Can I retire at age 74 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$183,326$181,693$180,099$178,544$177,026$173,879
2 years$90,755$89,065$87,427$85,839$84,298$81,138
3 years$59,902$58,205$56,571$54,998$53,482$50,408
4 years$44,479$42,787$41,169$39,623$38,144$35,179
5 years$35,228$33,545$31,949$30,434$28,996$26,149
6 years$29,062$27,392$25,820$24,338$22,944$20,217
7 years$24,659$23,004$21,456$20,010$18,660$16,055
8 years$21,359$19,719$18,197$16,786$15,480$12,996
9 years$18,794$17,169$15,673$14,298$13,036$10,673
10 years$16,742$15,133$13,664$12,325$11,108$8,861
11 years$15,065$13,472$12,029$10,726$9,553$7,422
12 years$13,669$12,092$10,676$9,408$8,278$6,260
13 years$12,488$10,928$9,538$8,306$7,219$5,309
14 years$11,477$9,933$8,570$7,373$6,328$4,524
15 years$10,601$9,074$7,738$6,576$5,572$3,870
16 years$9,835$8,325$7,015$5,888$4,924$3,321
17 years$9,161$7,667$6,384$5,290$4,366$2,858
18 years$8,562$7,085$5,827$4,768$3,882$2,465
19 years$8,026$6,566$5,335$4,308$3,460$2,130
20 years$7,545$6,102$4,896$3,902$3,091$1,844
21 years$7,110$5,683$4,503$3,541$2,766$1,598
22 years$6,715$5,305$4,150$3,220$2,479$1,387
23 years$6,356$4,962$3,832$2,932$2,226$1,205
24 years$6,026$4,649$3,544$2,674$2,000$1,048
25 years$5,724$4,363$3,283$2,442$1,800$912
26 years$5,445$4,100$3,044$2,233$1,621$794
27 years$5,187$3,859$2,827$2,044$1,462$692
28 years$4,948$3,636$2,628$1,873$1,319$604
29 years$4,726$3,430$2,446$1,717$1,191$526
30 years$4,519$3,240$2,278$1,576$1,076$459
31 years$4,326$3,062$2,124$1,448$973$401
32 years$4,145$2,898$1,982$1,330$880$350
33 years$3,976$2,744$1,850$1,223$797$306
34 years$3,817$2,601$1,729$1,126$721$267
35 years$3,667$2,467$1,616$1,036$653$233
36 years$3,526$2,341$1,512$954$592$204
37 years$3,393$2,224$1,415$879$536$178
38 years$3,267$2,113$1,325$810$486$156
39 years$3,148$2,010$1,242$747$441$136
40 years$3,035$1,912$1,164$689$400$119
41 years$2,928$1,820$1,091$636$363$104
42 years$2,826$1,733$1,024$587$329$91
43 years$2,730$1,652$960$542$299$80
44 years$2,638$1,574$902$500$271$70
45 years$2,550$1,501$847$462$246$61
46 years$2,466$1,432$795$427$224$53
47 years$2,387$1,367$747$394$203$47
48 years$2,310$1,305$702$364$184$41
49 years$2,237$1,246$660$337$167$36
50 years$2,167$1,190$620$311$152$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,220,000, adding $2,331 every year, while hoping to spend $35,248 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: 50/24/26 Blend
73$2,220,000$2,220,000$2,220,000$2,220,000
74$2,448,844$2,331,184$2,296,774$2,553,207
75$2,661,123$2,407,909$2,336,213$2,702,938
76$2,893,873$2,487,211$2,375,791$2,861,868
77$3,149,144$2,569,181$2,415,476$3,033,910
78$3,429,196$2,653,911$2,455,234$3,220,323
79$3,736,517$2,741,495$2,495,028$3,422,493
80$4,073,847$2,832,034$2,534,817$3,641,943
81$4,444,206$2,925,630$2,574,559$3,880,352
82$4,850,918$3,022,389$2,614,210$4,139,567
83$5,297,647$3,122,421$2,653,721$4,421,621
84$5,788,428$3,225,841$2,693,042$4,728,752
85$6,327,707$3,332,766$2,732,118$5,063,426
86$6,920,382$3,443,320$2,770,893$5,428,357
87$7,571,848$3,557,630$2,809,305$5,826,534
88$8,288,049$3,675,827$2,847,289$6,261,248
89$9,075,535$3,798,047$2,884,778$6,736,122
90$9,941,520$3,924,433$2,921,699$7,255,151
91$10,893,955$4,055,130$2,957,976$7,822,729
92$11,941,599$4,190,291$2,993,528$8,443,701
93$13,094,100$4,330,073$3,028,269$9,123,399
94$14,362,091$4,474,640$3,062,110$9,867,699
95$15,757,289$4,624,161$3,094,954$10,683,074
96$17,292,599$4,778,813$3,126,703$11,576,653
97$18,982,246$4,938,776$3,157,249$12,556,291
98$20,841,899$5,104,240$3,186,480$13,630,639
99$22,888,826$5,275,401$3,214,281$14,809,230
100$25,142,052$5,452,462$3,240,526$16,102,564