Can I retire at age 74 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$162,681$161,232$159,818$158,438$157,091$155,321
2 years$80,535$79,035$77,582$76,172$74,805$73,023
3 years$53,157$51,650$50,200$48,804$47,459$45,721
4 years$39,470$37,968$36,533$35,161$33,848$32,167
5 years$31,260$29,768$28,351$27,007$25,731$24,111
6 years$25,789$24,308$22,912$21,598$20,360$18,804
7 years$21,883$20,413$19,040$17,757$16,558$15,067
8 years$18,954$17,498$16,147$14,896$13,737$12,309
9 years$16,677$15,235$13,908$12,688$11,568$10,205
10 years$14,857$13,429$12,125$10,937$9,857$8,556
11 years$13,369$11,955$10,675$9,518$8,477$7,238
12 years$12,129$10,730$9,474$8,349$7,346$6,167
13 years$11,082$9,697$8,464$7,371$6,406$5,286
14 years$10,184$8,814$7,605$6,543$5,615$4,553
15 years$9,407$8,052$6,866$5,835$4,944$3,937
16 years$8,728$7,388$6,225$5,225$4,370$3,417
17 years$8,129$6,804$5,665$4,694$3,875$2,974
18 years$7,598$6,287$5,171$4,231$3,445$2,595
19 years$7,122$5,827$4,734$3,823$3,071$2,269
20 years$6,695$5,414$4,345$3,462$2,743$1,987
21 years$6,310$5,043$3,996$3,142$2,454$1,743
22 years$5,959$4,708$3,683$2,857$2,200$1,532
23 years$5,640$4,403$3,401$2,602$1,975$1,347
24 years$5,347$4,125$3,145$2,373$1,775$1,186
25 years$5,079$3,871$2,913$2,167$1,597$1,046
26 years$4,831$3,639$2,702$1,982$1,439$922
27 years$4,603$3,424$2,509$1,814$1,297$814
28 years$4,391$3,227$2,332$1,662$1,170$719
29 years$4,194$3,044$2,170$1,524$1,057$635
30 years$4,010$2,875$2,022$1,399$955$562
31 years$3,839$2,718$1,885$1,285$863$497
32 years$3,678$2,571$1,758$1,180$781$440
33 years$3,528$2,435$1,642$1,086$707$389
34 years$3,387$2,308$1,534$999$640$344
35 years$3,254$2,189$1,434$919$580$305
36 years$3,129$2,078$1,342$847$525$270
37 years$3,011$1,973$1,256$780$476$239
38 years$2,899$1,875$1,176$719$432$212
39 years$2,793$1,783$1,102$663$391$188
40 years$2,693$1,697$1,033$612$355$167
41 years$2,598$1,615$968$564$322$148
42 years$2,508$1,538$908$521$292$131
43 years$2,422$1,466$852$481$265$116
44 years$2,341$1,397$800$444$241$103
45 years$2,263$1,332$751$410$219$91
46 years$2,189$1,271$706$379$198$81
47 years$2,118$1,213$663$350$180$72
48 years$2,050$1,158$623$323$164$64
49 years$1,985$1,106$586$299$149$56
50 years$1,923$1,056$550$276$135$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,970,000, adding $6,132 every year, while hoping to spend $27,380 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: 53/17/30 Blend
73$1,970,000$1,970,000$1,970,000$1,970,000
74$2,177,265$2,072,855$2,042,320$2,274,069
75$2,370,214$2,145,293$2,081,606$2,414,430
76$2,581,926$2,220,363$2,121,290$2,563,840
77$2,814,286$2,298,164$2,161,357$2,725,918
78$3,069,371$2,378,801$2,201,789$2,901,889
79$3,349,467$2,462,383$2,242,569$3,093,104
80$3,657,094$2,549,021$2,283,677$3,301,047
81$3,995,027$2,638,832$2,325,090$3,527,354
82$4,366,324$2,731,940$2,366,785$3,773,825
83$4,774,353$2,828,469$2,408,736$4,042,443
84$5,222,825$2,928,552$2,450,917$4,335,388
85$5,715,828$3,032,326$2,493,297$4,655,066
86$6,257,867$3,139,933$2,535,847$5,004,121
87$6,853,902$3,251,523$2,578,530$5,385,469
88$7,509,401$3,367,249$2,621,312$5,802,319
89$8,230,388$3,487,272$2,664,155$6,258,205
90$9,023,499$3,611,760$2,707,015$6,757,021
91$9,896,047$3,740,887$2,749,850$7,303,055
92$10,856,086$3,874,833$2,792,613$7,901,030
93$11,912,495$4,013,788$2,835,254$8,556,150
94$13,075,054$4,157,948$2,877,720$9,274,144
95$14,354,540$4,307,518$2,919,954$10,061,328
96$15,762,827$4,462,711$2,961,896$10,924,656
97$17,312,999$4,623,747$3,003,483$11,871,788
98$19,019,474$4,790,859$3,044,648$12,911,168
99$20,898,136$4,964,287$3,085,320$14,052,092
100$22,966,489$5,144,281$3,125,422$15,304,807