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%20%
1 years$216,357$214,430$212,550$210,714$208,922$200,554
2 years$107,108$105,113$103,179$101,305$99,487$91,161
3 years$70,696$68,692$66,764$64,907$63,119$55,097
4 years$52,493$50,496$48,587$46,762$45,017$37,361
5 years$41,575$39,590$37,706$35,918$34,221$26,950
6 years$34,298$32,328$30,472$28,724$27,078$20,197
7 years$29,103$27,149$25,322$23,615$22,022$15,528
8 years$25,208$23,272$21,475$19,810$18,269$12,155
9 years$22,180$20,262$18,497$16,874$15,385$9,643
10 years$19,759$17,860$16,126$14,546$13,109$7,726
11 years$17,780$15,900$14,197$12,659$11,274$6,238
12 years$16,132$14,271$12,599$11,104$9,770$5,067
13 years$14,738$12,897$11,257$9,803$8,520$4,135
14 years$13,544$11,723$10,114$8,702$7,468$3,388
15 years$12,511$10,709$9,132$7,761$6,576$2,784
16 years$11,608$9,825$8,279$6,949$5,812$2,294
17 years$10,811$9,049$7,534$6,243$5,153$1,893
18 years$10,104$8,361$6,877$5,627$4,582$1,565
19 years$9,472$7,749$6,296$5,084$4,084$1,296
20 years$8,905$7,201$5,778$4,605$3,648$1,074
21 years$8,391$6,707$5,315$4,179$3,264$891
22 years$7,925$6,261$4,898$3,800$2,926$740
23 years$7,501$5,856$4,523$3,460$2,627$615
24 years$7,112$5,487$4,183$3,156$2,361$511
25 years$6,755$5,149$3,874$2,882$2,124$425
26 years$6,426$4,839$3,593$2,635$1,914$353
27 years$6,121$4,554$3,336$2,412$1,725$294
28 years$5,839$4,291$3,102$2,210$1,557$245
29 years$5,577$4,048$2,886$2,027$1,406$204
30 years$5,333$3,823$2,689$1,860$1,270$170
31 years$5,105$3,614$2,506$1,708$1,148$141
32 years$4,892$3,420$2,339$1,570$1,039$118
33 years$4,692$3,239$2,184$1,444$940$98
34 years$4,504$3,070$2,040$1,328$851$82
35 years$4,328$2,911$1,907$1,223$771$68
36 years$4,161$2,763$1,784$1,126$698$57
37 years$4,004$2,625$1,670$1,038$633$47
38 years$3,856$2,494$1,564$956$574$39
39 years$3,715$2,372$1,465$882$520$33
40 years$3,582$2,257$1,373$813$472$27
41 years$3,456$2,148$1,288$750$428$23
42 years$3,336$2,046$1,208$693$389$19
43 years$3,222$1,949$1,134$639$353$16
44 years$3,113$1,858$1,064$590$320$13
45 years$3,009$1,772$999$545$291$11
46 years$2,911$1,690$938$504$264$9
47 years$2,817$1,613$882$465$240$8
48 years$2,726$1,540$828$430$218$6
49 years$2,640$1,470$779$397$198$5
50 years$2,558$1,405$732$367$180$4

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 $3,289 every year, while hoping to spend $36,427 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: 58/31/11 Blend
73$2,620,000$2,620,000$2,620,000$2,620,000
74$2,890,633$2,751,773$2,711,163$3,050,379
75$3,146,719$2,847,851$2,763,229$3,254,512
76$3,427,706$2,947,417$2,815,818$3,472,559
77$3,736,093$3,050,602$2,868,909$3,709,357
78$4,074,637$3,157,545$2,922,481$3,966,709
79$4,446,373$3,268,387$2,976,506$4,246,599
80$4,854,644$3,383,279$3,030,960$4,551,209
81$5,303,133$3,502,374$3,085,812$4,882,941
82$5,795,897$3,625,835$3,141,031$5,244,437
83$6,337,406$3,753,829$3,196,584$5,638,604
84$6,932,584$3,886,529$3,252,432$6,068,642
85$7,586,856$4,024,118$3,308,537$6,538,073
86$8,306,200$4,166,784$3,364,857$7,050,775
87$9,097,199$4,314,723$3,421,347$7,611,014
88$9,967,109$4,468,140$3,477,957$8,223,490
89$10,923,922$4,627,247$3,534,637$8,893,373
90$11,976,446$4,792,266$3,591,331$9,626,359
91$13,134,383$4,963,426$3,647,981$10,428,717
92$14,408,424$5,140,969$3,704,522$11,307,353
93$15,810,349$5,325,142$3,760,889$12,269,868
94$17,353,137$5,516,206$3,817,011$13,324,635
95$19,051,088$5,714,431$3,872,813$14,480,874
96$20,919,961$5,920,100$3,928,213$15,748,739
97$22,977,116$6,133,504$3,983,128$17,139,413
98$25,241,686$6,354,950$4,037,466$18,665,214
99$27,734,751$6,584,755$4,091,134$20,339,707
100$30,479,538$6,823,250$4,144,030$22,177,835