Can I retire at age 74 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$193,235$191,514$189,834$188,195$186,595$183,504
2 years$95,661$93,879$92,153$90,479$88,855$85,749
3 years$63,140$61,351$59,629$57,970$56,373$53,350
4 years$46,883$45,100$43,395$41,764$40,206$37,289
5 years$37,132$35,359$33,676$32,079$30,564$27,761
6 years$30,633$28,873$27,215$25,654$24,184$21,499
7 years$25,992$24,247$22,616$21,092$19,668$17,101
8 years$22,514$20,785$19,180$17,693$16,317$13,867
9 years$19,810$18,097$16,520$15,071$13,741$11,408
10 years$17,647$15,951$14,402$12,991$11,708$9,490
11 years$15,880$14,201$12,680$11,306$10,069$7,963
12 years$14,408$12,746$11,253$9,917$8,726$6,729
13 years$13,163$11,518$10,054$8,755$7,609$5,719
14 years$12,097$10,470$9,033$7,772$6,670$4,883
15 years$11,174$9,564$8,156$6,931$5,873$4,186
16 years$10,367$8,775$7,394$6,206$5,190$3,599
17 years$9,656$8,082$6,729$5,576$4,602$3,104
18 years$9,024$7,468$6,142$5,025$4,092$2,683
19 years$8,460$6,921$5,623$4,541$3,647$2,324
20 years$7,953$6,431$5,161$4,112$3,258$2,016
21 years$7,495$5,991$4,747$3,732$2,915$1,752
22 years$7,078$5,592$4,375$3,394$2,613$1,524
23 years$6,699$5,230$4,039$3,091$2,346$1,327
24 years$6,352$4,900$3,736$2,819$2,108$1,157
25 years$6,033$4,599$3,460$2,574$1,897$1,009
26 years$5,739$4,322$3,209$2,354$1,709$881
27 years$5,467$4,067$2,980$2,154$1,541$769
28 years$5,215$3,833$2,770$1,974$1,390$672
29 years$4,981$3,616$2,578$1,810$1,255$588
30 years$4,763$3,415$2,401$1,661$1,134$514
31 years$4,560$3,228$2,239$1,526$1,026$450
32 years$4,369$3,054$2,089$1,402$928$394
33 years$4,191$2,893$1,950$1,289$840$345
34 years$4,023$2,741$1,822$1,186$760$302
35 years$3,865$2,600$1,704$1,092$688$265
36 years$3,716$2,468$1,594$1,006$624$232
37 years$3,576$2,344$1,492$927$565$203
38 years$3,444$2,228$1,397$854$513$178
39 years$3,318$2,118$1,309$788$465$156
40 years$3,199$2,015$1,227$726$422$137
41 years$3,086$1,918$1,150$670$382$120
42 years$2,979$1,827$1,079$619$347$105
43 years$2,877$1,741$1,012$571$315$92
44 years$2,780$1,659$950$527$286$81
45 years$2,688$1,582$892$487$260$71
46 years$2,600$1,510$838$450$236$62
47 years$2,516$1,441$787$416$214$54
48 years$2,435$1,375$740$384$194$48
49 years$2,358$1,313$695$355$177$42
50 years$2,285$1,254$654$328$160$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,340,000, adding $5,679 every year, while hoping to spend $29,081 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: 73/9/18 Blend
73$2,340,000$2,340,000$2,340,000$2,340,000
74$2,584,538$2,460,518$2,424,248$2,761,940
75$2,817,219$2,550,141$2,474,518$2,970,060
76$3,072,658$2,643,182$2,525,498$3,193,902
77$3,353,148$2,739,775$2,577,180$3,438,363
78$3,661,210$2,840,065$2,629,557$3,705,487
79$3,999,624$2,944,200$2,682,618$3,997,521
80$4,371,454$3,052,334$2,736,354$4,316,942
81$4,780,072$3,164,628$2,790,751$4,666,477
82$5,229,195$3,281,250$2,845,797$5,049,128
83$5,722,917$3,402,376$2,901,476$5,468,205
84$6,265,750$3,528,188$2,957,771$5,927,349
85$6,862,664$3,658,876$3,014,663$6,430,573
86$7,519,134$3,794,639$3,072,132$6,982,298
87$8,241,192$3,935,683$3,130,156$7,587,392
88$9,035,487$4,082,225$3,188,709$8,251,217
89$9,909,341$4,234,488$3,247,765$8,979,683
90$10,870,823$4,392,707$3,307,294$9,779,297
91$11,928,824$4,557,127$3,367,266$10,657,228
92$13,093,141$4,728,003$3,427,646$11,621,375
93$14,374,567$4,905,601$3,488,398$12,680,439
94$15,784,995$5,090,197$3,549,481$13,844,008
95$17,337,529$5,282,082$3,610,854$15,122,642
96$19,046,609$5,481,556$3,672,470$16,527,977
97$20,928,147$5,688,936$3,734,281$18,072,835
98$22,999,673$5,904,549$3,796,234$19,771,339
99$25,280,505$6,128,737$3,858,274$21,639,054
100$27,791,930$6,361,859$3,920,340$23,693,124