Can I retire at age 74 with 1,960,000?

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$161,855$160,413$159,007$157,634$156,293$155,178
2 years$80,126$78,634$77,188$75,785$74,425$73,301
3 years$52,887$51,388$49,946$48,556$47,218$46,120
4 years$39,270$37,776$36,348$34,982$33,677$32,612
5 years$31,102$29,617$28,207$26,870$25,600$24,573
6 years$25,658$24,184$22,796$21,488$20,257$19,267
7 years$21,771$20,310$18,943$17,666$16,474$15,524
8 years$18,858$17,409$16,065$14,820$13,667$12,755
9 years$16,593$15,158$13,837$12,623$11,510$10,636
10 years$14,782$13,361$12,064$10,881$9,807$8,972
11 years$13,301$11,894$10,621$9,470$8,434$7,637
12 years$12,068$10,676$9,425$8,307$7,309$6,548
13 years$11,025$9,648$8,421$7,333$6,373$5,649
14 years$10,132$8,770$7,566$6,510$5,587$4,898
15 years$9,359$8,011$6,831$5,806$4,919$4,264
16 years$8,684$7,350$6,194$5,198$4,348$3,726
17 years$8,088$6,769$5,636$4,671$3,855$3,265
18 years$7,559$6,255$5,145$4,209$3,428$2,869
19 years$7,086$5,797$4,710$3,803$3,055$2,527
20 years$6,661$5,387$4,323$3,445$2,729$2,230
21 years$6,278$5,018$3,976$3,126$2,442$1,971
22 years$5,929$4,684$3,664$2,842$2,189$1,745
23 years$5,611$4,381$3,383$2,589$1,965$1,546
24 years$5,320$4,104$3,129$2,361$1,766$1,372
25 years$5,053$3,852$2,898$2,156$1,589$1,219
26 years$4,807$3,620$2,688$1,972$1,431$1,083
27 years$4,579$3,407$2,496$1,805$1,291$964
28 years$4,368$3,210$2,320$1,653$1,165$858
29 years$4,172$3,029$2,159$1,516$1,052$765
30 years$3,990$2,860$2,011$1,392$950$681
31 years$3,819$2,704$1,875$1,278$859$608
32 years$3,660$2,558$1,749$1,174$777$542
33 years$3,510$2,423$1,633$1,080$703$484
34 years$3,370$2,296$1,526$994$637$432
35 years$3,237$2,178$1,427$915$577$386
36 years$3,113$2,067$1,335$843$522$345
37 years$2,995$1,963$1,249$776$474$308
38 years$2,884$1,866$1,170$715$429$275
39 years$2,779$1,774$1,096$660$389$246
40 years$2,680$1,688$1,027$608$353$220
41 years$2,585$1,607$963$561$320$197
42 years$2,495$1,530$904$518$291$176
43 years$2,410$1,458$848$478$264$157
44 years$2,329$1,390$796$442$239$141
45 years$2,251$1,325$747$408$217$126
46 years$2,178$1,264$702$377$197$113
47 years$2,107$1,207$660$348$179$101
48 years$2,040$1,152$620$322$163$90
49 years$1,975$1,100$583$297$148$81
50 years$1,914$1,051$548$275$134$72

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,960,000, adding $5,935 every year, while hoping to spend $24,275 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: 48/23/29 Blend
73$1,960,000$1,960,000$1,960,000$1,960,000
74$2,166,042$2,062,162$2,031,782$2,251,815
75$2,361,150$2,137,379$2,074,018$2,388,060
76$2,575,345$2,215,469$2,116,856$2,533,098
77$2,810,549$2,296,546$2,160,289$2,690,149
78$3,068,878$2,380,730$2,204,312$2,860,361
79$3,352,664$2,468,146$2,248,917$3,044,994
80$3,664,475$2,558,924$2,294,095$3,245,436
81$4,007,140$2,653,200$2,339,836$3,463,214
82$4,383,778$2,751,116$2,386,129$3,700,008
83$4,797,821$2,852,819$2,432,963$3,957,666
84$5,253,054$2,958,463$2,480,323$4,238,222
85$5,753,646$3,068,207$2,528,193$4,543,916
86$6,304,188$3,182,220$2,576,558$4,877,212
87$6,909,742$3,300,675$2,625,399$5,240,823
88$7,575,881$3,423,754$2,674,696$5,637,737
89$8,308,749$3,551,646$2,724,426$6,071,242
90$9,115,114$3,684,548$2,774,567$6,544,957
91$10,002,432$3,822,668$2,825,091$7,062,871
92$10,978,920$3,966,219$2,875,972$7,629,372
93$12,053,632$4,115,425$2,927,179$8,249,294
94$13,236,542$4,270,521$2,978,679$8,927,962
95$14,538,643$4,431,750$3,030,439$9,671,236
96$15,972,045$4,599,366$3,082,419$10,485,574
97$17,550,093$4,773,635$3,134,580$11,378,087
98$19,287,493$4,954,834$3,186,879$12,356,607
99$21,200,448$5,143,251$3,239,269$13,429,761
100$23,306,811$5,339,187$3,291,702$14,607,051