Can I retire at age 74 with 2,470,000?

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$203,970$202,153$200,381$198,651$196,961$189,072
2 years$100,975$99,095$97,272$95,505$93,791$85,942
3 years$66,648$64,760$62,942$61,191$59,505$51,943
4 years$49,488$47,605$45,805$44,085$42,439$35,222
5 years$39,195$37,323$35,547$33,861$32,262$25,407
6 years$32,335$30,477$28,727$27,079$25,528$19,041
7 years$27,436$25,595$23,872$22,263$20,761$14,639
8 years$23,765$21,939$20,246$18,676$17,223$11,460
9 years$20,910$19,102$17,438$15,908$14,504$9,090
10 years$18,628$16,838$15,202$13,713$12,358$7,284
11 years$16,762$14,989$13,384$11,934$10,629$5,881
12 years$15,208$13,454$11,878$10,468$9,211$4,777
13 years$13,894$12,158$10,612$9,242$8,032$3,899
14 years$12,769$11,052$9,535$8,204$7,041$3,194
15 years$11,795$10,096$8,609$7,316$6,199$2,625
16 years$10,943$9,263$7,805$6,551$5,479$2,162
17 years$10,192$8,531$7,102$5,886$4,858$1,785
18 years$9,526$7,883$6,484$5,304$4,319$1,476
19 years$8,930$7,306$5,935$4,793$3,850$1,222
20 years$8,395$6,789$5,447$4,341$3,439$1,013
21 years$7,911$6,323$5,010$3,940$3,077$840
22 years$7,472$5,903$4,618$3,582$2,758$698
23 years$7,071$5,521$4,264$3,262$2,476$580
24 years$6,705$5,172$3,943$2,975$2,226$482
25 years$6,368$4,854$3,652$2,717$2,003$401
26 years$6,058$4,562$3,387$2,485$1,804$333
27 years$5,771$4,293$3,145$2,274$1,626$277
28 years$5,505$4,046$2,924$2,084$1,468$231
29 years$5,258$3,817$2,721$1,911$1,325$192
30 years$5,028$3,604$2,535$1,754$1,197$160
31 years$4,813$3,407$2,363$1,611$1,083$133
32 years$4,612$3,224$2,205$1,480$979$111
33 years$4,423$3,053$2,058$1,361$886$92
34 years$4,246$2,894$1,923$1,252$802$77
35 years$4,080$2,745$1,798$1,153$727$64
36 years$3,923$2,605$1,682$1,062$658$53
37 years$3,775$2,474$1,574$978$597$45
38 years$3,635$2,351$1,474$902$541$37
39 years$3,502$2,236$1,381$831$491$31
40 years$3,377$2,127$1,295$767$445$26
41 years$3,258$2,025$1,214$707$404$21
42 years$3,145$1,929$1,139$653$366$18
43 years$3,037$1,838$1,069$603$332$15
44 years$2,935$1,752$1,003$557$302$12
45 years$2,837$1,670$942$514$274$10
46 years$2,744$1,593$885$475$249$9
47 years$2,655$1,521$831$439$226$7
48 years$2,570$1,452$781$405$205$6
49 years$2,489$1,386$734$375$186$5
50 years$2,412$1,324$690$346$169$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,470,000, adding $2,992 every year, while hoping to spend $45,896 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: 67/5/28 Blend
73$2,470,000$2,470,000$2,470,000$2,470,000
74$2,725,026$2,594,116$2,555,831$2,887,416
75$2,954,146$2,672,395$2,592,619$3,075,498
76$3,205,098$2,752,971$2,629,100$3,275,692
77$3,480,060$2,835,909$2,665,217$3,493,637
78$3,781,431$2,921,274$2,700,907$3,731,088
79$4,111,854$3,009,133$2,736,105$3,989,982
80$4,474,239$3,099,557$2,770,740$4,272,450
81$4,871,791$3,192,614$2,804,739$4,580,842
82$5,308,040$3,288,379$2,838,025$4,917,746
83$5,786,876$3,386,925$2,870,514$5,286,013
84$6,312,581$3,488,328$2,902,120$5,688,785
85$6,889,875$3,592,667$2,932,752$6,129,524
86$7,523,955$3,700,021$2,962,312$6,612,044
87$8,220,548$3,810,471$2,990,699$7,140,547
88$8,985,962$3,924,102$3,017,805$7,719,665
89$9,827,145$4,040,998$3,043,517$8,354,501
90$10,751,755$4,161,248$3,067,715$9,050,677
91$11,768,225$4,284,940$3,090,275$9,814,390
92$12,885,849$4,412,167$3,111,064$10,652,468
93$14,114,864$4,543,022$3,129,943$11,572,435
94$15,466,551$4,677,600$3,146,767$12,582,582
95$16,953,336$4,816,000$3,161,381$13,692,046
96$18,588,914$4,958,322$3,173,624$14,910,895
97$20,388,370$5,104,666$3,183,328$16,250,225
98$22,368,327$5,255,138$3,190,313$17,722,265
99$24,547,101$5,409,844$3,194,392$19,340,487
100$26,944,871$5,568,893$3,195,371$21,119,742