Can I retire at age 74 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$204,796$202,972$201,192$199,455$197,759$193,371
2 years$101,384$99,496$97,666$95,892$94,171$89,773
3 years$66,918$65,022$63,196$61,439$59,746$55,475
4 years$49,688$47,798$45,991$44,263$42,611$38,501
5 years$39,353$37,474$35,691$33,998$32,392$28,454
6 years$32,465$30,600$28,843$27,189$25,631$21,868
7 years$27,548$25,698$23,969$22,353$20,845$17,259
8 years$23,861$22,028$20,328$18,752$17,293$13,882
9 years$20,995$19,179$17,508$15,972$14,563$11,325
10 years$18,703$16,906$15,264$13,768$12,408$9,340
11 years$16,830$15,050$13,438$11,983$10,672$7,768
12 years$15,270$13,508$11,926$10,510$9,248$6,505
13 years$13,950$12,207$10,655$9,279$8,064$5,477
14 years$12,821$11,096$9,574$8,237$7,069$4,633
15 years$11,842$10,137$8,644$7,346$6,224$3,933
16 years$10,987$9,300$7,837$6,577$5,501$3,349
17 years$10,234$8,565$7,131$5,910$4,878$2,859
18 years$9,564$7,915$6,510$5,326$4,337$2,446
19 years$8,966$7,335$5,959$4,812$3,866$2,097
20 years$8,429$6,816$5,469$4,359$3,453$1,800
21 years$7,943$6,349$5,031$3,956$3,090$1,547
22 years$7,502$5,927$4,637$3,597$2,770$1,332
23 years$7,100$5,543$4,281$3,275$2,486$1,147
24 years$6,732$5,193$3,959$2,987$2,235$989
25 years$6,394$4,874$3,667$2,728$2,011$853
26 years$6,082$4,581$3,401$2,495$1,811$736
27 years$5,794$4,311$3,158$2,283$1,633$636
28 years$5,527$4,062$2,936$2,092$1,474$550
29 years$5,279$3,832$2,732$1,918$1,331$475
30 years$5,048$3,619$2,545$1,761$1,202$411
31 years$4,832$3,421$2,373$1,617$1,087$355
32 years$4,631$3,237$2,214$1,486$983$307
33 years$4,441$3,066$2,067$1,367$890$266
34 years$4,264$2,905$1,931$1,257$806$230
35 years$4,096$2,756$1,805$1,157$730$199
36 years$3,939$2,616$1,689$1,066$661$173
37 years$3,790$2,484$1,581$982$599$149
38 years$3,650$2,361$1,480$905$543$129
39 years$3,517$2,245$1,387$835$493$112
40 years$3,391$2,136$1,300$770$447$97
41 years$3,271$2,033$1,219$710$405$84
42 years$3,157$1,936$1,143$656$368$73
43 years$3,049$1,845$1,073$605$334$63
44 years$2,947$1,759$1,007$559$303$55
45 years$2,849$1,677$946$516$275$47
46 years$2,755$1,600$888$477$250$41
47 years$2,666$1,527$834$440$227$36
48 years$2,581$1,457$784$407$206$31
49 years$2,499$1,392$737$376$187$27
50 years$2,421$1,330$693$348$170$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,480,000, adding $4,784 every year, while hoping to spend $30,066 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: 51/40/9 Blend
73$2,480,000$2,480,000$2,480,000$2,480,000
74$2,737,895$2,606,455$2,568,015$2,870,916
75$2,985,170$2,702,181$2,622,053$3,057,838
76$3,256,660$2,801,590$2,676,894$3,257,309
77$3,554,802$2,904,831$2,732,533$3,473,444
78$3,882,282$3,012,058$2,788,964$3,707,816
79$4,242,060$3,123,434$2,846,179$3,962,156
80$4,637,394$3,239,126$2,904,170$4,238,365
81$5,071,876$3,359,311$2,962,927$4,538,535
82$5,549,460$3,484,171$3,022,438$4,864,964
83$6,074,507$3,613,896$3,082,692$5,220,182
84$6,651,817$3,748,687$3,143,672$5,606,968
85$7,286,680$3,888,751$3,205,363$6,028,382
86$7,984,925$4,034,304$3,267,746$6,487,789
87$8,752,974$4,185,571$3,330,802$6,988,890
88$9,597,901$4,342,788$3,394,508$7,535,760
89$10,527,504$4,506,201$3,458,841$8,132,879
90$11,550,370$4,676,066$3,523,773$8,785,182
91$12,675,964$4,852,649$3,589,275$9,498,095
92$13,914,713$5,036,230$3,655,317$10,277,594
93$15,278,107$5,227,099$3,721,864$11,130,254
94$16,778,807$5,425,560$3,788,879$12,063,317
95$18,430,762$5,631,928$3,856,323$13,084,749
96$20,249,342$5,846,535$3,924,152$14,203,326
97$22,251,484$6,069,725$3,992,321$15,428,705
98$24,455,852$6,301,858$4,060,779$16,771,523
99$26,883,008$6,543,308$4,129,475$18,243,490
100$29,555,613$6,794,469$4,198,351$19,857,499