Can I retire at age 74 with 1,520,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$125,520$124,402$123,311$122,247$121,207$119,742
2 years$62,139$60,981$59,860$58,772$57,718$56,243
3 years$41,014$39,852$38,733$37,656$36,618$35,181
4 years$30,454$29,295$28,188$27,129$26,117$24,726
5 years$24,120$22,968$21,875$20,838$19,853$18,515
6 years$19,898$18,755$17,678$16,664$15,709$14,424
7 years$16,884$15,751$14,691$13,700$12,776$11,544
8 years$14,624$13,501$12,459$11,493$10,599$9,421
9 years$12,868$11,755$10,731$9,789$8,926$7,801
10 years$11,463$10,362$9,355$8,439$7,605$6,532
11 years$10,315$9,224$8,236$7,344$6,541$5,519
12 years$9,359$8,279$7,310$6,442$5,668$4,697
13 years$8,550$7,482$6,531$5,687$4,943$4,021
14 years$7,858$6,801$5,868$5,048$4,333$3,458
15 years$7,258$6,213$5,298$4,502$3,815$2,987
16 years$6,734$5,700$4,803$4,031$3,372$2,588
17 years$6,272$5,250$4,371$3,622$2,989$2,249
18 years$5,862$4,851$3,990$3,264$2,658$1,960
19 years$5,495$4,496$3,653$2,950$2,369$1,711
20 years$5,166$4,178$3,352$2,671$2,116$1,497
21 years$4,868$3,891$3,083$2,424$1,894$1,311
22 years$4,598$3,632$2,842$2,204$1,698$1,150
23 years$4,352$3,397$2,624$2,008$1,524$1,010
24 years$4,126$3,183$2,427$1,831$1,370$888
25 years$3,919$2,987$2,248$1,672$1,232$781
26 years$3,728$2,807$2,084$1,529$1,110$688
27 years$3,551$2,642$1,936$1,399$1,001$606
28 years$3,388$2,490$1,799$1,282$903$535
29 years$3,236$2,349$1,675$1,176$815$472
30 years$3,094$2,218$1,560$1,079$737$416
31 years$2,962$2,097$1,454$991$666$368
32 years$2,838$1,984$1,357$911$603$325
33 years$2,722$1,879$1,267$838$545$287
34 years$2,613$1,781$1,184$771$494$254
35 years$2,511$1,689$1,107$709$447$224
36 years$2,414$1,603$1,035$653$405$198
37 years$2,323$1,523$969$602$367$175
38 years$2,237$1,447$907$555$333$155
39 years$2,155$1,376$850$512$302$137
40 years$2,078$1,309$797$472$274$121
41 years$2,005$1,246$747$435$248$107
42 years$1,935$1,187$701$402$225$95
43 years$1,869$1,131$658$371$205$84
44 years$1,806$1,078$617$342$186$75
45 years$1,746$1,028$580$316$169$66
46 years$1,689$981$544$292$153$58
47 years$1,634$936$511$270$139$52
48 years$1,582$893$481$249$126$46
49 years$1,532$853$452$231$115$41
50 years$1,484$815$425$213$104$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,520,000, adding $4,885 every year, while hoping to spend $39,723 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: 67/13/20 Blend
73$1,520,000$1,520,000$1,520,000$1,520,000
74$1,680,079$1,599,519$1,575,959$1,783,936
75$1,809,182$1,635,630$1,586,489$1,890,210
76$1,950,122$1,672,180$1,596,040$2,001,339
77$2,104,065$1,709,147$1,604,537$2,121,911
78$2,272,294$1,746,509$1,611,903$2,252,853
79$2,456,220$1,784,241$1,618,055$2,395,190
80$2,657,400$1,822,314$1,622,905$2,550,046
81$2,877,546$1,860,698$1,626,363$2,718,664
82$3,118,543$1,899,360$1,628,334$2,902,412
83$3,382,467$1,938,262$1,628,716$3,102,797
84$3,671,606$1,977,363$1,627,405$3,321,479
85$3,988,476$2,016,621$1,624,289$3,560,291
86$4,335,852$2,055,986$1,619,254$3,821,247
87$4,716,788$2,095,409$1,612,178$4,106,573
88$5,134,647$2,134,831$1,602,933$4,418,718
89$5,593,136$2,174,192$1,591,386$4,760,382
90$6,096,335$2,213,427$1,577,397$5,134,540
91$6,648,741$2,252,464$1,560,819$5,544,472
92$7,255,305$2,291,227$1,541,499$5,993,794
93$7,921,483$2,329,635$1,519,276$6,486,488
94$8,653,285$2,367,597$1,493,983$7,026,944
95$9,457,330$2,405,020$1,465,441$7,620,002
96$10,340,912$2,441,801$1,433,469$8,270,995
97$11,312,067$2,477,830$1,397,871$8,985,800
98$12,379,645$2,512,991$1,358,447$9,770,896
99$13,553,399$2,547,158$1,314,985$10,633,423
100$14,844,073$2,580,196$1,267,265$11,581,249