Can I retire at age 74 with 505,000?

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 $505,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$41,702$41,331$40,969$40,615$40,269$39,392
2 years$20,645$20,260$19,888$19,526$19,176$18,296
3 years$13,626$13,240$12,869$12,511$12,166$11,312
4 years$10,118$9,733$9,365$9,013$8,677$7,854
5 years$8,013$7,631$7,268$6,923$6,596$5,808
6 years$6,611$6,231$5,873$5,536$5,219$4,466
7 years$5,609$5,233$4,881$4,552$4,245$3,527
8 years$4,859$4,486$4,139$3,818$3,521$2,838
9 years$4,275$3,905$3,565$3,252$2,965$2,317
10 years$3,809$3,442$3,108$2,804$2,527$1,912
11 years$3,427$3,065$2,736$2,440$2,173$1,591
12 years$3,109$2,751$2,428$2,140$1,883$1,333
13 years$2,841$2,486$2,170$1,889$1,642$1,123
14 years$2,611$2,260$1,949$1,677$1,439$951
15 years$2,411$2,064$1,760$1,496$1,267$808
16 years$2,237$1,894$1,596$1,339$1,120$688
17 years$2,084$1,744$1,452$1,203$993$588
18 years$1,948$1,612$1,326$1,085$883$504
19 years$1,826$1,494$1,214$980$787$432
20 years$1,716$1,388$1,114$888$703$371
21 years$1,617$1,293$1,024$805$629$319
22 years$1,528$1,207$944$732$564$275
23 years$1,446$1,129$872$667$506$237
24 years$1,371$1,058$806$608$455$204
25 years$1,302$992$747$556$409$177
26 years$1,239$933$693$508$369$153
27 years$1,180$878$643$465$333$132
28 years$1,126$827$598$426$300$114
29 years$1,075$780$556$391$271$99
30 years$1,028$737$518$359$245$85
31 years$984$697$483$329$221$74
32 years$943$659$451$303$200$64
33 years$904$624$421$278$181$55
34 years$868$592$393$256$164$48
35 years$834$561$368$236$149$42
36 years$802$533$344$217$135$36
37 years$772$506$322$200$122$31
38 years$743$481$301$184$111$27
39 years$716$457$282$170$100$23
40 years$690$435$265$157$91$20
41 years$666$414$248$145$83$18
42 years$643$394$233$133$75$15
43 years$621$376$218$123$68$13
44 years$600$358$205$114$62$11
45 years$580$341$193$105$56$10
46 years$561$326$181$97$51$9
47 years$543$311$170$90$46$7
48 years$526$297$160$83$42$6
49 years$509$283$150$77$38$6
50 years$493$271$141$71$35$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $505,000, adding $5,398 every year, while hoping to spend $34,648 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: 54/19/27 Blend
73$505,000$505,000$505,000$505,000
74$562,078$535,313$527,486$587,958
75$582,545$524,678$508,291$595,778
76$603,938$512,361$487,292$600,279
77$626,315$498,242$464,392$604,479
78$649,740$482,196$439,490$608,362
79$674,279$464,090$412,478$611,912
80$700,006$443,781$383,247$615,114
81$727,002$421,121$351,681$617,954
82$755,352$395,952$317,659$620,417
83$785,151$368,108$281,054$622,492
84$816,502$337,410$241,734$624,167
85$849,515$303,673$199,562$625,433
86$884,312$266,700$154,394$626,283
87$921,025$226,281$106,079$626,712
88$959,798$182,197$54,461$626,719
89$1,000,788$134,215$0$626,304
90$1,044,166$82,089$0$625,654
91$1,090,119$25,560$0$641,353
92$1,138,853$0$0$657,762
93$1,190,590$0$0$682,409
94$1,245,574$0$0$714,307
95$1,304,074$0$0$748,271
96$1,366,381$0$0$784,475
97$1,432,816$0$0$823,107
98$1,503,730$0$0$864,376
99$1,579,508$0$0$908,510
100$1,660,570$0$0$955,759