Can I retire at age 74 with 1,520,000?

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$125,520$124,402$123,311$122,247$121,207$119,643
2 years$62,139$60,981$59,860$58,772$57,718$56,144
3 years$41,014$39,852$38,733$37,656$36,618$35,084
4 years$30,454$29,295$28,188$27,129$26,117$24,634
5 years$24,120$22,968$21,875$20,838$19,853$18,426
6 years$19,898$18,755$17,678$16,664$15,709$14,339
7 years$16,884$15,751$14,691$13,700$12,776$11,464
8 years$14,624$13,501$12,459$11,493$10,599$9,344
9 years$12,868$11,755$10,731$9,789$8,926$7,728
10 years$11,463$10,362$9,355$8,439$7,605$6,464
11 years$10,315$9,224$8,236$7,344$6,541$5,455
12 years$9,359$8,279$7,310$6,442$5,668$4,636
13 years$8,550$7,482$6,531$5,687$4,943$3,963
14 years$7,858$6,801$5,868$5,048$4,333$3,404
15 years$7,258$6,213$5,298$4,502$3,815$2,936
16 years$6,734$5,700$4,803$4,031$3,372$2,541
17 years$6,272$5,250$4,371$3,622$2,989$2,205
18 years$5,862$4,851$3,990$3,264$2,658$1,919
19 years$5,495$4,496$3,653$2,950$2,369$1,673
20 years$5,166$4,178$3,352$2,671$2,116$1,461
21 years$4,868$3,891$3,083$2,424$1,894$1,278
22 years$4,598$3,632$2,842$2,204$1,698$1,119
23 years$4,352$3,397$2,624$2,008$1,524$982
24 years$4,126$3,183$2,427$1,831$1,370$862
25 years$3,919$2,987$2,248$1,672$1,232$757
26 years$3,728$2,807$2,084$1,529$1,110$666
27 years$3,551$2,642$1,936$1,399$1,001$586
28 years$3,388$2,490$1,799$1,282$903$516
29 years$3,236$2,349$1,675$1,176$815$454
30 years$3,094$2,218$1,560$1,079$737$400
31 years$2,962$2,097$1,454$991$666$353
32 years$2,838$1,984$1,357$911$603$311
33 years$2,722$1,879$1,267$838$545$274
34 years$2,613$1,781$1,184$771$494$242
35 years$2,511$1,689$1,107$709$447$214
36 years$2,414$1,603$1,035$653$405$189
37 years$2,323$1,523$969$602$367$167
38 years$2,237$1,447$907$555$333$147
39 years$2,155$1,376$850$512$302$130
40 years$2,078$1,309$797$472$274$115
41 years$2,005$1,246$747$435$248$101
42 years$1,935$1,187$701$402$225$90
43 years$1,869$1,131$658$371$205$79
44 years$1,806$1,078$617$342$186$70
45 years$1,746$1,028$580$316$169$62
46 years$1,689$981$544$292$153$55
47 years$1,634$936$511$270$139$48
48 years$1,582$893$481$249$126$43
49 years$1,532$853$452$231$115$38
50 years$1,484$815$425$213$104$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,520,000, adding $5,962 every year, while hoping to spend $21,573 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: 66/10/24 Blend
73$1,520,000$1,520,000$1,520,000$1,520,000
74$1,681,190$1,600,630$1,577,070$1,781,352
75$1,829,718$1,656,107$1,606,948$1,904,946
76$1,992,672$1,713,580$1,637,104$2,037,033
77$2,171,503$1,773,123$1,667,525$2,180,951
78$2,367,804$1,834,814$1,698,195$2,337,866
79$2,583,335$1,898,735$1,729,100$2,509,060
80$2,820,031$1,964,969$1,760,221$2,695,947
81$3,080,027$2,033,605$1,791,540$2,900,083
82$3,365,670$2,104,732$1,823,038$3,123,181
83$3,679,551$2,178,447$1,854,692$3,367,129
84$4,024,522$2,254,847$1,886,481$3,634,007
85$4,403,723$2,334,035$1,918,378$3,926,103
86$4,820,617$2,416,117$1,950,358$4,245,940
87$5,279,017$2,501,204$1,982,392$4,596,297
88$5,783,125$2,589,411$2,014,451$4,980,233
89$6,337,570$2,680,858$2,046,501$5,401,122
90$6,947,453$2,775,670$2,078,509$5,862,676
91$7,618,391$2,873,977$2,110,437$6,368,987
92$8,356,578$2,975,913$2,142,248$6,924,564
93$9,168,835$3,081,618$2,173,899$7,534,373
94$10,062,679$3,191,240$2,205,347$8,203,884
95$11,046,391$3,304,930$2,236,546$8,939,127
96$12,129,098$3,422,846$2,267,445$9,746,743
97$13,320,854$3,545,154$2,297,992$10,634,049
98$14,632,738$3,672,023$2,328,132$11,609,108
99$16,076,959$3,803,634$2,357,806$12,680,804
100$17,666,969$3,940,172$2,386,952$13,858,924