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

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$693,664$687,485$681,457$675,573$669,828$654,966
2 years$343,398$337,003$330,804$324,795$318,966$304,069
3 years$226,658$220,235$214,052$208,099$202,365$187,900
4 years$168,299$161,896$155,775$149,924$144,328$130,406
5 years$133,293$126,928$120,888$115,156$109,716$96,375
6 years$109,964$103,647$97,695$92,091$86,815$74,070
7 years$93,306$87,042$81,185$75,713$70,604$58,457
8 years$80,819$74,611$68,852$63,514$58,572$47,019
9 years$71,111$64,963$59,302$54,100$49,326$38,358
10 years$63,350$57,261$51,701$46,634$42,029$31,634
11 years$57,004$50,976$45,517$40,586$36,146$26,311
12 years$51,719$45,754$40,395$35,599$31,323$22,033
13 years$47,251$41,348$36,090$31,429$27,315$18,552
14 years$43,425$37,584$32,427$27,899$23,944$15,691
15 years$40,111$34,334$29,277$24,881$21,082$13,321
16 years$37,215$31,501$26,544$22,278$18,632$11,343
17 years$34,662$29,011$24,154$20,017$16,521$9,684
18 years$32,396$26,807$22,050$18,039$14,689$8,286
19 years$30,370$24,845$20,185$16,300$13,093$7,102
20 years$28,549$23,087$18,525$14,763$11,695$6,097
21 years$26,904$21,505$17,040$13,398$10,466$5,241
22 years$25,410$20,074$15,705$12,182$9,381$4,510
23 years$24,048$18,775$14,500$11,094$8,421$3,885
24 years$22,802$17,591$13,410$10,119$7,569$3,350
25 years$21,656$16,508$12,421$9,241$6,811$2,890
26 years$20,601$15,515$11,520$8,449$6,135$2,495
27 years$19,626$14,601$10,697$7,734$5,531$2,155
28 years$18,722$13,759$9,944$7,086$4,991$1,862
29 years$17,882$12,980$9,254$6,498$4,507$1,609
30 years$17,099$12,258$8,620$5,964$4,072$1,392
31 years$16,368$11,588$8,036$5,477$3,682$1,204
32 years$15,684$10,964$7,498$5,034$3,330$1,041
33 years$15,043$10,383$7,001$4,629$3,014$901
34 years$14,441$9,841$6,541$4,259$2,729$780
35 years$13,875$9,334$6,115$3,921$2,471$675
36 years$13,341$8,860$5,721$3,611$2,239$585
37 years$12,837$8,415$5,354$3,327$2,030$506
38 years$12,361$7,997$5,014$3,066$1,840$438
39 years$11,911$7,604$4,698$2,827$1,669$380
40 years$11,484$7,235$4,403$2,608$1,513$329
41 years$11,079$6,887$4,129$2,406$1,373$285
42 years$10,694$6,559$3,873$2,221$1,246$247
43 years$10,329$6,249$3,634$2,050$1,131$214
44 years$9,980$5,957$3,411$1,893$1,026$185
45 years$9,649$5,680$3,203$1,748$932$160
46 years$9,332$5,419$3,009$1,615$846$139
47 years$9,030$5,171$2,826$1,492$768$120
48 years$8,741$4,937$2,656$1,378$698$104
49 years$8,465$4,714$2,497$1,274$634$90
50 years$8,201$4,503$2,347$1,177$575$78

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 $3,946 every year, while hoping to spend $41,972 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: 63/14/23 Blend
73$8,400,000$8,400,000$8,400,000$8,400,000
74$9,260,870$8,815,670$8,685,470$9,788,380
75$10,160,821$9,202,980$8,931,776$10,532,449
76$11,151,160$9,607,862$9,184,926$11,339,749
77$12,241,063$10,031,131$9,445,105$12,220,546
78$13,440,639$10,473,644$9,712,504$13,182,032
79$14,761,028$10,936,297$9,987,316$14,232,116
80$16,214,504$11,420,026$10,269,742$15,379,506
81$17,814,592$11,925,816$10,559,987$16,633,786
82$19,576,194$12,454,695$10,858,261$18,005,502
83$21,515,733$13,007,742$11,164,779$19,506,265
84$23,651,301$13,586,084$11,479,763$21,148,855
85$26,002,837$14,190,906$11,803,438$22,947,343
86$28,592,312$14,823,446$12,136,039$24,917,218
87$31,443,935$15,485,002$12,477,803$27,075,537
88$34,584,382$16,176,933$12,828,976$29,441,077
89$38,043,050$16,900,663$13,189,807$32,034,516
90$41,852,330$17,657,685$13,560,554$34,878,623
91$46,047,916$18,449,560$13,941,482$37,998,471
92$50,669,142$19,277,927$14,332,860$41,421,672
93$55,759,350$20,144,501$14,734,966$45,178,635
94$61,366,300$21,051,078$15,148,084$49,302,850
95$67,542,624$21,999,542$15,572,506$53,831,203
96$74,346,317$22,991,865$16,008,530$58,804,318
97$81,841,288$24,030,113$16,456,463$64,266,943
98$90,097,963$25,116,452$16,916,618$70,268,363
99$99,193,949$26,253,152$17,389,318$76,862,867
100$109,214,763$27,442,588$17,874,892$84,110,255