Can I retire at age 74 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$100,746$99,849$98,974$98,119$97,285$96,229
2 years$49,874$48,946$48,045$47,173$46,326$45,263
3 years$32,919$31,987$31,089$30,224$29,391$28,354
4 years$24,443$23,513$22,625$21,775$20,962$19,958
5 years$19,359$18,435$17,558$16,725$15,935$14,968
6 years$15,971$15,053$14,189$13,375$12,609$11,680
7 years$13,552$12,642$11,791$10,996$10,254$9,363
8 years$11,738$10,836$10,000$9,225$8,507$7,654
9 years$10,328$9,435$8,613$7,857$7,164$6,349
10 years$9,201$8,317$7,509$6,773$6,104$5,327
11 years$8,279$7,404$6,611$5,895$5,250$4,509
12 years$7,512$6,645$5,867$5,170$4,549$3,844
13 years$6,863$6,005$5,242$4,565$3,967$3,297
14 years$6,307$5,459$4,710$4,052$3,478$2,842
15 years$5,826$4,987$4,252$3,614$3,062$2,459
16 years$5,405$4,575$3,855$3,236$2,706$2,136
17 years$5,034$4,213$3,508$2,907$2,399$1,860
18 years$4,705$3,893$3,202$2,620$2,133$1,624
19 years$4,411$3,608$2,932$2,367$1,902$1,421
20 years$4,146$3,353$2,691$2,144$1,699$1,246
21 years$3,907$3,123$2,475$1,946$1,520$1,094
22 years$3,690$2,915$2,281$1,769$1,362$962
23 years$3,493$2,727$2,106$1,611$1,223$846
24 years$3,312$2,555$1,948$1,470$1,099$746
25 years$3,145$2,398$1,804$1,342$989$658
26 years$2,992$2,253$1,673$1,227$891$581
27 years$2,850$2,121$1,554$1,123$803$513
28 years$2,719$1,998$1,444$1,029$725$453
29 years$2,597$1,885$1,344$944$655$401
30 years$2,483$1,780$1,252$866$591$355
31 years$2,377$1,683$1,167$795$535$314
32 years$2,278$1,592$1,089$731$484$278
33 years$2,185$1,508$1,017$672$438$246
34 years$2,097$1,429$950$619$396$218
35 years$2,015$1,356$888$569$359$194
36 years$1,938$1,287$831$524$325$172
37 years$1,864$1,222$778$483$295$152
38 years$1,795$1,161$728$445$267$135
39 years$1,730$1,104$682$411$242$120
40 years$1,668$1,051$640$379$220$106
41 years$1,609$1,000$600$349$199$94
42 years$1,553$953$563$323$181$84
43 years$1,500$908$528$298$164$74
44 years$1,450$865$495$275$149$66
45 years$1,401$825$465$254$135$58
46 years$1,355$787$437$234$123$52
47 years$1,312$751$411$217$112$46
48 years$1,270$717$386$200$101$41
49 years$1,230$685$363$185$92$36
50 years$1,191$654$341$171$84$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,220,000, adding $4,737 every year, while hoping to spend $58,083 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: 36/35/29 Blend
73$1,220,000$1,220,000$1,220,000$1,220,000
74$1,349,326$1,284,666$1,265,756$1,386,025
75$1,425,158$1,285,815$1,246,359$1,414,958
76$1,506,777$1,285,073$1,224,366$1,440,597
77$1,594,714$1,282,287$1,199,627$1,467,174
78$1,689,549$1,277,294$1,171,989$1,494,812
79$1,791,920$1,269,919$1,141,288$1,523,651
80$1,902,530$1,259,979$1,107,355$1,553,853
81$2,022,149$1,247,278$1,070,012$1,585,597
82$2,151,624$1,231,610$1,029,073$1,619,089
83$2,291,886$1,212,756$984,344$1,654,560
84$2,443,961$1,190,484$935,622$1,692,269
85$2,608,974$1,164,546$882,694$1,732,510
86$2,788,163$1,134,683$825,339$1,775,612
87$2,982,892$1,100,618$763,323$1,821,946
88$3,194,658$1,062,060$696,406$1,871,924
89$3,425,112$1,018,699$624,334$1,926,014
90$3,676,066$970,208$546,842$1,984,735
91$3,949,518$916,242$463,655$2,048,669
92$4,247,664$856,433$374,483$2,118,469
93$4,572,924$790,396$279,025$2,194,860
94$4,927,957$717,721$176,968$2,278,654
95$5,315,695$637,976$67,983$2,370,758
96$5,739,362$550,703$0$2,472,179
97$6,202,510$455,420$0$2,598,996
98$6,709,047$351,617$0$2,760,929
99$7,263,279$238,754$0$2,938,428
100$7,869,944$116,264$0$3,133,164