Can I retire at age 74 with 2,710,000?

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 $2,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$223,789$221,796$219,851$217,953$216,099$213,222
2 years$110,787$108,723$106,724$104,785$102,904$100,010
3 years$73,124$71,052$69,057$67,137$65,287$62,466
4 years$54,297$52,231$50,256$48,368$46,563$43,837
5 years$43,003$40,950$39,001$37,151$35,397$32,773
6 years$35,476$33,438$31,518$29,710$28,008$25,490
7 years$30,102$28,081$26,192$24,426$22,778$20,367
8 years$26,074$24,071$22,213$20,491$18,897$16,592
9 years$22,942$20,958$19,132$17,454$15,914$13,714
10 years$20,438$18,474$16,680$15,045$13,559$11,464
11 years$18,391$16,446$14,684$13,094$11,661$9,668
12 years$16,686$14,761$13,032$11,485$10,106$8,212
13 years$15,244$13,340$11,643$10,140$8,812$7,015
14 years$14,010$12,125$10,462$9,001$7,725$6,022
15 years$12,941$11,077$9,445$8,027$6,801$5,191
16 years$12,006$10,163$8,564$7,187$6,011$4,489
17 years$11,183$9,359$7,793$6,458$5,330$3,893
18 years$10,451$8,649$7,114$5,820$4,739$3,384
19 years$9,798$8,015$6,512$5,259$4,224$2,948
20 years$9,210$7,448$5,977$4,763$3,773$2,573
21 years$8,680$6,938$5,497$4,322$3,376$2,249
22 years$8,198$6,476$5,067$3,930$3,026$1,969
23 years$7,758$6,057$4,678$3,579$2,717$1,725
24 years$7,356$5,675$4,326$3,264$2,442$1,513
25 years$6,987$5,326$4,007$2,981$2,197$1,328
26 years$6,646$5,005$3,716$2,726$1,979$1,167
27 years$6,332$4,711$3,451$2,495$1,784$1,026
28 years$6,040$4,439$3,208$2,286$1,610$902
29 years$5,769$4,187$2,985$2,096$1,454$794
30 years$5,516$3,955$2,781$1,924$1,314$699
31 years$5,281$3,738$2,593$1,767$1,188$616
32 years$5,060$3,537$2,419$1,624$1,074$543
33 years$4,853$3,350$2,259$1,493$972$478
34 years$4,659$3,175$2,110$1,374$880$422
35 years$4,476$3,011$1,973$1,265$797$372
36 years$4,304$2,858$1,846$1,165$722$328
37 years$4,142$2,715$1,727$1,073$655$289
38 years$3,988$2,580$1,618$989$594$255
39 years$3,843$2,453$1,516$912$538$225
40 years$3,705$2,334$1,421$841$488$199
41 years$3,574$2,222$1,332$776$443$176
42 years$3,450$2,116$1,250$716$402$155
43 years$3,332$2,016$1,172$661$365$137
44 years$3,220$1,922$1,101$611$331$121
45 years$3,113$1,833$1,033$564$301$107
46 years$3,011$1,748$971$521$273$94
47 years$2,913$1,668$912$481$248$83
48 years$2,820$1,593$857$445$225$73
49 years$2,731$1,521$805$411$204$65
50 years$2,646$1,453$757$380$186$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,710,000, adding $2,130 every year, while hoping to spend $21,770 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: 78/5/17 Blend
73$2,710,000$2,710,000$2,710,000$2,710,000
74$2,988,617$2,844,987$2,802,982$3,210,393
75$3,270,293$2,961,228$2,873,719$3,473,259
76$3,579,970$3,082,436$2,946,096$3,758,583
77$3,920,482$3,208,830$3,020,145$4,070,978
78$4,294,949$3,340,641$3,095,898$4,413,146
79$4,706,811$3,478,110$3,173,388$4,788,062
80$5,159,858$3,621,489$3,252,648$5,199,001
81$5,658,263$3,771,041$3,333,711$5,649,571
82$6,206,626$3,927,043$3,416,611$6,143,746
83$6,810,016$4,089,782$3,501,381$6,685,905
84$7,474,017$4,259,560$3,588,057$7,280,869
85$8,204,781$4,436,693$3,676,671$7,933,949
86$9,009,088$4,621,510$3,767,259$8,650,996
87$9,894,408$4,814,357$3,859,855$9,438,455
88$10,868,972$5,015,595$3,954,495$10,303,427
89$11,941,850$5,225,602$4,051,213$11,253,733
90$13,123,034$5,444,773$4,150,045$12,297,991
91$14,423,538$5,673,521$4,251,026$13,445,694
92$15,855,495$5,912,280$4,354,191$14,707,300
93$17,432,276$6,161,501$4,459,576$16,094,333
94$19,168,612$6,421,659$4,567,217$17,619,488
95$21,080,740$6,693,250$4,677,148$19,296,751
96$23,186,548$6,976,792$4,789,405$21,141,533
97$25,505,749$7,272,828$4,904,023$23,170,813
98$28,060,065$7,581,926$5,021,037$25,403,299
99$30,873,432$7,904,681$5,140,483$27,859,602
100$33,972,227$8,241,715$5,262,394$30,562,433