Can I retire at age 74 with 2,030,000?

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 $2,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$167,636$166,142$164,685$163,264$161,875$158,997
2 years$82,988$81,442$79,944$78,492$77,083$74,194
3 years$54,776$53,223$51,729$50,291$48,905$46,093
4 years$40,672$39,125$37,646$36,232$34,879$32,168
5 years$32,213$30,674$29,215$27,829$26,515$23,911
6 years$26,575$25,048$23,610$22,255$20,980$18,487
7 years$22,549$21,035$19,620$18,297$17,063$14,681
8 years$19,531$18,031$16,639$15,349$14,155$11,884
9 years$17,185$15,699$14,331$13,074$11,921$9,759
10 years$15,310$13,838$12,494$11,270$10,157$8,103
11 years$13,776$12,319$11,000$9,808$8,735$6,787
12 years$12,499$11,057$9,762$8,603$7,570$5,724
13 years$11,419$9,992$8,722$7,595$6,601$4,855
14 years$10,494$9,083$7,837$6,742$5,786$4,137
15 years$9,694$8,297$7,075$6,013$5,095$3,539
16 years$8,994$7,613$6,415$5,384$4,503$3,037
17 years$8,377$7,011$5,837$4,837$3,993$2,613
18 years$7,829$6,478$5,329$4,359$3,550$2,254
19 years$7,339$6,004$4,878$3,939$3,164$1,948
20 years$6,899$5,579$4,477$3,568$2,826$1,686
21 years$6,502$5,197$4,118$3,238$2,529$1,462
22 years$6,141$4,851$3,795$2,944$2,267$1,268
23 years$5,812$4,537$3,504$2,681$2,035$1,102
24 years$5,510$4,251$3,241$2,445$1,829$958
25 years$5,234$3,989$3,002$2,233$1,646$834
26 years$4,979$3,749$2,784$2,042$1,483$726
27 years$4,743$3,529$2,585$1,869$1,337$633
28 years$4,524$3,325$2,403$1,712$1,206$552
29 years$4,321$3,137$2,236$1,570$1,089$481
30 years$4,132$2,962$2,083$1,441$984$420
31 years$3,956$2,800$1,942$1,324$890$367
32 years$3,790$2,650$1,812$1,216$805$320
33 years$3,635$2,509$1,692$1,119$728$280
34 years$3,490$2,378$1,581$1,029$659$244
35 years$3,353$2,256$1,478$947$597$213
36 years$3,224$2,141$1,383$873$541$186
37 years$3,102$2,034$1,294$804$490$163
38 years$2,987$1,933$1,212$741$445$142
39 years$2,878$1,838$1,135$683$403$125
40 years$2,775$1,748$1,064$630$366$109
41 years$2,677$1,664$998$581$332$95
42 years$2,584$1,585$936$537$301$83
43 years$2,496$1,510$878$495$273$73
44 years$2,412$1,440$824$457$248$64
45 years$2,332$1,373$774$422$225$56
46 years$2,255$1,310$727$390$204$49
47 years$2,182$1,250$683$360$186$43
48 years$2,113$1,193$642$333$169$37
49 years$2,046$1,139$603$308$153$33
50 years$1,982$1,088$567$285$139$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,030,000, adding $2,167 every year, while hoping to spend $44,093 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: 45/50/5 Blend
73$2,030,000$2,030,000$2,030,000$2,030,000
74$2,239,295$2,131,705$2,100,240$2,336,915
75$2,420,789$2,189,244$2,123,684$2,461,850
76$2,619,317$2,248,125$2,146,435$2,592,466
77$2,836,570$2,308,366$2,168,423$2,733,044
78$3,074,411$2,369,987$2,189,576$2,884,516
79$3,334,890$2,433,005$2,209,816$3,047,904
80$3,620,265$2,497,438$2,229,061$3,224,331
81$3,933,022$2,563,303$2,247,225$3,415,036
82$4,275,901$2,630,615$2,264,217$3,621,381
83$4,651,917$2,699,389$2,279,942$3,844,865
84$5,064,392$2,769,639$2,294,300$4,087,136
85$5,516,987$2,841,378$2,307,186$4,350,011
86$6,013,731$2,914,617$2,318,488$4,635,490
87$6,559,064$2,989,366$2,328,090$4,945,772
88$7,157,877$3,065,633$2,335,870$5,283,282
89$7,815,557$3,143,426$2,341,698$5,650,689
90$8,538,039$3,222,750$2,345,440$6,050,931
91$9,331,862$3,303,607$2,346,955$6,487,245
92$10,204,227$3,385,998$2,346,093$6,963,195
93$11,163,069$3,469,924$2,342,698$7,482,709
94$12,217,131$3,555,378$2,336,607$8,050,111
95$13,376,043$3,642,357$2,327,648$8,670,164
96$14,650,416$3,730,849$2,315,641$9,348,118
97$16,051,940$3,820,843$2,300,397$10,089,752
98$17,593,496$3,912,322$2,281,719$10,901,436
99$19,289,276$4,005,269$2,259,399$11,790,188
100$21,154,914$4,099,659$2,233,221$12,763,736