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

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$193,235$191,514$189,834$188,195$186,595$185,575
2 years$95,661$93,879$92,153$90,479$88,855$87,825
3 years$63,140$61,351$59,629$57,970$56,373$55,366
4 years$46,883$45,100$43,395$41,764$40,206$39,229
5 years$37,132$35,359$33,676$32,079$30,564$29,621
6 years$30,633$28,873$27,215$25,654$24,184$23,275
7 years$25,992$24,247$22,616$21,092$19,668$18,794
8 years$22,514$20,785$19,180$17,693$16,317$15,478
9 years$19,810$18,097$16,520$15,071$13,741$12,937
10 years$17,647$15,951$14,402$12,991$11,708$10,938
11 years$15,880$14,201$12,680$11,306$10,069$9,334
12 years$14,408$12,746$11,253$9,917$8,726$8,023
13 years$13,163$11,518$10,054$8,755$7,609$6,939
14 years$12,097$10,470$9,033$7,772$6,670$6,032
15 years$11,174$9,564$8,156$6,931$5,873$5,266
16 years$10,367$8,775$7,394$6,206$5,190$4,614
17 years$9,656$8,082$6,729$5,576$4,602$4,055
18 years$9,024$7,468$6,142$5,025$4,092$3,573
19 years$8,460$6,921$5,623$4,541$3,647$3,155
20 years$7,953$6,431$5,161$4,112$3,258$2,792
21 years$7,495$5,991$4,747$3,732$2,915$2,475
22 years$7,078$5,592$4,375$3,394$2,613$2,198
23 years$6,699$5,230$4,039$3,091$2,346$1,954
24 years$6,352$4,900$3,736$2,819$2,108$1,739
25 years$6,033$4,599$3,460$2,574$1,897$1,549
26 years$5,739$4,322$3,209$2,354$1,709$1,382
27 years$5,467$4,067$2,980$2,154$1,541$1,233
28 years$5,215$3,833$2,770$1,974$1,390$1,101
29 years$4,981$3,616$2,578$1,810$1,255$984
30 years$4,763$3,415$2,401$1,661$1,134$880
31 years$4,560$3,228$2,239$1,526$1,026$788
32 years$4,369$3,054$2,089$1,402$928$705
33 years$4,191$2,893$1,950$1,289$840$631
34 years$4,023$2,741$1,822$1,186$760$565
35 years$3,865$2,600$1,704$1,092$688$507
36 years$3,716$2,468$1,594$1,006$624$454
37 years$3,576$2,344$1,492$927$565$407
38 years$3,444$2,228$1,397$854$513$365
39 years$3,318$2,118$1,309$788$465$327
40 years$3,199$2,015$1,227$726$422$294
41 years$3,086$1,918$1,150$670$382$263
42 years$2,979$1,827$1,079$619$347$236
43 years$2,877$1,741$1,012$571$315$212
44 years$2,780$1,659$950$527$286$190
45 years$2,688$1,582$892$487$260$171
46 years$2,600$1,510$838$450$236$153
47 years$2,516$1,441$787$416$214$138
48 years$2,435$1,375$740$384$194$124
49 years$2,358$1,313$695$355$177$111
50 years$2,285$1,254$654$328$160$100

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 $2,191 every year, while hoping to spend $47,359 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: 50/30/20 Blend
73$2,340,000$2,340,000$2,340,000$2,340,000
74$2,580,940$2,456,920$2,420,650$2,695,475
75$2,793,806$2,526,919$2,451,352$2,844,952
76$3,026,798$2,598,762$2,481,496$3,002,284
77$3,281,917$2,672,487$2,511,012$3,172,276
78$3,561,369$2,748,136$2,539,827$3,356,139
79$3,867,584$2,825,749$2,567,867$3,555,210
80$4,203,236$2,905,369$2,595,048$3,770,959
81$4,571,270$2,987,037$2,621,287$4,005,005
82$4,974,932$3,070,794$2,646,493$4,259,129
83$5,417,796$3,156,683$2,670,571$4,535,296
84$5,903,797$3,244,747$2,693,421$4,835,667
85$6,437,273$3,335,028$2,714,938$5,162,623
86$7,022,998$3,427,567$2,735,012$5,518,786
87$7,666,234$3,522,409$2,753,526$5,907,044
88$8,372,778$3,619,595$2,770,357$6,330,580
89$9,149,014$3,719,168$2,785,376$6,792,898
90$10,001,976$3,821,169$2,798,449$7,297,859
91$10,939,412$3,925,641$2,809,431$7,849,717
92$11,969,859$4,032,625$2,818,175$8,453,157
93$13,102,723$4,142,162$2,824,522$9,113,343
94$14,348,365$4,254,292$2,828,308$9,835,963
95$15,718,201$4,369,055$2,829,359$10,627,283
96$17,224,810$4,486,490$2,827,494$11,494,209
97$18,882,047$4,606,636$2,822,522$12,444,349
98$20,705,183$4,729,528$2,814,244$13,486,087
99$22,711,039$4,855,202$2,802,448$14,628,660
100$24,918,151$4,983,693$2,786,917$15,882,247