Can I retire at age 74 with 1,550,000?

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 $1,550,000?

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$127,998$126,857$125,745$124,659$123,599$122,666
2 years$63,365$62,185$61,041$59,932$58,857$57,916
3 years$41,824$40,639$39,498$38,399$37,341$36,422
4 years$31,055$29,874$28,744$27,664$26,632$25,741
5 years$24,596$23,421$22,307$21,249$20,245$19,386
6 years$20,291$19,125$18,027$16,993$16,019$15,192
7 years$17,217$16,061$14,981$13,971$13,028$12,233
8 years$14,913$13,768$12,705$11,720$10,808$10,046
9 years$13,122$11,987$10,943$9,983$9,102$8,372
10 years$11,690$10,566$9,540$8,605$7,755$7,058
11 years$10,519$9,406$8,399$7,489$6,670$6,004
12 years$9,543$8,443$7,454$6,569$5,780$5,145
13 years$8,719$7,630$6,659$5,799$5,040$4,436
14 years$8,013$6,935$5,984$5,148$4,418$3,843
15 years$7,402$6,335$5,402$4,591$3,890$3,344
16 years$6,867$5,813$4,898$4,111$3,438$2,920
17 years$6,396$5,353$4,457$3,694$3,048$2,557
18 years$5,978$4,947$4,069$3,329$2,711$2,245
19 years$5,604$4,584$3,725$3,008$2,416$1,976
20 years$5,268$4,260$3,418$2,724$2,158$1,742
21 years$4,964$3,968$3,144$2,472$1,931$1,539
22 years$4,689$3,704$2,898$2,248$1,731$1,361
23 years$4,437$3,464$2,676$2,047$1,554$1,206
24 years$4,207$3,246$2,475$1,867$1,397$1,069
25 years$3,996$3,046$2,292$1,705$1,257$949
26 years$3,801$2,863$2,126$1,559$1,132$843
27 years$3,621$2,694$1,974$1,427$1,021$749
28 years$3,455$2,539$1,835$1,308$921$666
29 years$3,300$2,395$1,708$1,199$832$593
30 years$3,155$2,262$1,591$1,100$751$528
31 years$3,020$2,138$1,483$1,011$679$471
32 years$2,894$2,023$1,383$929$615$420
33 years$2,776$1,916$1,292$854$556$374
34 years$2,665$1,816$1,207$786$504$334
35 years$2,560$1,722$1,128$723$456$298
36 years$2,462$1,635$1,056$666$413$266
37 years$2,369$1,553$988$614$374$237
38 years$2,281$1,476$925$566$340$212
39 years$2,198$1,403$867$522$308$189
40 years$2,119$1,335$813$481$279$169
41 years$2,044$1,271$762$444$253$151
42 years$1,973$1,210$715$410$230$135
43 years$1,906$1,153$671$378$209$121
44 years$1,842$1,099$629$349$189$108
45 years$1,780$1,048$591$323$172$96
46 years$1,722$1,000$555$298$156$86
47 years$1,666$954$522$275$142$77
48 years$1,613$911$490$254$129$69
49 years$1,562$870$461$235$117$61
50 years$1,513$831$433$217$106$55

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,550,000, adding $4,639 every year, while hoping to spend $38,801 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: 66/24/10 Blend
73$1,550,000$1,550,000$1,550,000$1,550,000
74$1,712,885$1,630,735$1,606,710$1,822,029
75$1,846,315$1,669,357$1,619,251$1,933,892
76$1,992,055$1,708,571$1,630,911$2,051,076
77$2,151,319$1,748,365$1,641,621$2,178,148
78$2,325,444$1,788,726$1,651,306$2,316,069
79$2,515,903$1,829,637$1,659,888$2,465,898
80$2,724,316$1,871,080$1,667,285$2,628,800
81$2,952,468$1,913,035$1,673,412$2,806,061
82$3,202,326$1,955,480$1,678,177$2,999,095
83$3,476,054$1,998,389$1,681,486$3,209,461
84$3,776,035$2,041,734$1,683,240$3,438,874
85$4,104,895$2,085,483$1,683,333$3,689,226
86$4,465,526$2,129,603$1,681,656$3,962,601
87$4,861,111$2,174,056$1,678,093$4,261,292
88$5,295,160$2,218,800$1,672,525$4,587,829
89$5,771,535$2,263,790$1,664,823$4,944,998
90$6,294,493$2,308,977$1,654,856$5,335,867
91$6,868,722$2,354,308$1,642,485$5,763,820
92$7,499,387$2,399,723$1,627,563$6,232,583
93$8,192,176$2,445,161$1,609,938$6,746,261
94$8,953,356$2,490,553$1,589,449$7,309,381
95$9,789,833$2,535,825$1,565,930$7,926,927
96$10,709,213$2,580,896$1,539,205$8,604,395
97$11,719,874$2,625,682$1,509,091$9,347,838
98$12,831,051$2,670,090$1,475,395$10,163,929
99$14,052,913$2,714,020$1,437,916$11,060,019
100$15,396,668$2,757,365$1,396,444$12,044,211