Can I retire at age 74 with 2,160,000?

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 $2,160,000?

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$178,371$176,782$175,232$173,719$172,241$170,941
2 years$88,302$86,658$85,064$83,519$82,020$80,709
3 years$58,283$56,632$55,042$53,511$52,037$50,756
4 years$43,277$41,630$40,057$38,552$37,113$35,872
5 years$34,275$32,639$31,085$29,611$28,213$27,015
6 years$28,276$26,652$25,122$23,681$22,324$21,171
7 years$23,993$22,382$20,876$19,469$18,155$17,048
8 years$20,782$19,186$17,705$16,332$15,061$14,000
9 years$18,286$16,705$15,249$13,911$12,684$11,667
10 years$16,290$14,724$13,294$11,992$10,807$9,836
11 years$14,658$13,108$11,704$10,436$9,295$8,367
12 years$13,299$11,765$10,387$9,154$8,055$7,170
13 years$12,150$10,632$9,280$8,082$7,024$6,181
14 years$11,166$9,664$8,338$7,174$6,157$5,356
15 years$10,314$8,829$7,528$6,398$5,421$4,660
16 years$9,570$8,100$6,826$5,729$4,791$4,069
17 years$8,913$7,460$6,211$5,147$4,248$3,563
18 years$8,330$6,893$5,670$4,639$3,777$3,129
19 years$7,809$6,389$5,191$4,191$3,367$2,754
20 years$7,341$5,937$4,764$3,796$3,007$2,428
21 years$6,918$5,530$4,382$3,445$2,691$2,145
22 years$6,534$5,162$4,038$3,133$2,412$1,897
23 years$6,184$4,828$3,729$2,853$2,165$1,680
24 years$5,863$4,523$3,448$2,602$1,946$1,490
25 years$5,569$4,245$3,194$2,376$1,751$1,322
26 years$5,297$3,990$2,962$2,173$1,578$1,174
27 years$5,047$3,755$2,751$1,989$1,422$1,044
28 years$4,814$3,538$2,557$1,822$1,283$929
29 years$4,598$3,338$2,380$1,671$1,159$827
30 years$4,397$3,152$2,216$1,533$1,047$736
31 years$4,209$2,980$2,066$1,408$947$656
32 years$4,033$2,819$1,928$1,294$856$585
33 years$3,868$2,670$1,800$1,190$775$521
34 years$3,713$2,531$1,682$1,095$702$465
35 years$3,568$2,400$1,573$1,008$636$415
36 years$3,431$2,278$1,471$928$576$370
37 years$3,301$2,164$1,377$855$522$331
38 years$3,179$2,056$1,289$788$473$295
39 years$3,063$1,955$1,208$727$429$264
40 years$2,953$1,860$1,132$671$389$236
41 years$2,849$1,771$1,062$619$353$210
42 years$2,750$1,687$996$571$320$188
43 years$2,656$1,607$935$527$291$168
44 years$2,566$1,532$877$487$264$150
45 years$2,481$1,461$824$449$240$134
46 years$2,400$1,393$774$415$218$120
47 years$2,322$1,330$727$384$198$107
48 years$2,248$1,269$683$354$179$96
49 years$2,177$1,212$642$328$163$86
50 years$2,109$1,158$604$303$148$77

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,160,000, adding $2,827 every year, while hoping to spend $49,510 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: 38/39/23 Blend
73$2,160,000$2,160,000$2,160,000$2,160,000
74$2,383,236$2,268,756$2,235,276$2,457,320
75$2,573,648$2,327,247$2,257,480$2,569,909
76$2,781,822$2,386,944$2,278,767$2,686,676
77$3,009,519$2,447,855$2,299,057$2,811,881
78$3,258,675$2,509,985$2,318,261$2,946,316
79$3,531,424$2,573,339$2,336,286$3,090,855
80$3,830,115$2,637,918$2,353,037$3,246,460
81$4,157,334$2,703,724$2,368,412$3,414,190
82$4,515,931$2,770,755$2,382,303$3,595,212
83$4,909,044$2,839,009$2,394,597$3,790,813
84$5,340,127$2,908,482$2,405,177$4,002,410
85$5,812,987$2,979,164$2,413,917$4,231,563
86$6,331,816$3,051,048$2,420,688$4,479,994
87$6,901,231$3,124,119$2,425,351$4,749,598
88$7,526,320$3,198,364$2,427,763$5,042,465
89$8,212,684$3,273,763$2,427,773$5,360,899
90$8,966,495$3,350,295$2,425,221$5,707,436
91$9,794,553$3,427,935$2,419,941$6,084,876
92$10,704,347$3,506,654$2,411,759$6,496,300
93$11,704,129$3,586,419$2,400,492$6,945,107
94$12,802,989$3,667,192$2,385,947$7,435,043
95$14,010,942$3,748,932$2,367,924$7,970,238
96$15,339,020$3,831,591$2,346,211$8,555,242
97$16,799,379$3,915,118$2,320,588$9,195,072
98$18,405,412$3,999,455$2,290,824$9,895,257
99$20,171,873$4,084,538$2,256,677$10,661,894
100$22,115,021$4,170,298$2,217,892$11,501,701