Can I retire at age 74 with 2,620,000?

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 $2,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$216,357$214,430$212,550$210,714$208,922$206,827
2 years$107,108$105,113$103,179$101,305$99,487$97,376
3 years$70,696$68,692$66,764$64,907$63,119$61,058
4 years$52,493$50,496$48,587$46,762$45,017$43,022
5 years$41,575$39,590$37,706$35,918$34,221$32,299
6 years$34,298$32,328$30,472$28,724$27,078$25,230
7 years$29,103$27,149$25,322$23,615$22,022$20,249
8 years$25,208$23,272$21,475$19,810$18,269$16,572
9 years$22,180$20,262$18,497$16,874$15,385$13,763
10 years$19,759$17,860$16,126$14,546$13,109$11,560
11 years$17,780$15,900$14,197$12,659$11,274$9,797
12 years$16,132$14,271$12,599$11,104$9,770$8,364
13 years$14,738$12,897$11,257$9,803$8,520$7,183
14 years$13,544$11,723$10,114$8,702$7,468$6,199
15 years$12,511$10,709$9,132$7,761$6,576$5,372
16 years$11,608$9,825$8,279$6,949$5,812$4,671
17 years$10,811$9,049$7,534$6,243$5,153$4,074
18 years$10,104$8,361$6,877$5,627$4,582$3,562
19 years$9,472$7,749$6,296$5,084$4,084$3,121
20 years$8,905$7,201$5,778$4,605$3,648$2,740
21 years$8,391$6,707$5,315$4,179$3,264$2,410
22 years$7,925$6,261$4,898$3,800$2,926$2,122
23 years$7,501$5,856$4,523$3,460$2,627$1,871
24 years$7,112$5,487$4,183$3,156$2,361$1,651
25 years$6,755$5,149$3,874$2,882$2,124$1,458
26 years$6,426$4,839$3,593$2,635$1,914$1,289
27 years$6,121$4,554$3,336$2,412$1,725$1,141
28 years$5,839$4,291$3,102$2,210$1,557$1,010
29 years$5,577$4,048$2,886$2,027$1,406$895
30 years$5,333$3,823$2,689$1,860$1,270$793
31 years$5,105$3,614$2,506$1,708$1,148$703
32 years$4,892$3,420$2,339$1,570$1,039$624
33 years$4,692$3,239$2,184$1,444$940$553
34 years$4,504$3,070$2,040$1,328$851$491
35 years$4,328$2,911$1,907$1,223$771$436
36 years$4,161$2,763$1,784$1,126$698$387
37 years$4,004$2,625$1,670$1,038$633$344
38 years$3,856$2,494$1,564$956$574$306
39 years$3,715$2,372$1,465$882$520$271
40 years$3,582$2,257$1,373$813$472$241
41 years$3,456$2,148$1,288$750$428$214
42 years$3,336$2,046$1,208$693$389$191
43 years$3,222$1,949$1,134$639$353$169
44 years$3,113$1,858$1,064$590$320$151
45 years$3,009$1,772$999$545$291$134
46 years$2,911$1,690$938$504$264$119
47 years$2,817$1,613$882$465$240$106
48 years$2,726$1,540$828$430$218$94
49 years$2,640$1,470$779$397$198$84
50 years$2,558$1,405$732$367$180$74

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,620,000, adding $5,904 every year, while hoping to spend $34,079 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: 50/34/16 Blend
73$2,620,000$2,620,000$2,620,000$2,620,000
74$2,893,330$2,754,470$2,713,860$3,024,953
75$3,152,190$2,853,179$2,768,514$3,214,921
76$3,436,311$2,955,583$2,823,858$3,417,230
77$3,748,235$3,061,826$2,879,877$3,636,342
78$4,090,759$3,172,061$2,936,557$3,873,851
79$4,466,968$3,286,443$2,993,883$4,131,508
80$4,880,257$3,405,136$3,051,836$4,411,241
81$5,334,367$3,528,312$3,110,397$4,715,168
82$5,833,421$3,656,148$3,169,544$5,045,622
83$6,381,959$3,788,828$3,229,253$5,405,165
84$6,984,984$3,926,546$3,289,498$5,796,620
85$7,648,008$4,069,503$3,350,252$6,223,089
86$8,377,103$4,217,906$3,411,483$6,687,989
87$9,178,959$4,371,975$3,473,159$7,195,078
88$10,060,947$4,531,936$3,535,244$7,748,493
89$11,031,189$4,698,026$3,597,700$8,352,786
90$12,098,632$4,870,491$3,660,485$9,012,969
91$13,273,135$5,049,588$3,723,554$9,734,559
92$14,565,562$5,235,585$3,786,860$10,523,629
93$15,987,881$5,428,761$3,850,352$11,386,866
94$17,553,281$5,629,405$3,913,974$12,331,629
95$19,276,292$5,837,823$3,977,669$13,366,025
96$21,172,927$6,054,329$4,041,374$14,498,980
97$23,260,827$6,279,254$4,105,022$15,740,319
98$25,559,434$6,512,939$4,168,542$17,100,867
99$28,090,168$6,755,745$4,231,860$18,592,540
100$30,876,632$7,008,043$4,294,895$20,228,466