Can I retire at age 74 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$247,737$245,530$243,378$241,276$239,224$234,394
2 years$122,642$120,358$118,144$115,998$113,916$109,071
3 years$80,949$78,655$76,447$74,321$72,273$67,564
4 years$60,107$57,820$55,634$53,544$51,546$47,009
5 years$47,605$45,332$43,174$41,127$39,184$34,833
6 years$39,273$37,017$34,891$32,890$31,005$26,844
7 years$33,324$31,087$28,995$27,040$25,216$21,245
8 years$28,864$26,647$24,590$22,684$20,919$17,138
9 years$25,397$23,201$21,179$19,321$17,617$14,024
10 years$22,625$20,450$18,465$16,655$15,010$11,601
11 years$20,359$18,206$16,256$14,495$12,909$9,680
12 years$18,471$16,341$14,427$12,714$11,187$8,132
13 years$16,875$14,767$12,889$11,225$9,755$6,870
14 years$15,509$13,423$11,581$9,964$8,551$5,830
15 years$14,326$12,262$10,456$8,886$7,529$4,967
16 years$13,291$11,250$9,480$7,957$6,654$4,244
17 years$12,379$10,361$8,626$7,149$5,900$3,637
18 years$11,570$9,574$7,875$6,443$5,246$3,123
19 years$10,846$8,873$7,209$5,821$4,676$2,687
20 years$10,196$8,245$6,616$5,272$4,177$2,315
21 years$9,608$7,680$6,086$4,785$3,738$1,998
22 years$9,075$7,169$5,609$4,351$3,350$1,726
23 years$8,589$6,705$5,179$3,962$3,007$1,493
24 years$8,143$6,282$4,789$3,614$2,703$1,292
25 years$7,734$5,896$4,436$3,300$2,432$1,119
26 years$7,358$5,541$4,114$3,018$2,191$970
27 years$7,009$5,215$3,820$2,762$1,975$841
28 years$6,686$4,914$3,551$2,531$1,782$730
29 years$6,386$4,636$3,305$2,321$1,610$633
30 years$6,107$4,378$3,078$2,130$1,454$550
31 years$5,846$4,139$2,870$1,956$1,315$478
32 years$5,601$3,916$2,678$1,798$1,189$415
33 years$5,373$3,708$2,500$1,653$1,076$361
34 years$5,158$3,515$2,336$1,521$975$313
35 years$4,955$3,334$2,184$1,400$883$272
36 years$4,765$3,164$2,043$1,290$800$237
37 years$4,585$3,005$1,912$1,188$725$206
38 years$4,415$2,856$1,791$1,095$657$179
39 years$4,254$2,716$1,678$1,010$596$156
40 years$4,101$2,584$1,573$931$541$136
41 years$3,957$2,460$1,475$859$490$118
42 years$3,819$2,342$1,383$793$445$103
43 years$3,689$2,232$1,298$732$404$89
44 years$3,564$2,127$1,218$676$367$78
45 years$3,446$2,029$1,144$624$333$68
46 years$3,333$1,935$1,074$577$302$59
47 years$3,225$1,847$1,009$533$274$51
48 years$3,122$1,763$949$492$249$44
49 years$3,023$1,684$892$455$226$39
50 years$2,929$1,608$838$421$206$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $3,000,000, adding $6,018 every year, while hoping to spend $44,154 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: 56/23/21 Blend
73$3,000,000$3,000,000$3,000,000$3,000,000
74$3,312,208$3,153,208$3,106,708$3,478,600
75$3,603,073$3,260,735$3,163,803$3,700,445
76$3,922,127$3,372,052$3,221,331$3,936,795
77$4,272,198$3,487,297$3,279,260$4,193,323
78$4,656,402$3,606,614$3,337,554$4,471,982
79$5,078,171$3,730,153$3,396,178$4,774,916
80$5,541,284$3,858,071$3,455,090$5,104,487
81$6,049,907$3,990,528$3,514,248$5,463,297
82$6,608,628$4,127,694$3,573,604$5,854,205
83$7,222,498$4,269,742$3,633,111$6,280,362
84$7,897,088$4,416,853$3,692,714$6,745,237
85$8,638,528$4,569,217$3,752,358$7,252,649
86$9,453,578$4,727,029$3,811,982$7,806,800
87$10,349,682$4,890,492$3,871,522$8,412,321
88$11,335,041$5,059,817$3,930,910$9,074,310
89$12,418,692$5,235,225$3,990,072$9,798,381
90$13,610,590$5,416,943$4,048,931$10,590,715
91$14,921,706$5,605,209$4,107,406$11,458,123
92$16,364,125$5,800,269$4,165,409$12,408,103
93$17,951,164$6,002,380$4,222,848$13,448,915
94$19,697,494$6,211,808$4,279,625$14,589,657
95$21,619,282$6,428,831$4,335,637$15,840,349
96$23,734,341$6,653,736$4,390,773$17,212,031
97$26,062,298$6,886,823$4,444,918$18,716,862
98$28,624,779$7,128,403$4,497,948$20,368,237
99$31,445,612$7,378,801$4,549,736$22,180,910
100$34,551,055$7,638,353$4,600,142$24,171,138