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%14.3%
1 years$191,583$189,877$188,212$186,587$185,000$181,711
2 years$94,843$93,077$91,365$89,705$88,095$84,793
3 years$62,601$60,827$59,119$57,475$55,891$52,678
4 years$46,483$44,714$43,024$41,408$39,862$36,763
5 years$36,814$35,056$33,388$31,805$30,303$27,327
6 years$30,371$28,626$26,983$25,435$23,977$21,128
7 years$25,770$24,040$22,423$20,911$19,500$16,778
8 years$22,321$20,607$19,016$17,542$16,177$13,582
9 years$19,640$17,942$16,379$14,942$13,624$11,153
10 years$17,497$15,815$14,279$12,880$11,608$9,261
11 years$15,744$14,079$12,571$11,209$9,983$7,756
12 years$14,284$12,637$11,157$9,832$8,651$6,542
13 years$13,050$11,420$9,968$8,680$7,544$5,548
14 years$11,994$10,380$8,956$7,705$6,613$4,728
15 years$11,078$9,483$8,086$6,872$5,823$4,044
16 years$10,278$8,700$7,331$6,153$5,146$3,471
17 years$9,573$8,013$6,671$5,528$4,563$2,987
18 years$8,947$7,404$6,090$4,982$4,057$2,576
19 years$8,388$6,862$5,575$4,502$3,616$2,226
20 years$7,885$6,376$5,116$4,077$3,230$1,927
21 years$7,431$5,939$4,706$3,700$2,891$1,670
22 years$7,018$5,544$4,337$3,365$2,591$1,450
23 years$6,642$5,185$4,005$3,064$2,326$1,260
24 years$6,298$4,858$3,704$2,795$2,090$1,095
25 years$5,981$4,559$3,430$2,552$1,881$953
26 years$5,690$4,285$3,182$2,334$1,694$830
27 years$5,420$4,033$2,954$2,136$1,528$723
28 years$5,171$3,800$2,746$1,957$1,378$631
29 years$4,939$3,585$2,556$1,795$1,245$550
30 years$4,723$3,386$2,381$1,647$1,125$480
31 years$4,521$3,200$2,219$1,513$1,017$419
32 years$4,332$3,028$2,071$1,390$920$366
33 years$4,155$2,868$1,933$1,278$832$320
34 years$3,989$2,718$1,807$1,176$754$279
35 years$3,832$2,578$1,689$1,083$683$244
36 years$3,685$2,447$1,580$997$618$213
37 years$3,546$2,324$1,479$919$561$186
38 years$3,414$2,209$1,385$847$508$163
39 years$3,290$2,100$1,297$781$461$142
40 years$3,172$1,998$1,216$720$418$124
41 years$3,060$1,902$1,140$665$379$109
42 years$2,954$1,811$1,070$613$344$95
43 years$2,853$1,726$1,004$566$312$83
44 years$2,756$1,645$942$523$283$73
45 years$2,665$1,569$885$483$257$64
46 years$2,577$1,497$831$446$234$56
47 years$2,494$1,428$781$412$212$49
48 years$2,414$1,363$734$381$193$43
49 years$2,338$1,302$690$352$175$37
50 years$2,265$1,244$648$325$159$33

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 $4,435 every year, while hoping to spend $31,323 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: 49/41/10 Blend
73$2,320,000$2,320,000$2,320,000$2,320,000
74$2,561,215$2,438,255$2,402,295$2,679,615
75$2,789,131$2,524,402$2,449,444$2,847,392
76$3,039,245$2,613,720$2,497,123$3,025,868
77$3,313,788$2,706,332$2,545,317$3,219,008
78$3,615,217$2,802,366$2,594,008$3,428,191
79$3,946,240$2,901,952$2,643,178$3,654,934
80$4,309,839$3,005,230$2,692,806$3,900,905
81$4,709,299$3,112,343$2,742,872$4,167,938
82$5,148,239$3,223,439$2,793,350$4,458,048
83$5,630,647$3,338,675$2,844,214$4,773,453
84$6,160,915$3,458,212$2,895,438$5,116,592
85$6,743,883$3,582,219$2,946,989$5,490,146
86$7,384,881$3,710,870$2,998,836$5,897,068
87$8,089,785$3,844,349$3,050,943$6,340,603
88$8,865,066$3,982,845$3,103,272$6,824,325
89$9,717,855$4,126,556$3,155,783$7,352,165
90$10,656,007$4,275,688$3,208,433$7,928,449
91$11,688,179$4,430,456$3,261,175$8,557,939
92$12,823,908$4,591,084$3,313,959$9,245,876
93$14,073,703$4,757,803$3,366,734$9,998,030
94$15,449,143$4,930,857$3,419,441$10,820,751
95$16,962,985$5,110,498$3,472,021$11,721,030
96$18,629,286$5,296,990$3,524,411$12,706,566
97$20,463,537$5,490,606$3,576,543$13,785,832
98$22,482,804$5,691,633$3,628,344$14,968,162
99$24,705,895$5,900,367$3,679,737$16,263,830
100$27,153,530$6,117,119$3,730,643$17,684,150