Can I retire at age 74 with 2,050,000?

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 $2,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$169,287$167,779$166,308$164,872$163,470$158,874
2 years$83,805$82,245$80,732$79,265$77,843$73,248
3 years$55,315$53,748$52,239$50,786$49,387$44,936
4 years$41,073$39,510$38,017$36,589$35,223$30,951
5 years$32,530$30,977$29,502$28,104$26,776$22,694
6 years$26,836$25,295$23,842$22,475$21,187$17,300
7 years$22,771$21,242$19,813$18,478$17,231$13,538
8 years$19,724$18,209$16,803$15,500$14,294$10,794
9 years$17,355$15,854$14,472$13,203$12,038$8,726
10 years$15,460$13,974$12,617$11,381$10,257$7,130
11 years$13,912$12,441$11,108$9,905$8,821$5,873
12 years$12,622$11,166$9,858$8,688$7,644$4,870
13 years$11,532$10,091$8,808$7,670$6,666$4,060
14 years$10,598$9,172$7,914$6,809$5,843$3,399
15 years$9,789$8,379$7,145$6,072$5,145$2,855
16 years$9,082$7,688$6,478$5,437$4,547$2,405
17 years$8,459$7,080$5,895$4,885$4,032$2,031
18 years$7,906$6,542$5,381$4,402$3,585$1,719
19 years$7,412$6,063$4,926$3,978$3,195$1,457
20 years$6,967$5,634$4,521$3,603$2,854$1,237
21 years$6,566$5,248$4,158$3,270$2,554$1,051
22 years$6,201$4,899$3,833$2,973$2,289$894
23 years$5,869$4,582$3,539$2,708$2,055$761
24 years$5,565$4,293$3,273$2,469$1,847$648
25 years$5,285$4,029$3,031$2,255$1,662$553
26 years$5,028$3,786$2,811$2,062$1,497$471
27 years$4,790$3,563$2,611$1,887$1,350$402
28 years$4,569$3,358$2,427$1,729$1,218$343
29 years$4,364$3,168$2,258$1,586$1,100$293
30 years$4,173$2,992$2,104$1,455$994$250
31 years$3,995$2,828$1,961$1,337$898$214
32 years$3,828$2,676$1,830$1,228$813$183
33 years$3,671$2,534$1,708$1,130$736$156
34 years$3,524$2,402$1,596$1,039$666$133
35 years$3,386$2,278$1,492$957$603$114
36 years$3,256$2,162$1,396$881$546$98
37 years$3,133$2,054$1,307$812$495$83
38 years$3,017$1,952$1,224$748$449$71
39 years$2,907$1,856$1,146$690$407$61
40 years$2,803$1,766$1,075$636$369$52
41 years$2,704$1,681$1,008$587$335$45
42 years$2,610$1,601$945$542$304$38
43 years$2,521$1,525$887$500$276$33
44 years$2,436$1,454$833$462$250$28
45 years$2,355$1,386$782$427$227$24
46 years$2,277$1,322$734$394$206$20
47 years$2,204$1,262$690$364$187$17
48 years$2,133$1,205$648$336$170$15
49 years$2,066$1,150$609$311$155$13
50 years$2,002$1,099$573$287$140$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,050,000, adding $6,783 every year, while hoping to spend $49,561 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: 77/18/5 Blend
73$2,050,000$2,050,000$2,050,000$2,050,000
74$2,266,097$2,157,447$2,125,672$2,439,464
75$2,444,506$2,210,429$2,144,149$2,607,128
76$2,639,452$2,264,346$2,161,585$2,783,777
77$2,852,569$2,319,192$2,177,891$2,975,967
78$3,085,657$2,374,959$2,192,976$3,185,218
79$3,340,696$2,431,634$2,206,743$3,413,204
80$3,619,870$2,489,206$2,219,091$3,661,770
81$3,925,579$2,547,660$2,229,913$3,932,946
82$4,260,469$2,606,977$2,239,097$4,228,967
83$4,627,455$2,667,136$2,246,524$4,552,296
84$5,029,744$2,728,115$2,252,072$4,905,644
85$5,470,871$2,789,886$2,255,609$5,292,000
86$5,954,728$2,852,418$2,257,000$5,714,653
87$6,485,602$2,915,678$2,256,101$6,177,227
88$7,068,215$2,979,628$2,252,762$6,683,714
89$7,707,769$3,044,225$2,246,825$7,238,513
90$8,409,992$3,109,424$2,238,125$7,846,468
91$9,181,198$3,175,172$2,226,489$8,512,915
92$10,028,338$3,241,413$2,211,734$9,243,736
93$10,959,072$3,308,086$2,193,671$10,045,407
94$11,981,839$3,375,123$2,172,100$10,925,067
95$13,105,933$3,442,451$2,146,812$11,890,578
96$14,341,596$3,509,989$2,117,588$12,950,605
97$15,700,110$3,577,650$2,084,199$14,114,693
98$17,193,907$3,645,340$2,046,405$15,393,360
99$18,836,681$3,712,958$2,003,955$16,798,196
100$20,643,521$3,780,392$1,956,586$18,341,968