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

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 $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%12.6%
1 years$125,520$124,402$123,311$122,247$121,207$119,891
2 years$62,139$60,981$59,860$58,772$57,718$56,393
3 years$41,014$39,852$38,733$37,656$36,618$35,326
4 years$30,454$29,295$28,188$27,129$26,117$24,866
5 years$24,120$22,968$21,875$20,838$19,853$18,648
6 years$19,898$18,755$17,678$16,664$15,709$14,552
7 years$16,884$15,751$14,691$13,700$12,776$11,666
8 years$14,624$13,501$12,459$11,493$10,599$9,536
9 years$12,868$11,755$10,731$9,789$8,926$7,910
10 years$11,463$10,362$9,355$8,439$7,605$6,636
11 years$10,315$9,224$8,236$7,344$6,541$5,618
12 years$9,359$8,279$7,310$6,442$5,668$4,790
13 years$8,550$7,482$6,531$5,687$4,943$4,108
14 years$7,858$6,801$5,868$5,048$4,333$3,541
15 years$7,258$6,213$5,298$4,502$3,815$3,064
16 years$6,734$5,700$4,803$4,031$3,372$2,661
17 years$6,272$5,250$4,371$3,622$2,989$2,317
18 years$5,862$4,851$3,990$3,264$2,658$2,023
19 years$5,495$4,496$3,653$2,950$2,369$1,770
20 years$5,166$4,178$3,352$2,671$2,116$1,552
21 years$4,868$3,891$3,083$2,424$1,894$1,363
22 years$4,598$3,632$2,842$2,204$1,698$1,198
23 years$4,352$3,397$2,624$2,008$1,524$1,055
24 years$4,126$3,183$2,427$1,831$1,370$929
25 years$3,919$2,987$2,248$1,672$1,232$820
26 years$3,728$2,807$2,084$1,529$1,110$724
27 years$3,551$2,642$1,936$1,399$1,001$639
28 years$3,388$2,490$1,799$1,282$903$565
29 years$3,236$2,349$1,675$1,176$815$500
30 years$3,094$2,218$1,560$1,079$737$442
31 years$2,962$2,097$1,454$991$666$391
32 years$2,838$1,984$1,357$911$603$347
33 years$2,722$1,879$1,267$838$545$307
34 years$2,613$1,781$1,184$771$494$272
35 years$2,511$1,689$1,107$709$447$241
36 years$2,414$1,603$1,035$653$405$214
37 years$2,323$1,523$969$602$367$190
38 years$2,237$1,447$907$555$333$168
39 years$2,155$1,376$850$512$302$149
40 years$2,078$1,309$797$472$274$132
41 years$2,005$1,246$747$435$248$117
42 years$1,935$1,187$701$402$225$104
43 years$1,869$1,131$658$371$205$92
44 years$1,806$1,078$617$342$186$82
45 years$1,746$1,028$580$316$169$73
46 years$1,689$981$544$292$153$65
47 years$1,634$936$511$270$139$57
48 years$1,582$893$481$249$126$51
49 years$1,532$853$452$231$115$45
50 years$1,484$815$425$213$104$40

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 $5,461 every year, while hoping to spend $58,595 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: 47/25/28 Blend
73$1,520,000$1,520,000$1,520,000$1,520,000
74$1,680,673$1,600,113$1,576,553$1,745,948
75$1,789,757$1,616,174$1,567,023$1,808,631
76$1,908,004$1,631,058$1,555,210$1,870,497
77$2,036,286$1,644,646$1,540,975$1,936,524
78$2,175,563$1,656,810$1,524,174$2,007,135
79$2,326,892$1,667,414$1,504,655$2,082,797
80$2,491,432$1,676,315$1,482,258$2,164,027
81$2,670,463$1,683,359$1,456,818$2,251,399
82$2,865,389$1,688,382$1,428,161$2,345,548
83$3,077,758$1,691,212$1,396,103$2,447,177
84$3,309,271$1,691,663$1,360,454$2,557,065
85$3,561,802$1,689,541$1,321,015$2,676,072
86$3,837,414$1,684,636$1,277,577$2,805,152
87$4,138,376$1,676,729$1,229,922$2,945,360
88$4,467,187$1,665,585$1,177,820$3,097,863
89$4,826,597$1,650,956$1,121,035$3,263,951
90$5,219,635$1,632,578$1,059,315$3,445,053
91$5,649,636$1,610,173$992,400$3,642,745
92$6,120,272$1,583,444$920,018$3,858,775
93$6,635,585$1,552,078$841,885$4,095,072
94$7,200,028$1,515,744$757,701$4,353,769
95$7,818,505$1,474,088$667,157$4,637,223
96$8,496,414$1,426,740$569,929$4,948,040
97$9,239,703$1,373,305$465,676$5,289,099
98$10,054,922$1,313,367$354,046$5,663,582
99$10,949,285$1,246,483$234,668$6,075,002
100$11,930,740$1,172,189$107,157$6,527,241