Can I retire at age 74 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$693,664$687,485$681,457$675,573$669,828$654,699
2 years$343,398$337,003$330,804$324,795$318,966$303,805
3 years$226,658$220,235$214,052$208,099$202,365$187,645
4 years$168,299$161,896$155,775$149,924$144,328$130,163
5 years$133,293$126,928$120,888$115,156$109,716$96,146
6 years$109,964$103,647$97,695$92,091$86,815$73,853
7 years$93,306$87,042$81,185$75,713$70,604$58,253
8 years$80,819$74,611$68,852$63,514$58,572$46,828
9 years$71,111$64,963$59,302$54,100$49,326$38,179
10 years$63,350$57,261$51,701$46,634$42,029$31,467
11 years$57,004$50,976$45,517$40,586$36,146$26,156
12 years$51,719$45,754$40,395$35,599$31,323$21,888
13 years$47,251$41,348$36,090$31,429$27,315$18,418
14 years$43,425$37,584$32,427$27,899$23,944$15,567
15 years$40,111$34,334$29,277$24,881$21,082$13,206
16 years$37,215$31,501$26,544$22,278$18,632$11,238
17 years$34,662$29,011$24,154$20,017$16,521$9,587
18 years$32,396$26,807$22,050$18,039$14,689$8,197
19 years$30,370$24,845$20,185$16,300$13,093$7,020
20 years$28,549$23,087$18,525$14,763$11,695$6,022
21 years$26,904$21,505$17,040$13,398$10,466$5,173
22 years$25,410$20,074$15,705$12,182$9,381$4,448
23 years$24,048$18,775$14,500$11,094$8,421$3,829
24 years$22,802$17,591$13,410$10,119$7,569$3,298
25 years$21,656$16,508$12,421$9,241$6,811$2,843
26 years$20,601$15,515$11,520$8,449$6,135$2,453
27 years$19,626$14,601$10,697$7,734$5,531$2,117
28 years$18,722$13,759$9,944$7,086$4,991$1,827
29 years$17,882$12,980$9,254$6,498$4,507$1,578
30 years$17,099$12,258$8,620$5,964$4,072$1,364
31 years$16,368$11,588$8,036$5,477$3,682$1,179
32 years$15,684$10,964$7,498$5,034$3,330$1,019
33 years$15,043$10,383$7,001$4,629$3,014$881
34 years$14,441$9,841$6,541$4,259$2,729$762
35 years$13,875$9,334$6,115$3,921$2,471$659
36 years$13,341$8,860$5,721$3,611$2,239$570
37 years$12,837$8,415$5,354$3,327$2,030$493
38 years$12,361$7,997$5,014$3,066$1,840$427
39 years$11,911$7,604$4,698$2,827$1,669$369
40 years$11,484$7,235$4,403$2,608$1,513$319
41 years$11,079$6,887$4,129$2,406$1,373$276
42 years$10,694$6,559$3,873$2,221$1,246$239
43 years$10,329$6,249$3,634$2,050$1,131$207
44 years$9,980$5,957$3,411$1,893$1,026$179
45 years$9,649$5,680$3,203$1,748$932$155
46 years$9,332$5,419$3,009$1,615$846$134
47 years$9,030$5,171$2,826$1,492$768$116
48 years$8,741$4,937$2,656$1,378$698$101
49 years$8,465$4,714$2,497$1,274$634$87
50 years$8,201$4,503$2,347$1,177$575$75

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $8,400,000, adding $3,076 every year, while hoping to spend $22,482 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: 55/34/11 Blend
73$8,400,000$8,400,000$8,400,000$8,400,000
74$9,259,973$8,814,773$8,684,573$9,743,410
75$10,180,569$9,222,776$8,951,585$10,479,328
76$11,194,313$9,650,018$9,226,789$11,277,482
77$12,310,682$10,097,417$9,510,435$12,145,989
78$13,540,118$10,565,938$9,802,782$13,091,549
79$14,894,130$11,056,589$10,104,095$14,121,529
80$16,385,398$11,570,428$10,414,649$15,244,024
81$18,027,896$12,108,566$10,734,727$16,467,929
82$19,837,021$12,672,165$11,064,619$17,803,026
83$21,829,740$13,262,445$11,404,627$19,260,068
84$24,024,751$13,880,682$11,755,060$20,850,877
85$26,442,657$14,528,217$12,116,236$22,588,456
86$29,106,162$15,206,453$12,488,483$24,487,104
87$32,040,285$15,916,863$12,872,142$26,562,548
88$35,272,594$16,660,991$13,267,559$28,832,087
89$38,833,472$17,440,452$13,675,096$31,314,755
90$42,756,396$18,256,944$14,095,121$34,031,489
91$47,078,259$19,112,245$14,528,018$37,005,327
92$51,839,714$20,008,217$14,974,179$40,261,619
93$57,085,560$20,946,816$15,434,010$43,828,260
94$62,865,166$21,930,088$15,907,928$47,735,952
95$69,232,934$22,960,183$16,396,364$52,018,481
96$76,248,813$24,039,352$16,899,762$56,713,038
97$83,978,866$25,169,955$17,418,579$61,860,556
98$92,495,894$26,354,466$17,953,284$67,506,096
99$101,880,121$27,595,481$18,504,365$73,699,264
100$112,219,953$28,895,719$19,072,321$80,494,668