Can I retire at age 74 with 3,400,000?

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 $3,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$280,769$278,268$275,828$273,446$271,121$267,069
2 years$138,994$136,406$133,897$131,465$129,105$125,032
3 years$91,743$89,143$86,640$84,231$81,910$77,942
4 years$68,121$65,529$63,052$60,683$58,419$54,587
5 years$53,952$51,376$48,931$46,611$44,409$40,725
6 years$44,509$41,952$39,543$37,275$35,139$31,607
7 years$37,767$35,231$32,861$30,646$28,578$25,198
8 years$32,712$30,200$27,869$25,708$23,708$20,480
9 years$28,783$26,294$24,003$21,897$19,965$16,888
10 years$25,642$23,177$20,926$18,876$17,012$14,083
11 years$23,073$20,633$18,423$16,428$14,631$11,847
12 years$20,934$18,519$16,350$14,409$12,679$10,037
13 years$19,126$16,736$14,608$12,721$11,056$8,552
14 years$17,577$15,213$13,125$11,292$9,692$7,322
15 years$16,236$13,897$11,850$10,071$8,533$6,293
16 years$15,063$12,750$10,744$9,017$7,542$5,427
17 years$14,030$11,742$9,777$8,102$6,687$4,694
18 years$13,112$10,851$8,925$7,302$5,946$4,069
19 years$12,293$10,056$8,170$6,598$5,300$3,534
20 years$11,556$9,345$7,498$5,975$4,734$3,075
21 years$10,890$8,704$6,897$5,423$4,236$2,680
22 years$10,285$8,125$6,357$4,931$3,797$2,339
23 years$9,734$7,599$5,869$4,491$3,408$2,043
24 years$9,229$7,120$5,428$4,096$3,064$1,786
25 years$8,766$6,682$5,027$3,740$2,757$1,563
26 years$8,339$6,280$4,663$3,420$2,483$1,369
27 years$7,944$5,910$4,330$3,130$2,239$1,200
28 years$7,578$5,569$4,025$2,868$2,020$1,052
29 years$7,238$5,254$3,746$2,630$1,824$923
30 years$6,921$4,962$3,489$2,414$1,648$810
31 years$6,625$4,690$3,253$2,217$1,490$711
32 years$6,348$4,438$3,035$2,037$1,348$624
33 years$6,089$4,203$2,834$1,874$1,220$549
34 years$5,845$3,983$2,648$1,724$1,104$482
35 years$5,616$3,778$2,475$1,587$1,000$424
36 years$5,400$3,586$2,316$1,461$906$372
37 years$5,196$3,406$2,167$1,347$821$327
38 years$5,003$3,237$2,030$1,241$745$288
39 years$4,821$3,078$1,901$1,144$675$253
40 years$4,648$2,928$1,782$1,056$613$223
41 years$4,484$2,788$1,671$974$556$196
42 years$4,329$2,655$1,568$899$504$172
43 years$4,181$2,529$1,471$830$458$152
44 years$4,040$2,411$1,381$766$415$133
45 years$3,905$2,299$1,297$707$377$117
46 years$3,777$2,193$1,218$654$342$103
47 years$3,655$2,093$1,144$604$311$91
48 years$3,538$1,998$1,075$558$282$80
49 years$3,426$1,908$1,011$516$256$70
50 years$3,320$1,823$950$477$233$62

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $3,400,000, adding $5,003 every year, while hoping to spend $55,769 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: 49/40/11 Blend
73$3,400,000$3,400,000$3,400,000$3,400,000
74$3,751,961$3,571,761$3,519,061$3,924,381
75$4,075,323$3,687,439$3,577,611$4,158,910
76$4,429,799$3,806,917$3,636,254$4,407,257
77$4,818,503$3,930,321$3,694,934$4,675,742
78$5,244,867$4,057,783$3,753,591$4,966,267
79$5,712,668$4,189,439$3,812,161$5,280,922
80$6,226,069$4,325,430$3,870,577$5,622,007
81$6,789,655$4,465,903$3,928,768$5,992,049
82$7,408,474$4,611,007$3,986,656$6,393,831
83$8,088,091$4,760,898$4,044,162$6,830,413
84$8,834,633$4,915,739$4,101,198$7,305,161
85$9,654,852$5,075,697$4,157,674$7,821,783
86$10,556,184$5,240,943$4,213,493$8,384,354
87$11,546,823$5,411,657$4,268,554$8,997,363
88$12,635,795$5,588,025$4,322,746$9,665,750
89$13,833,045$5,770,237$4,375,957$10,394,951
90$15,149,529$5,958,492$4,428,065$11,190,953
91$16,597,318$6,152,995$4,478,943$12,060,346
92$18,189,712$6,353,959$4,528,454$13,010,385
93$19,941,363$6,561,604$4,576,458$14,049,058
94$21,868,416$6,776,156$4,622,803$15,185,162
95$23,988,658$6,997,852$4,667,331$16,428,384
96$26,321,690$7,226,935$4,709,875$17,789,389
97$28,889,106$7,463,659$4,750,260$19,279,925
98$31,714,701$7,708,284$4,788,299$20,912,930
99$34,824,692$7,961,081$4,823,799$22,702,652
100$38,247,967$8,222,331$4,856,553$24,664,784