Can I retire at age 74 with 2,880,000?

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$237,828$235,709$233,642$231,625$229,655$224,194
2 years$117,736$115,544$113,419$111,358$109,360$103,890
3 years$77,711$75,509$73,389$71,348$69,382$64,075
4 years$57,703$55,507$53,409$51,402$49,484$44,379
5 years$45,701$43,518$41,447$39,482$37,617$32,729
6 years$37,702$35,536$33,496$31,574$29,765$25,099
7 years$31,991$29,843$27,835$25,959$24,207$19,764
8 years$27,709$25,581$23,606$21,776$20,082$15,860
9 years$24,381$22,273$20,332$18,548$16,912$12,907
10 years$21,720$19,632$17,726$15,989$14,410$10,618
11 years$19,544$17,478$15,606$13,915$12,393$8,809
12 years$17,732$15,687$13,850$12,205$10,739$7,358
13 years$16,200$14,176$12,374$10,776$9,365$6,179
14 years$14,888$12,886$11,118$9,565$8,209$5,212
15 years$13,752$11,772$10,038$8,531$7,228$4,412
16 years$12,759$10,800$9,101$7,638$6,388$3,746
17 years$11,884$9,947$8,281$6,863$5,664$3,189
18 years$11,107$9,191$7,560$6,185$5,036$2,721
19 years$10,413$8,518$6,921$5,589$4,489$2,325
20 years$9,788$7,916$6,351$5,062$4,010$1,990
21 years$9,224$7,373$5,842$4,594$3,588$1,705
22 years$8,712$6,882$5,384$4,177$3,216$1,463
23 years$8,245$6,437$4,972$3,804$2,887$1,256
24 years$7,818$6,031$4,598$3,469$2,595$1,080
25 years$7,425$5,660$4,259$3,168$2,335$929
26 years$7,063$5,319$3,950$2,897$2,103$799
27 years$6,729$5,006$3,668$2,652$1,896$688
28 years$6,419$4,717$3,409$2,429$1,711$592
29 years$6,131$4,450$3,173$2,228$1,545$510
30 years$5,862$4,203$2,955$2,045$1,396$440
31 years$5,612$3,973$2,755$1,878$1,262$379
32 years$5,377$3,759$2,571$1,726$1,142$327
33 years$5,158$3,560$2,400$1,587$1,033$282
34 years$4,951$3,374$2,243$1,460$936$243
35 years$4,757$3,200$2,097$1,344$847$210
36 years$4,574$3,038$1,961$1,238$768$181
37 years$4,401$2,885$1,836$1,141$696$156
38 years$4,238$2,742$1,719$1,051$631$135
39 years$4,084$2,607$1,611$969$572$116
40 years$3,937$2,480$1,510$894$519$101
41 years$3,799$2,361$1,416$825$471$87
42 years$3,667$2,249$1,328$761$427$75
43 years$3,541$2,143$1,246$703$388$65
44 years$3,422$2,042$1,170$649$352$56
45 years$3,308$1,948$1,098$599$319$48
46 years$3,200$1,858$1,031$554$290$42
47 years$3,096$1,773$969$511$263$36
48 years$2,997$1,693$911$473$239$31
49 years$2,902$1,616$856$437$217$27
50 years$2,812$1,544$805$404$197$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,880,000, adding $3,542 every year, while hoping to spend $32,471 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: 75/7/18 Blend
73$2,880,000$2,880,000$2,880,000$2,880,000
74$3,177,414$3,024,774$2,980,134$3,402,322
75$3,466,961$3,138,439$3,045,419$3,665,408
76$3,784,954$3,256,585$3,111,804$3,949,347
77$4,134,259$3,379,398$3,179,289$4,259,717
78$4,518,036$3,507,071$3,247,878$4,599,143
79$4,939,764$3,639,805$3,317,569$4,970,515
80$5,403,275$3,777,811$3,388,364$5,377,017
81$5,912,794$3,921,309$3,460,259$5,822,156
82$6,472,974$4,070,527$3,533,252$6,309,792
83$7,088,939$4,225,705$3,607,338$6,844,181
84$7,766,338$4,387,092$3,682,511$7,430,006
85$8,511,393$4,554,948$3,758,764$8,072,429
86$9,330,960$4,729,545$3,836,087$8,777,133
87$10,232,591$4,911,167$3,914,470$9,550,381
88$11,224,610$5,100,109$3,993,899$10,399,071
89$12,316,187$5,296,680$4,074,361$11,330,801
90$13,517,424$5,501,203$4,155,838$12,353,944
91$14,839,454$5,714,015$4,238,312$13,477,720
92$16,294,544$5,935,468$4,321,761$14,712,291
93$17,896,209$6,165,928$4,406,161$16,068,849
94$19,659,343$6,405,778$4,491,488$17,559,728
95$21,600,354$6,655,419$4,577,711$19,198,513
96$23,737,324$6,915,269$4,664,798$21,000,175
97$26,090,178$7,185,764$4,752,716$22,981,206
98$28,680,870$7,467,361$4,841,426$25,159,779
99$31,533,592$7,760,534$4,930,887$27,555,914
100$34,675,001$8,065,783$5,021,054$30,191,674