Can I retire at age 74 with 591,000?

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 $591,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$48,804$48,370$47,945$47,531$47,127$46,519
2 years$24,161$23,711$23,274$22,852$22,442$21,830
3 years$15,947$15,495$15,060$14,641$14,238$13,641
4 years$11,841$11,391$10,960$10,548$10,155$9,578
5 years$9,378$8,930$8,505$8,102$7,719$7,164
6 years$7,737$7,292$6,874$6,479$6,108$5,575
7 years$6,565$6,124$5,712$5,327$4,967$4,457
8 years$5,686$5,249$4,844$4,469$4,121$3,633
9 years$5,003$4,571$4,172$3,806$3,470$3,005
10 years$4,457$4,029$3,638$3,281$2,957$2,513
11 years$4,011$3,587$3,202$2,856$2,543$2,121
12 years$3,639$3,219$2,842$2,505$2,204$1,803
13 years$3,324$2,909$2,539$2,211$1,922$1,541
14 years$3,055$2,644$2,281$1,963$1,685$1,324
15 years$2,822$2,416$2,060$1,751$1,483$1,142
16 years$2,618$2,216$1,868$1,567$1,311$988
17 years$2,439$2,041$1,699$1,408$1,162$857
18 years$2,279$1,886$1,551$1,269$1,034$746
19 years$2,137$1,748$1,420$1,147$921$650
20 years$2,009$1,624$1,303$1,039$823$568
21 years$1,893$1,513$1,199$943$736$497
22 years$1,788$1,412$1,105$857$660$435
23 years$1,692$1,321$1,020$781$592$382
24 years$1,604$1,238$944$712$533$335
25 years$1,524$1,161$874$650$479$294
26 years$1,449$1,092$810$594$432$259
27 years$1,381$1,027$753$544$389$228
28 years$1,317$968$700$499$351$200
29 years$1,258$913$651$457$317$177
30 years$1,203$862$606$420$286$156
31 years$1,152$815$565$385$259$137
32 years$1,103$771$528$354$234$121
33 years$1,058$731$493$326$212$107
34 years$1,016$692$460$300$192$94
35 years$976$657$430$276$174$83
36 years$939$623$402$254$158$73
37 years$903$592$377$234$143$65
38 years$870$563$353$216$129$57
39 years$838$535$331$199$117$51
40 years$808$509$310$183$106$45
41 years$779$485$290$169$97$39
42 years$752$461$272$156$88$35
43 years$727$440$256$144$80$31
44 years$702$419$240$133$72$27
45 years$679$400$225$123$66$24
46 years$657$381$212$114$60$21
47 years$635$364$199$105$54$19
48 years$615$347$187$97$49$17
49 years$596$332$176$90$45$15
50 years$577$317$165$83$40$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $591,000, adding $2,337 every year, while hoping to spend $49,514 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: 62/8/30 Blend
73$591,000$591,000$591,000$591,000
74$653,693$622,370$613,209$688,798
75$667,687$600,183$581,069$690,786
76$681,449$575,250$546,193$687,411
77$694,903$547,384$508,437$682,690
78$707,963$516,386$467,650$676,503
79$720,535$482,048$423,675$668,717
80$732,510$444,149$376,349$659,190
81$743,769$402,455$325,499$647,767
82$754,177$356,719$270,947$634,281
83$763,585$306,680$212,506$618,549
84$771,825$252,062$149,980$600,374
85$778,713$192,575$83,165$579,541
86$784,040$127,909$11,850$555,817
87$787,576$57,741$0$528,949
88$789,065$0$0$519,229
89$788,223$0$0$512,784
90$784,732$0$0$509,588
91$778,244$0$0$504,317
92$768,367$0$0$496,706
93$754,672$0$0$486,458
94$736,679$0$0$473,246
95$713,860$0$0$456,708
96$685,627$0$0$436,441
97$651,332$0$0$412,001
98$610,256$0$0$382,895
99$561,603$0$0$348,581
100$504,494$0$0$308,455