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

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 $8,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$718,438$712,038$705,795$699,701$693,750$681,977
2 years$355,662$349,038$342,619$336,395$330,357$318,532
3 years$234,753$228,100$221,697$215,531$209,592$198,083
4 years$174,310$167,678$161,339$155,278$149,483$138,379
5 years$138,054$131,462$125,205$119,269$113,635$102,968
6 years$113,891$107,348$101,185$95,380$89,915$79,697
7 years$96,638$90,151$84,085$78,417$73,125$63,359
8 years$83,705$77,276$71,311$65,782$60,664$51,349
9 years$73,651$67,283$61,420$56,032$51,088$42,217
10 years$65,612$59,306$53,547$48,300$43,530$35,096
11 years$59,040$52,797$47,142$42,035$37,437$29,432
12 years$53,566$47,388$41,837$36,871$32,442$24,854
13 years$48,939$42,825$37,379$32,551$28,290$21,109
14 years$44,976$38,926$33,585$28,895$24,799$18,012
15 years$41,544$35,560$30,323$25,770$21,835$15,429
16 years$38,544$32,626$27,492$23,074$19,298$13,259
17 years$35,900$30,047$25,017$20,732$17,111$11,426
18 years$33,553$27,765$22,837$18,683$15,214$9,869
19 years$31,454$25,732$20,906$16,882$13,561$8,541
20 years$29,569$23,911$19,187$15,290$12,113$7,404
21 years$27,864$22,273$17,648$13,877$10,839$6,428
22 years$26,317$20,791$16,265$12,617$9,716$5,588
23 years$24,907$19,445$15,018$11,491$8,722$4,862
24 years$23,616$18,219$13,889$10,480$7,839$4,235
25 years$22,430$17,097$12,864$9,571$7,054$3,692
26 years$21,337$16,069$11,931$8,751$6,354$3,220
27 years$20,327$15,123$11,079$8,010$5,729$2,811
28 years$19,390$14,250$10,299$7,339$5,169$2,454
29 years$18,520$13,443$9,584$6,730$4,668$2,144
30 years$17,709$12,696$8,928$6,177$4,217$1,874
31 years$16,953$12,002$8,323$5,673$3,813$1,639
32 years$16,244$11,356$7,765$5,213$3,449$1,433
33 years$15,580$10,754$7,251$4,794$3,121$1,254
34 years$14,957$10,193$6,775$4,411$2,826$1,097
35 years$14,370$9,668$6,334$4,061$2,560$960
36 years$13,818$9,176$5,925$3,740$2,319$840
37 years$13,296$8,715$5,546$3,446$2,102$736
38 years$12,803$8,282$5,193$3,176$1,906$644
39 years$12,336$7,876$4,866$2,928$1,728$564
40 years$11,894$7,493$4,561$2,701$1,567$494
41 years$11,475$7,133$4,276$2,492$1,422$433
42 years$11,076$6,793$4,011$2,300$1,290$379
43 years$10,697$6,472$3,764$2,123$1,171$332
44 years$10,337$6,169$3,533$1,960$1,063$291
45 years$9,993$5,883$3,318$1,810$965$255
46 years$9,665$5,612$3,116$1,672$876$223
47 years$9,353$5,356$2,927$1,545$796$196
48 years$9,054$5,113$2,751$1,428$723$171
49 years$8,768$4,883$2,586$1,319$656$150
50 years$8,494$4,664$2,431$1,219$596$132

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 $5,823 every year, while hoping to spend $47,661 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: 48/39/13 Blend
73$8,700,000$8,700,000$8,700,000$8,700,000
74$9,593,406$9,132,306$8,997,456$10,019,064
75$10,521,223$9,529,079$9,248,160$10,709,957
76$11,542,079$9,943,695$9,505,665$11,454,285
77$12,665,415$10,376,980$9,770,149$12,261,401
78$13,901,632$10,829,796$10,041,793$13,137,181
79$15,262,190$11,303,048$10,320,785$14,088,085
80$16,759,716$11,797,680$10,607,314$15,121,203
81$18,408,124$12,314,684$10,901,576$16,244,327
82$20,222,747$12,855,096$11,203,772$17,466,019
83$22,220,475$13,420,005$11,514,107$18,795,686
84$24,419,925$14,010,546$11,832,792$20,243,668
85$26,841,607$14,627,913$12,160,040$21,821,332
86$29,508,123$15,273,352$12,496,073$23,541,174
87$32,444,376$15,948,171$12,841,116$25,416,930
88$35,677,809$16,653,738$13,195,400$27,463,709
89$39,238,662$17,391,488$13,559,162$29,698,125
90$43,160,256$18,162,921$13,932,645$32,138,451
91$47,479,309$18,969,611$14,316,095$34,804,785
92$52,236,282$19,813,205$14,709,767$37,719,237
93$57,475,759$20,695,429$15,113,921$40,906,134
94$63,246,872$21,618,090$15,528,823$44,392,238
95$69,603,758$22,583,082$15,954,744$48,206,998
96$76,606,077$23,592,389$16,391,963$52,382,819
97$84,319,568$24,648,087$16,840,765$56,955,365
98$92,816,675$25,752,354$17,301,442$61,963,885
99$102,177,227$26,907,471$17,774,291$67,451,578
100$112,489,193$28,115,826$18,259,619$73,465,995