Can I retire at age 74 with 2,080,000?

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 $2,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$171,764$170,234$168,742$167,285$165,862$162,980
2 years$85,032$83,448$81,913$80,425$78,982$76,088
3 years$56,125$54,534$53,003$51,529$50,109$47,293
4 years$41,674$40,089$38,573$37,124$35,738$33,022
5 years$33,006$31,430$29,934$28,515$27,168$24,559
6 years$27,229$25,665$24,191$22,803$21,497$18,998
7 years$23,104$21,553$20,103$18,748$17,483$15,095
8 years$20,012$18,475$17,049$15,727$14,504$12,227
9 years$17,609$16,086$14,684$13,396$12,214$10,046
10 years$15,687$14,179$12,802$11,548$10,407$8,347
11 years$14,115$12,623$11,271$10,050$8,950$6,995
12 years$12,807$11,329$10,003$8,815$7,756$5,903
13 years$11,700$10,239$8,937$7,782$6,764$5,010
14 years$10,753$9,307$8,030$6,908$5,929$4,272
15 years$9,932$8,502$7,250$6,161$5,220$3,657
16 years$9,215$7,800$6,573$5,517$4,614$3,141
17 years$8,583$7,184$5,981$4,957$4,091$2,705
18 years$8,022$6,638$5,460$4,467$3,637$2,334
19 years$7,520$6,152$4,998$4,036$3,242$2,019
20 years$7,069$5,717$4,587$3,656$2,896$1,749
21 years$6,662$5,325$4,219$3,318$2,591$1,517
22 years$6,292$4,971$3,889$3,016$2,323$1,318
23 years$5,955$4,649$3,591$2,747$2,085$1,146
24 years$5,646$4,356$3,321$2,506$1,874$997
25 years$5,363$4,088$3,076$2,288$1,686$869
26 years$5,101$3,842$2,852$2,092$1,519$757
27 years$4,860$3,616$2,649$1,915$1,370$660
28 years$4,636$3,407$2,462$1,755$1,236$576
29 years$4,428$3,214$2,291$1,609$1,116$503
30 years$4,234$3,035$2,134$1,477$1,008$439
31 years$4,053$2,869$1,990$1,356$912$384
32 years$3,884$2,715$1,857$1,246$825$335
33 years$3,725$2,571$1,733$1,146$746$293
34 years$3,576$2,437$1,620$1,055$676$256
35 years$3,436$2,311$1,514$971$612$224
36 years$3,304$2,194$1,417$894$554$196
37 years$3,179$2,084$1,326$824$503$171
38 years$3,061$1,980$1,242$759$456$150
39 years$2,949$1,883$1,163$700$413$131
40 years$2,844$1,791$1,090$646$375$115
41 years$2,743$1,705$1,022$596$340$100
42 years$2,648$1,624$959$550$309$88
43 years$2,558$1,547$900$508$280$77
44 years$2,471$1,475$845$469$254$67
45 years$2,389$1,407$793$433$231$59
46 years$2,311$1,342$745$400$209$52
47 years$2,236$1,280$700$369$190$45
48 years$2,165$1,222$658$341$173$40
49 years$2,096$1,167$618$315$157$35
50 years$2,031$1,115$581$292$143$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,080,000, adding $6,952 every year, while hoping to spend $55,963 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: 59/14/27 Blend
73$2,080,000$2,080,000$2,080,000$2,080,000
74$2,299,331$2,189,091$2,156,851$2,417,782
75$2,474,319$2,236,812$2,169,561$2,547,186
76$2,665,279$2,284,996$2,180,822$2,681,706
77$2,873,783$2,333,606$2,190,525$2,827,265
78$3,101,559$2,382,603$2,198,557$2,984,949
79$3,350,509$2,431,942$2,204,800$3,155,956
80$3,622,729$2,481,575$2,209,129$3,341,606
81$3,920,525$2,531,449$2,211,412$3,543,356
82$4,246,437$2,581,509$2,211,513$3,762,809
83$4,603,261$2,631,691$2,209,286$4,001,735
84$4,994,078$2,681,928$2,204,581$4,262,084
85$5,422,278$2,732,147$2,197,239$4,546,006
86$5,891,597$2,782,269$2,187,094$4,855,873
87$6,406,149$2,832,208$2,173,970$5,194,297
88$6,970,464$2,881,874$2,157,685$5,564,159
89$7,589,531$2,931,166$2,138,048$5,968,638
90$8,268,848$2,979,978$2,114,858$6,411,234
91$9,014,469$3,028,195$2,087,903$6,895,808
92$9,833,062$3,075,694$2,056,966$7,426,618
93$10,731,974$3,122,343$2,021,814$8,008,356
94$11,719,297$3,167,999$1,982,206$8,646,196
95$12,803,945$3,212,512$1,937,890$9,345,841
96$13,995,741$3,255,717$1,888,603$10,113,580
97$15,305,502$3,297,443$1,834,066$10,956,344
98$16,745,147$3,337,502$1,773,992$11,881,774
99$18,327,809$3,375,696$1,708,077$12,898,297
100$20,067,954$3,411,814$1,636,006$14,015,198