Can I retire at age 74 with 8,800,000?

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 $8,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$726,696$720,223$713,907$707,743$701,724$697,010
2 years$359,750$353,050$346,557$340,261$334,154$329,400
3 years$237,451$230,722$224,245$218,009$212,001$207,354
4 years$176,314$169,605$163,193$157,063$151,201$146,696
5 years$139,641$132,973$126,645$120,639$114,941$110,592
6 years$115,200$108,582$102,348$96,476$90,949$86,761
7 years$97,749$91,187$85,051$79,318$73,966$69,942
8 years$84,667$78,164$72,130$66,538$61,362$57,502
9 years$74,498$68,056$62,126$56,676$51,675$47,978
10 years$66,367$59,988$54,163$48,855$44,030$40,494
11 years$59,718$53,404$47,684$42,519$37,867$34,489
12 years$54,182$47,932$42,318$37,295$32,815$29,592
13 years$49,501$43,317$37,809$32,925$28,615$25,545
14 years$45,493$39,374$33,971$29,228$25,084$22,162
15 years$42,022$35,969$30,671$26,066$22,086$19,308
16 years$38,987$33,001$27,808$23,339$19,520$16,882
17 years$36,313$30,392$25,304$20,970$17,307$14,806
18 years$33,938$28,084$23,100$18,898$15,389$13,019
19 years$31,816$26,028$21,147$17,076$13,717$11,474
20 years$29,908$24,186$19,407$15,466$12,252$10,132
21 years$28,185$22,529$17,851$14,036$10,964$8,962
22 years$26,620$21,030$16,452$12,762$9,828$7,939
23 years$25,193$19,669$15,191$11,623$8,822$7,042
24 years$23,887$18,428$14,049$10,601$7,929$6,253
25 years$22,688$17,294$13,012$9,681$7,135$5,559
26 years$21,582$16,254$12,068$8,852$6,427$4,946
27 years$20,560$15,296$11,206$8,102$5,795$4,403
28 years$19,613$14,414$10,418$7,423$5,229$3,924
29 years$18,733$13,598$9,695$6,807$4,721$3,498
30 years$17,913$12,842$9,030$6,248$4,266$3,120
31 years$17,147$12,140$8,419$5,738$3,857$2,785
32 years$16,431$11,487$7,855$5,273$3,489$2,487
33 years$15,760$10,878$7,334$4,849$3,157$2,221
34 years$15,129$10,310$6,852$4,462$2,859$1,984
35 years$14,536$9,779$6,407$4,107$2,589$1,774
36 years$13,976$9,281$5,993$3,783$2,346$1,586
37 years$13,449$8,815$5,609$3,485$2,126$1,418
38 years$12,950$8,378$5,253$3,212$1,928$1,268
39 years$12,478$7,966$4,922$2,962$1,748$1,135
40 years$12,031$7,579$4,613$2,732$1,585$1,015
41 years$11,607$7,215$4,325$2,521$1,438$908
42 years$11,204$6,871$4,057$2,326$1,305$813
43 years$10,820$6,547$3,807$2,147$1,185$728
44 years$10,456$6,240$3,574$1,983$1,075$652
45 years$10,108$5,951$3,356$1,831$976$583
46 years$9,777$5,677$3,152$1,691$886$522
47 years$9,460$5,417$2,961$1,563$805$468
48 years$9,158$5,172$2,783$1,444$731$419
49 years$8,869$4,939$2,615$1,335$664$375
50 years$8,592$4,718$2,459$1,233$603$336

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $8,800,000, adding $5,683 every year, while hoping to spend $54,753 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: 69/15/16 Blend
73$8,800,000$8,800,000$8,800,000$8,800,000
74$9,703,462$9,237,062$9,100,662$10,336,169
75$10,634,958$9,631,421$9,347,277$11,152,620
76$11,659,632$10,043,269$9,600,319$12,038,561
77$12,786,930$10,473,405$9,859,945$13,006,507
78$14,027,260$10,922,664$10,126,316$14,064,529
79$15,392,089$11,391,923$10,399,597$15,221,513
80$16,894,053$11,882,099$10,679,954$16,487,238
81$18,547,075$12,394,150$10,967,561$17,872,471
82$20,366,494$12,929,081$11,262,592$19,389,062
83$22,369,215$13,487,944$11,565,227$21,050,061
84$24,573,861$14,071,839$11,875,648$22,869,832
85$27,000,955$14,681,920$12,194,042$24,864,193
86$29,673,110$15,319,391$12,520,601$27,050,560
87$32,615,243$15,985,518$12,855,517$29,448,111
88$35,854,812$16,681,623$13,198,991$32,077,965
89$39,422,071$17,409,090$13,551,225$34,963,378
90$43,350,357$18,169,370$13,912,426$38,129,961
91$47,676,406$18,963,982$14,282,805$41,605,924
92$52,440,698$19,794,516$14,662,578$45,422,330
93$57,687,839$20,662,636$15,051,963$49,613,397
94$63,466,981$21,570,088$15,451,187$54,216,810
95$69,832,287$22,518,697$15,860,476$59,274,081
96$76,843,443$23,510,375$16,280,064$64,830,930
97$84,566,216$24,547,126$16,710,188$70,937,723
98$93,073,082$25,631,047$17,151,092$77,649,938
99$102,443,903$26,764,335$17,603,020$85,028,688
100$112,766,685$27,949,291$18,066,225$93,141,295