Can I retire at age 74 with 8,700,000?

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 $8,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$718,438$712,038$705,795$699,701$693,750$685,650
2 years$355,662$349,038$342,619$336,395$330,357$322,204
3 years$234,753$228,100$221,697$215,531$209,592$201,639
4 years$174,310$167,678$161,339$155,278$149,483$141,791
5 years$138,054$131,462$125,205$119,269$113,635$106,227
6 years$113,891$107,348$101,185$95,380$89,915$82,800
7 years$96,638$90,151$84,085$78,417$73,125$66,306
8 years$83,705$77,276$71,311$65,782$60,664$54,140
9 years$73,651$67,283$61,420$56,032$51,088$44,857
10 years$65,612$59,306$53,547$48,300$43,530$37,587
11 years$59,040$52,797$47,142$42,035$37,437$31,777
12 years$53,566$47,388$41,837$36,871$32,442$27,059
13 years$48,939$42,825$37,379$32,551$28,290$23,178
14 years$44,976$38,926$33,585$28,895$24,799$19,950
15 years$41,544$35,560$30,323$25,770$21,835$17,241
16 years$38,544$32,626$27,492$23,074$19,298$14,952
17 years$35,900$30,047$25,017$20,732$17,111$13,004
18 years$33,553$27,765$22,837$18,683$15,214$11,337
19 years$31,454$25,732$20,906$16,882$13,561$9,906
20 years$29,569$23,911$19,187$15,290$12,113$8,671
21 years$27,864$22,273$17,648$13,877$10,839$7,601
22 years$26,317$20,791$16,265$12,617$9,716$6,673
23 years$24,907$19,445$15,018$11,491$8,722$5,865
24 years$23,616$18,219$13,889$10,480$7,839$5,161
25 years$22,430$17,097$12,864$9,571$7,054$4,545
26 years$21,337$16,069$11,931$8,751$6,354$4,006
27 years$20,327$15,123$11,079$8,010$5,729$3,533
28 years$19,390$14,250$10,299$7,339$5,169$3,118
29 years$18,520$13,443$9,584$6,730$4,668$2,753
30 years$17,709$12,696$8,928$6,177$4,217$2,432
31 years$16,953$12,002$8,323$5,673$3,813$2,149
32 years$16,244$11,356$7,765$5,213$3,449$1,900
33 years$15,580$10,754$7,251$4,794$3,121$1,680
34 years$14,957$10,193$6,775$4,411$2,826$1,486
35 years$14,370$9,668$6,334$4,061$2,560$1,315
36 years$13,818$9,176$5,925$3,740$2,319$1,164
37 years$13,296$8,715$5,546$3,446$2,102$1,030
38 years$12,803$8,282$5,193$3,176$1,906$912
39 years$12,336$7,876$4,866$2,928$1,728$808
40 years$11,894$7,493$4,561$2,701$1,567$715
41 years$11,475$7,133$4,276$2,492$1,422$634
42 years$11,076$6,793$4,011$2,300$1,290$561
43 years$10,697$6,472$3,764$2,123$1,171$497
44 years$10,337$6,169$3,533$1,960$1,063$440
45 years$9,993$5,883$3,318$1,810$965$390
46 years$9,665$5,612$3,116$1,672$876$346
47 years$9,353$5,356$2,927$1,545$796$306
48 years$9,054$5,113$2,751$1,428$723$272
49 years$8,768$4,883$2,586$1,319$656$241
50 years$8,494$4,664$2,431$1,219$596$213

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $8,700,000, adding $6,308 every year, while hoping to spend $22,749 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: 62/33/5 Blend
73$8,700,000$8,700,000$8,700,000$8,700,000
74$9,593,907$9,132,807$8,997,957$10,180,886
75$10,548,280$9,556,109$9,275,183$10,996,303
76$11,599,238$9,999,392$9,560,935$11,882,638
77$12,756,606$10,463,608$9,855,473$12,849,381
78$14,031,215$10,949,760$10,159,066$13,904,290
79$15,434,998$11,458,897$10,471,993$15,055,896
80$16,981,102$11,992,118$10,794,540$16,313,580
81$18,684,020$12,550,576$11,127,002$17,687,654
82$20,559,716$13,135,481$11,469,683$19,189,464
83$22,625,786$13,748,098$11,822,896$20,831,485
84$24,901,618$14,389,757$12,186,965$22,627,440
85$27,408,577$15,061,849$12,562,222$24,592,426
86$30,170,207$15,765,834$12,949,011$26,743,052
87$33,212,450$16,503,242$13,347,685$29,097,590
88$36,563,895$17,275,676$13,758,608$31,676,150
89$40,256,047$18,084,819$14,182,156$34,500,856
90$44,323,621$18,932,433$14,618,716$37,596,059
91$48,804,874$19,820,365$15,068,686$40,988,556
92$53,741,962$20,750,555$15,532,478$44,707,844
93$59,181,342$21,725,031$16,010,516$48,786,387
94$65,174,206$22,745,924$16,503,235$53,259,924
95$71,776,967$23,815,467$17,011,086$58,167,793
96$79,051,792$24,936,000$17,534,532$63,553,303
97$87,067,188$26,109,976$18,074,051$69,464,135
98$95,898,645$27,339,969$18,630,135$75,952,784
99$105,629,354$28,628,675$19,203,293$83,077,050
100$116,350,991$29,978,923$19,794,046$90,900,574