Can I retire at age 74 with 1,020,000?

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$84,231$83,480$82,748$82,034$81,336$80,220
2 years$41,698$40,922$40,169$39,439$38,732$37,609
3 years$27,523$26,743$25,992$25,269$24,573$23,479
4 years$20,436$19,659$18,916$18,205$17,526$16,469
5 years$16,186$15,413$14,679$13,983$13,323$12,306
6 years$13,353$12,586$11,863$11,182$10,542$9,566
7 years$11,330$10,569$9,858$9,194$8,573$7,639
8 years$9,814$9,060$8,361$7,712$7,112$6,220
9 years$8,635$7,888$7,201$6,569$5,990$5,138
10 years$7,692$6,953$6,278$5,663$5,103$4,292
11 years$6,922$6,190$5,527$4,928$4,389$3,617
12 years$6,280$5,556$4,905$4,323$3,804$3,071
13 years$5,738$5,021$4,382$3,816$3,317$2,622
14 years$5,273$4,564$3,938$3,388$2,907$2,249
15 years$4,871$4,169$3,555$3,021$2,560$1,937
16 years$4,519$3,825$3,223$2,705$2,262$1,674
17 years$4,209$3,523$2,933$2,431$2,006$1,451
18 years$3,934$3,255$2,677$2,190$1,784$1,260
19 years$3,688$3,017$2,451$1,979$1,590$1,097
20 years$3,467$2,803$2,249$1,793$1,420$957
21 years$3,267$2,611$2,069$1,627$1,271$836
22 years$3,085$2,438$1,907$1,479$1,139$731
23 years$2,920$2,280$1,761$1,347$1,023$640
24 years$2,769$2,136$1,628$1,229$919$561
25 years$2,630$2,005$1,508$1,122$827$492
26 years$2,502$1,884$1,399$1,026$745$432
27 years$2,383$1,773$1,299$939$672$379
28 years$2,273$1,671$1,208$860$606$333
29 years$2,171$1,576$1,124$789$547$293
30 years$2,076$1,488$1,047$724$494$258
31 years$1,988$1,407$976$665$447$227
32 years$1,905$1,331$910$611$404$200
33 years$1,827$1,261$850$562$366$176
34 years$1,754$1,195$794$517$331$155
35 years$1,685$1,133$743$476$300$137
36 years$1,620$1,076$695$438$272$120
37 years$1,559$1,022$650$404$246$106
38 years$1,501$971$609$372$223$94
39 years$1,446$923$570$343$203$83
40 years$1,395$879$535$317$184$73
41 years$1,345$836$501$292$167$64
42 years$1,299$796$470$270$151$57
43 years$1,254$759$441$249$137$50
44 years$1,212$723$414$230$125$44
45 years$1,172$690$389$212$113$39
46 years$1,133$658$365$196$103$34
47 years$1,097$628$343$181$93$30
48 years$1,061$599$323$167$85$27
49 years$1,028$572$303$155$77$24
50 years$996$547$285$143$70$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,020,000, adding $5,045 every year, while hoping to spend $25,649 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: 38/34/28 Blend
73$1,020,000$1,020,000$1,020,000$1,020,000
74$1,129,244$1,075,184$1,059,374$1,162,582
75$1,217,136$1,100,578$1,067,573$1,212,923
76$1,313,134$1,126,356$1,075,186$1,264,576
77$1,418,037$1,152,511$1,082,168$1,319,911
78$1,532,726$1,179,032$1,088,470$1,379,280
79$1,658,169$1,205,910$1,094,039$1,443,070
80$1,795,434$1,233,132$1,098,821$1,511,707
81$1,945,697$1,260,683$1,102,759$1,585,662
82$2,110,250$1,288,549$1,105,795$1,665,455
83$2,290,521$1,316,713$1,107,863$1,751,657
84$2,488,077$1,345,155$1,108,900$1,844,901
85$2,704,647$1,373,854$1,108,834$1,945,882
86$2,942,135$1,402,787$1,107,594$2,055,369
87$3,202,638$1,431,928$1,105,104$2,174,209
88$3,488,465$1,461,251$1,101,283$2,303,335
89$3,802,159$1,490,723$1,096,047$2,443,778
90$4,146,524$1,520,313$1,089,309$2,596,673
91$4,524,645$1,549,984$1,080,976$2,763,275
92$4,939,922$1,579,696$1,070,952$2,944,964
93$5,396,101$1,609,408$1,059,136$3,143,266
94$5,897,308$1,639,074$1,045,421$3,359,861
95$6,448,088$1,668,644$1,029,698$3,596,602
96$7,053,450$1,698,064$1,011,849$3,855,535
97$7,718,909$1,727,276$991,754$4,138,913
98$8,450,545$1,756,220$969,285$4,449,224
99$9,255,053$1,784,827$944,308$4,789,209
100$10,139,811$1,813,027$916,686$5,161,892