Can I retire at age 74 with 2,470,000?

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$203,970$202,153$200,381$198,651$196,961$193,539
2 years$100,975$99,095$97,272$95,505$93,791$90,354
3 years$66,648$64,760$62,942$61,191$59,505$56,161
4 years$49,488$47,605$45,805$44,085$42,439$39,214
5 years$39,195$37,323$35,547$33,861$32,262$29,163
6 years$32,335$30,477$28,727$27,079$25,528$22,560
7 years$27,436$25,595$23,872$22,263$20,761$17,925
8 years$23,765$21,939$20,246$18,676$17,223$14,519
9 years$20,910$19,102$17,438$15,908$14,504$11,930
10 years$18,628$16,838$15,202$13,713$12,358$9,912
11 years$16,762$14,989$13,384$11,934$10,629$8,307
12 years$15,208$13,454$11,878$10,468$9,211$7,010
13 years$13,894$12,158$10,612$9,242$8,032$5,950
14 years$12,769$11,052$9,535$8,204$7,041$5,073
15 years$11,795$10,096$8,609$7,316$6,199$4,343
16 years$10,943$9,263$7,805$6,551$5,479$3,730
17 years$10,192$8,531$7,102$5,886$4,858$3,212
18 years$9,526$7,883$6,484$5,304$4,319$2,772
19 years$8,930$7,306$5,935$4,793$3,850$2,397
20 years$8,395$6,789$5,447$4,341$3,439$2,077
21 years$7,911$6,323$5,010$3,940$3,077$1,802
22 years$7,472$5,903$4,618$3,582$2,758$1,565
23 years$7,071$5,521$4,264$3,262$2,476$1,361
24 years$6,705$5,172$3,943$2,975$2,226$1,184
25 years$6,368$4,854$3,652$2,717$2,003$1,031
26 years$6,058$4,562$3,387$2,485$1,804$899
27 years$5,771$4,293$3,145$2,274$1,626$784
28 years$5,505$4,046$2,924$2,084$1,468$684
29 years$5,258$3,817$2,721$1,911$1,325$597
30 years$5,028$3,604$2,535$1,754$1,197$521
31 years$4,813$3,407$2,363$1,611$1,083$456
32 years$4,612$3,224$2,205$1,480$979$398
33 years$4,423$3,053$2,058$1,361$886$348
34 years$4,246$2,894$1,923$1,252$802$304
35 years$4,080$2,745$1,798$1,153$727$266
36 years$3,923$2,605$1,682$1,062$658$233
37 years$3,775$2,474$1,574$978$597$204
38 years$3,635$2,351$1,474$902$541$178
39 years$3,502$2,236$1,381$831$491$156
40 years$3,377$2,127$1,295$767$445$136
41 years$3,258$2,025$1,214$707$404$119
42 years$3,145$1,929$1,139$653$366$104
43 years$3,037$1,838$1,069$603$332$91
44 years$2,935$1,752$1,003$557$302$80
45 years$2,837$1,670$942$514$274$70
46 years$2,744$1,593$885$475$249$61
47 years$2,655$1,521$831$439$226$54
48 years$2,570$1,452$781$405$205$47
49 years$2,489$1,386$734$375$186$41
50 years$2,412$1,324$690$346$169$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,470,000, adding $6,955 every year, while hoping to spend $44,377 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: 59/23/18 Blend
73$2,470,000$2,470,000$2,470,000$2,470,000
74$2,729,114$2,598,204$2,559,919$2,876,950
75$2,960,267$2,678,299$2,598,460$3,057,949
76$3,213,510$2,760,832$2,636,804$3,249,764
77$3,491,050$2,845,874$2,674,899$3,457,939
78$3,795,316$2,933,501$2,712,687$3,684,061
79$4,128,985$3,023,790$2,750,109$3,929,878
80$4,495,005$3,116,819$2,787,100$4,197,313
81$4,896,621$3,212,669$2,823,594$4,488,486
82$5,337,412$3,311,424$2,859,520$4,805,727
83$5,821,314$3,413,171$2,894,800$5,151,606
84$6,352,669$3,517,997$2,929,357$5,528,950
85$6,936,256$3,625,993$2,963,105$5,940,873
86$7,577,340$3,737,253$2,995,955$6,390,805
87$8,281,723$3,851,873$3,027,814$6,882,524
88$9,055,795$3,969,951$3,058,582$7,420,190
89$9,906,596$4,091,589$3,088,155$8,008,385
90$10,841,884$4,216,891$3,116,422$8,652,159
91$11,870,202$4,345,965$3,143,268$9,357,070
92$13,000,965$4,478,920$3,168,571$10,129,244
93$14,244,547$4,615,870$3,192,201$10,975,429
94$15,612,375$4,756,932$3,214,024$11,903,058
95$17,117,040$4,902,224$3,233,896$12,920,321
96$18,772,415$5,051,870$3,251,669$14,036,238
97$20,593,785$5,205,996$3,267,184$15,260,750
98$22,597,993$5,364,732$3,280,277$16,604,808
99$24,803,595$5,528,210$3,290,772$18,080,476
100$27,231,037$5,696,568$3,298,489$19,701,048