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%11.5%
1 years$204,796$202,972$201,192$199,455$197,759$196,512
2 years$101,384$99,496$97,666$95,892$94,171$92,914
3 years$66,918$65,022$63,196$61,439$59,746$58,517
4 years$49,688$47,798$45,991$44,263$42,611$41,420
5 years$39,353$37,474$35,691$33,998$32,392$31,242
6 years$32,465$30,600$28,843$27,189$25,631$24,523
7 years$27,548$25,698$23,969$22,353$20,845$19,780
8 years$23,861$22,028$20,328$18,752$17,293$16,271
9 years$20,995$19,179$17,508$15,972$14,563$13,584
10 years$18,703$16,906$15,264$13,768$12,408$11,472
11 years$16,830$15,050$13,438$11,983$10,672$9,777
12 years$15,270$13,508$11,926$10,510$9,248$8,394
13 years$13,950$12,207$10,655$9,279$8,064$7,250
14 years$12,821$11,096$9,574$8,237$7,069$6,294
15 years$11,842$10,137$8,644$7,346$6,224$5,487
16 years$10,987$9,300$7,837$6,577$5,501$4,801
17 years$10,234$8,565$7,131$5,910$4,878$4,214
18 years$9,564$7,915$6,510$5,326$4,337$3,708
19 years$8,966$7,335$5,959$4,812$3,866$3,270
20 years$8,429$6,816$5,469$4,359$3,453$2,890
21 years$7,943$6,349$5,031$3,956$3,090$2,558
22 years$7,502$5,927$4,637$3,597$2,770$2,268
23 years$7,100$5,543$4,281$3,275$2,486$2,013
24 years$6,732$5,193$3,959$2,987$2,235$1,789
25 years$6,394$4,874$3,667$2,728$2,011$1,591
26 years$6,082$4,581$3,401$2,495$1,811$1,417
27 years$5,794$4,311$3,158$2,283$1,633$1,263
28 years$5,527$4,062$2,936$2,092$1,474$1,126
29 years$5,279$3,832$2,732$1,918$1,331$1,005
30 years$5,048$3,619$2,545$1,761$1,202$897
31 years$4,832$3,421$2,373$1,617$1,087$801
32 years$4,631$3,237$2,214$1,486$983$716
33 years$4,441$3,066$2,067$1,367$890$640
34 years$4,264$2,905$1,931$1,257$806$572
35 years$4,096$2,756$1,805$1,157$730$512
36 years$3,939$2,616$1,689$1,066$661$458
37 years$3,790$2,484$1,581$982$599$410
38 years$3,650$2,361$1,480$905$543$367
39 years$3,517$2,245$1,387$835$493$329
40 years$3,391$2,136$1,300$770$447$294
41 years$3,271$2,033$1,219$710$405$264
42 years$3,157$1,936$1,143$656$368$236
43 years$3,049$1,845$1,073$605$334$212
44 years$2,947$1,759$1,007$559$303$190
45 years$2,849$1,677$946$516$275$170
46 years$2,755$1,600$888$477$250$152
47 years$2,666$1,527$834$440$227$136
48 years$2,581$1,457$784$407$206$122
49 years$2,499$1,392$737$376$187$110
50 years$2,421$1,330$693$348$170$98

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 $5,055 every year, while hoping to spend $36,231 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: 81/5/14 Blend
73$2,480,000$2,480,000$2,480,000$2,480,000
74$2,738,174$2,606,734$2,568,294$2,952,011
75$2,978,919$2,695,915$2,615,783$3,182,381
76$3,243,004$2,788,251$2,663,647$3,429,987
77$3,532,774$2,883,859$2,711,863$3,700,745
78$3,850,809$2,982,859$2,760,402$3,996,960
79$4,199,950$3,085,378$2,809,235$4,321,173
80$4,583,330$3,191,546$2,858,328$4,676,180
81$5,004,395$3,301,498$2,907,648$5,065,063
82$5,466,947$3,415,375$2,957,158$5,491,213
83$5,975,171$3,533,323$3,006,818$5,958,371
84$6,533,677$3,655,495$3,056,585$6,470,653
85$7,147,545$3,782,047$3,106,414$7,032,595
86$7,822,372$3,913,145$3,156,256$7,649,196
87$8,564,323$4,048,958$3,206,060$8,325,959
88$9,380,192$4,189,665$3,255,770$9,068,951
89$10,277,462$4,335,449$3,305,329$9,884,852
90$11,264,378$4,486,501$3,354,673$10,781,024
91$12,350,027$4,643,022$3,403,737$11,765,578
92$13,544,418$4,805,218$3,452,450$12,847,449
93$14,858,578$4,973,303$3,500,737$14,036,483
94$16,304,661$5,147,503$3,548,520$15,343,526
95$17,896,056$5,328,050$3,595,714$16,780,532
96$19,647,515$5,515,186$3,642,232$18,360,668
97$21,575,294$5,709,162$3,687,979$20,098,444
98$23,697,303$5,910,241$3,732,856$22,009,847
99$26,033,280$6,118,694$3,776,758$24,112,494
100$28,604,969$6,334,805$3,819,575$26,425,796