Can I retire at age 74 with 2,920,000?

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 $2,920,000?

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$241,131$238,983$236,887$234,842$232,845$228,799
2 years$119,372$117,149$114,994$112,905$110,879$106,816
3 years$78,791$76,558$74,409$72,339$70,346$66,392
4 years$58,504$56,278$54,150$52,116$50,171$46,358
5 years$46,335$44,123$42,023$40,030$38,139$34,477
6 years$38,225$36,030$33,961$32,013$30,178$26,671
7 years$32,435$30,258$28,222$26,319$24,543$21,191
8 years$28,094$25,936$23,934$22,079$20,361$17,164
9 years$24,720$22,582$20,614$18,806$17,147$14,103
10 years$22,022$19,905$17,972$16,211$14,610$11,717
11 years$19,816$17,720$15,822$14,108$12,565$9,820
12 years$17,979$15,905$14,042$12,375$10,889$8,287
13 years$16,425$14,373$12,546$10,925$9,495$7,034
14 years$15,095$13,065$11,272$9,698$8,323$5,998
15 years$13,944$11,935$10,177$8,649$7,329$5,134
16 years$12,937$10,950$9,227$7,744$6,477$4,409
17 years$12,049$10,085$8,396$6,958$5,743$3,797
18 years$11,261$9,319$7,665$6,271$5,106$3,277
19 years$10,557$8,637$7,017$5,666$4,551$2,834
20 years$9,924$8,025$6,440$5,132$4,065$2,455
21 years$9,352$7,475$5,923$4,657$3,638$2,130
22 years$8,833$6,978$5,459$4,235$3,261$1,850
23 years$8,360$6,526$5,041$3,857$2,927$1,608
24 years$7,926$6,115$4,662$3,517$2,631$1,400
25 years$7,528$5,738$4,318$3,212$2,368$1,219
26 years$7,161$5,393$4,004$2,937$2,133$1,063
27 years$6,822$5,076$3,718$2,688$1,923$927
28 years$6,508$4,783$3,457$2,463$1,735$809
29 years$6,216$4,512$3,217$2,259$1,567$706
30 years$5,944$4,261$2,996$2,073$1,416$616
31 years$5,690$4,028$2,793$1,904$1,280$539
32 years$5,452$3,811$2,606$1,750$1,158$471
33 years$5,229$3,609$2,434$1,609$1,048$411
34 years$5,020$3,421$2,274$1,480$949$360
35 years$4,823$3,245$2,126$1,363$859$314
36 years$4,638$3,080$1,989$1,255$778$275
37 years$4,463$2,925$1,861$1,156$706$241
38 years$4,297$2,780$1,743$1,066$640$210
39 years$4,140$2,643$1,633$983$580$184
40 years$3,992$2,515$1,531$907$526$161
41 years$3,851$2,394$1,435$836$477$141
42 years$3,718$2,280$1,346$772$433$123
43 years$3,590$2,172$1,263$713$393$108
44 years$3,469$2,071$1,186$658$357$95
45 years$3,354$1,975$1,113$608$324$83
46 years$3,244$1,884$1,046$561$294$72
47 years$3,139$1,798$983$519$267$63
48 years$3,039$1,716$923$479$243$56
49 years$2,943$1,639$868$443$220$49
50 years$2,851$1,565$816$409$200$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,920,000, adding $2,410 every year, while hoping to spend $54,610 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: 33/41/26 Blend
73$2,920,000$2,920,000$2,920,000$2,920,000
74$3,220,326$3,065,566$3,020,306$3,301,004
75$3,490,695$3,157,674$3,063,382$3,454,300
76$3,786,810$3,252,465$3,106,070$3,614,340
77$4,111,242$3,350,013$3,148,300$3,785,743
78$4,466,819$3,450,393$3,189,998$3,969,551
79$4,856,655$3,553,684$3,231,084$4,166,908
80$5,284,183$3,659,963$3,271,474$4,379,075
81$5,753,181$3,769,313$3,311,080$4,607,438
82$6,267,813$3,881,816$3,349,808$4,853,519
83$6,832,662$3,997,558$3,387,560$5,118,998
84$7,452,781$4,116,626$3,424,230$5,405,721
85$8,133,732$4,239,108$3,459,710$5,715,718
86$8,881,645$4,365,096$3,493,882$6,051,229
87$9,703,270$4,494,683$3,526,624$6,414,714
88$10,606,045$4,627,964$3,557,808$6,808,885
89$11,598,164$4,765,037$3,587,297$7,236,728
90$12,688,654$4,906,001$3,614,948$7,701,530
91$13,887,460$5,050,958$3,640,612$8,206,910
92$15,205,537$5,200,011$3,664,129$8,756,855
93$16,654,957$5,353,267$3,685,332$9,355,756
94$18,249,020$5,510,834$3,704,048$10,008,450
95$20,002,377$5,672,822$3,720,091$10,720,262
96$21,931,173$5,839,344$3,733,268$11,497,061
97$24,053,196$6,010,515$3,743,376$12,345,311
98$26,388,045$6,186,453$3,750,201$13,272,131
99$28,957,312$6,367,276$3,753,520$14,285,366
100$31,784,793$6,553,107$3,753,097$15,393,659