Can I retire at age 74 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$98,269$97,394$96,540$95,706$94,892$94,137
2 years$48,648$47,742$46,864$46,013$45,187$44,425
3 years$32,110$31,200$30,324$29,481$28,668$27,924
4 years$23,842$22,935$22,068$21,239$20,447$19,725
5 years$18,883$17,982$17,126$16,314$15,543$14,847
6 years$15,578$14,683$13,840$13,046$12,299$11,629
7 years$13,218$12,331$11,501$10,726$10,002$9,359
8 years$11,449$10,570$9,754$8,998$8,298$7,682
9 years$10,074$9,203$8,401$7,664$6,988$6,398
10 years$8,975$8,112$7,324$6,607$5,954$5,390
11 years$8,076$7,222$6,448$5,750$5,121$4,583
12 years$7,327$6,482$5,723$5,043$4,437$3,925
13 years$6,694$5,858$5,113$4,452$3,870$3,381
14 years$6,152$5,324$4,594$3,952$3,392$2,928
15 years$5,682$4,864$4,148$3,525$2,987$2,546
16 years$5,272$4,463$3,760$3,156$2,640$2,221
17 years$4,910$4,110$3,422$2,836$2,340$1,944
18 years$4,589$3,798$3,124$2,556$2,081$1,706
19 years$4,302$3,520$2,860$2,309$1,855$1,500
20 years$4,044$3,271$2,624$2,091$1,657$1,322
21 years$3,811$3,046$2,414$1,898$1,483$1,167
22 years$3,600$2,844$2,225$1,726$1,329$1,031
23 years$3,407$2,660$2,054$1,572$1,193$912
24 years$3,230$2,492$1,900$1,433$1,072$808
25 years$3,068$2,339$1,760$1,309$965$717
26 years$2,919$2,198$1,632$1,197$869$636
27 years$2,780$2,069$1,515$1,096$784$565
28 years$2,652$1,949$1,409$1,004$707$502
29 years$2,533$1,839$1,311$921$638$447
30 years$2,422$1,737$1,221$845$577$398
31 years$2,319$1,642$1,138$776$522$354
32 years$2,222$1,553$1,062$713$472$315
33 years$2,131$1,471$992$656$427$281
34 years$2,046$1,394$927$603$387$250
35 years$1,966$1,322$866$555$350$223
36 years$1,890$1,255$810$512$317$199
37 years$1,819$1,192$759$471$288$178
38 years$1,751$1,133$710$434$261$158
39 years$1,687$1,077$666$401$236$141
40 years$1,627$1,025$624$369$214$126
41 years$1,570$976$585$341$195$113
42 years$1,515$929$549$315$176$101
43 years$1,463$885$515$290$160$90
44 years$1,414$844$483$268$145$80
45 years$1,367$805$454$248$132$72
46 years$1,322$768$426$229$120$64
47 years$1,279$733$400$211$109$57
48 years$1,238$699$376$195$99$51
49 years$1,199$668$354$180$90$46
50 years$1,162$638$333$167$82$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,190,000, adding $5,425 every year, while hoping to spend $54,892 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: 63/11/26 Blend
73$1,190,000$1,190,000$1,190,000$1,190,000
74$1,316,976$1,253,906$1,235,461$1,390,554
75$1,392,903$1,256,943$1,218,444$1,444,060
76$1,474,734$1,258,288$1,199,018$1,495,952
77$1,563,015$1,257,802$1,177,043$1,551,429
78$1,658,343$1,255,335$1,152,374$1,610,852
79$1,761,375$1,250,728$1,124,860$1,674,616
80$1,872,834$1,243,812$1,094,341$1,743,162
81$1,993,514$1,234,409$1,060,652$1,816,976
82$2,124,286$1,222,329$1,023,618$1,896,594
83$2,266,112$1,207,372$983,057$1,982,612
84$2,420,046$1,189,323$938,780$2,075,687
85$2,587,249$1,167,959$890,588$2,176,545
86$2,768,998$1,143,038$838,272$2,285,989
87$2,966,698$1,114,309$781,616$2,404,908
88$3,181,893$1,081,503$720,393$2,534,282
89$3,416,286$1,044,336$654,366$2,675,196
90$3,671,747$1,002,508$583,286$2,828,849
91$3,950,335$955,701$506,896$2,996,563
92$4,254,317$903,578$424,925$3,179,801
93$4,586,188$845,785$337,091$3,380,180
94$4,948,695$781,944$243,100$3,599,483
95$5,344,861$711,659$142,643$3,839,681
96$5,778,016$634,508$35,400$4,102,951
97$6,251,823$550,049$0$4,391,697
98$6,770,319$457,811$0$4,730,501
99$7,337,947$357,300$0$5,112,269
100$7,959,600$247,990$0$5,530,508