Can I retire at age 74 with 2,180,000?

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 $2,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$180,022$178,419$176,854$175,327$173,836$170,746
2 years$89,120$87,460$85,852$84,292$82,779$79,676
3 years$58,823$57,156$55,552$54,007$52,519$49,499
4 years$43,678$42,016$40,427$38,909$37,457$34,545
5 years$34,593$32,941$31,373$29,886$28,474$25,678
6 years$28,538$26,899$25,354$23,900$22,530$19,853
7 years$24,215$22,590$21,070$19,649$18,323$15,766
8 years$20,974$19,363$17,869$16,483$15,201$12,762
9 years$18,455$16,859$15,390$14,040$12,801$10,480
10 years$16,441$14,861$13,418$12,103$10,907$8,702
11 years$14,794$13,230$11,813$10,533$9,381$7,288
12 years$13,422$11,874$10,483$9,239$8,129$6,147
13 years$12,263$10,731$9,366$8,157$7,089$5,214
14 years$11,270$9,754$8,416$7,240$6,214$4,443
15 years$10,410$8,910$7,598$6,457$5,471$3,800
16 years$9,658$8,175$6,889$5,782$4,836$3,261
17 years$8,996$7,529$6,269$5,195$4,288$2,806
18 years$8,407$6,957$5,722$4,682$3,812$2,420
19 years$7,882$6,448$5,239$4,230$3,398$2,092
20 years$7,409$5,992$4,808$3,831$3,035$1,811
21 years$6,982$5,581$4,422$3,477$2,716$1,570
22 years$6,594$5,210$4,076$3,162$2,435$1,362
23 years$6,241$4,872$3,763$2,879$2,185$1,184
24 years$5,918$4,565$3,480$2,626$1,964$1,029
25 years$5,620$4,284$3,223$2,398$1,768$896
26 years$5,347$4,026$2,990$2,193$1,592$780
27 years$5,093$3,789$2,776$2,007$1,435$680
28 years$4,859$3,571$2,581$1,839$1,295$593
29 years$4,641$3,369$2,402$1,686$1,170$517
30 years$4,438$3,181$2,237$1,548$1,057$451
31 years$4,248$3,007$2,086$1,421$955$394
32 years$4,070$2,846$1,946$1,306$864$344
33 years$3,904$2,695$1,817$1,201$782$300
34 years$3,748$2,554$1,698$1,105$708$262
35 years$3,601$2,422$1,587$1,017$641$229
36 years$3,462$2,299$1,485$937$581$200
37 years$3,332$2,184$1,390$863$527$175
38 years$3,208$2,075$1,301$796$478$153
39 years$3,091$1,973$1,219$734$433$134
40 years$2,980$1,878$1,143$677$393$117
41 years$2,875$1,787$1,072$624$356$102
42 years$2,775$1,702$1,005$576$323$89
43 years$2,681$1,622$943$532$293$78
44 years$2,590$1,546$885$491$266$68
45 years$2,504$1,474$831$454$242$60
46 years$2,422$1,406$781$419$220$52
47 years$2,344$1,342$734$387$199$46
48 years$2,269$1,281$689$358$181$40
49 years$2,197$1,223$648$331$164$35
50 years$2,128$1,169$609$306$149$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,180,000, adding $6,953 every year, while hoping to spend $56,893 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: 55/39/6 Blend
73$2,180,000$2,180,000$2,180,000$2,180,000
74$2,409,532$2,293,992$2,260,202$2,538,514
75$2,594,771$2,345,864$2,275,385$2,678,178
76$2,796,997$2,398,371$2,289,170$2,823,230
77$3,017,883$2,451,483$2,301,450$2,979,752
78$3,259,271$2,505,170$2,312,112$3,148,838
79$3,523,187$2,559,394$2,321,039$3,331,697
80$3,811,865$2,614,117$2,328,106$3,529,657
81$4,127,761$2,669,294$2,333,183$3,744,182
82$4,473,581$2,724,879$2,336,134$3,976,884
83$4,852,306$2,780,818$2,336,814$4,229,540
84$5,267,218$2,837,054$2,335,073$4,504,105
85$5,721,929$2,893,524$2,330,753$4,802,735
86$6,220,421$2,950,162$2,323,689$5,127,805
87$6,767,077$3,006,893$2,313,705$5,481,930
88$7,366,725$3,063,637$2,300,621$5,867,994
89$8,024,684$3,120,308$2,284,244$6,289,172
90$8,746,810$3,176,813$2,264,376$6,748,965
91$9,539,558$3,233,049$2,240,805$7,251,229
92$10,410,034$3,288,910$2,213,313$7,800,214
93$11,366,068$3,344,276$2,181,669$8,400,605
94$12,416,284$3,399,024$2,145,633$9,057,562
95$13,570,186$3,453,017$2,104,952$9,776,773
96$14,838,240$3,506,109$2,059,363$10,564,508
97$16,231,978$3,558,146$2,008,590$11,427,676
98$17,764,105$3,608,961$1,952,342$12,373,890
99$19,448,617$3,658,373$1,890,320$13,411,543
100$21,300,936$3,706,194$1,822,205$14,549,883