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

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 $8,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$726,696$720,223$713,907$707,743$701,724$691,809
2 years$359,750$353,050$346,557$340,261$334,154$324,184
3 years$237,451$230,722$224,245$218,009$212,001$202,286
4 years$176,314$169,605$163,193$157,063$151,201$141,816
5 years$139,641$132,973$126,645$120,639$114,941$105,912
6 years$115,200$108,582$102,348$96,476$90,949$82,288
7 years$97,749$91,187$85,051$79,318$73,966$65,675
8 years$84,667$78,164$72,130$66,538$61,362$53,441
9 years$74,498$68,056$62,126$56,676$51,675$44,121
10 years$66,367$59,988$54,163$48,855$44,030$36,835
11 years$59,718$53,404$47,684$42,519$37,867$31,026
12 years$54,182$47,932$42,318$37,295$32,815$26,319
13 years$49,501$43,317$37,809$32,925$28,615$22,456
14 years$45,493$39,374$33,971$29,228$25,084$19,251
15 years$42,022$35,969$30,671$26,066$22,086$16,570
16 years$38,987$33,001$27,808$23,339$19,520$14,309
17 years$36,313$30,392$25,304$20,970$17,307$12,393
18 years$33,938$28,084$23,100$18,898$15,389$10,758
19 years$31,816$26,028$21,147$17,076$13,717$9,359
20 years$29,908$24,186$19,407$15,466$12,252$8,155
21 years$28,185$22,529$17,851$14,036$10,964$7,118
22 years$26,620$21,030$16,452$12,762$9,828$6,220
23 years$25,193$19,669$15,191$11,623$8,822$5,442
24 years$23,887$18,428$14,049$10,601$7,929$4,766
25 years$22,688$17,294$13,012$9,681$7,135$4,177
26 years$21,582$16,254$12,068$8,852$6,427$3,664
27 years$20,560$15,296$11,206$8,102$5,795$3,216
28 years$19,613$14,414$10,418$7,423$5,229$2,825
29 years$18,733$13,598$9,695$6,807$4,721$2,482
30 years$17,913$12,842$9,030$6,248$4,266$2,182
31 years$17,147$12,140$8,419$5,738$3,857$1,919
32 years$16,431$11,487$7,855$5,273$3,489$1,688
33 years$15,760$10,878$7,334$4,849$3,157$1,485
34 years$15,129$10,310$6,852$4,462$2,859$1,307
35 years$14,536$9,779$6,407$4,107$2,589$1,151
36 years$13,976$9,281$5,993$3,783$2,346$1,013
37 years$13,449$8,815$5,609$3,485$2,126$892
38 years$12,950$8,378$5,253$3,212$1,928$786
39 years$12,478$7,966$4,922$2,962$1,748$692
40 years$12,031$7,579$4,613$2,732$1,585$610
41 years$11,607$7,215$4,325$2,521$1,438$538
42 years$11,204$6,871$4,057$2,326$1,305$474
43 years$10,820$6,547$3,807$2,147$1,185$418
44 years$10,456$6,240$3,574$1,983$1,075$368
45 years$10,108$5,951$3,356$1,831$976$324
46 years$9,777$5,677$3,152$1,691$886$286
47 years$9,460$5,417$2,961$1,563$805$252
48 years$9,158$5,172$2,783$1,444$731$222
49 years$8,869$4,939$2,615$1,335$664$196
50 years$8,592$4,718$2,459$1,233$603$173

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 $3,143 every year, while hoping to spend $28,595 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: 24/48/28 Blend
73$8,800,000$8,800,000$8,800,000$8,800,000
74$9,700,842$9,234,442$9,098,042$9,848,010
75$10,659,903$9,656,505$9,372,402$10,395,506
76$11,715,830$10,098,290$9,654,994$10,979,057
77$12,878,473$10,560,735$9,946,064$11,603,689
78$14,158,685$11,044,819$10,245,866$12,272,841
79$15,568,428$11,551,572$10,554,659$12,990,269
80$17,120,879$12,082,071$10,872,712$13,760,078
81$18,830,562$12,637,445$11,200,300$14,586,759
82$20,713,477$13,218,878$11,537,708$15,475,221
83$22,787,259$13,827,610$11,885,229$16,430,837
84$25,071,339$14,464,942$12,243,163$17,459,490
85$27,587,127$15,132,236$12,611,821$18,567,616
86$30,358,219$15,830,921$12,991,523$19,762,270
87$33,410,615$16,562,494$13,382,596$21,051,175
88$36,772,965$17,328,522$13,785,380$22,442,797
89$40,476,839$18,130,653$14,200,222$23,946,416
90$44,557,030$18,970,607$14,627,483$25,572,204
91$49,051,874$19,850,194$15,067,530$27,331,319
92$54,003,618$20,771,306$15,520,745$29,235,996
93$59,458,816$21,735,929$15,987,519$31,299,662
94$65,468,769$22,746,144$16,468,255$33,537,049
95$72,090,010$23,804,132$16,963,368$35,964,328
96$79,384,836$24,912,179$17,473,286$38,599,249
97$87,421,895$26,072,681$17,998,447$41,461,304
98$96,276,839$27,288,153$18,539,305$44,571,896
99$106,033,030$28,561,227$19,096,326$47,954,535
100$116,782,336$29,894,664$19,669,990$51,635,046