Can I retire at age 74 with 2,020,000?

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 $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$166,810$165,324$163,874$162,459$161,078$157,120
2 years$82,579$81,041$79,551$78,105$76,704$72,741
3 years$54,506$52,961$51,474$50,043$48,664$44,820
4 years$40,472$38,932$37,460$36,053$34,708$31,012
5 years$32,054$30,523$29,071$27,692$26,384$22,847
6 years$26,444$24,925$23,493$22,146$20,877$17,502
7 years$22,438$20,932$19,523$18,207$16,978$13,766
8 years$19,435$17,942$16,557$15,274$14,085$11,034
9 years$17,101$15,622$14,261$13,010$11,862$8,969
10 years$15,234$13,770$12,433$11,214$10,107$7,369
11 years$13,708$12,259$10,946$9,760$8,692$6,106
12 years$12,437$11,003$9,714$8,561$7,533$5,093
13 years$11,363$9,943$8,679$7,558$6,569$4,271
14 years$10,443$9,038$7,798$6,709$5,758$3,598
15 years$9,646$8,256$7,040$5,983$5,070$3,041
16 years$8,949$7,575$6,383$5,357$4,481$2,579
17 years$8,335$6,976$5,808$4,814$3,973$2,192
18 years$7,790$6,447$5,302$4,338$3,532$1,867
19 years$7,303$5,975$4,854$3,920$3,149$1,593
20 years$6,865$5,552$4,455$3,550$2,812$1,362
21 years$6,470$5,171$4,098$3,222$2,517$1,165
22 years$6,110$4,827$3,777$2,929$2,256$998
23 years$5,783$4,515$3,487$2,668$2,025$856
24 years$5,483$4,230$3,225$2,433$1,820$734
25 years$5,208$3,970$2,987$2,222$1,638$630
26 years$4,954$3,731$2,770$2,032$1,475$542
27 years$4,720$3,511$2,572$1,860$1,330$466
28 years$4,502$3,309$2,391$1,704$1,200$400
29 years$4,300$3,121$2,225$1,563$1,084$344
30 years$4,112$2,948$2,073$1,434$979$296
31 years$3,936$2,787$1,932$1,317$885$255
32 years$3,772$2,637$1,803$1,210$801$220
33 years$3,618$2,497$1,683$1,113$725$189
34 years$3,473$2,367$1,573$1,024$656$163
35 years$3,337$2,245$1,471$943$594$140
36 years$3,208$2,131$1,376$868$538$121
37 years$3,087$2,023$1,288$800$488$104
38 years$2,973$1,923$1,206$737$442$90
39 years$2,864$1,829$1,130$680$401$77
40 years$2,762$1,740$1,059$627$364$67
41 years$2,664$1,656$993$579$330$57
42 years$2,572$1,577$931$534$300$49
43 years$2,484$1,503$874$493$272$43
44 years$2,400$1,432$820$455$247$37
45 years$2,320$1,366$770$420$224$32
46 years$2,244$1,303$723$388$203$27
47 years$2,172$1,244$680$359$185$24
48 years$2,102$1,187$639$331$168$20
49 years$2,036$1,134$600$306$152$17
50 years$1,972$1,083$564$283$138$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,020,000, adding $4,020 every year, while hoping to spend $53,657 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: 43/29/28 Blend
73$2,020,000$2,020,000$2,020,000$2,020,000
74$2,230,187$2,123,127$2,091,817$2,307,723
75$2,400,575$2,170,069$2,104,802$2,410,632
76$2,586,545$2,217,514$2,116,424$2,516,673
77$2,789,628$2,265,428$2,126,580$2,630,546
78$3,011,513$2,313,776$2,135,163$2,753,009
79$3,254,056$2,362,520$2,142,060$2,884,898
80$3,519,303$2,411,617$2,147,152$3,027,134
81$3,809,505$2,461,019$2,150,314$3,180,735
82$4,127,141$2,510,676$2,151,417$3,346,821
83$4,474,942$2,560,531$2,150,322$3,526,630
84$4,855,913$2,610,525$2,146,885$3,721,527
85$5,273,367$2,660,591$2,140,956$3,933,017
86$5,730,948$2,710,658$2,132,376$4,162,760
87$6,232,674$2,760,648$2,120,979$4,412,587
88$6,782,965$2,810,479$2,106,591$4,684,520
89$7,386,696$2,860,061$2,089,030$4,980,787
90$8,049,231$2,909,296$2,068,104$5,303,845
91$8,776,480$2,958,079$2,043,614$5,656,406
92$9,574,956$3,006,299$2,015,349$6,041,461
93$10,451,828$3,053,836$1,983,091$6,462,307
94$11,415,000$3,100,558$1,946,609$6,922,584
95$12,473,172$3,146,328$1,905,663$7,426,303
96$13,635,935$3,190,997$1,860,001$7,977,890
97$14,913,850$3,234,406$1,809,361$8,582,227
98$16,318,554$3,276,383$1,753,466$9,244,695
99$17,862,868$3,316,747$1,692,029$9,971,232
100$19,560,917$3,355,304$1,624,748$10,768,384