Can I retire at age 74 with 1,110,000?

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 $1,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$91,663$90,846$90,050$89,272$88,513$87,625
2 years$45,378$44,532$43,713$42,919$42,149$41,255
3 years$29,951$29,102$28,285$27,499$26,741$25,868
4 years$22,240$21,393$20,585$19,811$19,072$18,227
5 years$17,614$16,773$15,974$15,217$14,498$13,684
6 years$14,531$13,696$12,910$12,169$11,472$10,689
7 years$12,330$11,502$10,728$10,005$9,330$8,579
8 years$10,680$9,859$9,098$8,393$7,740$7,021
9 years$9,397$8,584$7,836$7,149$6,518$5,831
10 years$8,371$7,567$6,832$6,162$5,554$4,898
11 years$7,533$6,736$6,015$5,363$4,776$4,151
12 years$6,834$6,046$5,338$4,704$4,139$3,544
13 years$6,244$5,464$4,769$4,153$3,609$3,043
14 years$5,738$4,966$4,285$3,687$3,164$2,626
15 years$5,300$4,537$3,869$3,288$2,786$2,276
16 years$4,918$4,163$3,508$2,944$2,462$1,979
17 years$4,580$3,834$3,192$2,645$2,183$1,726
18 years$4,281$3,542$2,914$2,384$1,941$1,509
19 years$4,013$3,283$2,667$2,154$1,730$1,322
20 years$3,773$3,051$2,448$1,951$1,545$1,161
21 years$3,555$2,842$2,252$1,770$1,383$1,021
22 years$3,358$2,653$2,075$1,610$1,240$899
23 years$3,178$2,481$1,916$1,466$1,113$792
24 years$3,013$2,324$1,772$1,337$1,000$699
25 years$2,862$2,181$1,641$1,221$900$618
26 years$2,722$2,050$1,522$1,117$811$546
27 years$2,593$1,929$1,414$1,022$731$483
28 years$2,474$1,818$1,314$936$660$428
29 years$2,363$1,715$1,223$859$596$379
30 years$2,259$1,620$1,139$788$538$336
31 years$2,163$1,531$1,062$724$486$298
32 years$2,073$1,449$991$665$440$264
33 years$1,988$1,372$925$612$398$234
34 years$1,908$1,300$864$563$361$208
35 years$1,833$1,233$808$518$327$185
36 years$1,763$1,171$756$477$296$164
37 years$1,696$1,112$708$440$268$146
38 years$1,633$1,057$663$405$243$129
39 years$1,574$1,005$621$374$220$115
40 years$1,518$956$582$345$200$102
41 years$1,464$910$546$318$181$91
42 years$1,413$867$512$293$165$81
43 years$1,365$826$480$271$149$72
44 years$1,319$787$451$250$136$64
45 years$1,275$751$423$231$123$57
46 years$1,233$716$398$213$112$50
47 years$1,193$683$373$197$102$45
48 years$1,155$652$351$182$92$40
49 years$1,119$623$330$168$84$35
50 years$1,084$595$310$156$76$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,110,000, adding $2,022 every year, while hoping to spend $50,723 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: 34/41/25 Blend
73$1,110,000$1,110,000$1,110,000$1,110,000
74$1,225,306$1,166,476$1,149,271$1,257,598
75$1,296,318$1,169,664$1,133,802$1,285,119
76$1,372,874$1,171,309$1,116,116$1,310,048
77$1,455,484$1,171,280$1,096,083$1,335,923
78$1,544,712$1,169,442$1,073,571$1,362,862
79$1,641,176$1,165,647$1,048,438$1,390,997
80$1,745,554$1,159,743$1,020,539$1,420,479
81$1,858,594$1,151,563$989,721$1,451,478
82$1,981,116$1,140,935$955,822$1,484,184
83$2,114,023$1,127,674$918,675$1,518,814
84$2,258,308$1,111,585$878,105$1,555,610
85$2,415,062$1,092,460$833,929$1,594,845
86$2,585,488$1,070,079$785,954$1,636,825
87$2,770,905$1,044,211$733,982$1,681,894
88$2,972,769$1,014,608$677,801$1,730,437
89$3,192,678$981,011$617,195$1,782,884
90$3,432,394$943,143$551,933$1,839,718
91$3,693,854$900,713$481,779$1,901,478
92$3,979,191$853,411$406,482$1,968,765
93$4,290,751$800,912$325,782$2,042,252
94$4,631,120$742,868$239,408$2,122,688
95$5,003,142$678,917$147,075$2,210,910
96$5,409,948$608,670$48,489$2,307,847
97$5,854,989$531,720$0$2,414,537
98$6,342,060$447,637$0$2,547,265
99$6,875,343$355,964$0$2,706,971
100$7,459,443$256,221$0$2,882,224