Can I retire at age 74 with 6,000,000?

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 $6,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$495,474$491,061$486,755$482,552$478,448$462,948
2 years$245,284$240,716$236,289$231,996$227,833$212,361
3 years$161,899$157,311$152,895$148,642$144,546$129,590
4 years$120,214$115,640$111,268$107,088$103,092$88,765
5 years$95,210$90,663$86,349$82,254$78,369$64,710
6 years$78,545$74,033$69,782$65,779$62,010$49,031
7 years$66,647$62,173$57,990$54,081$50,431$38,129
8 years$57,728$53,294$49,180$45,367$41,837$30,205
9 years$50,794$46,402$42,359$38,643$35,233$24,256
10 years$45,250$40,901$36,929$33,310$30,020$19,682
11 years$40,717$36,412$32,512$28,990$25,819$16,100
12 years$36,942$32,681$28,853$25,428$22,374$13,253
13 years$33,751$29,534$25,779$22,449$19,510$10,965
14 years$31,018$26,846$23,162$19,928$17,103$9,110
15 years$28,651$24,524$20,912$17,772$15,059$7,594
16 years$26,582$22,500$18,960$15,913$13,309$6,347
17 years$24,759$20,722$17,253$14,298$11,801$5,317
18 years$23,140$19,148$15,750$12,885$10,492$4,463
19 years$21,693$17,746$14,418$11,643$9,352$3,751
20 years$20,392$16,491$13,232$10,545$8,354$3,157
21 years$19,217$15,360$12,171$9,570$7,475$2,660
22 years$18,150$14,338$11,218$8,701$6,701$2,244
23 years$17,177$13,410$10,357$7,925$6,015$1,894
24 years$16,287$12,565$9,579$7,228$5,406$1,599
25 years$15,469$11,791$8,872$6,601$4,865$1,351
26 years$14,715$11,082$8,228$6,035$4,382$1,142
27 years$14,018$10,429$7,641$5,524$3,951$966
28 years$13,373$9,828$7,103$5,061$3,565$817
29 years$12,773$9,271$6,610$4,641$3,219$692
30 years$12,213$8,756$6,157$4,260$2,909$585
31 years$11,691$8,277$5,740$3,912$2,630$495
32 years$11,203$7,832$5,355$3,595$2,379$420
33 years$10,745$7,417$5,000$3,306$2,153$355
34 years$10,315$7,029$4,672$3,042$1,949$301
35 years$9,911$6,667$4,368$2,800$1,765$255
36 years$9,529$6,328$4,086$2,579$1,599$216
37 years$9,170$6,010$3,825$2,376$1,450$183
38 years$8,830$5,712$3,582$2,190$1,314$155
39 years$8,508$5,432$3,356$2,020$1,192$131
40 years$8,203$5,168$3,145$1,863$1,081$111
41 years$7,914$4,919$2,949$1,719$981$94
42 years$7,639$4,685$2,766$1,586$890$80
43 years$7,378$4,464$2,596$1,464$808$68
44 years$7,129$4,255$2,437$1,352$733$57
45 years$6,892$4,057$2,288$1,248$666$49
46 years$6,666$3,871$2,149$1,153$604$41
47 years$6,450$3,694$2,019$1,065$549$35
48 years$6,244$3,526$1,897$985$498$30
49 years$6,047$3,367$1,783$910$453$25
50 years$5,858$3,217$1,677$841$411$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $6,000,000, adding $4,968 every year, while hoping to spend $58,471 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: 73/5/22 Blend
73$6,000,000$6,000,000$6,000,000$6,000,000
74$6,617,124$6,299,124$6,206,124$7,064,256
75$7,229,858$6,545,569$6,351,817$7,608,903
76$7,903,132$6,802,129$6,500,430$8,197,936
77$8,643,057$7,069,240$6,652,001$8,841,820
78$9,456,370$7,347,354$6,806,564$9,546,003
79$10,350,490$7,636,944$6,964,154$10,316,489
80$11,333,592$7,938,506$7,124,805$11,159,886
81$12,414,682$8,252,557$7,288,550$12,083,475
82$13,603,682$8,579,635$7,455,419$13,095,273
83$14,911,526$8,920,305$7,625,443$14,204,113
84$16,350,258$9,275,156$7,798,652$15,419,721
85$17,933,150$9,644,804$7,975,073$16,752,814
86$19,674,824$10,029,893$8,154,731$18,215,193
87$21,591,393$10,431,095$8,337,652$19,819,863
88$23,700,609$10,849,112$8,523,857$21,581,144
89$26,022,032$11,284,680$8,713,367$23,514,818
90$28,577,215$11,738,565$8,906,200$25,638,266
91$31,389,906$12,211,569$9,102,373$27,970,640
92$34,486,273$12,704,533$9,301,899$30,533,036
93$37,895,149$13,218,331$9,504,788$33,348,700
94$41,648,305$13,753,880$9,711,050$36,443,240
95$45,780,751$14,312,139$9,920,689$39,844,871
96$50,331,062$14,894,108$10,133,706$43,584,680
97$55,341,747$15,500,836$10,350,101$47,696,916
98$60,859,643$16,133,415$10,569,869$52,219,318
99$66,936,366$16,792,992$10,792,999$57,193,463
100$73,628,790$17,480,763$11,019,478$62,665,166