Can I retire at age 74 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$191,583$189,877$188,212$186,587$185,000$181,191
2 years$94,843$93,077$91,365$89,705$88,095$84,275
3 years$62,601$60,827$59,119$57,475$55,891$52,179
4 years$46,483$44,714$43,024$41,408$39,862$36,286
5 years$36,814$35,056$33,388$31,805$30,303$26,873
6 years$30,371$28,626$26,983$25,435$23,977$20,699
7 years$25,770$24,040$22,423$20,911$19,500$16,372
8 years$22,321$20,607$19,016$17,542$16,177$13,200
9 years$19,640$17,942$16,379$14,942$13,624$10,794
10 years$17,497$15,815$14,279$12,880$11,608$8,924
11 years$15,744$14,079$12,571$11,209$9,983$7,441
12 years$14,284$12,637$11,157$9,832$8,651$6,248
13 years$13,050$11,420$9,968$8,680$7,544$5,275
14 years$11,994$10,380$8,956$7,705$6,613$4,473
15 years$11,078$9,483$8,086$6,872$5,823$3,808
16 years$10,278$8,700$7,331$6,153$5,146$3,252
17 years$9,573$8,013$6,671$5,528$4,563$2,784
18 years$8,947$7,404$6,090$4,982$4,057$2,389
19 years$8,388$6,862$5,575$4,502$3,616$2,054
20 years$7,885$6,376$5,116$4,077$3,230$1,769
21 years$7,431$5,939$4,706$3,700$2,891$1,525
22 years$7,018$5,544$4,337$3,365$2,591$1,316
23 years$6,642$5,185$4,005$3,064$2,326$1,138
24 years$6,298$4,858$3,704$2,795$2,090$984
25 years$5,981$4,559$3,430$2,552$1,881$851
26 years$5,690$4,285$3,182$2,334$1,694$737
27 years$5,420$4,033$2,954$2,136$1,528$639
28 years$5,171$3,800$2,746$1,957$1,378$554
29 years$4,939$3,585$2,556$1,795$1,245$480
30 years$4,723$3,386$2,381$1,647$1,125$417
31 years$4,521$3,200$2,219$1,513$1,017$362
32 years$4,332$3,028$2,071$1,390$920$314
33 years$4,155$2,868$1,933$1,278$832$273
34 years$3,989$2,718$1,807$1,176$754$237
35 years$3,832$2,578$1,689$1,083$683$206
36 years$3,685$2,447$1,580$997$618$179
37 years$3,546$2,324$1,479$919$561$155
38 years$3,414$2,209$1,385$847$508$135
39 years$3,290$2,100$1,297$781$461$117
40 years$3,172$1,998$1,216$720$418$102
41 years$3,060$1,902$1,140$665$379$89
42 years$2,954$1,811$1,070$613$344$77
43 years$2,853$1,726$1,004$566$312$67
44 years$2,756$1,645$942$523$283$58
45 years$2,665$1,569$885$483$257$51
46 years$2,577$1,497$831$446$234$44
47 years$2,494$1,428$781$412$212$38
48 years$2,414$1,363$734$381$193$33
49 years$2,338$1,302$690$352$175$29
50 years$2,265$1,244$648$325$159$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,320,000, adding $6,585 every year, while hoping to spend $51,678 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: 77/6/17 Blend
73$2,320,000$2,320,000$2,320,000$2,320,000
74$2,563,432$2,440,472$2,404,512$2,750,647
75$2,769,918$2,505,071$2,430,079$2,939,801
76$2,995,732$2,571,102$2,454,769$3,140,059
77$3,242,793$2,638,582$2,478,500$3,358,272
78$3,513,212$2,707,526$2,501,184$3,596,218
79$3,809,312$2,777,948$2,522,726$3,855,854
80$4,133,653$2,849,859$2,543,029$4,139,335
81$4,489,055$2,923,272$2,561,990$4,449,036
82$4,878,622$2,998,195$2,579,499$4,787,573
83$5,305,772$3,074,637$2,595,444$5,157,827
84$5,774,273$3,152,606$2,609,702$5,562,975
85$6,288,270$3,232,105$2,622,149$6,006,512
86$6,852,333$3,313,138$2,632,651$6,492,293
87$7,471,495$3,395,705$2,641,068$7,024,565
88$8,151,298$3,479,805$2,647,254$7,608,004
89$8,897,848$3,565,434$2,651,056$8,247,765
90$9,717,874$3,652,585$2,652,311$8,949,529
91$10,618,783$3,741,249$2,650,850$9,719,551
92$11,608,741$3,831,412$2,646,495$10,564,727
93$12,696,740$3,923,058$2,639,060$11,492,655
94$13,892,688$4,016,168$2,628,349$12,511,707
95$15,207,500$4,110,719$2,614,157$13,631,108
96$16,653,203$4,206,681$2,596,268$14,861,022
97$18,243,045$4,304,024$2,574,459$16,212,651
98$19,991,624$4,402,710$2,548,492$17,698,338
99$21,915,024$4,502,697$2,518,120$19,331,685
100$24,030,964$4,603,937$2,483,086$21,127,680