Can I retire at age 74 with 1,200,000?

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 $1,200,000?

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$99,095$98,212$97,351$96,510$95,690$94,730
2 years$49,057$48,143$47,258$46,399$45,567$44,600
3 years$32,380$31,462$30,579$29,728$28,909$27,966
4 years$24,043$23,128$22,254$21,418$20,618$19,705
5 years$19,042$18,133$17,270$16,451$15,674$14,793
6 years$15,709$14,807$13,956$13,156$12,402$11,556
7 years$13,329$12,435$11,598$10,816$10,086$9,274
8 years$11,546$10,659$9,836$9,073$8,367$7,590
9 years$10,159$9,280$8,472$7,729$7,047$6,303
10 years$9,050$8,180$7,386$6,662$6,004$5,295
11 years$8,143$7,282$6,502$5,798$5,164$4,487
12 years$7,388$6,536$5,771$5,086$4,475$3,831
13 years$6,750$5,907$5,156$4,490$3,902$3,290
14 years$6,204$5,369$4,632$3,986$3,421$2,839
15 years$5,730$4,905$4,182$3,554$3,012$2,460
16 years$5,316$4,500$3,792$3,183$2,662$2,140
17 years$4,952$4,144$3,451$2,860$2,360$1,866
18 years$4,628$3,830$3,150$2,577$2,098$1,632
19 years$4,339$3,549$2,884$2,329$1,870$1,430
20 years$4,078$3,298$2,646$2,109$1,671$1,255
21 years$3,843$3,072$2,434$1,914$1,495$1,104
22 years$3,630$2,868$2,244$1,740$1,340$972
23 years$3,435$2,682$2,071$1,585$1,203$857
24 years$3,257$2,513$1,916$1,446$1,081$756
25 years$3,094$2,358$1,774$1,320$973$668
26 years$2,943$2,216$1,646$1,207$876$591
27 years$2,804$2,086$1,528$1,105$790$523
28 years$2,675$1,966$1,421$1,012$713$463
29 years$2,555$1,854$1,322$928$644$410
30 years$2,443$1,751$1,231$852$582$363
31 years$2,338$1,655$1,148$782$526$322
32 years$2,241$1,566$1,071$719$476$286
33 years$2,149$1,483$1,000$661$431$253
34 years$2,063$1,406$934$608$390$225
35 years$1,982$1,333$874$560$353$200
36 years$1,906$1,266$817$516$320$177
37 years$1,834$1,202$765$475$290$158
38 years$1,766$1,142$716$438$263$140
39 years$1,702$1,086$671$404$238$124
40 years$1,641$1,034$629$373$216$110
41 years$1,583$984$590$344$196$98
42 years$1,528$937$553$317$178$87
43 years$1,476$893$519$293$162$78
44 years$1,426$851$487$270$147$69
45 years$1,378$811$458$250$133$61
46 years$1,333$774$430$231$121$55
47 years$1,290$739$404$213$110$48
48 years$1,249$705$379$197$100$43
49 years$1,209$673$357$182$91$38
50 years$1,172$643$335$168$82$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,200,000, adding $2,946 every year, while hoping to spend $46,504 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: 66/6/28 Blend
73$1,200,000$1,200,000$1,200,000$1,200,000
74$1,325,439$1,261,839$1,243,239$1,402,965
75$1,411,154$1,274,189$1,235,407$1,468,001
76$1,504,053$1,285,586$1,225,755$1,533,616
77$1,604,820$1,295,933$1,214,172$1,604,333
78$1,714,207$1,305,129$1,200,542$1,680,660
79$1,833,041$1,313,066$1,184,745$1,763,154
80$1,962,232$1,319,626$1,166,654$1,852,435
81$2,102,779$1,324,688$1,146,137$1,949,185
82$2,255,786$1,328,121$1,123,056$2,054,156
83$2,422,462$1,329,785$1,097,264$2,168,179
84$2,604,142$1,329,533$1,068,612$2,292,170
85$2,802,293$1,327,209$1,036,939$2,427,141
86$3,018,530$1,322,645$1,002,079$2,574,209
87$3,254,631$1,315,665$963,859$2,734,605
88$3,512,553$1,306,082$922,098$2,909,689
89$3,794,450$1,293,697$876,605$3,100,960
90$4,102,694$1,278,299$827,182$3,310,073
91$4,439,898$1,259,664$773,621$3,538,853
92$4,808,936$1,237,557$715,707$3,789,315
93$5,212,976$1,211,725$653,211$4,063,681
94$5,655,504$1,181,904$585,898$4,364,401
95$6,140,360$1,147,812$513,520$4,694,180
96$6,671,773$1,109,151$435,819$5,055,999
97$7,254,401$1,065,606$352,526$5,453,150
98$7,893,373$1,016,844$263,359$5,889,261
99$8,594,340$962,512$168,024$6,368,333
100$9,363,524$902,237$66,214$6,894,782