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%11%
1 years$718,438$712,038$705,795$699,701$693,750$690,827
2 years$355,662$349,038$342,619$336,395$330,357$327,406
3 years$234,753$228,100$221,697$215,531$209,592$206,704
4 years$174,310$167,678$161,339$155,278$149,483$146,681
5 years$138,054$131,462$125,205$119,269$113,635$110,926
6 years$113,891$107,348$101,185$95,380$89,915$87,304
7 years$96,638$90,151$84,085$78,417$73,125$70,613
8 years$83,705$77,276$71,311$65,782$60,664$58,251
9 years$73,651$67,283$61,420$56,032$51,088$48,774
10 years$65,612$59,306$53,547$48,300$43,530$41,312
11 years$59,040$52,797$47,142$42,035$37,437$35,316
12 years$53,566$47,388$41,837$36,871$32,442$30,415
13 years$48,939$42,825$37,379$32,551$28,290$26,356
14 years$44,976$38,926$33,585$28,895$24,799$22,955
15 years$41,544$35,560$30,323$25,770$21,835$20,079
16 years$38,544$32,626$27,492$23,074$19,298$17,628
17 years$35,900$30,047$25,017$20,732$17,111$15,524
18 years$33,553$27,765$22,837$18,683$15,214$13,708
19 years$31,454$25,732$20,906$16,882$13,561$12,133
20 years$29,569$23,911$19,187$15,290$12,113$10,760
21 years$27,864$22,273$17,648$13,877$10,839$9,560
22 years$26,317$20,791$16,265$12,617$9,716$8,506
23 years$24,907$19,445$15,018$11,491$8,722$7,579
24 years$23,616$18,219$13,889$10,480$7,839$6,761
25 years$22,430$17,097$12,864$9,571$7,054$6,038
26 years$21,337$16,069$11,931$8,751$6,354$5,397
27 years$20,327$15,123$11,079$8,010$5,729$4,828
28 years$19,390$14,250$10,299$7,339$5,169$4,323
29 years$18,520$13,443$9,584$6,730$4,668$3,872
30 years$17,709$12,696$8,928$6,177$4,217$3,471
31 years$16,953$12,002$8,323$5,673$3,813$3,113
32 years$16,244$11,356$7,765$5,213$3,449$2,793
33 years$15,580$10,754$7,251$4,794$3,121$2,507
34 years$14,957$10,193$6,775$4,411$2,826$2,251
35 years$14,370$9,668$6,334$4,061$2,560$2,022
36 years$13,818$9,176$5,925$3,740$2,319$1,817
37 years$13,296$8,715$5,546$3,446$2,102$1,633
38 years$12,803$8,282$5,193$3,176$1,906$1,468
39 years$12,336$7,876$4,866$2,928$1,728$1,320
40 years$11,894$7,493$4,561$2,701$1,567$1,187
41 years$11,475$7,133$4,276$2,492$1,422$1,068
42 years$11,076$6,793$4,011$2,300$1,290$961
43 years$10,697$6,472$3,764$2,123$1,171$865
44 years$10,337$6,169$3,533$1,960$1,063$778
45 years$9,993$5,883$3,318$1,810$965$700
46 years$9,665$5,612$3,116$1,672$876$630
47 years$9,353$5,356$2,927$1,545$796$567
48 years$9,054$5,113$2,751$1,428$723$511
49 years$8,768$4,883$2,586$1,319$656$460
50 years$8,494$4,664$2,431$1,219$596$414

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 $5,183 every year, while hoping to spend $47,247 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: 45/31/24 Blend
73$8,700,000$8,700,000$8,700,000$8,700,000
74$9,592,746$9,131,646$8,996,796$9,957,759
75$10,520,936$9,528,826$9,247,918$10,613,340
76$11,542,217$9,943,885$9,505,870$11,318,858
77$12,666,036$10,377,648$9,770,829$12,083,049
78$13,902,800$10,830,981$10,042,980$12,911,400
79$15,263,975$11,304,788$10,322,509$13,809,939
80$16,762,198$11,800,020$10,609,611$14,785,288
81$18,411,390$12,317,669$10,904,481$15,844,725
82$20,226,893$12,858,776$11,207,321$16,996,243
83$22,225,609$13,424,429$11,518,340$18,248,632
84$24,426,165$14,015,770$11,837,748$19,611,552
85$26,849,084$14,633,993$12,165,763$21,095,623
86$29,516,981$15,280,350$12,502,607$22,712,523
87$32,454,777$15,956,151$12,848,508$24,475,091
88$35,689,931$16,662,768$13,203,699$26,397,449
89$39,252,700$17,401,640$13,568,420$28,495,129
90$43,176,427$18,174,272$13,942,914$30,785,216
91$47,497,853$18,982,242$14,327,432$33,286,505
92$52,257,464$19,827,201$14,722,230$36,019,674
93$57,499,872$20,710,881$15,127,571$39,007,474
94$63,274,238$21,635,093$15,543,724$42,274,940
95$69,634,735$22,601,737$15,970,963$45,849,624
96$76,641,058$23,612,803$16,409,571$49,761,843
97$84,358,988$24,670,373$16,859,834$54,044,970
98$92,861,015$25,776,631$17,322,049$58,735,733
99$102,227,017$26,933,864$17,796,516$63,874,564
100$112,545,018$28,144,469$18,283,544$69,505,970