Can I retire at age 74 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$170,113$168,598$167,119$165,676$164,267$162,417
2 years$84,214$82,646$81,126$79,652$78,223$76,360
3 years$55,585$54,010$52,494$51,034$49,628$47,810
4 years$41,273$39,703$38,202$36,767$35,395$33,637
5 years$32,689$31,128$29,646$28,241$26,907$25,213
6 years$26,967$25,418$23,959$22,584$21,290$19,663
7 years$22,882$21,346$19,910$18,568$17,315$15,755
8 years$19,820$18,298$16,885$15,576$14,364$12,872
9 years$17,439$15,931$14,543$13,267$12,097$10,671
10 years$15,536$14,043$12,679$11,437$10,307$8,947
11 years$13,980$12,501$11,162$9,953$8,864$7,569
12 years$12,684$11,221$9,906$8,730$7,682$6,449
13 years$11,588$10,140$8,851$7,708$6,699$5,528
14 years$10,649$9,217$7,952$6,842$5,872$4,761
15 years$9,837$8,420$7,180$6,102$5,170$4,117
16 years$9,127$7,725$6,510$5,463$4,569$3,573
17 years$8,501$7,115$5,924$4,909$4,052$3,110
18 years$7,945$6,574$5,407$4,424$3,602$2,713
19 years$7,448$6,093$4,950$3,997$3,211$2,372
20 years$7,001$5,662$4,543$3,620$2,868$2,078
21 years$6,598$5,274$4,179$3,286$2,567$1,823
22 years$6,231$4,923$3,851$2,987$2,301$1,602
23 years$5,897$4,604$3,556$2,721$2,065$1,409
24 years$5,592$4,314$3,289$2,481$1,856$1,241
25 years$5,311$4,048$3,046$2,266$1,670$1,093
26 years$5,052$3,805$2,825$2,072$1,505$964
27 years$4,813$3,581$2,623$1,897$1,356$851
28 years$4,591$3,374$2,439$1,738$1,224$752
29 years$4,385$3,183$2,269$1,594$1,105$664
30 years$4,193$3,006$2,114$1,462$999$587
31 years$4,014$2,842$1,971$1,343$903$520
32 years$3,846$2,689$1,839$1,234$817$460
33 years$3,689$2,546$1,717$1,135$739$407
34 years$3,542$2,413$1,604$1,044$669$360
35 years$3,403$2,289$1,500$961$606$319
36 years$3,272$2,173$1,403$885$549$283
37 years$3,148$2,064$1,313$816$498$250
38 years$3,032$1,961$1,230$752$451$222
39 years$2,921$1,865$1,152$693$409$197
40 years$2,816$1,774$1,080$640$371$174
41 years$2,717$1,689$1,013$590$337$154
42 years$2,623$1,608$950$545$306$137
43 years$2,533$1,533$891$503$277$121
44 years$2,448$1,461$837$464$252$108
45 years$2,366$1,393$786$429$228$95
46 years$2,289$1,329$738$396$207$85
47 years$2,215$1,268$693$366$188$75
48 years$2,144$1,211$651$338$171$67
49 years$2,076$1,156$612$312$155$59
50 years$2,011$1,104$576$289$141$52

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,060,000, adding $6,915 every year, while hoping to spend $53,213 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: 50/31/19 Blend
73$2,060,000$2,060,000$2,060,000$2,060,000
74$2,277,253$2,168,073$2,136,143$2,378,748
75$2,452,914$2,217,690$2,151,085$2,499,232
76$2,644,710$2,267,955$2,164,745$2,624,069
77$2,854,229$2,318,844$2,177,023$2,758,607
78$3,083,221$2,370,328$2,187,814$2,903,781
79$3,333,614$2,422,378$2,197,009$3,060,620
80$3,607,527$2,474,959$2,204,494$3,230,262
81$3,907,297$2,528,034$2,210,146$3,413,955
82$4,235,495$2,581,562$2,213,840$3,613,080
83$4,594,953$2,635,496$2,215,442$3,829,156
84$4,988,790$2,689,787$2,214,811$4,063,857
85$5,420,441$2,744,381$2,211,802$4,319,031
86$5,893,689$2,799,219$2,206,260$4,596,711
87$6,412,699$2,854,234$2,198,023$4,899,141
88$6,982,061$2,909,358$2,186,923$5,228,793
89$7,606,828$2,964,514$2,172,782$5,588,392
90$8,292,569$3,019,619$2,155,414$5,980,944
91$9,045,415$3,074,584$2,134,625$6,409,760
92$9,872,122$3,129,313$2,110,210$6,878,492
93$10,780,131$3,183,703$2,081,955$7,391,163
94$11,777,641$3,237,641$2,049,636$7,952,210
95$12,873,681$3,291,006$2,013,020$8,566,526
96$14,078,202$3,343,670$1,971,861$9,239,501
97$15,402,163$3,395,494$1,925,903$9,977,080
98$16,857,639$3,446,329$1,874,876$10,785,814
99$18,457,934$3,496,016$1,818,501$11,672,928
100$20,217,705$3,544,382$1,756,482$12,646,385