Can I retire at age 74 with 1,960,000?

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$161,855$160,413$159,007$157,634$156,293$154,085
2 years$80,126$78,634$77,188$75,785$74,425$72,205
3 years$52,887$51,388$49,946$48,556$47,218$45,055
4 years$39,270$37,776$36,348$34,982$33,677$31,586
5 years$31,102$29,617$28,207$26,870$25,600$23,590
6 years$25,658$24,184$22,796$21,488$20,257$18,328
7 years$21,771$20,310$18,943$17,666$16,474$14,628
8 years$18,858$17,409$16,065$14,820$13,667$11,903
9 years$16,593$15,158$13,837$12,623$11,510$9,827
10 years$14,782$13,361$12,064$10,881$9,807$8,204
11 years$13,301$11,894$10,621$9,470$8,434$6,910
12 years$12,068$10,676$9,425$8,307$7,309$5,862
13 years$11,025$9,648$8,421$7,333$6,373$5,001
14 years$10,132$8,770$7,566$6,510$5,587$4,288
15 years$9,359$8,011$6,831$5,806$4,919$3,691
16 years$8,684$7,350$6,194$5,198$4,348$3,187
17 years$8,088$6,769$5,636$4,671$3,855$2,760
18 years$7,559$6,255$5,145$4,209$3,428$2,396
19 years$7,086$5,797$4,710$3,803$3,055$2,084
20 years$6,661$5,387$4,323$3,445$2,729$1,816
21 years$6,278$5,018$3,976$3,126$2,442$1,585
22 years$5,929$4,684$3,664$2,842$2,189$1,385
23 years$5,611$4,381$3,383$2,589$1,965$1,212
24 years$5,320$4,104$3,129$2,361$1,766$1,062
25 years$5,053$3,852$2,898$2,156$1,589$930
26 years$4,807$3,620$2,688$1,972$1,431$816
27 years$4,579$3,407$2,496$1,805$1,291$716
28 years$4,368$3,210$2,320$1,653$1,165$629
29 years$4,172$3,029$2,159$1,516$1,052$553
30 years$3,990$2,860$2,011$1,392$950$486
31 years$3,819$2,704$1,875$1,278$859$427
32 years$3,660$2,558$1,749$1,174$777$376
33 years$3,510$2,423$1,633$1,080$703$331
34 years$3,370$2,296$1,526$994$637$291
35 years$3,237$2,178$1,427$915$577$256
36 years$3,113$2,067$1,335$843$522$226
37 years$2,995$1,963$1,249$776$474$199
38 years$2,884$1,866$1,170$715$429$175
39 years$2,779$1,774$1,096$660$389$154
40 years$2,680$1,688$1,027$608$353$136
41 years$2,585$1,607$963$561$320$120
42 years$2,495$1,530$904$518$291$106
43 years$2,410$1,458$848$478$264$93
44 years$2,329$1,390$796$442$239$82
45 years$2,251$1,325$747$408$217$72
46 years$2,178$1,264$702$377$197$64
47 years$2,107$1,207$660$348$179$56
48 years$2,040$1,152$620$322$163$49
49 years$1,975$1,100$583$297$148$44
50 years$1,914$1,051$548$275$134$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,960,000, adding $4,804 every year, while hoping to spend $35,428 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: 44/26/30 Blend
73$1,960,000$1,960,000$1,960,000$1,960,000
74$2,164,875$2,060,995$2,030,615$2,241,078
75$2,347,997$2,124,289$2,060,946$2,359,423
76$2,548,611$2,189,497$2,091,105$2,483,912
77$2,768,462$2,256,675$2,121,050$2,618,203
78$3,009,474$2,325,881$2,150,734$2,763,229
79$3,273,767$2,397,175$2,180,110$2,920,020
80$3,563,673$2,470,619$2,209,125$3,089,708
81$3,881,763$2,546,274$2,237,727$3,273,540
82$4,230,868$2,624,207$2,265,855$3,472,887
83$4,614,106$2,704,483$2,293,451$3,689,262
84$5,034,913$2,787,171$2,320,450$3,924,329
85$5,497,072$2,872,340$2,346,783$4,179,921
86$6,004,752$2,960,064$2,372,380$4,458,057
87$6,562,546$3,050,416$2,397,164$4,760,959
88$7,175,512$3,143,473$2,421,055$5,091,079
89$7,849,224$3,239,312$2,443,969$5,451,112
90$8,589,821$3,338,015$2,465,818$5,844,031
91$9,404,068$3,439,663$2,486,509$6,273,110
92$10,299,418$3,544,341$2,505,942$6,741,954
93$11,284,082$3,652,138$2,524,014$7,254,538
94$12,367,106$3,763,141$2,540,617$7,815,238
95$13,558,459$3,877,442$2,555,636$8,428,877
96$14,869,122$3,995,137$2,568,949$9,100,769
97$16,311,195$4,116,321$2,580,432$9,836,767
98$17,898,010$4,241,094$2,589,949$10,643,322
99$19,644,257$4,369,558$2,597,363$11,527,542
100$21,566,121$4,501,816$2,602,525$12,497,258