Can I retire at age 74 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$198,190$196,424$194,702$193,021$191,379$187,900
2 years$98,114$96,286$94,516$92,799$91,133$87,640
3 years$64,759$62,924$61,158$59,457$57,819$54,421
4 years$48,086$46,256$44,507$42,835$41,237$37,960
5 years$38,084$36,265$34,539$32,902$31,347$28,202
6 years$31,418$29,613$27,913$26,312$24,804$21,793
7 years$26,659$24,869$23,196$21,632$20,172$17,296
8 years$23,091$21,318$19,672$18,147$16,735$13,993
9 years$20,318$18,561$16,943$15,457$14,093$11,484
10 years$18,100$16,360$14,772$13,324$12,008$9,529
11 years$16,287$14,565$13,005$11,596$10,327$7,976
12 years$14,777$13,072$11,541$10,171$8,950$6,723
13 years$13,500$11,814$10,311$8,980$7,804$5,698
14 years$12,407$10,738$9,265$7,971$6,841$4,852
15 years$11,460$9,810$8,365$7,109$6,023$4,148
16 years$10,633$9,000$7,584$6,365$5,324$3,557
17 years$9,904$8,289$6,901$5,719$4,720$3,059
18 years$9,256$7,659$6,300$5,154$4,197$2,636
19 years$8,677$7,099$5,767$4,657$3,741$2,277
20 years$8,157$6,596$5,293$4,218$3,341$1,969
21 years$7,687$6,144$4,868$3,828$2,990$1,706
22 years$7,260$5,735$4,487$3,481$2,680$1,479
23 years$6,871$5,364$4,143$3,170$2,406$1,284
24 years$6,515$5,026$3,832$2,891$2,163$1,116
25 years$6,188$4,717$3,549$2,640$1,946$970
26 years$5,886$4,433$3,291$2,414$1,753$844
27 years$5,607$4,172$3,056$2,210$1,580$735
28 years$5,349$3,931$2,841$2,025$1,426$641
29 years$5,109$3,708$2,644$1,857$1,288$558
30 years$4,885$3,502$2,463$1,704$1,163$487
31 years$4,677$3,311$2,296$1,565$1,052$424
32 years$4,481$3,133$2,142$1,438$951$370
33 years$4,298$2,967$2,000$1,323$861$323
34 years$4,126$2,812$1,869$1,217$780$282
35 years$3,964$2,667$1,747$1,120$706$246
36 years$3,812$2,531$1,634$1,032$640$215
37 years$3,668$2,404$1,530$951$580$188
38 years$3,532$2,285$1,433$876$526$164
39 years$3,403$2,173$1,342$808$477$143
40 years$3,281$2,067$1,258$745$432$125
41 years$3,165$1,968$1,180$687$392$109
42 years$3,056$1,874$1,107$634$356$95
43 years$2,951$1,785$1,038$586$323$83
44 years$2,852$1,702$975$541$293$73
45 years$2,757$1,623$915$499$266$64
46 years$2,666$1,548$860$461$242$56
47 years$2,580$1,477$808$426$219$49
48 years$2,498$1,410$759$394$199$43
49 years$2,419$1,347$713$364$181$37
50 years$2,343$1,287$671$336$164$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,400,000, adding $2,388 every year, while hoping to spend $38,612 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: 53/34/13 Blend
73$2,400,000$2,400,000$2,400,000$2,400,000
74$2,647,263$2,520,063$2,482,863$2,778,366
75$2,876,201$2,602,463$2,524,956$2,950,393
76$3,127,197$2,687,607$2,567,165$3,133,125
77$3,402,459$2,775,588$2,609,454$3,331,056
78$3,704,421$2,866,503$2,651,781$3,545,636
79$4,035,763$2,960,453$2,694,107$3,778,461
80$4,399,437$3,057,541$2,736,386$4,031,286
81$4,798,694$3,157,875$2,778,569$4,306,043
82$5,237,116$3,261,567$2,820,607$4,604,855
83$5,718,650$3,368,732$2,862,445$4,930,063
84$6,247,642$3,479,489$2,904,027$5,284,240
85$6,828,880$3,593,963$2,945,291$5,670,219
86$7,467,640$3,712,281$2,986,172$6,091,117
87$8,169,733$3,834,576$3,026,602$6,550,369
88$8,941,562$3,960,987$3,066,510$7,051,751
89$9,790,181$4,091,655$3,105,817$7,599,426
90$10,723,361$4,226,727$3,144,444$8,197,974
91$11,749,665$4,366,358$3,182,304$8,852,439
92$12,878,527$4,510,705$3,219,306$9,568,376
93$14,120,339$4,659,932$3,255,356$10,351,900
94$15,486,555$4,814,210$3,290,352$11,209,749
95$16,989,792$4,973,715$3,324,187$12,149,339
96$18,643,953$5,138,629$3,356,749$13,178,843
97$20,464,356$5,309,142$3,387,920$14,307,257
98$22,467,880$5,485,450$3,417,575$15,544,493
99$24,673,123$5,667,755$3,445,583$16,901,469
100$27,100,576$5,856,270$3,471,804$18,390,211