Can I retire at age 74 with 1,640,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$135,430$134,223$133,046$131,898$130,776$127,979
2 years$67,044$65,796$64,586$63,412$62,274$59,470
3 years$44,252$42,998$41,791$40,629$39,509$36,785
4 years$32,858$31,608$30,413$29,271$28,178$25,555
5 years$26,024$24,781$23,602$22,483$21,421$18,906
6 years$21,469$20,236$19,074$17,980$16,950$14,546
7 years$18,217$16,994$15,850$14,782$13,784$11,493
8 years$15,779$14,567$13,442$12,400$11,436$9,255
9 years$13,884$12,683$11,578$10,562$9,630$7,559
10 years$12,368$11,180$10,094$9,105$8,206$6,242
11 years$11,129$9,953$8,887$7,924$7,057$5,198
12 years$10,098$8,933$7,887$6,950$6,116$4,359
13 years$9,225$8,073$7,046$6,136$5,333$3,675
14 years$8,478$7,338$6,331$5,447$4,675$3,112
15 years$7,831$6,703$5,716$4,858$4,116$2,646
16 years$7,266$6,150$5,182$4,350$3,638$2,256
17 years$6,767$5,664$4,716$3,908$3,225$1,929
18 years$6,325$5,234$4,305$3,522$2,868$1,653
19 years$5,929$4,851$3,941$3,182$2,556$1,419
20 years$5,574$4,507$3,617$2,882$2,283$1,220
21 years$5,253$4,199$3,327$2,616$2,043$1,050
22 years$4,961$3,919$3,066$2,378$1,832$905
23 years$4,695$3,666$2,831$2,166$1,644$781
24 years$4,452$3,434$2,618$1,976$1,478$674
25 years$4,228$3,223$2,425$1,804$1,330$583
26 years$4,022$3,029$2,249$1,650$1,198$504
27 years$3,832$2,851$2,088$1,510$1,080$436
28 years$3,655$2,686$1,941$1,383$974$377
29 years$3,491$2,534$1,807$1,269$880$327
30 years$3,338$2,393$1,683$1,164$795$283
31 years$3,196$2,262$1,569$1,069$719$245
32 years$3,062$2,141$1,464$983$650$212
33 years$2,937$2,027$1,367$904$588$184
34 years$2,819$1,921$1,277$831$533$160
35 years$2,709$1,822$1,194$765$483$138
36 years$2,605$1,730$1,117$705$437$120
37 years$2,506$1,643$1,045$650$396$104
38 years$2,413$1,561$979$599$359$90
39 years$2,325$1,485$917$552$326$78
40 years$2,242$1,412$860$509$295$68
41 years$2,163$1,345$806$470$268$59
42 years$2,088$1,281$756$434$243$51
43 years$2,017$1,220$710$400$221$44
44 years$1,949$1,163$666$370$200$39
45 years$1,884$1,109$625$341$182$33
46 years$1,822$1,058$587$315$165$29
47 years$1,763$1,010$552$291$150$25
48 years$1,707$964$519$269$136$22
49 years$1,653$920$487$249$124$19
50 years$1,601$879$458$230$112$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,640,000, adding $4,017 every year, while hoping to spend $25,619 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: 37/34/29 Blend
73$1,640,000$1,640,000$1,640,000$1,640,000
74$1,811,424$1,724,504$1,699,084$1,862,626
75$1,968,930$1,781,746$1,728,744$1,958,167
76$2,141,644$1,840,934$1,758,540$2,058,685
77$2,331,089$1,902,137$1,788,449$2,166,779
78$2,538,944$1,965,426$1,818,445$2,283,151
79$2,767,057$2,030,873$1,848,505$2,408,574
80$3,017,467$2,098,555$1,878,599$2,543,897
81$3,292,415$2,168,551$1,908,698$2,690,055
82$3,594,373$2,240,942$1,938,772$2,848,075
83$3,926,065$2,315,814$1,968,786$3,019,086
84$4,290,489$2,393,254$1,998,706$3,204,334
85$4,690,948$2,473,353$2,028,493$3,405,186
86$5,131,084$2,556,206$2,058,106$3,623,148
87$5,614,906$2,641,912$2,087,504$3,859,878
88$6,146,832$2,730,571$2,116,641$4,117,200
89$6,731,730$2,822,290$2,145,469$4,397,121
90$7,374,961$2,917,177$2,173,937$4,701,852
91$8,082,435$3,015,346$2,201,992$5,033,826
92$8,860,661$3,116,916$2,229,576$5,395,724
93$9,716,811$3,222,008$2,256,630$5,790,494
94$10,658,788$3,330,748$2,283,089$6,221,385
95$11,695,299$3,443,269$2,308,887$6,691,975
96$12,835,937$3,559,707$2,333,952$7,206,203
97$14,091,273$3,680,203$2,358,211$7,768,406
98$15,472,955$3,804,905$2,381,583$8,383,363
99$16,993,817$3,933,966$2,403,985$9,056,336
100$18,667,998$4,067,542$2,425,331$9,793,122