Can I retire at age 74 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$246,911$244,712$242,566$240,472$238,427$234,477
2 years$122,233$119,957$117,751$115,611$113,537$109,569
3 years$80,679$78,393$76,192$74,073$72,032$68,170
4 years$59,907$57,627$55,449$53,366$51,374$47,647
5 years$47,446$45,180$43,030$40,990$39,054$35,472
6 years$39,142$36,893$34,775$32,780$30,902$27,471
7 years$33,213$30,983$28,898$26,950$25,131$21,851
8 years$28,768$26,558$24,508$22,608$20,849$17,719
9 years$25,312$23,124$21,109$19,257$17,558$14,577
10 years$22,550$20,382$18,403$16,600$14,960$12,126
11 years$20,291$18,145$16,202$14,447$12,866$10,175
12 years$18,410$16,286$14,379$12,672$11,150$8,598
13 years$16,819$14,718$12,846$11,187$9,723$7,307
14 years$15,457$13,378$11,542$9,931$8,523$6,239
15 years$14,278$12,221$10,421$8,856$7,504$5,348
16 years$13,247$11,213$9,448$7,930$6,632$4,599
17 years$12,338$10,326$8,598$7,125$5,881$3,966
18 years$11,531$9,542$7,849$6,421$5,229$3,428
19 years$10,810$8,844$7,185$5,802$4,660$2,969
20 years$10,162$8,218$6,594$5,255$4,163$2,576
21 years$9,576$7,655$6,065$4,769$3,725$2,238
22 years$9,045$7,145$5,590$4,336$3,339$1,947
23 years$8,560$6,683$5,161$3,949$2,997$1,695
24 years$8,116$6,261$4,773$3,602$2,694$1,478
25 years$7,709$5,876$4,421$3,289$2,424$1,289
26 years$7,333$5,523$4,100$3,008$2,184$1,125
27 years$6,986$5,197$3,808$2,753$1,969$983
28 years$6,664$4,897$3,540$2,522$1,777$859
29 years$6,365$4,620$3,294$2,313$1,604$751
30 years$6,086$4,363$3,068$2,123$1,449$657
31 years$5,826$4,125$2,860$1,950$1,310$575
32 years$5,583$3,903$2,669$1,792$1,185$503
33 years$5,355$3,696$2,492$1,648$1,073$441
34 years$5,140$3,503$2,328$1,516$971$386
35 years$4,939$3,323$2,177$1,396$880$338
36 years$4,749$3,154$2,036$1,285$797$296
37 years$4,570$2,995$1,906$1,184$722$260
38 years$4,400$2,846$1,785$1,091$655$227
39 years$4,240$2,707$1,672$1,006$594$199
40 years$4,088$2,575$1,567$928$539$175
41 years$3,944$2,451$1,470$856$489$153
42 years$3,807$2,335$1,379$790$443$134
43 years$3,676$2,224$1,294$730$402$118
44 years$3,553$2,120$1,214$674$365$103
45 years$3,434$2,022$1,140$622$332$91
46 years$3,322$1,929$1,071$575$301$79
47 years$3,214$1,841$1,006$531$273$70
48 years$3,112$1,757$945$491$248$61
49 years$3,013$1,678$889$453$226$54
50 years$2,919$1,603$835$419$205$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $2,990,000, adding $2,475 every year, while hoping to spend $20,810 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: 75/12/13 Blend
73$2,990,000$2,990,000$2,990,000$2,990,000
74$3,297,533$3,139,063$3,092,718$3,535,857
75$3,611,740$3,270,735$3,174,182$3,825,211
76$3,957,298$3,408,162$3,257,678$4,139,393
77$4,337,384$3,551,604$3,343,252$4,483,150
78$4,755,496$3,701,332$3,430,950$4,859,414
79$5,215,491$3,857,631$3,520,821$5,271,416
80$5,721,615$4,020,799$3,612,913$5,722,708
81$6,278,550$4,191,148$3,707,275$6,217,207
82$6,891,451$4,369,004$3,803,959$6,759,222
83$7,566,003$4,554,708$3,903,014$7,353,498
84$8,308,464$4,748,618$4,004,494$8,005,264
85$9,125,735$4,951,108$4,108,452$8,720,275
86$10,025,416$5,162,568$4,214,942$9,504,870
87$11,015,883$5,383,409$4,324,017$10,366,031
88$12,106,367$5,614,059$4,435,735$11,311,447
89$13,307,035$5,854,967$4,550,152$12,349,588
90$14,629,096$6,106,604$4,667,324$13,489,783
91$16,084,896$6,369,459$4,787,312$14,742,307
92$17,688,041$6,644,049$4,910,173$16,118,479
93$19,453,526$6,930,913$5,035,969$17,630,767
94$21,397,872$7,230,613$5,164,760$19,292,904
95$23,539,284$7,543,742$5,296,608$21,120,021
96$25,897,822$7,870,917$5,431,576$23,128,784
97$28,495,594$8,212,786$5,569,728$25,337,554
98$31,356,959$8,570,026$5,711,128$27,766,559
99$34,508,759$8,943,349$5,855,841$30,438,083
100$37,980,575$9,333,495$6,003,935$33,376,675