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%11.8%
1 years$99,095$98,212$97,351$96,510$95,690$94,967
2 years$49,057$48,143$47,258$46,399$45,567$44,838
3 years$32,380$31,462$30,579$29,728$28,909$28,198
4 years$24,043$23,128$22,254$21,418$20,618$19,929
5 years$19,042$18,133$17,270$16,451$15,674$15,008
6 years$15,709$14,807$13,956$13,156$12,402$11,762
7 years$13,329$12,435$11,598$10,816$10,086$9,471
8 years$11,546$10,659$9,836$9,073$8,367$7,778
9 years$10,159$9,280$8,472$7,729$7,047$6,482
10 years$9,050$8,180$7,386$6,662$6,004$5,464
11 years$8,143$7,282$6,502$5,798$5,164$4,648
12 years$7,388$6,536$5,771$5,086$4,475$3,983
13 years$6,750$5,907$5,156$4,490$3,902$3,434
14 years$6,204$5,369$4,632$3,986$3,421$2,975
15 years$5,730$4,905$4,182$3,554$3,012$2,589
16 years$5,316$4,500$3,792$3,183$2,662$2,260
17 years$4,952$4,144$3,451$2,860$2,360$1,980
18 years$4,628$3,830$3,150$2,577$2,098$1,738
19 years$4,339$3,549$2,884$2,329$1,870$1,530
20 years$4,078$3,298$2,646$2,109$1,671$1,349
21 years$3,843$3,072$2,434$1,914$1,495$1,191
22 years$3,630$2,868$2,244$1,740$1,340$1,054
23 years$3,435$2,682$2,071$1,585$1,203$933
24 years$3,257$2,513$1,916$1,446$1,081$828
25 years$3,094$2,358$1,774$1,320$973$734
26 years$2,943$2,216$1,646$1,207$876$652
27 years$2,804$2,086$1,528$1,105$790$580
28 years$2,675$1,966$1,421$1,012$713$516
29 years$2,555$1,854$1,322$928$644$459
30 years$2,443$1,751$1,231$852$582$409
31 years$2,338$1,655$1,148$782$526$364
32 years$2,241$1,566$1,071$719$476$325
33 years$2,149$1,483$1,000$661$431$290
34 years$2,063$1,406$934$608$390$258
35 years$1,982$1,333$874$560$353$231
36 years$1,906$1,266$817$516$320$206
37 years$1,834$1,202$765$475$290$184
38 years$1,766$1,142$716$438$263$164
39 years$1,702$1,086$671$404$238$147
40 years$1,641$1,034$629$373$216$131
41 years$1,583$984$590$344$196$117
42 years$1,528$937$553$317$178$104
43 years$1,476$893$519$293$162$93
44 years$1,426$851$487$270$147$83
45 years$1,378$811$458$250$133$75
46 years$1,333$774$430$231$121$67
47 years$1,290$739$404$213$110$60
48 years$1,249$705$379$197$100$53
49 years$1,209$673$357$182$91$48
50 years$1,172$643$335$168$82$43

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 $3,133 every year, while hoping to spend $35,165 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: 52/19/29 Blend
73$1,200,000$1,200,000$1,200,000$1,200,000
74$1,325,632$1,262,032$1,243,432$1,383,618
75$1,423,431$1,286,456$1,247,671$1,448,728
76$1,530,027$1,310,898$1,250,874$1,515,729
77$1,646,280$1,335,323$1,252,969$1,587,930
78$1,773,137$1,359,690$1,253,880$1,665,844
79$1,911,640$1,383,958$1,253,528$1,750,036
80$2,062,936$1,408,080$1,251,830$1,841,130
81$2,228,288$1,432,009$1,248,699$1,939,813
82$2,409,086$1,455,690$1,244,043$2,046,845
83$2,606,861$1,479,067$1,237,767$2,163,061
84$2,823,299$1,502,079$1,229,770$2,289,388
85$3,060,255$1,524,661$1,219,947$2,426,842
86$3,319,774$1,546,742$1,208,188$2,576,549
87$3,604,106$1,568,248$1,194,377$2,739,749
88$3,915,730$1,589,097$1,178,394$2,917,810
89$4,257,375$1,609,204$1,160,111$3,112,242
90$4,632,049$1,628,477$1,139,397$3,324,709
91$5,043,064$1,646,817$1,116,111$3,557,048
92$5,494,065$1,664,120$1,090,110$3,811,286
93$5,989,072$1,680,275$1,061,242$4,089,656
94$6,532,510$1,695,161$1,029,346$4,394,623
95$7,129,255$1,708,652$994,257$4,728,907
96$7,784,675$1,720,612$955,801$5,095,505
97$8,504,688$1,730,898$913,797$5,497,725
98$9,295,811$1,739,357$868,053$5,939,214
99$10,165,222$1,745,824$818,372$6,423,994
100$11,120,833$1,750,128$764,546$6,956,501