Can I retire at age 74 with 2,800,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$231,221$229,162$227,152$225,191$223,276$215,183
2 years$114,466$112,334$110,268$108,265$106,322$98,257
3 years$75,553$73,412$71,351$69,366$67,455$59,672
4 years$56,100$53,965$51,925$49,975$48,109$40,668
5 years$44,431$42,309$40,296$38,385$36,572$29,491
6 years$36,655$34,549$32,565$30,697$28,938$22,223
7 years$31,102$29,014$27,062$25,238$23,535$17,183
8 years$26,940$24,870$22,951$21,171$19,524$13,532
9 years$23,704$21,654$19,767$18,033$16,442$10,800
10 years$21,117$19,087$17,234$15,545$14,010$8,709
11 years$19,001$16,992$15,172$13,529$12,049$7,078
12 years$17,240$15,251$13,465$11,866$10,441$5,788
13 years$15,750$13,783$12,030$10,476$9,105$4,756
14 years$14,475$12,528$10,809$9,300$7,981$3,924
15 years$13,370$11,445$9,759$8,294$7,027$3,248
16 years$12,405$10,500$8,848$7,426$6,211$2,695
17 years$11,554$9,670$8,051$6,672$5,507$2,241
18 years$10,799$8,936$7,350$6,013$4,896$1,867
19 years$10,123$8,282$6,728$5,433$4,364$1,557
20 years$9,516$7,696$6,175$4,921$3,898$1,301
21 years$8,968$7,168$5,680$4,466$3,489$1,088
22 years$8,470$6,691$5,235$4,061$3,127$910
23 years$8,016$6,258$4,833$3,698$2,807$762
24 years$7,601$5,864$4,470$3,373$2,523$639
25 years$7,219$5,503$4,140$3,080$2,270$535
26 years$6,867$5,172$3,840$2,816$2,045$449
27 years$6,542$4,867$3,566$2,578$1,844$377
28 years$6,241$4,586$3,315$2,362$1,664$316
29 years$5,961$4,327$3,085$2,166$1,502$265
30 years$5,700$4,086$2,873$1,988$1,357$223
31 years$5,456$3,863$2,679$1,826$1,227$187
32 years$5,228$3,655$2,499$1,678$1,110$157
33 years$5,014$3,461$2,334$1,543$1,005$132
34 years$4,814$3,280$2,180$1,420$910$111
35 years$4,625$3,111$2,038$1,307$824$93
36 years$4,447$2,953$1,907$1,204$746$78
37 years$4,279$2,805$1,785$1,109$677$66
38 years$4,120$2,666$1,671$1,022$613$55
39 years$3,970$2,535$1,566$942$556$46
40 years$3,828$2,412$1,468$869$504$39
41 years$3,693$2,296$1,376$802$458$33
42 years$3,565$2,186$1,291$740$415$27
43 years$3,443$2,083$1,211$683$377$23
44 years$3,327$1,986$1,137$631$342$19
45 years$3,216$1,893$1,068$583$311$16
46 years$3,111$1,806$1,003$538$282$14
47 years$3,010$1,724$942$497$256$12
48 years$2,914$1,646$885$459$233$10
49 years$2,822$1,571$832$425$211$8
50 years$2,734$1,501$782$392$192$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,800,000, adding $2,617 every year, while hoping to spend $37,156 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: 32/41/27 Blend
73$2,800,000$2,800,000$2,800,000$2,800,000
74$3,088,299$2,939,899$2,896,499$3,161,566
75$3,363,772$3,044,421$2,953,998$3,322,316
76$3,666,098$3,152,818$3,012,178$3,491,861
77$3,997,977$3,265,243$3,071,023$3,673,747
78$4,362,382$3,381,851$3,130,514$3,869,085
79$4,762,589$3,502,807$3,190,630$4,079,096
80$5,202,208$3,628,279$3,251,352$4,305,119
81$5,685,214$3,758,446$3,312,653$4,548,625
82$6,215,987$3,893,490$3,374,507$4,811,230
83$6,799,351$4,033,605$3,436,887$5,094,712
84$7,440,622$4,178,989$3,499,760$5,401,021
85$8,145,657$4,329,850$3,563,093$5,732,303
86$8,920,907$4,486,406$3,626,850$6,090,916
87$9,773,481$4,648,881$3,690,990$6,479,453
88$10,711,210$4,817,511$3,755,473$6,900,766
89$11,742,725$4,992,540$3,820,253$7,357,989
90$12,877,531$5,174,223$3,885,280$7,854,571
91$14,126,105$5,362,826$3,950,502$8,394,307
92$15,499,988$5,558,624$4,015,864$8,981,369
93$17,011,897$5,761,907$4,081,306$9,620,350
94$18,675,844$5,972,975$4,146,763$10,316,302
95$20,507,269$6,192,139$4,212,169$11,074,786
96$22,523,184$6,419,728$4,277,450$11,901,922
97$24,742,334$6,656,079$4,342,529$12,804,443
98$27,185,373$6,901,548$4,407,325$13,789,763
99$29,875,061$7,156,504$4,471,750$14,866,043
100$32,836,476$7,421,331$4,535,712$16,042,266