Can I retire at age 74 with 542,000?

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 $542,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$44,758$44,359$43,970$43,591$43,220$41,686
2 years$22,157$21,745$21,345$20,957$20,581$19,052
3 years$14,625$14,210$13,811$13,427$13,057$11,582
4 years$10,859$10,446$10,051$9,674$9,313$7,901
5 years$8,601$8,190$7,800$7,430$7,079$5,736
6 years$7,095$6,688$6,304$5,942$5,602$4,327
7 years$6,020$5,616$5,238$4,885$4,556$3,350
8 years$5,215$4,814$4,443$4,098$3,779$2,641
9 years$4,588$4,192$3,826$3,491$3,183$2,110
10 years$4,088$3,695$3,336$3,009$2,712$1,704
11 years$3,678$3,289$2,937$2,619$2,332$1,386
12 years$3,337$2,952$2,606$2,297$2,021$1,135
13 years$3,049$2,668$2,329$2,028$1,762$934
14 years$2,802$2,425$2,092$1,800$1,545$772
15 years$2,588$2,215$1,889$1,605$1,360$640
16 years$2,401$2,033$1,713$1,437$1,202$532
17 years$2,237$1,872$1,559$1,292$1,066$443
18 years$2,090$1,730$1,423$1,164$948$369
19 years$1,960$1,603$1,302$1,052$845$309
20 years$1,842$1,490$1,195$953$755$258
21 years$1,736$1,388$1,099$864$675$216
22 years$1,640$1,295$1,013$786$605$181
23 years$1,552$1,211$936$716$543$152
24 years$1,471$1,135$865$653$488$128
25 years$1,397$1,065$801$596$439$107
26 years$1,329$1,001$743$545$396$90
27 years$1,266$942$690$499$357$76
28 years$1,208$888$642$457$322$64
29 years$1,154$837$597$419$291$53
30 years$1,103$791$556$385$263$45
31 years$1,056$748$519$353$238$38
32 years$1,012$707$484$325$215$32
33 years$971$670$452$299$194$27
34 years$932$635$422$275$176$22
35 years$895$602$395$253$159$19
36 years$861$572$369$233$144$16
37 years$828$543$345$215$131$13
38 years$798$516$324$198$119$11
39 years$769$491$303$182$108$9
40 years$741$467$284$168$98$8
41 years$715$444$266$155$89$7
42 years$690$423$250$143$80$6
43 years$666$403$234$132$73$5
44 years$644$384$220$122$66$4
45 years$623$367$207$113$60$3
46 years$602$350$194$104$55$3
47 years$583$334$182$96$50$2
48 years$564$319$171$89$45$2
49 years$546$304$161$82$41$2
50 years$529$291$151$76$37$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $542,000, adding $5,280 every year, while hoping to spend $50,898 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: 60/19/21 Blend
73$542,000$542,000$542,000$542,000
74$602,730$574,004$565,603$635,263
75$610,054$547,975$530,396$631,898
76$616,418$518,965$492,303$622,189
77$621,672$486,774$451,175$610,458
78$625,647$451,190$406,854$596,515
79$628,155$411,991$359,175$580,158
80$628,988$368,939$307,969$561,164
81$627,914$321,786$253,054$539,292
82$624,675$270,268$194,246$514,278
83$618,987$214,106$131,348$485,837
84$610,532$153,005$64,156$453,655
85$598,959$86,656$0$417,393
86$583,880$14,729$0$378,372
87$564,864$0$0$349,947
88$541,432$0$0$330,536
89$513,058$0$0$310,910
90$479,156$0$0$287,602
91$439,080$0$0$260,183
92$392,114$0$0$228,180
93$337,467$0$0$191,068
94$274,265$0$0$148,269
95$201,542$0$0$99,143
96$118,228$0$0$42,981
97$23,145$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0