Can I retire at age 74 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$244,434$242,257$240,132$238,059$236,035$232,316
2 years$121,007$118,753$116,569$114,451$112,397$108,660
3 years$79,870$77,607$75,428$73,330$71,310$67,670
4 years$59,306$57,049$54,892$52,830$50,859$47,346
5 years$46,970$44,727$42,599$40,579$38,662$35,285
6 years$38,749$36,523$34,426$32,451$30,592$27,355
7 years$32,879$30,672$28,608$26,680$24,879$21,784
8 years$28,479$26,292$24,262$22,381$20,640$17,685
9 years$25,058$22,892$20,897$19,064$17,382$14,566
10 years$22,323$20,178$18,218$16,433$14,810$12,131
11 years$20,087$17,963$16,039$14,302$12,737$10,193
12 years$18,225$16,123$14,234$12,545$11,038$8,624
13 years$16,650$14,570$12,717$11,075$9,625$7,339
14 years$15,302$13,244$11,427$9,831$8,437$6,275
15 years$14,135$12,099$10,317$8,768$7,429$5,386
16 years$13,114$11,100$9,354$7,850$6,566$4,638
17 years$12,214$10,223$8,511$7,054$5,822$4,006
18 years$11,416$9,446$7,770$6,357$5,176$3,467
19 years$10,702$8,755$7,113$5,744$4,614$3,007
20 years$10,060$8,135$6,528$5,202$4,121$2,613
21 years$9,480$7,578$6,004$4,721$3,688$2,274
22 years$8,954$7,074$5,534$4,293$3,306$1,981
23 years$8,474$6,616$5,110$3,909$2,967$1,728
24 years$8,035$6,199$4,726$3,566$2,667$1,508
25 years$7,631$5,817$4,377$3,256$2,400$1,318
26 years$7,260$5,467$4,059$2,977$2,162$1,152
27 years$6,916$5,145$3,769$2,725$1,949$1,008
28 years$6,597$4,848$3,504$2,497$1,759$883
29 years$6,301$4,574$3,261$2,290$1,588$773
30 years$6,025$4,319$3,037$2,101$1,435$677
31 years$5,768$4,083$2,832$1,930$1,297$594
32 years$5,527$3,864$2,642$1,774$1,173$520
33 years$5,301$3,659$2,467$1,631$1,062$456
34 years$5,089$3,468$2,305$1,501$962$400
35 years$4,889$3,289$2,155$1,382$871$351
36 years$4,701$3,122$2,016$1,272$789$308
37 years$4,524$2,965$1,887$1,172$715$271
38 years$4,356$2,818$1,767$1,081$648$238
39 years$4,197$2,680$1,655$996$588$209
40 years$4,047$2,549$1,552$919$533$183
41 years$3,904$2,427$1,455$848$484$161
42 years$3,769$2,311$1,365$782$439$141
43 years$3,640$2,202$1,281$722$398$124
44 years$3,517$2,099$1,202$667$362$109
45 years$3,400$2,002$1,129$616$328$96
46 years$3,288$1,909$1,060$569$298$84
47 years$3,182$1,822$996$526$271$74
48 years$3,080$1,740$936$486$246$65
49 years$2,983$1,661$880$449$223$57
50 years$2,890$1,587$827$415$203$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,960,000, adding $4,057 every year, while hoping to spend $45,717 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: 57/20/23 Blend
73$2,960,000$2,960,000$2,960,000$2,960,000
74$3,266,105$3,109,225$3,063,345$3,431,742
75$3,550,605$3,212,934$3,117,324$3,649,034
76$3,862,592$3,320,193$3,171,580$3,880,521
77$4,204,821$3,431,127$3,226,073$4,131,835
78$4,580,327$3,545,867$3,280,760$4,404,901
79$4,992,453$3,664,547$3,335,599$4,701,836
80$5,444,882$3,787,308$3,390,539$5,024,970
81$5,941,669$3,914,295$3,445,531$5,376,871
82$6,487,282$4,045,659$3,500,520$5,760,363
83$7,086,644$4,181,556$3,555,447$6,178,558
84$7,745,178$4,322,148$3,610,250$6,634,882
85$8,468,856$4,467,604$3,664,864$7,133,105
86$9,264,260$4,618,097$3,719,218$7,677,381
87$10,138,641$4,773,809$3,773,237$8,272,287
88$11,099,984$4,934,929$3,826,843$8,922,859
89$12,157,092$5,101,650$3,879,952$9,634,646
90$13,319,660$5,274,174$3,932,474$10,413,761
91$14,598,369$5,452,713$3,984,316$11,266,935
92$16,004,990$5,637,484$4,035,378$12,201,582
93$17,552,491$5,828,712$4,085,555$13,225,873
94$19,255,159$6,026,632$4,134,735$14,348,803
95$21,128,737$6,231,489$4,182,800$15,580,285
96$23,190,570$6,443,534$4,229,626$16,931,239
97$25,459,772$6,663,031$4,275,082$18,413,693
98$27,957,401$6,890,252$4,319,030$20,040,901
99$30,706,661$7,125,480$4,361,323$21,827,462
100$33,733,120$7,369,008$4,401,807$23,789,461