Can I retire at age 74 with 2,220,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$183,326$181,693$180,099$178,544$177,026$173,169
2 years$90,755$89,065$87,427$85,839$84,298$80,431
3 years$59,902$58,205$56,571$54,998$53,482$49,727
4 years$44,479$42,787$41,169$39,623$38,144$34,529
5 years$35,228$33,545$31,949$30,434$28,996$25,532
6 years$29,062$27,392$25,820$24,338$22,944$19,633
7 years$24,659$23,004$21,456$20,010$18,660$15,503
8 years$21,359$19,719$18,197$16,786$15,480$12,477
9 years$18,794$17,169$15,673$14,298$13,036$10,185
10 years$16,742$15,133$13,664$12,325$11,108$8,405
11 years$15,065$13,472$12,029$10,726$9,553$6,995
12 years$13,669$12,092$10,676$9,408$8,278$5,861
13 years$12,488$10,928$9,538$8,306$7,219$4,939
14 years$11,477$9,933$8,570$7,373$6,328$4,180
15 years$10,601$9,074$7,738$6,576$5,572$3,551
16 years$9,835$8,325$7,015$5,888$4,924$3,026
17 years$9,161$7,667$6,384$5,290$4,366$2,585
18 years$8,562$7,085$5,827$4,768$3,882$2,214
19 years$8,026$6,566$5,335$4,308$3,460$1,899
20 years$7,545$6,102$4,896$3,902$3,091$1,631
21 years$7,110$5,683$4,503$3,541$2,766$1,403
22 years$6,715$5,305$4,150$3,220$2,479$1,209
23 years$6,356$4,962$3,832$2,932$2,226$1,042
24 years$6,026$4,649$3,544$2,674$2,000$899
25 years$5,724$4,363$3,283$2,442$1,800$776
26 years$5,445$4,100$3,044$2,233$1,621$671
27 years$5,187$3,859$2,827$2,044$1,462$580
28 years$4,948$3,636$2,628$1,873$1,319$501
29 years$4,726$3,430$2,446$1,717$1,191$434
30 years$4,519$3,240$2,278$1,576$1,076$375
31 years$4,326$3,062$2,124$1,448$973$325
32 years$4,145$2,898$1,982$1,330$880$281
33 years$3,976$2,744$1,850$1,223$797$244
34 years$3,817$2,601$1,729$1,126$721$211
35 years$3,667$2,467$1,616$1,036$653$183
36 years$3,526$2,341$1,512$954$592$158
37 years$3,393$2,224$1,415$879$536$137
38 years$3,267$2,113$1,325$810$486$119
39 years$3,148$2,010$1,242$747$441$103
40 years$3,035$1,912$1,164$689$400$89
41 years$2,928$1,820$1,091$636$363$78
42 years$2,826$1,733$1,024$587$329$67
43 years$2,730$1,652$960$542$299$58
44 years$2,638$1,574$902$500$271$51
45 years$2,550$1,501$847$462$246$44
46 years$2,466$1,432$795$427$224$38
47 years$2,387$1,367$747$394$203$33
48 years$2,310$1,305$702$364$184$29
49 years$2,237$1,246$660$337$167$25
50 years$2,167$1,190$620$311$152$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,220,000, adding $5,705 every year, while hoping to spend $33,671 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: 58/14/28 Blend
73$2,220,000$2,220,000$2,220,000$2,220,000
74$2,452,325$2,334,665$2,300,255$2,575,501
75$2,666,636$2,413,238$2,341,488$2,739,096
76$2,901,679$2,494,532$2,382,973$2,913,355
77$3,159,532$2,578,646$2,424,685$3,102,676
78$3,442,485$2,665,681$2,466,593$3,308,528
79$3,753,061$2,755,741$2,508,666$3,532,530
80$4,094,038$2,848,938$2,550,871$3,776,466
81$4,468,477$2,945,383$2,593,172$4,042,297
82$4,879,750$3,045,194$2,635,531$4,332,184
83$5,331,570$3,148,494$2,677,907$4,648,509
84$5,828,029$3,255,410$2,720,257$4,993,892
85$6,373,636$3,366,073$2,762,533$5,371,220
86$6,973,355$3,480,619$2,804,686$5,783,673
87$7,632,659$3,599,190$2,846,665$6,234,754
88$8,357,574$3,721,935$2,888,412$6,728,322
89$9,154,742$3,849,005$2,929,869$7,268,625
90$10,031,478$3,980,559$2,970,972$7,860,346
91$10,995,845$4,116,762$3,011,656$8,508,642
92$12,056,724$4,257,786$3,051,849$9,219,195
93$13,223,900$4,403,808$3,091,476$9,998,263
94$14,508,156$4,555,013$3,130,459$10,852,744
95$15,921,372$4,711,592$3,168,713$11,790,233
96$17,476,637$4,873,746$3,206,150$12,819,103
97$19,188,375$5,041,680$3,242,677$13,948,573
98$21,072,478$5,215,611$3,278,195$15,188,806
99$23,146,456$5,395,761$3,312,600$16,550,997
100$25,429,604$5,582,363$3,345,782$18,047,479