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%14.8%
1 years$162,681$161,232$159,818$158,438$157,091$153,982
2 years$80,535$79,035$77,582$76,172$74,805$71,686
3 years$53,157$51,650$50,200$48,804$47,459$44,428
4 years$39,470$37,968$36,533$35,161$33,848$30,927
5 years$31,260$29,768$28,351$27,007$25,731$22,929
6 years$25,789$24,308$22,912$21,598$20,360$17,679
7 years$21,883$20,413$19,040$17,757$16,558$14,000
8 years$18,954$17,498$16,147$14,896$13,737$11,300
9 years$16,677$15,235$13,908$12,688$11,568$9,252
10 years$14,857$13,429$12,125$10,937$9,857$7,658
11 years$13,369$11,955$10,675$9,518$8,477$6,394
12 years$12,129$10,730$9,474$8,349$7,346$5,375
13 years$11,082$9,697$8,464$7,371$6,406$4,544
14 years$10,184$8,814$7,605$6,543$5,615$3,859
15 years$9,407$8,052$6,866$5,835$4,944$3,290
16 years$8,728$7,388$6,225$5,225$4,370$2,813
17 years$8,129$6,804$5,665$4,694$3,875$2,412
18 years$7,598$6,287$5,171$4,231$3,445$2,073
19 years$7,122$5,827$4,734$3,823$3,071$1,785
20 years$6,695$5,414$4,345$3,462$2,743$1,539
21 years$6,310$5,043$3,996$3,142$2,454$1,329
22 years$5,959$4,708$3,683$2,857$2,200$1,149
23 years$5,640$4,403$3,401$2,602$1,975$995
24 years$5,347$4,125$3,145$2,373$1,775$861
25 years$5,079$3,871$2,913$2,167$1,597$747
26 years$4,831$3,639$2,702$1,982$1,439$648
27 years$4,603$3,424$2,509$1,814$1,297$562
28 years$4,391$3,227$2,332$1,662$1,170$488
29 years$4,194$3,044$2,170$1,524$1,057$424
30 years$4,010$2,875$2,022$1,399$955$369
31 years$3,839$2,718$1,885$1,285$863$320
32 years$3,678$2,571$1,758$1,180$781$279
33 years$3,528$2,435$1,642$1,086$707$242
34 years$3,387$2,308$1,534$999$640$211
35 years$3,254$2,189$1,434$919$580$183
36 years$3,129$2,078$1,342$847$525$160
37 years$3,011$1,973$1,256$780$476$139
38 years$2,899$1,875$1,176$719$432$121
39 years$2,793$1,783$1,102$663$391$105
40 years$2,693$1,697$1,033$612$355$92
41 years$2,598$1,615$968$564$322$80
42 years$2,508$1,538$908$521$292$69
43 years$2,422$1,466$852$481$265$60
44 years$2,341$1,397$800$444$241$53
45 years$2,263$1,332$751$410$219$46
46 years$2,189$1,271$706$379$198$40
47 years$2,118$1,213$663$350$180$35
48 years$2,050$1,158$623$323$164$30
49 years$1,985$1,106$586$299$149$26
50 years$1,923$1,056$550$276$135$23

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 $6,013 every year, while hoping to spend $47,634 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: 56/39/5 Blend
73$1,970,000$1,970,000$1,970,000$1,970,000
74$2,177,142$2,072,732$2,042,197$2,296,581
75$2,348,529$2,123,614$2,059,929$2,428,511
76$2,535,800$2,175,392$2,076,658$2,566,252
77$2,740,526$2,228,061$2,092,300$2,715,076
78$2,964,436$2,281,612$2,106,768$2,876,043
79$3,209,432$2,336,035$2,119,969$3,050,319
80$3,477,610$2,391,317$2,131,804$3,239,186
81$3,771,278$2,447,443$2,142,171$3,444,058
82$4,092,978$2,504,397$2,150,963$3,666,489
83$4,445,507$2,562,158$2,158,066$3,908,194
84$4,831,948$2,620,703$2,163,361$4,171,059
85$5,255,696$2,680,007$2,166,722$4,457,162
86$5,720,489$2,740,039$2,168,019$4,768,792
87$6,230,445$2,800,767$2,167,114$5,108,468
88$6,790,100$2,862,155$2,163,863$5,478,970
89$7,404,451$2,924,161$2,158,113$5,883,354
90$8,079,002$2,986,741$2,149,706$6,324,992
91$8,819,814$3,049,846$2,138,475$6,807,597
92$9,633,567$3,113,420$2,124,245$7,335,258
93$10,527,617$3,177,404$2,106,835$7,912,482
94$11,510,071$3,241,734$2,086,050$8,544,235
95$12,589,857$3,306,338$2,061,692$9,235,988
96$13,776,813$3,371,139$2,033,549$9,993,770
97$15,081,776$3,436,053$2,001,401$10,824,223
98$16,516,687$3,500,989$1,965,018$11,734,668
99$18,094,701$3,565,849$1,924,158$12,733,169
100$19,830,311$3,630,527$1,878,568$13,828,615