Can I retire at age 74 with 2,890,000?

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 $2,890,000?

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$238,653$236,528$234,454$232,429$230,453$222,099
2 years$118,145$115,945$113,812$111,745$109,739$101,415
3 years$77,981$75,771$73,644$71,596$69,623$61,590
4 years$57,903$55,700$53,594$51,581$49,656$41,975
5 years$45,859$43,669$41,591$39,619$37,748$30,439
6 years$37,833$35,659$33,612$31,684$29,868$22,937
7 years$32,102$29,947$27,932$26,049$24,291$17,736
8 years$27,805$25,670$23,688$21,852$20,152$13,967
9 years$24,466$22,350$20,403$18,613$16,971$11,148
10 years$21,795$19,701$17,788$16,044$14,460$8,989
11 years$19,612$17,538$15,660$13,964$12,436$7,305
12 years$17,794$15,741$13,898$12,248$10,777$5,974
13 years$16,257$14,226$12,417$10,813$9,398$4,909
14 years$14,940$12,931$11,156$9,599$8,238$4,050
15 years$13,800$11,812$10,073$8,560$7,253$3,352
16 years$12,804$10,838$9,132$7,665$6,410$2,781
17 years$11,925$9,981$8,310$6,887$5,684$2,313
18 years$11,146$9,223$7,586$6,206$5,054$1,927
19 years$10,449$8,548$6,945$5,608$4,505$1,607
20 years$9,822$7,943$6,374$5,079$4,024$1,343
21 years$9,256$7,399$5,862$4,610$3,601$1,123
22 years$8,742$6,906$5,403$4,191$3,228$939
23 years$8,274$6,459$4,989$3,817$2,897$787
24 years$7,845$6,052$4,614$3,481$2,604$659
25 years$7,451$5,679$4,273$3,179$2,343$552
26 years$7,088$5,338$3,963$2,907$2,111$463
27 years$6,752$5,024$3,680$2,661$1,903$389
28 years$6,441$4,734$3,421$2,438$1,717$326
29 years$6,152$4,466$3,184$2,236$1,551$274
30 years$5,883$4,217$2,966$2,052$1,401$230
31 years$5,631$3,987$2,765$1,884$1,267$193
32 years$5,396$3,772$2,580$1,732$1,146$162
33 years$5,176$3,572$2,409$1,593$1,037$136
34 years$4,968$3,386$2,250$1,465$939$114
35 years$4,774$3,211$2,104$1,349$850$96
36 years$4,590$3,048$1,968$1,242$770$81
37 years$4,417$2,895$1,842$1,145$698$68
38 years$4,253$2,751$1,725$1,055$633$57
39 years$4,098$2,616$1,616$973$574$48
40 years$3,951$2,489$1,515$897$521$40
41 years$3,812$2,369$1,421$828$472$34
42 years$3,679$2,257$1,332$764$429$28
43 years$3,554$2,150$1,250$705$389$24
44 years$3,434$2,049$1,174$651$353$20
45 years$3,320$1,954$1,102$601$321$17
46 years$3,211$1,864$1,035$555$291$14
47 years$3,107$1,779$972$513$264$12
48 years$3,007$1,698$914$474$240$10
49 years$2,913$1,622$859$438$218$8
50 years$2,822$1,549$808$405$198$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,890,000, adding $2,610 every year, while hoping to spend $26,369 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: 69/11/20 Blend
73$2,890,000$2,890,000$2,890,000$2,890,000
74$3,187,472$3,034,302$2,989,507$3,391,527
75$3,484,538$3,154,927$3,061,599$3,648,766
76$3,811,021$3,280,578$3,135,223$3,926,807
77$4,169,893$3,411,474$3,210,401$4,230,405
78$4,564,430$3,547,844$3,287,157$4,562,082
79$4,998,240$3,689,927$3,365,515$4,924,613
80$5,475,298$3,837,971$3,445,497$5,321,056
81$5,999,983$3,992,236$3,527,126$5,754,776
82$6,577,122$4,152,997$3,610,426$6,229,477
83$7,212,032$4,320,537$3,695,418$6,749,240
84$7,910,569$4,495,153$3,782,125$7,318,558
85$8,679,189$4,677,157$3,870,568$7,942,380
86$9,525,003$4,866,875$3,960,768$8,626,156
87$10,455,847$5,064,645$4,052,748$9,375,886
88$11,480,354$5,270,824$4,146,526$10,198,182
89$12,608,039$5,485,783$4,242,123$11,100,324
90$13,849,384$5,709,911$4,339,559$12,090,332
91$15,215,938$5,943,614$4,438,851$13,177,039
92$16,720,429$6,187,316$4,540,018$14,370,176
93$18,376,881$6,441,463$4,643,077$15,680,461
94$20,200,746$6,706,518$4,748,044$17,119,700
95$22,209,053$6,982,968$4,854,934$18,700,902
96$24,420,563$7,271,321$4,963,761$20,438,393
97$26,855,953$7,572,107$5,074,539$22,347,960
98$29,538,004$7,885,884$5,187,280$24,446,992
99$32,491,820$8,213,232$5,301,994$26,754,648
100$35,745,065$8,554,760$5,418,690$29,292,034