Can I retire at age 74 with 6,200,000?

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 $6,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$511,990$507,430$502,980$498,637$494,397$481,468
2 years$253,460$248,740$244,165$239,729$235,427$222,490
3 years$167,295$162,554$157,991$153,597$149,365$136,824
4 years$124,221$119,495$114,977$110,658$106,528$94,480
5 years$98,383$93,685$89,227$84,996$80,981$69,459
6 years$81,164$76,501$72,109$67,972$64,077$53,092
7 years$68,869$64,245$59,923$55,883$52,112$41,665
8 years$59,652$55,070$50,819$46,879$43,232$33,317
9 years$52,487$47,949$43,770$39,931$36,408$27,017
10 years$46,758$42,264$38,160$34,421$31,021$22,143
11 years$42,074$37,625$33,596$29,956$26,679$18,300
12 years$38,174$33,771$29,815$26,276$23,120$15,225
13 years$34,876$30,519$26,638$23,198$20,161$12,734
14 years$32,052$27,741$23,934$20,592$17,673$10,697
15 years$29,606$25,342$21,609$18,365$15,561$9,017
16 years$27,468$23,250$19,592$16,443$13,752$7,624
17 years$25,584$21,413$17,828$14,774$12,194$6,462
18 years$23,911$19,786$16,275$13,315$10,842$5,488
19 years$22,416$18,338$14,899$12,031$9,664$4,669
20 years$21,072$17,040$13,673$10,896$8,632$3,978
21 years$19,857$15,872$12,577$9,889$7,725$3,394
22 years$18,755$14,816$11,591$8,991$6,924$2,898
23 years$17,750$13,857$10,703$8,189$6,215$2,477
24 years$16,830$12,984$9,898$7,469$5,587$2,119
25 years$15,985$12,184$9,168$6,821$5,027$1,813
26 years$15,206$11,451$8,503$6,237$4,528$1,553
27 years$14,486$10,777$7,895$5,708$4,083$1,330
28 years$13,818$10,155$7,340$5,230$3,684$1,140
29 years$13,198$9,580$6,830$4,796$3,326$978
30 years$12,621$9,048$6,362$4,402$3,006$838
31 years$12,081$8,553$5,931$4,043$2,717$719
32 years$11,576$8,093$5,534$3,715$2,458$617
33 years$11,103$7,664$5,167$3,416$2,224$529
34 years$10,659$7,264$4,828$3,143$2,014$454
35 years$10,241$6,890$4,514$2,894$1,824$390
36 years$9,847$6,539$4,222$2,665$1,653$335
37 years$9,475$6,211$3,952$2,455$1,498$288
38 years$9,124$5,902$3,701$2,263$1,358$247
39 years$8,791$5,613$3,467$2,087$1,232$212
40 years$8,476$5,340$3,250$1,925$1,117$182
41 years$8,177$5,083$3,047$1,776$1,013$156
42 years$7,894$4,841$2,859$1,639$920$134
43 years$7,624$4,612$2,682$1,513$835$115
44 years$7,366$4,397$2,518$1,397$758$99
45 years$7,122$4,193$2,364$1,290$688$85
46 years$6,888$4,000$2,221$1,192$624$73
47 years$6,665$3,817$2,086$1,101$567$63
48 years$6,452$3,644$1,960$1,017$515$54
49 years$6,248$3,480$1,843$940$468$46
50 years$6,053$3,324$1,732$869$425$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $6,200,000, adding $3,307 every year, while hoping to spend $27,016 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: 55/16/29 Blend
73$6,200,000$6,200,000$6,200,000$6,200,000
74$6,835,811$6,507,211$6,411,111$7,156,610
75$7,504,319$6,797,320$6,597,139$7,668,609
76$8,240,109$7,100,738$6,788,492$8,222,915
77$9,050,016$7,418,090$6,985,323$8,826,126
78$9,941,570$7,750,029$7,187,783$9,482,961
79$10,923,069$8,097,239$7,396,033$10,198,611
80$12,003,656$8,460,437$7,610,233$10,978,789
81$13,193,405$8,840,375$7,830,552$11,829,775
82$14,503,417$9,237,838$8,057,161$12,758,483
83$15,945,927$9,653,653$8,290,237$13,772,517
84$17,534,411$10,088,682$8,529,960$14,880,247
85$19,283,724$10,543,831$8,776,517$16,090,882
86$21,210,232$11,020,047$9,030,098$17,414,560
87$23,331,971$11,518,324$9,290,901$18,862,437
88$25,668,813$12,039,703$9,559,128$20,446,794
89$28,242,658$12,585,274$9,834,984$22,181,148
90$31,077,637$13,156,181$10,118,684$24,080,382
91$34,200,343$13,753,620$10,410,447$26,160,880
92$37,640,077$14,378,847$10,710,496$28,440,679
93$41,429,130$15,033,175$11,019,063$30,939,642
94$45,603,084$15,717,983$11,336,384$33,679,636
95$50,201,149$16,434,715$11,662,703$36,684,743
96$55,266,532$17,184,883$11,998,271$39,981,479
97$60,846,849$17,970,072$12,343,343$43,599,046
98$66,994,566$18,791,944$12,698,183$47,569,603
99$73,767,503$19,652,241$13,063,063$51,928,568
100$81,229,373$20,552,785$13,438,261$56,714,948