Can I retire at age 74 with 558,000?

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 $558,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$46,079$45,669$45,268$44,877$44,496$44,049
2 years$22,811$22,387$21,975$21,576$21,188$20,739
3 years$15,057$14,630$14,219$13,824$13,443$13,004
4 years$11,180$10,755$10,348$9,959$9,588$9,163
5 years$8,854$8,432$8,030$7,650$7,288$6,879
6 years$7,305$6,885$6,490$6,117$5,767$5,373
7 years$6,198$5,782$5,393$5,030$4,690$4,313
8 years$5,369$4,956$4,574$4,219$3,891$3,529
9 years$4,724$4,315$3,939$3,594$3,277$2,931
10 years$4,208$3,804$3,434$3,098$2,792$2,462
11 years$3,787$3,386$3,024$2,696$2,401$2,087
12 years$3,436$3,039$2,683$2,365$2,081$1,781
13 years$3,139$2,747$2,397$2,088$1,814$1,530
14 years$2,885$2,497$2,154$1,853$1,591$1,320
15 years$2,665$2,281$1,945$1,653$1,400$1,144
16 years$2,472$2,093$1,763$1,480$1,238$995
17 years$2,303$1,927$1,605$1,330$1,097$868
18 years$2,152$1,781$1,465$1,198$976$759
19 years$2,017$1,650$1,341$1,083$870$665
20 years$1,896$1,534$1,231$981$777$584
21 years$1,787$1,429$1,132$890$695$513
22 years$1,688$1,333$1,043$809$623$452
23 years$1,597$1,247$963$737$559$398
24 years$1,515$1,169$891$672$503$352
25 years$1,439$1,097$825$614$452$311
26 years$1,369$1,031$765$561$408$275
27 years$1,304$970$711$514$367$243
28 years$1,244$914$661$471$332$215
29 years$1,188$862$615$432$299$191
30 years$1,136$814$573$396$271$169
31 years$1,087$770$534$364$245$150
32 years$1,042$728$498$334$221$133
33 years$999$690$465$307$200$118
34 years$959$654$435$283$181$105
35 years$922$620$406$260$164$93
36 years$886$589$380$240$149$82
37 years$853$559$356$221$135$73
38 years$821$531$333$204$122$65
39 years$791$505$312$188$111$58
40 years$763$481$293$173$101$51
41 years$736$457$274$160$91$46
42 years$710$436$257$148$83$41
43 years$686$415$241$136$75$36
44 years$663$396$227$126$68$32
45 years$641$377$213$116$62$29
46 years$620$360$200$107$56$25
47 years$600$344$188$99$51$23
48 years$581$328$176$92$46$20
49 years$562$313$166$85$42$18
50 years$545$299$156$78$38$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $558,000, adding $3,350 every year, while hoping to spend $34,500 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: 54/39/7 Blend
73$558,000$558,000$558,000$558,000
74$618,372$588,798$580,149$650,570
75$644,738$580,941$562,876$664,870
76$672,637$571,543$543,868$676,341
77$702,189$560,492$523,031$687,989
78$733,525$547,669$500,265$699,838
79$766,789$532,949$475,468$711,914
80$802,136$516,198$448,531$724,247
81$839,739$497,276$419,342$736,874
82$879,784$476,035$387,782$749,837
83$922,477$452,316$353,728$763,186
84$968,043$425,952$317,051$776,976
85$1,016,728$396,769$277,617$791,272
86$1,068,803$364,579$235,285$806,149
87$1,124,562$329,184$189,908$821,692
88$1,184,331$290,378$141,334$837,998
89$1,248,467$247,940$89,402$855,177
90$1,317,359$201,638$33,946$873,355
91$1,391,437$151,225$0$892,675
92$1,471,171$96,443$0$915,181
93$1,557,079$37,018$0$942,000
94$1,649,730$0$0$970,813
95$1,749,746$0$0$1,013,601
96$1,857,814$0$0$1,077,039
97$1,974,687$0$0$1,145,690
98$2,101,193$0$0$1,220,045
99$2,238,243$0$0$1,300,645
100$2,386,839$0$0$1,388,086