Can I retire at age 74 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$244,434$242,257$240,132$238,059$236,035$231,933
2 years$121,007$118,753$116,569$114,451$112,397$108,279
3 years$79,870$77,607$75,428$73,330$71,310$67,302
4 years$59,306$57,049$54,892$52,830$50,859$46,993
5 years$46,970$44,727$42,599$40,579$38,662$34,949
6 years$38,749$36,523$34,426$32,451$30,592$27,036
7 years$32,879$30,672$28,608$26,680$24,879$21,481
8 years$28,479$26,292$24,262$22,381$20,640$17,399
9 years$25,058$22,892$20,897$19,064$17,382$14,297
10 years$22,323$20,178$18,218$16,433$14,810$11,878
11 years$20,087$17,963$16,039$14,302$12,737$9,954
12 years$18,225$16,123$14,234$12,545$11,038$8,401
13 years$16,650$14,570$12,717$11,075$9,625$7,130
14 years$15,302$13,244$11,427$9,831$8,437$6,080
15 years$14,135$12,099$10,317$8,768$7,429$5,204
16 years$13,114$11,100$9,354$7,850$6,566$4,470
17 years$12,214$10,223$8,511$7,054$5,822$3,849
18 years$11,416$9,446$7,770$6,357$5,176$3,322
19 years$10,702$8,755$7,113$5,744$4,614$2,873
20 years$10,060$8,135$6,528$5,202$4,121$2,489
21 years$9,480$7,578$6,004$4,721$3,688$2,159
22 years$8,954$7,074$5,534$4,293$3,306$1,875
23 years$8,474$6,616$5,110$3,909$2,967$1,630
24 years$8,035$6,199$4,726$3,566$2,667$1,419
25 years$7,631$5,817$4,377$3,256$2,400$1,236
26 years$7,260$5,467$4,059$2,977$2,162$1,077
27 years$6,916$5,145$3,769$2,725$1,949$939
28 years$6,597$4,848$3,504$2,497$1,759$820
29 years$6,301$4,574$3,261$2,290$1,588$716
30 years$6,025$4,319$3,037$2,101$1,435$625
31 years$5,768$4,083$2,832$1,930$1,297$546
32 years$5,527$3,864$2,642$1,774$1,173$477
33 years$5,301$3,659$2,467$1,631$1,062$417
34 years$5,089$3,468$2,305$1,501$962$365
35 years$4,889$3,289$2,155$1,382$871$319
36 years$4,701$3,122$2,016$1,272$789$279
37 years$4,524$2,965$1,887$1,172$715$244
38 years$4,356$2,818$1,767$1,081$648$213
39 years$4,197$2,680$1,655$996$588$187
40 years$4,047$2,549$1,552$919$533$163
41 years$3,904$2,427$1,455$848$484$143
42 years$3,769$2,311$1,365$782$439$125
43 years$3,640$2,202$1,281$722$398$110
44 years$3,517$2,099$1,202$667$362$96
45 years$3,400$2,002$1,129$616$328$84
46 years$3,288$1,909$1,060$569$298$73
47 years$3,182$1,822$996$526$271$64
48 years$3,080$1,740$936$486$246$56
49 years$2,983$1,661$880$449$223$49
50 years$2,890$1,587$827$415$203$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,960,000, adding $3,167 every year, while hoping to spend $30,213 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: 32/44/24 Blend
73$2,960,000$2,960,000$2,960,000$2,960,000
74$3,265,187$3,108,307$3,062,427$3,345,507
75$3,566,089$3,228,467$3,132,872$3,526,755
76$3,896,672$3,353,503$3,204,664$3,718,914
77$4,259,929$3,483,621$3,277,817$3,925,280
78$4,659,160$3,619,038$3,352,342$4,147,120
79$5,098,002$3,759,979$3,428,254$4,385,824
80$5,580,460$3,906,679$3,505,562$4,642,916
81$6,110,946$4,059,385$3,584,277$4,920,068
82$6,694,321$4,218,354$3,664,409$5,219,115
83$7,335,943$4,383,854$3,745,968$5,542,073
84$8,041,713$4,556,167$3,828,961$5,891,154
85$8,818,132$4,735,583$3,913,396$6,268,789
86$9,672,365$4,922,411$3,999,279$6,677,646
87$10,612,306$5,116,968$4,086,614$7,120,658
88$11,646,652$5,319,590$4,175,406$7,601,047
89$12,784,985$5,530,625$4,265,657$8,122,355
90$14,037,865$5,750,437$4,357,368$8,688,472
91$15,416,927$5,979,408$4,450,539$9,303,679
92$16,934,989$6,217,935$4,545,168$9,972,678
93$18,606,179$6,466,434$4,641,252$10,700,643
94$20,446,060$6,725,340$4,738,784$11,493,261
95$22,471,783$6,995,107$4,837,759$12,356,789
96$24,702,247$7,276,210$4,938,166$13,298,108
97$27,158,277$7,569,145$5,039,995$14,324,788
98$29,862,818$7,874,430$5,143,232$15,445,156
99$32,841,156$8,192,607$5,247,861$16,668,376
100$36,121,152$8,524,243$5,353,863$18,004,530