Can I retire at age 74 with 1,950,000?

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 $1,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$161,029$159,595$158,195$156,829$155,496$152,232
2 years$79,717$78,233$76,794$75,399$74,046$70,773
3 years$52,617$51,126$49,691$48,309$46,978$43,798
4 years$39,070$37,583$36,162$34,804$33,505$30,442
5 years$30,943$29,466$28,063$26,733$25,470$22,534
6 years$25,527$24,061$22,679$21,378$20,153$17,347
7 years$21,660$20,206$18,847$17,576$16,390$13,713
8 years$18,761$17,320$15,983$14,744$13,597$11,049
9 years$16,508$15,081$13,767$12,559$11,451$9,030
10 years$14,706$13,293$12,002$10,826$9,757$7,461
11 years$13,233$11,834$10,566$9,422$8,391$6,218
12 years$12,006$10,621$9,377$8,264$7,271$5,217
13 years$10,969$9,599$8,378$7,296$6,341$4,401
14 years$10,081$8,725$7,528$6,477$5,558$3,730
15 years$9,312$7,970$6,797$5,776$4,894$3,173
16 years$8,639$7,313$6,162$5,172$4,325$2,708
17 years$8,047$6,735$5,607$4,647$3,835$2,317
18 years$7,520$6,223$5,119$4,188$3,410$1,987
19 years$7,050$5,768$4,686$3,784$3,039$1,707
20 years$6,627$5,359$4,300$3,427$2,715$1,468
21 years$6,245$4,992$3,956$3,110$2,430$1,265
22 years$5,899$4,660$3,646$2,828$2,178$1,091
23 years$5,583$4,358$3,366$2,575$1,955$942
24 years$5,293$4,084$3,113$2,349$1,757$814
25 years$5,027$3,832$2,883$2,145$1,581$704
26 years$4,782$3,602$2,674$1,961$1,424$609
27 years$4,556$3,390$2,483$1,795$1,284$528
28 years$4,346$3,194$2,308$1,645$1,159$457
29 years$4,151$3,013$2,148$1,508$1,046$396
30 years$3,969$2,846$2,001$1,384$945$343
31 years$3,800$2,690$1,865$1,271$855$298
32 years$3,641$2,545$1,741$1,169$773$258
33 years$3,492$2,410$1,625$1,075$700$224
34 years$3,352$2,285$1,518$989$633$194
35 years$3,221$2,167$1,420$910$574$169
36 years$3,097$2,057$1,328$838$520$146
37 years$2,980$1,953$1,243$772$471$127
38 years$2,870$1,856$1,164$712$427$110
39 years$2,765$1,765$1,091$656$387$96
40 years$2,666$1,679$1,022$605$351$83
41 years$2,572$1,599$958$559$319$72
42 years$2,483$1,523$899$515$289$63
43 years$2,398$1,451$844$476$262$54
44 years$2,317$1,383$792$439$238$47
45 years$2,240$1,319$744$406$216$41
46 years$2,166$1,258$698$375$196$36
47 years$2,096$1,200$656$346$178$31
48 years$2,029$1,146$617$320$162$27
49 years$1,965$1,094$580$296$147$23
50 years$1,904$1,045$545$273$134$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,950,000, adding $6,412 every year, while hoping to spend $27,090 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: 78/9/13 Blend
73$1,950,000$1,950,000$1,950,000$1,950,000
74$2,155,514$2,052,164$2,021,939$2,317,612
75$2,346,553$2,123,896$2,060,850$2,496,951
76$2,556,170$2,198,236$2,100,157$2,689,509
77$2,786,231$2,275,281$2,139,845$2,899,950
78$3,038,793$2,355,136$2,179,895$3,130,047
79$3,316,119$2,437,907$2,220,291$3,381,755
80$3,620,705$2,523,706$2,261,013$3,657,227
81$3,955,298$2,612,649$2,302,038$3,958,833
82$4,322,926$2,704,857$2,343,344$4,289,183
83$4,726,924$2,800,454$2,384,906$4,651,152
84$5,170,966$2,899,573$2,426,696$5,047,909
85$5,659,100$3,002,347$2,468,686$5,482,940
86$6,195,786$3,108,920$2,510,845$5,960,089
87$6,785,937$3,219,438$2,553,138$6,483,588
88$7,434,966$3,334,053$2,595,532$7,058,100
89$8,148,837$3,452,926$2,637,986$7,688,762
90$8,934,121$3,576,223$2,680,462$8,381,231
91$9,798,058$3,704,115$2,722,914$9,141,743
92$10,748,626$3,836,782$2,765,298$9,977,164
93$11,794,613$3,974,412$2,807,563$10,895,061
94$12,945,705$4,117,199$2,849,657$11,903,770
95$14,212,571$4,265,346$2,891,524$13,012,473
96$15,606,969$4,419,063$2,933,106$14,231,290
97$17,141,854$4,578,572$2,974,340$15,571,369
98$18,831,501$4,744,100$3,015,158$17,044,992
99$20,691,639$4,915,886$3,055,491$18,665,693
100$22,739,600$5,094,178$3,095,264$20,448,384