Can I retire at age 74 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$240,305$238,165$236,076$234,038$232,047$230,007
2 years$118,963$116,747$114,600$112,518$110,499$108,443
3 years$78,521$76,296$74,154$72,091$70,105$68,097
4 years$58,304$56,085$53,965$51,938$49,999$48,055
5 years$46,177$43,972$41,879$39,893$38,009$36,134
6 years$38,095$35,906$33,845$31,903$30,075$28,271
7 years$32,324$30,154$28,125$26,229$24,459$22,728
8 years$27,998$25,847$23,852$22,003$20,291$18,632
9 years$24,635$22,505$20,544$18,742$17,088$15,501
10 years$21,946$19,837$17,911$16,156$14,560$13,044
11 years$19,748$17,660$15,768$14,060$12,522$11,075
12 years$17,917$15,850$13,994$12,333$10,851$9,473
13 years$16,369$14,324$12,503$10,888$9,463$8,151
14 years$15,044$13,020$11,234$9,665$8,295$7,048
15 years$13,896$11,894$10,142$8,620$7,303$6,120
16 years$12,892$10,913$9,196$7,718$6,455$5,333
17 years$12,008$10,050$8,368$6,934$5,723$4,661
18 years$11,223$9,287$7,639$6,249$5,089$4,084
19 years$10,521$8,607$6,993$5,647$4,536$3,586
20 years$9,890$7,998$6,418$5,114$4,051$3,155
21 years$9,320$7,450$5,903$4,641$3,626$2,781
22 years$8,803$6,954$5,441$4,220$3,250$2,454
23 years$8,331$6,504$5,023$3,843$2,917$2,169
24 years$7,899$6,094$4,646$3,505$2,622$1,918
25 years$7,502$5,719$4,303$3,201$2,359$1,699
26 years$7,137$5,375$3,991$2,927$2,125$1,505
27 years$6,799$5,058$3,706$2,679$1,916$1,335
28 years$6,486$4,766$3,445$2,455$1,729$1,185
29 years$6,195$4,497$3,206$2,251$1,561$1,052
30 years$5,924$4,246$2,986$2,066$1,411$935
31 years$5,670$4,014$2,784$1,897$1,275$831
32 years$5,433$3,798$2,597$1,744$1,154$739
33 years$5,211$3,597$2,425$1,604$1,044$657
34 years$5,003$3,409$2,266$1,475$945$585
35 years$4,807$3,234$2,119$1,358$856$520
36 years$4,622$3,069$1,982$1,251$776$463
37 years$4,447$2,915$1,855$1,152$703$413
38 years$4,282$2,770$1,737$1,062$637$367
39 years$4,126$2,634$1,627$979$578$327
40 years$3,978$2,506$1,525$903$524$292
41 years$3,838$2,386$1,430$834$476$260
42 years$3,705$2,272$1,342$769$432$232
43 years$3,578$2,165$1,259$710$392$206
44 years$3,457$2,064$1,182$656$356$184
45 years$3,343$1,968$1,110$606$323$164
46 years$3,233$1,877$1,042$559$293$146
47 years$3,128$1,791$979$517$266$130
48 years$3,028$1,710$920$477$242$116
49 years$2,933$1,633$865$441$219$104
50 years$2,841$1,560$813$408$199$92

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,910,000, adding $5,646 every year, while hoping to spend $34,842 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: 60/12/28 Blend
73$2,910,000$2,910,000$2,910,000$2,910,000
74$3,212,644$3,058,414$3,013,309$3,380,739
75$3,503,262$3,171,205$3,077,183$3,608,858
76$3,822,355$3,288,354$3,142,029$3,853,444
77$4,172,792$3,410,040$3,207,843$4,119,607
78$4,557,730$3,536,445$3,274,620$4,409,459
79$4,980,650$3,667,763$3,342,352$4,725,323
80$5,445,387$3,804,193$3,411,030$5,069,755
81$5,956,162$3,945,945$3,480,646$5,445,574
82$6,517,631$4,093,236$3,551,188$5,855,878
83$7,134,918$4,246,294$3,622,641$6,304,084
84$7,813,672$4,405,354$3,694,992$6,793,950
85$8,560,115$4,570,665$3,768,223$7,329,617
86$9,381,103$4,742,484$3,842,314$7,915,645
87$10,284,189$4,921,079$3,917,245$8,557,056
88$11,277,696$5,106,731$3,992,993$9,259,382
89$12,370,792$5,299,733$4,069,529$10,028,714
90$13,573,582$5,500,389$4,146,828$10,871,764
91$14,897,197$5,709,018$4,224,856$11,795,922
92$16,353,902$5,925,951$4,303,580$12,809,331
93$17,957,214$6,151,536$4,382,963$13,920,960
94$19,722,022$6,386,133$4,462,965$15,140,689
95$21,664,735$6,630,121$4,543,541$16,479,403
96$23,803,434$6,883,892$4,624,645$17,949,091
97$26,158,040$7,147,859$4,706,227$19,562,964
98$28,750,506$7,422,450$4,788,231$21,335,575
99$31,605,020$7,708,112$4,870,600$23,282,957
100$34,748,236$8,005,314$4,953,269$25,422,774