Can I retire at age 74 with 1,000,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$82,579$81,843$81,126$80,425$79,741$79,239
2 years$40,881$40,119$39,381$38,666$37,972$37,465
3 years$26,983$26,218$25,482$24,774$24,091$23,595
4 years$20,036$19,273$18,545$17,848$17,182$16,701
5 years$15,868$15,111$14,391$13,709$13,061$12,598
6 years$13,091$12,339$11,630$10,963$10,335$9,888
7 years$11,108$10,362$9,665$9,013$8,405$7,976
8 years$9,621$8,882$8,197$7,561$6,973$6,561
9 years$8,466$7,734$7,060$6,440$5,872$5,477
10 years$7,542$6,817$6,155$5,552$5,003$4,626
11 years$6,786$6,069$5,419$4,832$4,303$3,942
12 years$6,157$5,447$4,809$4,238$3,729$3,385
13 years$5,625$4,922$4,296$3,742$3,252$2,924
14 years$5,170$4,474$3,860$3,321$2,850$2,538
15 years$4,775$4,087$3,485$2,962$2,510$2,213
16 years$4,430$3,750$3,160$2,652$2,218$1,936
17 years$4,126$3,454$2,875$2,383$1,967$1,699
18 years$3,857$3,191$2,625$2,148$1,749$1,495
19 years$3,615$2,958$2,403$1,940$1,559$1,319
20 years$3,399$2,748$2,205$1,757$1,392$1,165
21 years$3,203$2,560$2,029$1,595$1,246$1,031
22 years$3,025$2,390$1,870$1,450$1,117$914
23 years$2,863$2,235$1,726$1,321$1,002$812
24 years$2,714$2,094$1,596$1,205$901$721
25 years$2,578$1,965$1,479$1,100$811$642
26 years$2,453$1,847$1,371$1,006$730$571
27 years$2,336$1,738$1,273$921$658$509
28 years$2,229$1,638$1,184$844$594$454
29 years$2,129$1,545$1,102$774$537$405
30 years$2,036$1,459$1,026$710$485$362
31 years$1,949$1,380$957$652$438$323
32 years$1,867$1,305$893$599$396$289
33 years$1,791$1,236$833$551$359$258
34 years$1,719$1,172$779$507$325$231
35 years$1,652$1,111$728$467$294$206
36 years$1,588$1,055$681$430$267$185
37 years$1,528$1,002$637$396$242$165
38 years$1,472$952$597$365$219$148
39 years$1,418$905$559$337$199$132
40 years$1,367$861$524$310$180$119
41 years$1,319$820$492$286$163$106
42 years$1,273$781$461$264$148$95
43 years$1,230$744$433$244$135$85
44 years$1,188$709$406$225$122$76
45 years$1,149$676$381$208$111$68
46 years$1,111$645$358$192$101$61
47 years$1,075$616$336$178$91$55
48 years$1,041$588$316$164$83$49
49 years$1,008$561$297$152$75$44
50 years$976$536$279$140$69$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,000,000, adding $3,692 every year, while hoping to spend $49,598 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: 49/21/30 Blend
73$1,000,000$1,000,000$1,000,000$1,000,000
74$1,105,808$1,052,808$1,037,308$1,150,387
75$1,165,829$1,051,624$1,019,286$1,180,927
76$1,230,309$1,048,719$998,998$1,208,932
77$1,299,652$1,043,958$976,316$1,238,415
78$1,374,299$1,037,194$951,105$1,269,540
79$1,454,735$1,028,275$923,225$1,302,493
80$1,541,494$1,017,036$892,529$1,337,481
81$1,635,162$1,003,306$858,864$1,374,734
82$1,736,381$986,901$822,068$1,414,508
83$1,845,859$967,626$781,975$1,457,093
84$1,964,374$945,277$738,408$1,502,807
85$2,092,779$919,635$691,184$1,552,007
86$2,232,015$890,469$640,111$1,605,091
87$2,383,115$857,537$584,989$1,662,502
88$2,547,216$820,579$525,609$1,724,730
89$2,725,567$779,322$461,752$1,792,323
90$2,919,543$733,478$393,189$1,865,890
91$3,130,658$682,740$319,683$1,946,107
92$3,360,577$626,785$240,984$2,033,723
93$3,611,131$565,273$156,832$2,129,573
94$3,884,336$497,841$66,955$2,234,582
95$4,182,411$424,108$0$2,349,776
96$4,507,800$343,672$0$2,485,564
97$4,863,189$256,106$0$2,657,413
98$5,251,540$160,960$0$2,845,367
99$5,676,109$57,760$0$3,051,079
100$6,140,486$0$0$3,276,375