Can I retire at age 74 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$195,712$193,969$192,268$190,608$188,987$186,317
2 years$96,887$95,083$93,334$91,639$89,994$87,309
3 years$63,950$62,138$60,393$58,714$57,096$54,479
4 years$47,484$45,678$43,951$42,300$40,721$38,194
5 years$37,608$35,812$34,108$32,490$30,956$28,524
6 years$31,025$29,243$27,564$25,983$24,494$22,162
7 years$26,326$24,558$22,906$21,362$19,920$17,688
8 years$22,802$21,051$19,426$17,920$16,526$14,393
9 years$20,064$18,329$16,732$15,264$13,917$11,882
10 years$17,874$16,156$14,587$13,158$11,858$9,920
11 years$16,083$14,383$12,842$11,451$10,198$8,356
12 years$14,592$12,909$11,397$10,044$8,838$7,088
13 years$13,332$11,666$10,183$8,867$7,707$6,048
14 years$12,252$10,604$9,149$7,872$6,756$5,185
15 years$11,317$9,687$8,260$7,020$5,948$4,463
16 years$10,500$8,888$7,489$6,286$5,257$3,854
17 years$9,780$8,185$6,815$5,648$4,661$3,338
18 years$9,140$7,564$6,221$5,090$4,145$2,897
19 years$8,569$7,010$5,695$4,599$3,694$2,520
20 years$8,055$6,514$5,227$4,165$3,300$2,196
21 years$7,591$6,067$4,808$3,780$2,953$1,917
22 years$7,169$5,664$4,431$3,437$2,647$1,675
23 years$6,785$5,297$4,091$3,130$2,376$1,466
24 years$6,433$4,963$3,784$2,855$2,136$1,284
25 years$6,110$4,658$3,504$2,607$1,922$1,125
26 years$5,813$4,377$3,250$2,384$1,731$987
27 years$5,537$4,120$3,018$2,182$1,561$866
28 years$5,282$3,882$2,806$1,999$1,408$761
29 years$5,045$3,662$2,611$1,833$1,272$668
30 years$4,824$3,458$2,432$1,683$1,149$588
31 years$4,618$3,269$2,267$1,545$1,039$517
32 years$4,425$3,094$2,115$1,420$940$455
33 years$4,244$2,930$1,975$1,306$850$400
34 years$4,074$2,777$1,845$1,202$770$352
35 years$3,915$2,634$1,725$1,106$697$310
36 years$3,764$2,500$1,614$1,019$632$273
37 years$3,622$2,374$1,511$939$573$240
38 years$3,488$2,256$1,415$865$519$212
39 years$3,361$2,145$1,325$798$471$187
40 years$3,240$2,041$1,242$736$427$164
41 years$3,126$1,943$1,165$679$387$145
42 years$3,017$1,851$1,093$626$352$128
43 years$2,914$1,763$1,025$578$319$112
44 years$2,816$1,681$963$534$290$99
45 years$2,722$1,603$904$493$263$87
46 years$2,633$1,529$849$456$239$77
47 years$2,548$1,459$797$421$217$68
48 years$2,466$1,393$749$389$197$60
49 years$2,388$1,330$704$359$179$53
50 years$2,314$1,271$662$332$162$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,370,000, adding $6,747 every year, while hoping to spend $33,324 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: 46/26/28 Blend
73$2,370,000$2,370,000$2,370,000$2,370,000
74$2,618,700$2,493,090$2,456,355$2,717,776
75$2,850,350$2,579,794$2,503,186$2,875,333
76$3,104,513$2,669,631$2,550,469$3,042,435
77$3,383,448$2,762,718$2,598,185$3,223,108
78$3,689,646$2,859,177$2,646,310$3,418,643
79$4,025,850$2,959,137$2,694,822$3,630,458
80$4,395,083$3,062,731$2,743,694$3,860,113
81$4,800,673$3,170,096$2,792,900$4,109,327
82$5,246,288$3,281,378$2,842,409$4,379,989
83$5,735,968$3,396,724$2,892,188$4,674,178
84$6,274,164$3,516,291$2,942,204$4,994,184
85$6,865,780$3,640,240$2,992,419$5,342,525
86$7,516,218$3,768,740$3,042,793$5,721,974
87$8,231,429$3,901,965$3,093,283$6,135,584
88$9,017,971$4,040,098$3,143,845$6,586,716
89$9,883,069$4,183,328$3,194,429$7,079,069
90$10,834,683$4,331,852$3,244,983$7,616,718
91$11,881,583$4,485,875$3,295,452$8,204,148
92$13,033,433$4,645,611$3,345,778$8,846,300
93$14,300,879$4,811,281$3,395,897$9,548,613
94$15,695,652$4,983,118$3,445,743$10,317,077
95$17,230,679$5,161,361$3,495,246$11,158,291
96$18,920,202$5,346,261$3,544,331$12,079,522
97$20,779,914$5,538,080$3,592,917$13,088,771
98$22,827,107$5,737,087$3,640,922$14,194,856
99$25,080,834$5,943,567$3,688,255$15,407,485
100$27,562,091$6,157,813$3,734,823$16,737,355