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%12.2%
1 years$241,957$239,801$237,699$235,646$233,642$231,491
2 years$119,781$117,550$115,388$113,292$111,258$109,091
3 years$79,060$76,820$74,664$72,587$70,587$68,471
4 years$58,704$56,471$54,336$52,295$50,343$48,294
5 years$46,494$44,274$42,167$40,167$38,270$36,294
6 years$38,356$36,153$34,077$32,122$30,282$28,382
7 years$32,546$30,361$28,318$26,409$24,627$22,804
8 years$28,190$26,025$24,016$22,154$20,431$18,684
9 years$24,804$22,660$20,685$18,870$17,206$15,535
10 years$22,097$19,973$18,034$16,267$14,660$13,064
11 years$19,884$17,781$15,877$14,157$12,608$11,086
12 years$18,040$15,959$14,090$12,417$10,926$9,476
13 years$16,482$14,423$12,589$10,963$9,528$8,149
14 years$15,147$13,110$11,311$9,731$8,352$7,042
15 years$13,991$11,976$10,212$8,679$7,354$6,110
16 years$12,981$10,988$9,259$7,771$6,499$5,321
17 years$12,091$10,119$8,425$6,982$5,763$4,647
18 years$11,300$9,351$7,691$6,292$5,124$4,069
19 years$10,593$8,666$7,041$5,686$4,567$3,571
20 years$9,958$8,053$6,462$5,149$4,079$3,139
21 years$9,384$7,501$5,944$4,673$3,651$2,764
22 years$8,863$7,002$5,478$4,249$3,272$2,438
23 years$8,388$6,549$5,058$3,870$2,937$2,153
24 years$7,953$6,136$4,678$3,530$2,640$1,903
25 years$7,554$5,758$4,332$3,223$2,376$1,684
26 years$7,186$5,412$4,018$2,947$2,140$1,491
27 years$6,846$5,093$3,731$2,698$1,929$1,321
28 years$6,530$4,799$3,469$2,472$1,741$1,172
29 years$6,237$4,527$3,228$2,267$1,572$1,039
30 years$5,964$4,276$3,007$2,080$1,420$923
31 years$5,709$4,042$2,803$1,910$1,284$819
32 years$5,471$3,824$2,615$1,756$1,162$728
33 years$5,247$3,622$2,442$1,615$1,051$647
34 years$5,037$3,433$2,282$1,486$952$575
35 years$4,840$3,256$2,133$1,368$862$512
36 years$4,654$3,090$1,995$1,259$781$455
37 years$4,478$2,935$1,868$1,160$708$405
38 years$4,312$2,789$1,749$1,070$642$360
39 years$4,155$2,652$1,639$986$582$321
40 years$4,006$2,524$1,536$910$528$285
41 years$3,865$2,402$1,440$839$479$254
42 years$3,730$2,288$1,351$775$435$226
43 years$3,603$2,180$1,268$715$394$202
44 years$3,481$2,078$1,190$660$358$179
45 years$3,366$1,981$1,117$610$325$160
46 years$3,255$1,890$1,049$563$295$142
47 years$3,150$1,804$986$520$268$127
48 years$3,049$1,722$926$481$243$113
49 years$2,953$1,644$871$444$221$101
50 years$2,861$1,571$819$411$201$90

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 $3,127 every year, while hoping to spend $26,558 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: 57/29/14 Blend
73$2,930,000$2,930,000$2,930,000$2,930,000
74$3,232,086$3,076,796$3,031,381$3,404,556
75$3,533,501$3,199,301$3,104,674$3,644,185
76$3,864,770$3,326,919$3,179,533$3,901,991
77$4,228,911$3,459,872$3,255,982$4,182,300
78$4,629,247$3,598,393$3,334,044$4,487,275
79$5,069,440$3,742,725$3,413,745$4,819,292
80$5,553,526$3,893,121$3,495,108$5,180,967
81$6,085,949$4,049,847$3,578,157$5,575,178
82$6,671,607$4,213,180$3,662,917$6,005,087
83$7,315,896$4,383,411$3,749,409$6,474,176
84$8,024,761$4,560,843$3,837,659$6,986,276
85$8,804,754$4,745,792$3,927,688$7,545,601
86$9,663,093$4,938,589$4,019,520$8,156,790
87$10,607,730$5,139,582$4,113,175$8,824,946
88$11,647,429$5,349,132$4,208,677$9,555,687
89$12,791,845$5,567,618$4,306,046$10,355,197
90$14,051,618$5,795,435$4,405,303$11,230,282
91$15,438,470$6,032,998$4,506,467$12,188,435
92$16,965,318$6,280,740$4,609,558$13,237,904
93$18,646,398$6,539,113$4,714,595$14,387,771
94$20,497,391$6,808,591$4,821,595$15,648,034
95$22,535,582$7,089,668$4,930,576$17,029,701
96$24,780,012$7,382,863$5,041,551$18,544,895
97$27,251,668$7,688,718$5,154,537$20,206,964
98$29,973,671$8,007,798$5,269,548$22,030,608
99$32,971,502$8,340,697$5,386,594$24,032,012
100$36,273,238$8,688,034$5,505,688$26,229,004