Can I retire at age 74 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$175,068$173,508$171,987$170,502$169,052$167,776
2 years$86,667$85,053$83,489$81,972$80,501$79,214
3 years$57,204$55,583$54,023$52,520$51,073$49,816
4 years$42,476$40,859$39,315$37,838$36,426$35,207
5 years$33,641$32,034$30,510$29,063$27,690$26,515
6 years$27,753$26,158$24,656$23,242$21,910$20,779
7 years$23,549$21,968$20,490$19,109$17,819$16,732
8 years$20,397$18,830$17,377$16,030$14,783$13,741
9 years$17,947$16,395$14,967$13,654$12,449$11,451
10 years$15,988$14,452$13,048$11,770$10,607$9,653
11 years$14,387$12,865$11,488$10,243$9,123$8,212
12 years$13,053$11,547$10,195$8,985$7,905$7,037
13 years$11,925$10,435$9,108$7,932$6,894$6,067
14 years$10,960$9,486$8,184$7,041$6,043$5,256
15 years$10,123$8,665$7,389$6,280$5,321$4,573
16 years$9,392$7,950$6,699$5,623$4,702$3,993
17 years$8,748$7,322$6,096$5,052$4,170$3,497
18 years$8,176$6,766$5,565$4,553$3,707$3,071
19 years$7,665$6,270$5,094$4,114$3,304$2,703
20 years$7,205$5,827$4,675$3,726$2,952$2,383
21 years$6,790$5,427$4,300$3,381$2,641$2,105
22 years$6,413$5,066$3,964$3,075$2,368$1,862
23 years$6,069$4,738$3,660$2,800$2,125$1,649
24 years$5,755$4,440$3,385$2,554$1,910$1,462
25 years$5,466$4,166$3,135$2,332$1,719$1,298
26 years$5,199$3,916$2,907$2,132$1,548$1,153
27 years$4,953$3,685$2,700$1,952$1,396$1,025
28 years$4,725$3,472$2,510$1,788$1,260$912
29 years$4,513$3,276$2,336$1,640$1,137$811
30 years$4,315$3,094$2,175$1,505$1,028$723
31 years$4,131$2,925$2,028$1,382$929$644
32 years$3,958$2,767$1,892$1,270$840$574
33 years$3,797$2,621$1,767$1,168$761$512
34 years$3,645$2,484$1,651$1,075$689$457
35 years$3,502$2,356$1,543$989$624$407
36 years$3,367$2,236$1,444$911$565$364
37 years$3,240$2,124$1,351$840$512$325
38 years$3,120$2,018$1,266$774$464$290
39 years$3,006$1,919$1,186$714$421$259
40 years$2,898$1,826$1,111$658$382$231
41 years$2,796$1,738$1,042$607$347$207
42 years$2,699$1,655$977$560$314$185
43 years$2,607$1,577$917$517$285$165
44 years$2,519$1,503$861$478$259$147
45 years$2,435$1,434$808$441$235$132
46 years$2,355$1,368$759$407$214$118
47 years$2,279$1,305$713$376$194$105
48 years$2,206$1,246$670$348$176$94
49 years$2,137$1,190$630$321$160$84
50 years$2,070$1,137$592$297$145$75

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,120,000, adding $3,415 every year, while hoping to spend $56,228 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: 67/8/25 Blend
73$2,120,000$2,120,000$2,120,000$2,120,000
74$2,339,763$2,227,403$2,194,543$2,481,195
75$2,518,592$2,276,719$2,208,234$2,626,016
76$2,713,778$2,326,568$2,220,499$2,777,634
77$2,926,929$2,376,915$2,231,231$2,942,166
78$3,159,816$2,427,724$2,240,317$3,120,889
79$3,414,389$2,478,955$2,247,640$3,315,209
80$3,692,795$2,530,562$2,253,075$3,526,675
81$3,997,398$2,582,498$2,256,491$3,756,994
82$4,330,801$2,634,708$2,257,751$4,008,048
83$4,695,869$2,687,135$2,256,712$4,281,913
84$5,095,759$2,739,716$2,253,223$4,580,874
85$5,533,947$2,792,382$2,247,127$4,907,450
86$6,014,260$2,845,059$2,238,256$5,264,421
87$6,540,914$2,897,667$2,226,437$5,654,845
88$7,118,552$2,950,118$2,211,488$6,082,098
89$7,752,290$3,002,319$2,193,218$6,549,900
90$8,447,759$3,054,168$2,171,426$7,062,348
91$9,211,165$3,105,557$2,145,904$7,623,962
92$10,049,344$3,156,369$2,116,431$8,239,721
93$10,969,824$3,206,478$2,082,779$8,915,116
94$11,980,899$3,255,749$2,044,705$9,656,196
95$13,091,707$3,304,037$2,001,959$10,469,632
96$14,312,313$3,351,187$1,954,277$11,362,774
97$15,653,807$3,397,032$1,901,382$12,343,724
98$17,128,404$3,441,396$1,842,988$13,421,415
99$18,749,564$3,484,088$1,778,791$14,605,688
100$20,532,116$3,524,904$1,708,477$15,907,395