,896$155,775$149,924$144,328$133,109
5 years$133,293$126,928$120,888$115,156$109,716$98,942
6 years$109,964$103,647$97,695$92,091$86,815$76,499
7 years$93,306$87,042$81,185$75,713$70,604$60,748
8 years$80,819$74,611$68,852$63,514$58,572$49,176
9 years$71,111$64,963$59,302$54,100$49,326$40,382
10 years$63,350$57,261$51,701$46,634$42,029$33,530
11 years$57,004$50,976$45,517$40,586$36,146$28,083
12 years$51,719$45,754$40,395$35,599$31,323$23,685
13 years$47,251$41,348$36,090$31,429$27,315$20,089
14 years$43,425$37,584$32,427$27,899$23,944$17,118
15 years$40,111$34,334$29,277$24,881$21,082$14,643
16 years$37,215$31,501$26,544$22,278$18,632$12,567
17 years$34,662$29,011$24,154$20,017$16,521$10,814
18 years$32,396$26,807$22,050$18,039$14,689$9,327
19 years$30,370$24,845$20,185$16,300$13,093$8,060
20 years$28,549$23,087$18,525$14,763$11,695$6,977
21 years$26,904$21,505$17,040$13,398$10,466$6,048
22 years$25,410$20,074$15,705$12,182$9,381$5,249
23 years$24,048$18,775$14,500$11,094$8,421$4,560
24 years$22,802$17,591$13,410$10,119$7,569$3,966
25 years$21,656$16,508$12,421$9,241$6,811$3,451
26 years$20,601$15,515$11,520$8,449$6,135$3,006
27 years$19,626$14,601$10,697$7,734$5,531$2,619
28 years$18,722$13,759$9,944$7,086$4,991$2,284
29 years$17,882$12,980$9,254$6,498$4,507$1,992
30 years$17,099$12,258$8,620$5,964$4,072$1,738
31 years$16,368$11,588$8,036$5,477$3,682$1,517
32 years$15,684$10,964$7,498$5,034$3,330$1,325
33 years$15,043$10,383$7,001$4,629$3,014$1,157
34 years$14,441$9,841$6,541$4,259$2,729$1,011
35 years$13,875$9,334$6,115$3,921$2,471$883
36 years$13,341$8,860$5,721$3,611$2,239$772
37 years$12,837$8,415$5,354$3,327$2,030$674
38 years$12,361$7,997$5,014$3,066$1,840$589
39 years$11,911$7,604$4,698$2,827$1,669$515
40 years$11,484$7,235$4,403$2,608$1,513$451
41 years$11,079$6,887$4,129$2,406$1,373$394
42 years$10,694$6,559$3,873$2,221$1,246$344
43 years$10,329$6,249$3,634$2,050$1,131$301
44 years$9,980$5,957$3,411$1,893$1,026$263
45 years$9,649$5,680$3,203$1,748$932$230
46 years$9,332$5,419$3,009$1,615$846$202
47 years$9,030$5,171$2,826$1,492$768$176
48 years$8,741$4,937$2,656$1,378$698$154
49 years$8,465$4,714$2,497$1,274$634$135
50 years$8,201$4,503$2,347$1,177$575$118

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $8,400,000, adding $2,987 every year, while hoping to spend $30,118 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: 48/24/28 Blend
73$8,400,000$8,400,000$8,400,000$8,400,000
74$9,259,881$8,814,681$8,684,481$9,630,190
75$10,172,344$9,214,555$8,943,366$10,290,897
76$11,176,868$9,633,014$9,209,914$11,004,806
77$12,282,813$10,070,935$9,484,350$11,779,547
78$13,500,489$10,529,241$9,766,906$12,620,873
79$14,841,261$11,008,896$10,057,819$13,535,108
80$16,317,650$11,510,911$10,357,336$14,529,200
81$17,943,450$12,036,347$10,665,707$15,610,786
82$19,733,867$12,586,312$10,983,193$16,788,264
83$21,705,652$13,161,972$11,310,061$18,070,864
84$23,877,266$13,764,546$11,646,584$19,468,739
85$26,269,049$14,395,311$11,993,048$20,993,051
86$28,903,418$15,055,607$12,349,741$22,656,079
87$31,805,073$15,746,838$12,716,963$24,471,329
88$35,001,232$16,470,475$13,095,023$26,453,658
89$38,521,889$17,228,059$13,484,237$28,619,411
90$42,400,094$18,021,207$13,884,932$30,986,571
91$46,672,269$18,851,611$14,297,442$33,574,928
92$51,378,547$19,721,047$14,722,114$36,406,259
93$56,563,156$20,631,376$15,159,302$39,504,527
94$62,274,831$21,584,546$15,609,371$42,896,109
95$68,567,277$22,582,602$16,072,699$46,610,038
96$75,499,676$23,627,686$16,549,670$50,678,267
97$83,137,243$24,722,043$17,040,684$55,135,975
98$91,551,845$25,868,026$17,546,150$60,021,888
99$100,822,677$27,068,103$18,066,490$65,378,638
100$111,037,008$28,324,858$18,602,135$71,253,165