Can I retire at age 74 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$233,699$231,617$229,586$227,604$225,668$224,340
2 years$115,692$113,538$111,450$109,425$107,461$106,121
3 years$76,362$74,198$72,115$70,110$68,178$66,867
4 years$56,701$54,544$52,481$50,510$48,625$47,354
5 years$44,907$42,763$40,728$38,797$36,964$35,737
6 years$37,047$34,919$32,914$31,026$29,248$28,066
7 years$31,435$29,325$27,352$25,508$23,787$22,651
8 years$27,228$25,137$23,196$21,398$19,733$18,643
9 years$23,958$21,886$19,979$18,226$16,618$15,573
10 years$21,343$19,292$17,418$15,711$14,160$13,160
11 years$19,205$17,174$15,335$13,674$12,178$11,222
12 years$17,424$15,415$13,609$11,994$10,553$9,641
13 years$15,919$13,930$12,159$10,589$9,202$8,333
14 years$14,630$12,662$10,925$9,399$8,067$7,239
15 years$13,514$11,567$9,864$8,383$7,103$6,315
16 years$12,538$10,613$8,943$7,506$6,277$5,529
17 years$11,678$9,774$8,138$6,744$5,566$4,856
18 years$10,914$9,032$7,429$6,077$4,949$4,276
19 years$10,232$8,370$6,801$5,492$4,411$3,774
20 years$9,618$7,778$6,241$4,974$3,940$3,337
21 years$9,064$7,245$5,741$4,514$3,526$2,956
22 years$8,561$6,763$5,291$4,104$3,160$2,623
23 years$8,102$6,325$4,885$3,738$2,837$2,330
24 years$7,682$5,926$4,518$3,409$2,550$2,072
25 years$7,296$5,562$4,185$3,113$2,295$1,845
26 years$6,941$5,227$3,881$2,847$2,067$1,644
27 years$6,612$4,919$3,604$2,606$1,863$1,466
28 years$6,307$4,635$3,350$2,387$1,681$1,308
29 years$6,024$4,373$3,118$2,189$1,518$1,168
30 years$5,761$4,130$2,904$2,009$1,372$1,044
31 years$5,514$3,904$2,707$1,845$1,240$933
32 years$5,284$3,694$2,526$1,696$1,122$835
33 years$5,068$3,498$2,359$1,559$1,015$747
34 years$4,865$3,316$2,204$1,435$919$668
35 years$4,674$3,145$2,060$1,321$833$598
36 years$4,495$2,985$1,927$1,216$754$536
37 years$4,325$2,835$1,804$1,121$684$480
38 years$4,165$2,694$1,689$1,033$620$430
39 years$4,013$2,562$1,583$953$562$385
40 years$3,869$2,437$1,483$879$510$345
41 years$3,733$2,320$1,391$811$463$310
42 years$3,603$2,210$1,305$748$420$278
43 years$3,480$2,105$1,224$691$381$249
44 years$3,362$2,007$1,149$638$346$223
45 years$3,251$1,914$1,079$589$314$200
46 years$3,144$1,826$1,014$544$285$180
47 years$3,042$1,742$952$503$259$161
48 years$2,945$1,663$895$464$235$144
49 years$2,852$1,588$841$429$213$130
50 years$2,763$1,517$791$397$194$116

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,830,000, adding $2,971 every year, while hoping to spend $24,564 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: 79/5/16 Blend
73$2,830,000$2,830,000$2,830,000$2,830,000
74$3,121,725$2,971,735$2,927,870$3,357,460
75$3,414,005$3,091,214$2,999,817$3,632,658
76$3,735,274$3,215,724$3,073,352$3,931,112
77$4,088,463$3,345,486$3,148,501$4,257,899
78$4,476,802$3,480,730$3,225,291$4,615,848
79$4,903,848$3,621,698$3,303,751$5,008,074
80$5,373,521$3,768,642$3,383,906$5,438,005
81$5,890,139$3,921,824$3,465,786$5,909,422
82$6,458,460$4,081,520$3,549,417$6,426,483
83$7,083,727$4,248,019$3,634,826$6,993,775
84$7,771,716$4,421,621$3,722,042$7,616,345
85$8,528,792$4,602,641$3,811,091$8,299,756
86$9,361,966$4,791,408$3,902,001$9,050,134
87$10,278,967$4,988,267$3,994,798$9,874,229
88$11,288,307$5,193,578$4,089,509$10,779,476
89$12,399,368$5,407,716$4,186,161$11,774,066
90$13,622,486$5,631,077$4,284,780$12,867,023
91$14,969,051$5,864,071$4,385,391$14,068,290
92$16,451,613$6,107,130$4,488,021$15,388,818
93$18,084,002$6,360,704$4,592,694$16,840,675
94$19,881,456$6,625,264$4,699,435$18,437,156
95$21,860,766$6,901,304$4,808,268$20,192,910
96$24,040,435$7,189,338$4,919,216$22,124,075
97$26,440,851$7,489,907$5,032,301$24,248,434
98$29,084,481$7,803,576$5,147,546$26,585,578
99$31,996,081$8,130,934$5,264,972$29,157,094
100$35,202,931$8,472,599$5,384,598$31,986,768