Can I retire at age 74 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$168,461$166,961$165,497$164,068$162,672$161,580
2 years$83,397$81,843$80,338$78,879$77,463$76,361
3 years$55,046$53,486$51,984$50,538$49,146$48,068
4 years$40,873$39,318$37,831$36,410$35,051$34,007
5 years$32,371$30,825$29,359$27,966$26,645$25,637
6 years$26,705$25,171$23,726$22,365$21,084$20,113
7 years$22,660$21,139$19,716$18,387$17,147$16,214
8 years$19,627$18,120$16,721$15,425$14,225$13,330
9 years$17,270$15,777$14,402$13,138$11,979$11,122
10 years$15,385$13,906$12,556$11,326$10,207$9,387
11 years$13,844$12,380$11,054$9,857$8,778$7,995
12 years$12,560$11,112$9,810$8,646$7,607$6,860
13 years$11,475$10,042$8,765$7,633$6,634$5,922
14 years$10,546$9,128$7,875$6,775$5,815$5,137
15 years$9,741$8,338$7,110$6,043$5,120$4,476
16 years$9,038$7,650$6,446$5,410$4,525$3,914
17 years$8,418$7,045$5,866$4,861$4,012$3,432
18 years$7,867$6,510$5,355$4,381$3,567$3,018
19 years$7,376$6,034$4,902$3,959$3,180$2,660
20 years$6,933$5,607$4,499$3,585$2,840$2,349
21 years$6,534$5,223$4,138$3,254$2,542$2,078
22 years$6,171$4,875$3,814$2,958$2,278$1,840
23 years$5,840$4,560$3,522$2,694$2,045$1,632
24 years$5,538$4,272$3,257$2,457$1,838$1,450
25 years$5,259$4,009$3,016$2,244$1,654$1,289
26 years$5,003$3,768$2,798$2,052$1,490$1,146
27 years$4,766$3,546$2,598$1,878$1,343$1,021
28 years$4,547$3,341$2,415$1,721$1,212$910
29 years$4,343$3,152$2,247$1,578$1,094$811
30 years$4,153$2,977$2,093$1,448$989$723
31 years$3,975$2,814$1,952$1,330$894$646
32 years$3,809$2,663$1,821$1,222$809$576
33 years$3,653$2,522$1,700$1,124$732$515
34 years$3,507$2,390$1,589$1,034$663$460
35 years$3,370$2,267$1,485$952$600$411
36 years$3,240$2,152$1,389$877$544$368
37 years$3,118$2,044$1,300$808$493$329
38 years$3,002$1,942$1,218$745$447$294
39 years$2,893$1,847$1,141$687$405$263
40 years$2,789$1,757$1,069$633$368$235
41 years$2,691$1,673$1,003$584$333$211
42 years$2,597$1,593$941$539$303$188
43 years$2,508$1,518$883$498$275$169
44 years$2,424$1,447$828$460$249$151
45 years$2,343$1,380$778$424$226$135
46 years$2,266$1,316$731$392$205$121
47 years$2,193$1,256$686$362$187$108
48 years$2,123$1,199$645$335$169$97
49 years$2,056$1,145$606$309$154$87
50 years$1,992$1,094$570$286$140$78

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,040,000, adding $2,099 every year, while hoping to spend $46,631 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: 53/19/28 Blend
73$2,040,000$2,040,000$2,040,000$2,040,000
74$2,250,245$2,142,125$2,110,505$2,351,806
75$2,430,155$2,197,474$2,131,592$2,477,785
76$2,626,853$2,253,973$2,151,822$2,609,897
77$2,842,002$2,311,627$2,171,119$2,752,749
78$3,077,433$2,370,444$2,189,398$2,907,388
79$3,335,163$2,430,428$2,206,575$3,074,969
80$3,617,413$2,491,581$2,222,558$3,256,762
81$3,926,626$2,553,906$2,237,251$3,454,168
82$4,265,497$2,617,403$2,250,554$3,668,731
83$4,636,991$2,682,069$2,262,360$3,902,152
84$5,044,374$2,747,900$2,272,560$4,156,306
85$5,491,245$2,814,891$2,281,035$4,433,260
86$5,981,565$2,883,034$2,287,662$4,735,291
87$6,519,699$2,952,317$2,292,314$5,064,908
88$7,110,455$3,022,728$2,294,853$5,424,879
89$7,759,130$3,094,250$2,295,139$5,818,252
90$8,471,557$3,166,864$2,293,022$6,248,387
91$9,254,162$3,240,547$2,288,345$6,718,989
92$10,114,027$3,315,273$2,280,944$7,234,141
93$11,058,949$3,391,014$2,270,648$7,798,341
94$12,097,523$3,467,734$2,257,275$8,416,550
95$13,239,213$3,545,396$2,240,637$9,094,235
96$14,494,450$3,623,958$2,220,536$9,837,421
97$15,874,724$3,703,372$2,196,763$10,652,751
98$17,392,693$3,783,584$2,169,102$11,547,544
99$19,062,306$3,864,538$2,137,325$12,529,869
100$20,898,930$3,946,169$2,101,194$13,608,621