Can I retire at age 74 with 8,700,000?

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 $8,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$718,438$712,038$705,795$699,701$693,750$676,156
2 years$355,662$349,038$342,619$336,395$330,357$312,746
3 years$234,753$228,100$221,697$215,531$209,592$192,514
4 years$174,310$167,678$161,339$155,278$149,483$133,069
5 years$138,054$131,462$125,205$119,269$113,635$97,931
6 years$113,891$107,348$101,185$95,380$89,915$74,938
7 years$96,638$90,151$84,085$78,417$73,125$58,875
8 years$83,705$77,276$71,311$65,782$60,664$47,135
9 years$73,651$67,283$61,420$56,032$51,088$38,268
10 years$65,612$59,306$53,547$48,300$43,530$31,403
11 years$59,040$52,797$47,142$42,035$37,437$25,987
12 years$53,566$47,388$41,837$36,871$32,442$21,648
13 years$48,939$42,825$37,379$32,551$28,290$18,130
14 years$44,976$38,926$33,585$28,895$24,799$15,251
15 years$41,544$35,560$30,323$25,770$21,835$12,875
16 years$38,544$32,626$27,492$23,074$19,298$10,901
17 years$35,900$30,047$25,017$20,732$17,111$9,253
18 years$33,553$27,765$22,837$18,683$15,214$7,870
19 years$31,454$25,732$20,906$16,882$13,561$6,706
20 years$29,569$23,911$19,187$15,290$12,113$5,722
21 years$27,864$22,273$17,648$13,877$10,839$4,889
22 years$26,317$20,791$16,265$12,617$9,716$4,181
23 years$24,907$19,445$15,018$11,491$8,722$3,579
24 years$23,616$18,219$13,889$10,480$7,839$3,066
25 years$22,430$17,097$12,864$9,571$7,054$2,628
26 years$21,337$16,069$11,931$8,751$6,354$2,255
27 years$20,327$15,123$11,079$8,010$5,729$1,935
28 years$19,390$14,250$10,299$7,339$5,169$1,661
29 years$18,520$13,443$9,584$6,730$4,668$1,426
30 years$17,709$12,696$8,928$6,177$4,217$1,225
31 years$16,953$12,002$8,323$5,673$3,813$1,053
32 years$16,244$11,356$7,765$5,213$3,449$905
33 years$15,580$10,754$7,251$4,794$3,121$778
34 years$14,957$10,193$6,775$4,411$2,826$669
35 years$14,370$9,668$6,334$4,061$2,560$575
36 years$13,818$9,176$5,925$3,740$2,319$494
37 years$13,296$8,715$5,546$3,446$2,102$425
38 years$12,803$8,282$5,193$3,176$1,906$366
39 years$12,336$7,876$4,866$2,928$1,728$315
40 years$11,894$7,493$4,561$2,701$1,567$271
41 years$11,475$7,133$4,276$2,492$1,422$233
42 years$11,076$6,793$4,011$2,300$1,290$200
43 years$10,697$6,472$3,764$2,123$1,171$172
44 years$10,337$6,169$3,533$1,960$1,063$148
45 years$9,993$5,883$3,318$1,810$965$128
46 years$9,665$5,612$3,116$1,672$876$110
47 years$9,353$5,356$2,927$1,545$796$94
48 years$9,054$5,113$2,751$1,428$723$81
49 years$8,768$4,883$2,586$1,319$656$70
50 years$8,494$4,664$2,431$1,219$596$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $8,700,000, adding $3,695 every year, while hoping to spend $44,085 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: 63/8/29 Blend
73$8,700,000$8,700,000$8,700,000$8,700,000
74$9,591,211$9,130,111$8,995,261$10,120,711
75$10,522,609$9,530,581$9,249,697$10,881,159
76$11,547,531$9,949,196$9,511,178$11,706,337
77$12,675,472$10,386,798$9,779,894$12,606,802
78$13,916,890$10,844,272$10,056,041$13,589,948
79$15,283,311$11,322,540$10,339,817$14,663,914
80$16,787,435$11,822,570$10,631,427$15,837,659
81$18,443,254$12,345,376$10,931,080$17,121,047
82$20,266,187$12,892,021$11,238,992$18,524,935
83$22,273,223$13,463,614$11,555,383$20,061,278
84$24,483,083$14,061,323$11,880,480$21,743,239
85$26,916,395$14,686,366$12,214,514$23,585,312
86$29,595,891$15,340,021$12,557,724$25,603,455
87$32,546,617$16,023,627$12,910,352$27,815,244
88$35,796,173$16,738,586$13,272,650$30,240,033
89$39,374,972$17,486,367$13,644,874$32,899,138
90$43,316,529$18,268,508$14,027,286$35,816,032
91$47,657,771$19,086,621$14,420,157$39,016,572
92$52,439,393$19,942,395$14,823,762$42,529,233
93$57,706,237$20,837,598$15,238,384$46,385,381
94$63,507,717$21,774,085$15,664,313$50,619,565
95$69,898,285$22,753,795$16,101,848$55,269,841
96$76,937,943$23,778,764$16,551,293$60,378,129
97$84,692,812$24,851,123$17,012,961$65,990,606
98$93,235,755$25,973,103$17,487,171$72,158,142
99$102,647,062$27,147,046$17,974,251$78,936,774
100$113,015,213$28,375,401$18,474,539$86,388,235