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

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$734,954$728,407$722,020$715,786$709,698$700,540
2 years$363,838$357,062$350,495$344,128$337,952$328,738
3 years$240,150$233,344$226,794$220,486$214,410$205,427
4 years$178,317$171,533$165,048$158,848$152,919$144,236
5 years$141,228$134,484$128,084$122,010$116,247$107,889
6 years$116,509$109,816$103,511$97,573$91,982$83,960
7 years$98,860$92,223$86,018$80,220$74,806$67,122
8 years$85,629$79,052$72,950$67,294$62,059$54,713
9 years$75,344$68,829$62,832$57,320$52,263$45,251
10 years$67,121$60,670$54,778$49,410$44,530$37,848
11 years$60,397$54,011$48,226$43,002$38,298$31,938
12 years$54,798$48,477$42,799$37,718$33,188$27,145
13 years$50,064$43,809$38,238$33,300$28,940$23,206
14 years$46,010$39,821$34,357$29,560$25,369$19,934
15 years$42,499$36,377$31,020$26,362$22,337$17,193
16 years$39,430$33,376$28,124$23,604$19,741$14,878
17 years$36,726$30,738$25,592$21,208$17,504$12,913
18 years$34,324$28,403$23,362$19,113$15,564$11,234
19 years$32,178$26,324$21,387$17,270$13,872$9,794
20 years$30,248$24,461$19,628$15,642$12,391$8,554
21 years$28,505$22,785$18,054$14,196$11,089$7,482
22 years$26,922$21,269$16,639$12,907$9,939$6,554
23 years$25,479$19,892$15,363$11,755$8,922$5,747
24 years$24,159$18,638$14,209$10,721$8,019$5,045
25 years$22,946$17,490$13,160$9,791$7,216$4,432
26 years$21,828$16,438$12,205$8,952$6,500$3,897
27 years$20,794$15,470$11,334$8,194$5,860$3,429
28 years$19,836$14,578$10,536$7,508$5,288$3,019
29 years$18,946$13,752$9,805$6,885$4,775$2,659
30 years$18,117$12,988$9,133$6,319$4,314$2,343
31 years$17,342$12,278$8,514$5,803$3,901$2,066
32 years$16,618$11,617$7,944$5,333$3,528$1,822
33 years$15,939$11,002$7,417$4,904$3,193$1,607
34 years$15,301$10,427$6,930$4,512$2,891$1,418
35 years$14,701$9,890$6,479$4,154$2,619$1,251
36 years$14,135$9,387$6,061$3,826$2,373$1,105
37 years$13,602$8,915$5,673$3,525$2,150$975
38 years$13,097$8,473$5,313$3,249$1,949$861
39 years$12,620$8,057$4,977$2,996$1,768$761
40 years$12,168$7,665$4,665$2,763$1,604$672
41 years$11,739$7,297$4,375$2,549$1,455$594
42 years$11,331$6,949$4,104$2,353$1,320$525
43 years$10,943$6,621$3,851$2,172$1,198$463
44 years$10,574$6,311$3,614$2,005$1,087$410
45 years$10,223$6,018$3,394$1,852$987$362
46 years$9,888$5,741$3,188$1,711$896$320
47 years$9,568$5,479$2,995$1,580$814$283
48 years$9,262$5,230$2,814$1,460$739$250
49 years$8,969$4,995$2,645$1,350$671$221
50 years$8,690$4,771$2,487$1,248$610$195

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 $4,847 every year, while hoping to spend $36,445 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: 49/26/25 Blend
73$8,900,000$8,900,000$8,900,000$8,900,000
74$9,812,800$9,341,100$9,203,150$10,223,915
75$10,774,928$9,760,036$9,472,678$10,930,458
76$11,833,972$10,198,279$9,750,014$11,693,591
77$12,999,779$10,656,737$10,035,381$12,521,964
78$14,283,198$11,136,358$10,329,008$13,421,755
79$15,696,185$11,638,141$10,631,131$14,399,752
80$17,251,914$12,163,128$10,941,992$15,463,417
81$18,964,901$12,712,413$11,261,841$16,620,950
82$20,851,142$13,287,142$11,590,933$17,881,367
83$22,928,261$13,888,515$11,929,532$19,254,582
84$25,215,682$14,517,790$12,277,909$20,751,495
85$27,734,804$15,176,285$12,636,342$22,384,093
86$30,509,211$15,865,380$13,005,116$24,165,562
87$33,564,890$16,586,522$13,384,527$26,110,404
88$36,930,475$17,341,229$13,774,875$28,234,574
89$40,637,522$18,131,088$14,176,472$30,555,624
90$44,720,803$18,957,764$14,589,637$33,092,867
91$49,218,633$19,823,003$15,014,698$35,867,554
92$54,173,235$20,728,632$15,451,992$38,903,070
93$59,631,137$21,676,567$15,901,866$42,225,151
94$65,643,611$22,668,816$16,364,677$45,862,123
95$72,267,155$23,707,484$16,840,789$49,845,163
96$79,564,029$24,794,775$17,330,580$54,208,588
97$87,602,842$25,933,001$17,834,436$58,990,176
98$96,459,197$27,124,583$18,352,754$64,231,515
99$106,216,407$28,372,060$18,885,944$69,978,390
100$116,966,281$29,678,091$19,434,424$76,281,211