Can I retire at age 74 with 2,740,000?

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$226,267$224,251$222,285$220,366$218,491$216,030
2 years$112,013$109,927$107,905$105,945$104,044$101,566
3 years$73,934$71,839$69,822$67,880$66,010$63,592
4 years$54,898$52,809$50,812$48,904$47,079$44,740
5 years$43,479$41,403$39,433$37,563$35,788$33,536
6 years$35,869$33,809$31,867$30,039$28,318$26,154
7 years$30,436$28,392$26,482$24,697$23,030$20,956
8 years$26,362$24,337$22,459$20,718$19,106$17,121
9 years$23,196$21,190$19,344$17,647$16,090$14,193
10 years$20,664$18,678$16,864$15,212$13,709$11,900
11 years$18,594$16,628$14,847$13,239$11,790$10,067
12 years$16,870$14,924$13,176$11,612$10,217$8,578
13 years$15,413$13,487$11,772$10,252$8,910$7,352
14 years$14,165$12,260$10,577$9,100$7,810$6,332
15 years$13,084$11,199$9,550$8,116$6,877$5,476
16 years$12,139$10,275$8,658$7,267$6,078$4,752
17 years$11,307$9,463$7,879$6,529$5,389$4,136
18 years$10,567$8,744$7,192$5,884$4,792$3,609
19 years$9,906$8,104$6,584$5,317$4,271$3,155
20 years$9,312$7,531$6,043$4,815$3,815$2,764
21 years$8,776$7,015$5,558$4,370$3,414$2,425
22 years$8,288$6,548$5,123$3,974$3,060$2,130
23 years$7,844$6,124$4,730$3,619$2,747$1,874
24 years$7,438$5,738$4,374$3,301$2,469$1,650
25 years$7,064$5,385$4,052$3,014$2,222$1,454
26 years$6,720$5,061$3,758$2,756$2,001$1,283
27 years$6,402$4,763$3,489$2,523$1,804$1,132
28 years$6,107$4,488$3,244$2,311$1,628$1,000
29 years$5,833$4,234$3,019$2,120$1,470$884
30 years$5,577$3,998$2,812$1,945$1,328$781
31 years$5,339$3,780$2,621$1,787$1,201$691
32 years$5,116$3,576$2,446$1,642$1,086$611
33 years$4,907$3,387$2,284$1,510$983$541
34 years$4,711$3,210$2,134$1,389$890$479
35 years$4,526$3,045$1,995$1,279$806$424
36 years$4,352$2,890$1,866$1,178$730$376
37 years$4,187$2,745$1,747$1,085$662$333
38 years$4,032$2,608$1,636$1,000$600$295
39 years$3,885$2,480$1,532$922$544$261
40 years$3,746$2,360$1,436$851$494$232
41 years$3,614$2,246$1,347$785$448$205
42 years$3,488$2,139$1,263$724$406$182
43 years$3,369$2,038$1,185$669$369$161
44 years$3,256$1,943$1,113$617$335$143
45 years$3,147$1,853$1,045$570$304$127
46 years$3,044$1,768$981$527$276$113
47 years$2,946$1,687$922$487$251$100
48 years$2,851$1,610$866$450$228$89
49 years$2,761$1,538$814$416$207$79
50 years$2,675$1,469$766$384$188$70

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,740,000, adding $2,159 every year, while hoping to spend $48,016 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: 51/31/18 Blend
73$2,740,000$2,740,000$2,740,000$2,740,000
74$3,021,707$2,876,487$2,834,017$3,160,714
75$3,278,832$2,966,346$2,877,868$3,346,507
76$3,560,575$3,058,999$2,921,579$3,543,231
77$3,869,396$3,154,532$2,965,094$3,756,078
78$4,208,004$3,253,034$3,008,354$3,986,587
79$4,579,384$3,354,596$3,051,297$4,236,456
80$4,986,823$3,459,313$3,093,858$4,507,548
81$5,433,942$3,567,282$3,135,964$4,801,919
82$5,924,728$3,678,603$3,177,543$5,121,828
83$6,463,575$3,793,379$3,218,515$5,469,763
84$7,055,322$3,911,717$3,258,798$5,848,464
85$7,705,299$4,033,726$3,298,302$6,260,945
86$8,419,380$4,159,518$3,336,936$6,710,527
87$9,204,033$4,289,212$3,374,599$7,200,865
88$10,066,386$4,422,925$3,411,190$7,735,985
89$11,014,291$4,560,781$3,446,598$8,320,319
90$12,056,398$4,702,908$3,480,709$8,958,750
91$13,202,237$4,849,437$3,513,399$9,656,653
92$14,462,308$5,000,503$3,544,541$10,419,950
93$15,848,180$5,156,244$3,573,999$11,255,163
94$17,372,598$5,316,804$3,601,633$12,169,476
95$19,049,607$5,482,331$3,627,290$13,170,802
96$20,894,677$5,652,976$3,650,816$14,267,856
97$22,924,859$5,828,896$3,672,042$15,470,240
98$25,158,934$6,010,252$3,690,796$16,788,533
99$27,617,602$6,197,211$3,706,893$18,234,385
100$30,323,665$6,389,942$3,720,143$19,820,635