Can I retire at age 74 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$110,656$109,670$108,709$107,770$106,853$105,431
2 years$54,780$53,760$52,771$51,813$50,883$49,452
3 years$36,157$35,133$34,146$33,197$32,282$30,887
4 years$26,848$25,826$24,850$23,916$23,024$21,676
5 years$21,263$20,248$19,285$18,370$17,502$16,205
6 years$17,542$16,534$15,585$14,691$13,849$12,604
7 years$14,885$13,885$12,951$12,078$11,263$10,071
8 years$12,893$11,902$10,983$10,132$9,344$8,204
9 years$11,344$10,363$9,460$8,630$7,869$6,781
10 years$10,106$9,135$8,248$7,439$6,705$5,668
11 years$9,093$8,132$7,261$6,474$5,766$4,780
12 years$8,250$7,299$6,444$5,679$4,997$4,060
13 years$7,538$6,596$5,757$5,014$4,357$3,469
14 years$6,927$5,996$5,173$4,451$3,820$2,978
15 years$6,399$5,477$4,670$3,969$3,363$2,567
16 years$5,937$5,025$4,234$3,554$2,972$2,220
17 years$5,529$4,628$3,853$3,193$2,635$1,925
18 years$5,168$4,276$3,517$2,878$2,343$1,673
19 years$4,845$3,963$3,220$2,600$2,089$1,458
20 years$4,554$3,683$2,955$2,355$1,866$1,272
21 years$4,292$3,430$2,718$2,137$1,670$1,112
22 years$4,053$3,202$2,505$1,943$1,496$973
23 years$3,836$2,995$2,313$1,770$1,343$853
24 years$3,637$2,806$2,139$1,614$1,207$748
25 years$3,455$2,633$1,981$1,474$1,086$657
26 years$3,286$2,475$1,838$1,348$979$577
27 years$3,131$2,329$1,706$1,234$882$507
28 years$2,987$2,195$1,586$1,130$796$446
29 years$2,853$2,071$1,476$1,037$719$393
30 years$2,728$1,955$1,375$951$650$346
31 years$2,611$1,849$1,282$874$587$305
32 years$2,502$1,749$1,196$803$531$268
33 years$2,400$1,656$1,117$738$481$237
34 years$2,304$1,570$1,043$679$435$209
35 years$2,213$1,489$976$625$394$184
36 years$2,128$1,413$913$576$357$162
37 years$2,048$1,342$854$531$324$143
38 years$1,972$1,276$800$489$294$126
39 years$1,900$1,213$749$451$266$111
40 years$1,832$1,154$702$416$241$98
41 years$1,767$1,099$659$384$219$87
42 years$1,706$1,046$618$354$199$77
43 years$1,648$997$580$327$180$68
44 years$1,592$950$544$302$164$60
45 years$1,539$906$511$279$149$53
46 years$1,489$864$480$258$135$47
47 years$1,441$825$451$238$123$41
48 years$1,394$788$424$220$111$36
49 years$1,350$752$398$203$101$32
50 years$1,308$718$374$188$92$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,340,000, adding $6,043 every year, while hoping to spend $54,453 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: 53/41/6 Blend
73$1,340,000$1,340,000$1,340,000$1,340,000
74$1,482,913$1,411,893$1,391,123$1,559,140
75$1,576,233$1,423,139$1,379,788$1,622,665
76$1,677,246$1,433,110$1,366,249$1,685,251
77$1,786,680$1,441,687$1,350,373$1,752,015
78$1,905,335$1,448,743$1,332,023$1,823,361
79$2,034,089$1,454,141$1,311,056$1,899,735
80$2,173,910$1,457,738$1,287,321$1,981,632
81$2,325,861$1,459,380$1,260,659$2,069,596
82$2,491,114$1,458,904$1,230,905$2,164,231
83$2,670,954$1,456,137$1,197,888$2,266,204
84$2,866,800$1,450,896$1,161,425$2,376,252
85$3,080,209$1,442,985$1,121,328$2,495,191
86$3,312,897$1,432,198$1,077,399$2,623,921
87$3,566,752$1,418,316$1,029,432$2,763,438
88$3,843,852$1,401,105$977,209$2,914,842
89$4,146,485$1,380,320$920,506$3,079,350
90$4,477,170$1,355,699$859,087$3,258,307
91$4,838,678$1,326,965$792,703$3,453,196
92$5,234,063$1,293,825$721,098$3,665,659
93$5,666,685$1,255,970$644,002$3,897,510
94$6,140,245$1,213,071$561,134$4,150,751
95$6,658,817$1,164,779$472,200$4,427,595
96$7,226,891$1,110,728$376,893$4,730,485
97$7,849,408$1,050,527$274,893$5,062,123
98$8,531,811$983,766$165,865$5,425,488
99$9,280,094$910,010$49,460$5,823,874
100$10,100,861$828,797$0$6,260,916