Can I retire at age 74 with 1,940,000?

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 $1,940,000?

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$160,203$158,776$157,384$156,025$154,698$152,702
2 years$79,309$77,832$76,400$75,012$73,666$71,657
3 years$52,347$50,864$49,436$48,061$46,737$44,779
4 years$38,869$37,390$35,977$34,625$33,333$31,440
5 years$30,784$29,314$27,919$26,596$25,339$23,517
6 years$25,396$23,937$22,563$21,269$20,050$18,301
7 years$21,549$20,103$18,750$17,486$16,306$14,631
8 years$18,665$17,232$15,901$14,669$13,527$11,926
9 years$16,423$15,003$13,696$12,494$11,392$9,864
10 years$14,631$13,225$11,940$10,770$9,707$8,250
11 years$13,165$11,773$10,512$9,373$8,348$6,962
12 years$11,945$10,567$9,329$8,222$7,234$5,917
13 years$10,913$9,549$8,335$7,259$6,308$5,058
14 years$10,029$8,680$7,489$6,443$5,530$4,345
15 years$9,264$7,929$6,762$5,746$4,869$3,748
16 years$8,595$7,275$6,130$5,145$4,303$3,243
17 years$8,005$6,700$5,578$4,623$3,816$2,815
18 years$7,482$6,191$5,092$4,166$3,393$2,449
19 years$7,014$5,738$4,662$3,765$3,024$2,135
20 years$6,593$5,332$4,278$3,409$2,701$1,865
21 years$6,213$4,967$3,935$3,094$2,417$1,631
22 years$5,868$4,636$3,627$2,813$2,167$1,429
23 years$5,554$4,336$3,349$2,562$1,945$1,253
24 years$5,266$4,063$3,097$2,337$1,748$1,100
25 years$5,002$3,813$2,869$2,134$1,573$966
26 years$4,758$3,583$2,660$1,951$1,417$849
27 years$4,533$3,372$2,470$1,786$1,277$747
28 years$4,324$3,178$2,297$1,637$1,153$658
29 years$4,130$2,998$2,137$1,501$1,041$580
30 years$3,949$2,831$1,991$1,377$940$511
31 years$3,780$2,676$1,856$1,265$850$450
32 years$3,622$2,532$1,732$1,163$769$397
33 years$3,474$2,398$1,617$1,069$696$350
34 years$3,335$2,273$1,511$984$630$309
35 years$3,204$2,156$1,412$905$571$273
36 years$3,081$2,046$1,321$834$517$241
37 years$2,965$1,943$1,237$768$469$213
38 years$2,855$1,847$1,158$708$425$188
39 years$2,751$1,756$1,085$653$385$166
40 years$2,652$1,671$1,017$602$350$146
41 years$2,559$1,591$954$556$317$129
42 years$2,470$1,515$894$513$288$114
43 years$2,385$1,443$839$473$261$101
44 years$2,305$1,376$788$437$237$89
45 years$2,228$1,312$740$404$215$79
46 years$2,155$1,251$695$373$195$70
47 years$2,086$1,194$653$345$177$62
48 years$2,019$1,140$613$318$161$54
49 years$1,955$1,089$577$294$146$48
50 years$1,894$1,040$542$272$133$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,940,000, adding $2,988 every year, while hoping to spend $48,463 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: 61/21/18 Blend
73$1,940,000$1,940,000$1,940,000$1,940,000
74$2,140,962$2,038,142$2,008,072$2,261,499
75$2,307,776$2,086,447$2,023,778$2,391,490
76$2,489,981$2,135,494$2,038,386$2,527,621
77$2,689,095$2,185,269$2,051,808$2,675,063
78$2,906,790$2,235,755$2,063,952$2,834,919
79$3,144,908$2,286,933$2,074,719$3,008,403
80$3,405,475$2,338,779$2,084,009$3,196,855
81$3,690,723$2,391,268$2,091,713$3,401,750
82$4,003,110$2,444,374$2,097,718$3,624,712
83$4,345,342$2,498,063$2,101,907$3,867,532
84$4,720,400$2,552,302$2,104,154$4,132,184
85$5,131,567$2,607,050$2,104,329$4,420,840
86$5,582,458$2,662,267$2,102,295$4,735,897
87$6,077,056$2,717,905$2,097,909$5,079,995
88$6,619,745$2,773,912$2,091,019$5,456,043
89$7,215,358$2,830,233$2,081,467$5,867,247
90$7,869,217$2,886,806$2,069,088$6,317,141
91$8,587,182$2,943,565$2,053,708$6,809,617
92$9,375,712$3,000,437$2,035,144$7,348,967
93$10,241,920$3,057,344$2,013,207$7,939,920
94$11,193,643$3,114,200$1,987,696$8,587,689
95$12,239,513$3,170,915$1,958,403$9,298,019
96$13,389,042$3,227,388$1,925,108$10,077,239
97$14,652,707$3,283,514$1,887,582$10,932,327
98$16,042,053$3,339,175$1,845,586$11,870,975
99$17,569,797$3,394,250$1,798,868$12,901,657
100$19,249,952$3,448,604$1,747,166$14,033,715