Can I retire at age 74 with 2,380,000?

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 $2,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$196,538$194,788$193,080$191,412$189,785$185,046
2 years$97,296$95,484$93,728$92,025$90,374$85,630
3 years$64,220$62,400$60,648$58,961$57,337$52,736
4 years$47,685$45,871$44,136$42,478$40,893$36,471
5 years$37,766$35,963$34,252$32,627$31,086$26,854
6 years$31,156$29,367$27,680$26,092$24,597$20,560
7 years$26,437$24,662$23,003$21,452$20,004$16,162
8 years$22,899$21,140$19,508$17,996$16,596$12,947
9 years$20,148$18,406$16,802$15,328$13,976$10,518
10 years$17,949$16,224$14,649$13,213$11,908$8,636
11 years$16,151$14,443$12,896$11,499$10,241$7,151
12 years$14,654$12,964$11,445$10,086$8,875$5,961
13 years$13,388$11,715$10,226$8,905$7,739$4,996
14 years$12,304$10,649$9,188$7,905$6,784$4,205
15 years$11,365$9,728$8,295$7,050$5,973$3,553
16 years$10,544$8,925$7,521$6,312$5,279$3,010
17 years$9,821$8,220$6,844$5,671$4,681$2,557
18 years$9,179$7,595$6,247$5,111$4,162$2,176
19 years$8,605$7,039$5,719$4,618$3,710$1,856
20 years$8,089$6,541$5,249$4,183$3,314$1,585
21 years$7,623$6,093$4,828$3,796$2,965$1,355
22 years$7,199$5,688$4,450$3,452$2,658$1,160
23 years$6,814$5,319$4,108$3,143$2,386$994
24 years$6,460$4,984$3,800$2,867$2,145$852
25 years$6,136$4,677$3,519$2,618$1,930$731
26 years$5,837$4,396$3,264$2,394$1,738$627
27 years$5,561$4,137$3,031$2,191$1,567$539
28 years$5,305$3,898$2,818$2,008$1,414$463
29 years$5,066$3,678$2,622$1,841$1,277$398
30 years$4,845$3,473$2,442$1,690$1,154$342
31 years$4,638$3,283$2,277$1,552$1,043$294
32 years$4,444$3,107$2,124$1,426$944$253
33 years$4,262$2,942$1,983$1,311$854$218
34 years$4,092$2,788$1,853$1,207$773$187
35 years$3,931$2,645$1,733$1,111$700$161
36 years$3,780$2,510$1,621$1,023$634$139
37 years$3,637$2,384$1,517$943$575$119
38 years$3,502$2,266$1,421$869$521$103
39 years$3,375$2,155$1,331$801$473$88
40 years$3,254$2,050$1,248$739$429$76
41 years$3,139$1,951$1,170$682$389$66
42 years$3,030$1,858$1,097$629$353$56
43 years$2,926$1,771$1,030$581$320$49
44 years$2,828$1,688$967$536$291$42
45 years$2,734$1,609$908$495$264$36
46 years$2,644$1,535$852$457$240$31
47 years$2,559$1,465$801$423$218$27
48 years$2,477$1,399$753$391$198$23
49 years$2,399$1,336$707$361$180$20
50 years$2,324$1,276$665$334$163$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,380,000, adding $3,459 every year, while hoping to spend $55,859 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: 54/17/29 Blend
73$2,380,000$2,380,000$2,380,000$2,380,000
74$2,626,328$2,500,188$2,463,298$2,746,760
75$2,834,780$2,563,264$2,486,385$2,893,581
76$3,062,622$2,627,558$2,508,373$3,047,357
77$3,311,772$2,693,071$2,529,167$3,213,678
78$3,584,344$2,759,803$2,548,665$3,393,770
79$3,882,664$2,827,750$2,566,762$3,588,985
80$4,209,293$2,896,907$2,583,345$3,800,814
81$4,567,051$2,967,266$2,598,298$4,030,897
82$4,959,047$3,038,818$2,611,497$4,281,047
83$5,388,699$3,111,550$2,622,812$4,553,256
84$5,859,777$3,185,446$2,632,107$4,849,724
85$6,376,429$3,260,488$2,639,238$5,172,874
86$6,943,228$3,336,655$2,644,055$5,525,377
87$7,565,206$3,413,920$2,646,400$5,910,178
88$8,247,910$3,492,255$2,646,107$6,330,522
89$8,997,448$3,571,627$2,643,003$6,789,986
90$9,820,549$3,651,997$2,636,904$7,292,513
91$10,724,624$3,733,325$2,627,620$7,842,449
92$11,717,841$3,815,563$2,614,951$8,444,585
93$12,809,194$3,898,658$2,598,684$9,104,203
94$14,008,593$3,982,554$2,578,601$9,827,122
95$15,326,955$4,067,185$2,554,471$10,619,760
96$16,776,310$4,152,482$2,526,051$11,489,190
97$18,369,908$4,238,368$2,493,088$12,443,207
98$20,122,348$4,324,759$2,455,316$13,490,406
99$22,049,718$4,411,561$2,412,459$14,640,259
100$24,169,738$4,498,677$2,364,225$15,903,207