Can I retire at age 74 with 1,010,000?

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$83,405$82,662$81,937$81,230$80,539$79,698
2 years$41,290$40,521$39,775$39,053$38,352$37,505
3 years$27,253$26,481$25,737$25,021$24,332$23,505
4 years$20,236$19,466$18,730$18,027$17,354$16,554
5 years$16,027$15,262$14,535$13,846$13,192$12,421
6 years$13,222$12,462$11,747$11,073$10,438$9,698
7 years$11,219$10,466$9,762$9,104$8,489$7,779
8 years$9,717$8,971$8,279$7,637$7,043$6,362
9 years$8,550$7,811$7,130$6,505$5,931$5,281
10 years$7,617$6,885$6,216$5,607$5,053$4,433
11 years$6,854$6,129$5,473$4,880$4,346$3,755
12 years$6,219$5,501$4,857$4,280$3,766$3,203
13 years$5,681$4,972$4,339$3,779$3,284$2,749
14 years$5,221$4,519$3,899$3,355$2,879$2,371
15 years$4,823$4,128$3,520$2,992$2,535$2,053
16 years$4,475$3,788$3,192$2,679$2,240$1,784
17 years$4,168$3,488$2,904$2,407$1,986$1,555
18 years$3,895$3,223$2,651$2,169$1,766$1,359
19 years$3,652$2,987$2,427$1,960$1,574$1,190
20 years$3,433$2,776$2,227$1,775$1,406$1,044
21 years$3,235$2,586$2,049$1,611$1,258$917
22 years$3,055$2,414$1,888$1,465$1,128$807
23 years$2,891$2,257$1,743$1,334$1,013$711
24 years$2,742$2,115$1,612$1,217$910$627
25 years$2,604$1,985$1,493$1,111$819$553
26 years$2,477$1,865$1,385$1,016$738$489
27 years$2,360$1,756$1,286$930$665$432
28 years$2,251$1,654$1,196$852$600$382
29 years$2,150$1,561$1,113$781$542$338
30 years$2,056$1,474$1,036$717$490$300
31 years$1,968$1,393$966$659$443$265
32 years$1,886$1,318$901$605$400$235
33 years$1,809$1,248$842$557$362$209
34 years$1,736$1,183$786$512$328$185
35 years$1,668$1,122$735$471$297$164
36 years$1,604$1,065$688$434$269$146
37 years$1,544$1,012$644$400$244$129
38 years$1,486$962$603$369$221$115
39 years$1,432$914$565$340$201$102
40 years$1,381$870$529$314$182$90
41 years$1,332$828$496$289$165$80
42 years$1,286$789$466$267$150$71
43 years$1,242$751$437$246$136$63
44 years$1,200$716$410$228$123$56
45 years$1,160$683$385$210$112$50
46 years$1,122$652$362$194$102$44
47 years$1,086$622$340$179$92$39
48 years$1,051$594$319$166$84$35
49 years$1,018$567$300$153$76$31
50 years$986$541$282$142$69$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,010,000, adding $2,231 every year, while hoping to spend $26,800 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: 56/15/29 Blend
73$1,010,000$1,010,000$1,010,000$1,010,000
74$1,115,321$1,061,791$1,046,136$1,168,732
75$1,200,569$1,085,304$1,052,667$1,229,283
76$1,293,614$1,109,071$1,058,518$1,292,263
77$1,395,223$1,133,075$1,063,639$1,360,348
78$1,506,240$1,157,301$1,067,975$1,434,042
79$1,627,595$1,181,727$1,071,471$1,513,897
80$1,760,312$1,206,334$1,074,067$1,600,525
81$1,905,517$1,231,097$1,075,701$1,694,598
82$2,064,451$1,255,992$1,076,309$1,796,858
83$2,238,480$1,280,991$1,075,820$1,908,125
84$2,429,108$1,306,063$1,074,164$2,029,300
85$2,637,994$1,331,177$1,071,265$2,161,378
86$2,866,961$1,356,296$1,067,044$2,305,457
87$3,118,019$1,381,383$1,061,418$2,462,745
88$3,393,382$1,406,396$1,054,300$2,634,576
89$3,695,488$1,431,290$1,045,600$2,822,421
90$4,027,022$1,456,017$1,035,222$3,027,900
91$4,390,942$1,480,526$1,023,066$3,252,802
92$4,790,507$1,504,760$1,009,027$3,499,096
93$5,229,305$1,528,660$992,996$3,768,956
94$5,711,291$1,552,161$974,859$4,064,778
95$6,240,821$1,575,195$954,494$4,389,202
96$6,822,692$1,597,687$931,777$4,745,141
97$7,462,191$1,619,559$906,577$5,135,805
98$8,165,142$1,640,725$878,755$5,564,734
99$8,937,962$1,661,095$848,168$6,035,830
100$9,787,717$1,680,572$814,665$6,553,395