Can I retire at age 74 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$241,957$239,801$237,699$235,646$233,642$230,436
2 years$119,781$117,550$115,388$113,292$111,258$108,034
3 years$79,060$76,820$74,664$72,587$70,587$67,444
4 years$58,704$56,471$54,336$52,295$50,343$47,307
5 years$46,494$44,274$42,167$40,167$38,270$35,349
6 years$38,356$36,153$34,077$32,122$30,282$27,479
7 years$32,546$30,361$28,318$26,409$24,627$21,944
8 years$28,190$26,025$24,016$22,154$20,431$17,866
9 years$24,804$22,660$20,685$18,870$17,206$14,759
10 years$22,097$19,973$18,034$16,267$14,660$12,329
11 years$19,884$17,781$15,877$14,157$12,608$10,391
12 years$18,040$15,959$14,090$12,417$10,926$8,820
13 years$16,482$14,423$12,589$10,963$9,528$7,531
14 years$15,147$13,110$11,311$9,731$8,352$6,460
15 years$13,991$11,976$10,212$8,679$7,354$5,564
16 years$12,981$10,988$9,259$7,771$6,499$4,809
17 years$12,091$10,119$8,425$6,982$5,763$4,167
18 years$11,300$9,351$7,691$6,292$5,124$3,620
19 years$10,593$8,666$7,041$5,686$4,567$3,152
20 years$9,958$8,053$6,462$5,149$4,079$2,749
21 years$9,384$7,501$5,944$4,673$3,651$2,401
22 years$8,863$7,002$5,478$4,249$3,272$2,100
23 years$8,388$6,549$5,058$3,870$2,937$1,838
24 years$7,953$6,136$4,678$3,530$2,640$1,611
25 years$7,554$5,758$4,332$3,223$2,376$1,413
26 years$7,186$5,412$4,018$2,947$2,140$1,241
27 years$6,846$5,093$3,731$2,698$1,929$1,090
28 years$6,530$4,799$3,469$2,472$1,741$958
29 years$6,237$4,527$3,228$2,267$1,572$842
30 years$5,964$4,276$3,007$2,080$1,420$741
31 years$5,709$4,042$2,803$1,910$1,284$652
32 years$5,471$3,824$2,615$1,756$1,162$574
33 years$5,247$3,622$2,442$1,615$1,051$506
34 years$5,037$3,433$2,282$1,486$952$446
35 years$4,840$3,256$2,133$1,368$862$393
36 years$4,654$3,090$1,995$1,259$781$346
37 years$4,478$2,935$1,868$1,160$708$305
38 years$4,312$2,789$1,749$1,070$642$269
39 years$4,155$2,652$1,639$986$582$237
40 years$4,006$2,524$1,536$910$528$209
41 years$3,865$2,402$1,440$839$479$184
42 years$3,730$2,288$1,351$775$435$163
43 years$3,603$2,180$1,268$715$394$143
44 years$3,481$2,078$1,190$660$358$126
45 years$3,366$1,981$1,117$610$325$112
46 years$3,255$1,890$1,049$563$295$98
47 years$3,150$1,804$986$520$268$87
48 years$3,049$1,722$926$481$243$77
49 years$2,953$1,644$871$444$221$68
50 years$2,861$1,571$819$411$201$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,930,000, adding $5,766 every year, while hoping to spend $57,247 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: 51/34/15 Blend
73$2,930,000$2,930,000$2,930,000$2,930,000
74$3,234,808$3,079,518$3,034,103$3,386,291
75$3,503,848$3,169,504$3,074,835$3,580,833
76$3,798,411$3,261,980$3,115,013$3,785,737
77$4,121,041$3,357,009$3,154,557$4,007,230
78$4,474,537$3,454,653$3,193,385$4,246,898
79$4,861,985$3,554,976$3,231,408$4,506,482
80$5,286,780$3,658,042$3,268,533$4,787,900
81$5,752,663$3,763,918$3,304,661$5,093,264
82$6,263,756$3,872,671$3,339,688$5,424,896
83$6,824,596$3,984,369$3,373,505$5,785,356
84$7,440,183$4,099,081$3,405,995$6,177,459
85$8,116,023$4,216,878$3,437,038$6,604,307
86$8,858,183$4,337,830$3,466,504$7,069,316
87$9,673,344$4,462,010$3,494,258$7,576,244
88$10,568,868$4,589,491$3,520,158$8,129,234
89$11,552,864$4,720,348$3,544,055$8,732,847
90$12,634,265$4,854,654$3,565,790$9,392,106
91$13,822,914$4,992,486$3,585,198$10,112,544
92$15,129,654$5,133,921$3,602,105$10,900,255
93$16,566,431$5,279,035$3,616,328$11,761,953
94$18,146,406$5,427,907$3,627,674$12,705,033
95$19,884,080$5,580,614$3,635,941$13,737,642
96$21,795,428$5,737,237$3,640,918$14,868,754
97$23,898,054$5,897,854$3,642,381$16,108,255
98$26,211,352$6,062,545$3,640,097$17,467,039
99$28,756,691$6,231,391$3,633,821$18,957,107
100$31,557,616$6,404,471$3,623,296$20,591,679