Can I retire at age 74 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$234,525$232,436$230,397$228,408$226,466$219,833
2 years$116,101$113,939$111,843$109,812$107,841$101,212
3 years$76,632$74,460$72,370$70,357$68,419$62,002
4 years$56,901$54,736$52,667$50,689$48,797$42,641
5 years$45,066$42,914$40,872$38,934$37,094$31,217
6 years$37,178$35,042$33,030$31,136$29,352$23,757
7 years$31,546$29,429$27,448$25,598$23,871$18,559
8 years$27,324$25,226$23,278$21,474$19,803$14,771
9 years$24,042$21,964$20,050$18,291$16,677$11,920
10 years$21,418$19,360$17,480$15,767$14,210$9,721
11 years$19,273$17,235$15,389$13,722$12,221$7,993
12 years$17,486$15,469$13,657$12,036$10,590$6,615
13 years$15,975$13,980$12,202$10,626$9,235$5,503
14 years$14,682$12,707$10,963$9,433$8,095$4,597
15 years$13,561$11,608$9,899$8,412$7,128$3,853
16 years$12,582$10,650$8,974$7,532$6,300$3,240
17 years$11,719$9,808$8,166$6,768$5,586$2,730
18 years$10,953$9,063$7,455$6,099$4,966$2,305
19 years$10,268$8,400$6,825$5,511$4,427$1,949
20 years$9,652$7,806$6,263$4,991$3,954$1,651
21 years$9,096$7,271$5,761$4,530$3,538$1,399
22 years$8,591$6,787$5,310$4,119$3,172$1,188
23 years$8,131$6,348$4,903$3,751$2,847$1,009
24 years$7,709$5,947$4,534$3,421$2,559$857
25 years$7,322$5,581$4,199$3,124$2,303$729
26 years$6,965$5,245$3,895$2,857$2,074$620
27 years$6,635$4,937$3,617$2,615$1,870$528
28 years$6,330$4,652$3,362$2,396$1,687$450
29 years$6,046$4,388$3,129$2,197$1,524$383
30 years$5,781$4,144$2,914$2,016$1,377$326
31 years$5,534$3,918$2,717$1,852$1,245$278
32 years$5,303$3,707$2,535$1,702$1,126$237
33 years$5,086$3,511$2,367$1,565$1,019$202
34 years$4,882$3,327$2,211$1,440$923$172
35 years$4,691$3,156$2,068$1,326$836$147
36 years$4,511$2,995$1,934$1,221$757$125
37 years$4,340$2,845$1,810$1,125$686$107
38 years$4,179$2,704$1,695$1,037$622$91
39 years$4,027$2,571$1,588$956$564$78
40 years$3,883$2,446$1,489$882$512$66
41 years$3,746$2,328$1,396$813$464$57
42 years$3,616$2,217$1,309$751$421$48
43 years$3,492$2,113$1,229$693$382$41
44 years$3,374$2,014$1,153$640$347$35
45 years$3,262$1,920$1,083$591$315$30
46 years$3,155$1,832$1,017$546$286$26
47 years$3,053$1,748$956$504$260$22
48 years$2,955$1,669$898$466$236$19
49 years$2,862$1,594$844$431$214$16
50 years$2,773$1,522$794$398$195$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,840,000, adding $2,862 every year, while hoping to spend $46,275 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: 45/31/24 Blend
73$2,840,000$2,840,000$2,840,000$2,840,000
74$3,132,632$2,982,112$2,938,092$3,251,786
75$3,402,924$3,078,999$2,987,282$3,433,139
76$3,699,235$3,179,083$3,036,569$3,624,958
77$4,024,171$3,282,471$3,085,907$3,832,063
78$4,380,599$3,389,275$3,135,248$4,055,900
79$4,771,680$3,499,610$3,184,539$4,298,061
80$5,200,897$3,613,596$3,233,726$4,560,298
81$5,672,082$3,731,356$3,282,750$4,844,538
82$6,189,460$3,853,018$3,331,547$5,152,902
83$6,757,684$3,978,715$3,380,053$5,487,724
84$7,381,878$4,108,583$3,428,195$5,851,573
85$8,067,690$4,242,764$3,475,901$6,247,276
86$8,821,341$4,381,405$3,523,089$6,677,946
87$9,649,682$4,524,658$3,569,677$7,147,012
88$10,560,263$4,672,680$3,615,575$7,658,245
89$11,561,403$4,825,635$3,660,690$8,215,800
90$12,662,265$4,983,689$3,704,921$8,824,252
91$13,872,945$5,147,019$3,748,165$9,488,638
92$15,204,567$5,315,805$3,790,310$10,214,506
93$16,669,386$5,490,233$3,831,240$11,007,967
94$18,280,907$5,670,498$3,870,830$11,875,748
95$20,054,007$5,856,800$3,908,950$12,825,260
96$22,005,080$6,049,347$3,945,464$13,864,668
97$24,152,187$6,248,354$3,980,226$15,002,961
98$26,515,231$6,454,044$4,013,084$16,250,045
99$29,116,140$6,666,648$4,043,878$17,616,829
100$31,979,077$6,886,404$4,072,438$19,115,332