Can I retire at age 74 with 1,180,000?

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$97,443$96,575$95,728$94,902$94,095$92,346
2 years$48,239$47,341$46,470$45,626$44,807$43,052
3 years$31,840$30,938$30,069$29,233$28,427$26,720
4 years$23,642$22,743$21,883$21,061$20,275$18,629
5 years$18,725$17,830$16,982$16,177$15,413$13,833
6 years$15,447$14,560$13,724$12,937$12,195$10,683
7 years$13,107$12,227$11,405$10,636$9,918$8,474
8 years$11,353$10,481$9,672$8,922$8,228$6,852
9 years$9,989$9,126$8,331$7,600$6,929$5,620
10 years$8,899$8,044$7,263$6,551$5,904$4,661
11 years$8,008$7,161$6,394$5,701$5,078$3,899
12 years$7,265$6,427$5,675$5,001$4,400$3,284
13 years$6,638$5,808$5,070$4,415$3,837$2,782
14 years$6,100$5,280$4,555$3,919$3,364$2,367
15 years$5,635$4,823$4,113$3,495$2,962$2,022
16 years$5,228$4,425$3,729$3,130$2,617$1,733
17 years$4,869$4,075$3,393$2,812$2,321$1,489
18 years$4,551$3,766$3,097$2,534$2,064$1,282
19 years$4,266$3,490$2,836$2,290$1,839$1,107
20 years$4,010$3,243$2,602$2,074$1,643$956
21 years$3,779$3,021$2,394$1,882$1,470$828
22 years$3,569$2,820$2,206$1,711$1,318$717
23 years$3,378$2,637$2,037$1,558$1,183$622
24 years$3,203$2,471$1,884$1,421$1,063$540
25 years$3,042$2,319$1,745$1,298$957$469
26 years$2,894$2,179$1,618$1,187$862$408
27 years$2,757$2,051$1,503$1,086$777$355
28 years$2,630$1,933$1,397$995$701$309
29 years$2,512$1,823$1,300$913$633$269
30 years$2,402$1,722$1,211$838$572$235
31 years$2,299$1,628$1,129$769$517$204
32 years$2,203$1,540$1,053$707$468$178
33 years$2,113$1,459$983$650$423$155
34 years$2,029$1,382$919$598$383$135
35 years$1,949$1,311$859$551$347$118
36 years$1,874$1,245$804$507$315$103
37 years$1,803$1,182$752$467$285$90
38 years$1,736$1,123$704$431$258$78
39 years$1,673$1,068$660$397$234$68
40 years$1,613$1,016$619$366$213$60
41 years$1,556$967$580$338$193$52
42 years$1,502$921$544$312$175$46
43 years$1,451$878$511$288$159$40
44 years$1,402$837$479$266$144$35
45 years$1,355$798$450$246$131$30
46 years$1,311$761$423$227$119$26
47 years$1,269$726$397$210$108$23
48 years$1,228$693$373$194$98$20
49 years$1,189$662$351$179$89$18
50 years$1,152$633$330$165$81$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,180,000, adding $5,688 every year, while hoping to spend $44,587 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: 60/31/9 Blend
73$1,180,000$1,180,000$1,180,000$1,180,000
74$1,306,227$1,243,687$1,225,397$1,381,626
75$1,392,022$1,257,188$1,219,008$1,446,383
76$1,485,074$1,269,855$1,210,910$1,511,393
77$1,586,075$1,281,602$1,200,999$1,581,196
78$1,695,789$1,292,335$1,189,167$1,656,255
79$1,815,053$1,301,953$1,175,298$1,737,080
80$1,944,791$1,310,351$1,159,272$1,824,237
81$2,086,017$1,317,415$1,140,965$1,918,349
82$2,239,848$1,323,025$1,120,245$2,020,102
83$2,407,512$1,327,054$1,096,973$2,130,255
84$2,590,364$1,329,365$1,071,007$2,249,644
85$2,789,891$1,329,814$1,042,196$2,379,194
86$3,007,732$1,328,246$1,010,381$2,519,924
87$3,245,690$1,324,501$975,399$2,672,957
88$3,505,753$1,318,403$937,077$2,839,535
89$3,790,105$1,309,770$895,234$3,021,027
90$4,101,154$1,298,408$849,683$3,218,944
91$4,441,551$1,284,109$800,227$3,434,953
92$4,814,213$1,266,654$746,659$3,670,894
93$5,222,356$1,245,813$688,764$3,928,796
94$5,669,517$1,221,339$626,319$4,210,900
95$6,159,595$1,192,972$559,088$4,519,675
96$6,696,882$1,160,436$486,826$4,857,848
97$7,286,107$1,123,440$409,277$5,228,427
98$7,932,475$1,081,674$326,174$5,634,729
99$8,641,724$1,034,812$237,236$6,080,415
100$9,420,170$982,509$142,174$6,569,522