Can I retire at age 74 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$734,954$728,407$722,020$715,786$709,698$692,823
2 years$363,838$357,062$350,495$344,128$337,952$321,049
3 years$240,150$233,344$226,794$220,486$214,410$198,008
4 years$178,317$171,533$165,048$158,848$152,919$137,144
5 years$141,228$134,484$128,084$122,010$116,247$101,142
6 years$116,509$109,816$103,511$97,573$91,982$77,564
7 years$98,860$92,223$86,018$80,220$74,806$61,076
8 years$85,629$79,052$72,950$67,294$62,059$49,012
9 years$75,344$68,829$62,832$57,320$52,263$39,888
10 years$67,121$60,670$54,778$49,410$44,530$32,814
11 years$60,397$54,011$48,226$43,002$38,298$27,223
12 years$54,798$48,477$42,799$37,718$33,188$22,737
13 years$50,064$43,809$38,238$33,300$28,940$19,094
14 years$46,010$39,821$34,357$29,560$25,369$16,105
15 years$42,499$36,377$31,020$26,362$22,337$13,634
16 years$39,430$33,376$28,124$23,604$19,741$11,577
17 years$36,726$30,738$25,592$21,208$17,504$9,855
18 years$34,324$28,403$23,362$19,113$15,564$8,407
19 years$32,178$26,324$21,387$17,270$13,872$7,185
20 years$30,248$24,461$19,628$15,642$12,391$6,150
21 years$28,505$22,785$18,054$14,196$11,089$5,270
22 years$26,922$21,269$16,639$12,907$9,939$4,521
23 years$25,479$19,892$15,363$11,755$8,922$3,883
24 years$24,159$18,638$14,209$10,721$8,019$3,337
25 years$22,946$17,490$13,160$9,791$7,216$2,869
26 years$21,828$16,438$12,205$8,952$6,500$2,469
27 years$20,794$15,470$11,334$8,194$5,860$2,126
28 years$19,836$14,578$10,536$7,508$5,288$1,831
29 years$18,946$13,752$9,805$6,885$4,775$1,577
30 years$18,117$12,988$9,133$6,319$4,314$1,360
31 years$17,342$12,278$8,514$5,803$3,901$1,172
32 years$16,618$11,617$7,944$5,333$3,528$1,011
33 years$15,939$11,002$7,417$4,904$3,193$872
34 years$15,301$10,427$6,930$4,512$2,891$752
35 years$14,701$9,890$6,479$4,154$2,619$649
36 years$14,135$9,387$6,061$3,826$2,373$560
37 years$13,602$8,915$5,673$3,525$2,150$483
38 years$13,097$8,473$5,313$3,249$1,949$417
39 years$12,620$8,057$4,977$2,996$1,768$360
40 years$12,168$7,665$4,665$2,763$1,604$311
41 years$11,739$7,297$4,375$2,549$1,455$268
42 years$11,331$6,949$4,104$2,353$1,320$231
43 years$10,943$6,621$3,851$2,172$1,198$200
44 years$10,574$6,311$3,614$2,005$1,087$172
45 years$10,223$6,018$3,394$1,852$987$149
46 years$9,888$5,741$3,188$1,711$896$129
47 years$9,568$5,479$2,995$1,580$814$111
48 years$9,262$5,230$2,814$1,460$739$96
49 years$8,969$4,995$2,645$1,350$671$83
50 years$8,690$4,771$2,487$1,248$610$71

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $8,900,000, adding $6,869 every year, while hoping to spend $47,716 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: 46/35/19 Blend
73$8,900,000$8,900,000$8,900,000$8,900,000
74$9,814,885$9,343,185$9,205,235$10,212,799
75$10,765,234$9,750,232$9,462,841$10,898,657
76$11,810,919$10,175,625$9,727,478$11,636,997
77$12,961,615$10,620,212$9,999,330$12,437,036
78$14,227,980$11,084,882$10,278,588$13,304,542
79$15,621,759$11,570,567$10,565,445$14,245,847
80$17,155,892$12,078,239$10,860,102$15,267,910
81$18,844,640$12,608,920$11,162,763$16,378,373
82$20,703,714$13,163,677$11,473,636$17,585,635
83$22,750,427$13,743,631$11,792,936$18,898,924
84$25,003,855$14,349,953$12,120,884$20,328,384
85$27,485,018$14,983,871$12,457,703$21,885,166
86$30,217,079$15,646,670$12,803,625$23,581,530
87$33,225,560$16,339,696$13,158,887$25,430,954
88$36,538,587$17,064,361$13,523,729$27,448,259
89$40,187,149$17,822,140$13,898,400$29,649,748
90$44,205,396$18,614,583$14,283,153$32,053,349
91$48,630,957$19,443,308$14,678,250$34,678,783
92$53,505,298$20,310,014$15,083,955$37,547,747
93$58,874,113$21,216,479$15,500,542$40,684,109
94$64,787,752$22,164,566$15,928,290$44,114,133
95$71,301,699$23,156,227$16,367,484$47,866,716
96$78,477,096$24,193,505$16,818,418$51,973,662
97$86,381,315$25,278,542$17,281,391$56,469,968
98$95,088,601$26,413,582$17,756,709$61,394,154
99$104,680,766$27,600,976$18,244,687$66,788,618
100$115,247,966$28,843,185$18,745,645$72,700,028