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

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$234,525$232,436$230,397$228,408$226,466$225,227
2 years$116,101$113,939$111,843$109,812$107,841$106,591
3 years$76,632$74,460$72,370$70,357$68,419$67,197
4 years$56,901$54,736$52,667$50,689$48,797$47,612
5 years$45,066$42,914$40,872$38,934$37,094$35,950
6 years$37,178$35,042$33,030$31,136$29,352$28,249
7 years$31,546$29,429$27,448$25,598$23,871$22,810
8 years$27,324$25,226$23,278$21,474$19,803$18,785
9 years$24,042$21,964$20,050$18,291$16,677$15,701
10 years$21,418$19,360$17,480$15,767$14,210$13,276
11 years$19,273$17,235$15,389$13,722$12,221$11,328
12 years$17,486$15,469$13,657$12,036$10,590$9,738
13 years$15,975$13,980$12,202$10,626$9,235$8,422
14 years$14,682$12,707$10,963$9,433$8,095$7,321
15 years$13,561$11,608$9,899$8,412$7,128$6,391
16 years$12,582$10,650$8,974$7,532$6,300$5,599
17 years$11,719$9,808$8,166$6,768$5,586$4,921
18 years$10,953$9,063$7,455$6,099$4,966$4,336
19 years$10,268$8,400$6,825$5,511$4,427$3,830
20 years$9,652$7,806$6,263$4,991$3,954$3,389
21 years$9,096$7,271$5,761$4,530$3,538$3,004
22 years$8,591$6,787$5,310$4,119$3,172$2,667
23 years$8,131$6,348$4,903$3,751$2,847$2,371
24 years$7,709$5,947$4,534$3,421$2,559$2,111
25 years$7,322$5,581$4,199$3,124$2,303$1,881
26 years$6,965$5,245$3,895$2,857$2,074$1,677
27 years$6,635$4,937$3,617$2,615$1,870$1,497
28 years$6,330$4,652$3,362$2,396$1,687$1,337
29 years$6,046$4,388$3,129$2,197$1,524$1,195
30 years$5,781$4,144$2,914$2,016$1,377$1,068
31 years$5,534$3,918$2,717$1,852$1,245$956
32 years$5,303$3,707$2,535$1,702$1,126$855
33 years$5,086$3,511$2,367$1,565$1,019$766
34 years$4,882$3,327$2,211$1,440$923$686
35 years$4,691$3,156$2,068$1,326$836$615
36 years$4,511$2,995$1,934$1,221$757$551
37 years$4,340$2,845$1,810$1,125$686$494
38 years$4,179$2,704$1,695$1,037$622$443
39 years$4,027$2,571$1,588$956$564$397
40 years$3,883$2,446$1,489$882$512$356
41 years$3,746$2,328$1,396$813$464$320
42 years$3,616$2,217$1,309$751$421$287
43 years$3,492$2,113$1,229$693$382$258
44 years$3,374$2,014$1,153$640$347$231
45 years$3,262$1,920$1,083$591$315$207
46 years$3,155$1,832$1,017$546$286$186
47 years$3,053$1,748$956$504$260$167
48 years$2,955$1,669$898$466$236$150
49 years$2,862$1,594$844$431$214$135
50 years$2,773$1,522$794$398$195$121

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 $6,086 every year, while hoping to spend $42,021 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: 64/30/6 Blend
73$2,840,000$2,840,000$2,840,000$2,840,000
74$3,135,958$2,985,438$2,941,418$3,333,128
75$3,411,115$3,087,014$2,995,245$3,566,676
76$3,712,931$3,192,159$3,049,468$3,816,107
77$4,044,079$3,301,004$3,104,054$4,087,416
78$4,407,505$3,413,684$3,158,970$4,382,722
79$4,806,455$3,530,339$3,214,180$4,704,356
80$5,244,504$3,651,116$3,269,645$5,054,881
81$5,725,589$3,776,166$3,325,324$5,437,122
82$6,254,048$3,905,648$3,381,172$5,854,184
83$6,834,661$4,039,724$3,437,141$6,309,486
84$7,472,691$4,178,565$3,493,179$6,806,792
85$8,173,938$4,322,347$3,549,233$7,350,244
86$8,944,792$4,471,254$3,605,245$7,944,404
87$9,792,292$4,625,477$3,661,152$8,594,292
88$10,724,193$4,785,213$3,716,888$9,305,436
89$11,749,041$4,950,669$3,772,384$10,083,924
90$12,876,250$5,122,058$3,827,565$10,936,457
91$14,116,190$5,299,602$3,882,352$11,870,417
92$15,480,292$5,483,533$3,936,661$12,893,931
93$16,981,146$5,674,090$3,990,403$14,015,950
94$18,632,625$5,871,523$4,043,484$15,246,331
95$20,450,017$6,076,092$4,095,805$16,595,931
96$22,450,164$6,288,065$4,147,260$18,076,708
97$24,651,625$6,507,724$4,197,737$19,701,833
98$27,074,848$6,735,360$4,247,118$21,485,811
99$29,742,366$6,971,276$4,295,280$23,444,623
100$32,679,006$7,215,787$4,342,091$25,595,870