Can I retire at age 74 with 595,000?

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 $595,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$49,135$48,697$48,270$47,853$47,446$47,088
2 years$24,324$23,871$23,432$23,006$22,593$22,232
3 years$16,055$15,600$15,162$14,740$14,334$13,981
4 years$11,921$11,468$11,034$10,620$10,223$9,881
5 years$9,442$8,991$8,563$8,157$7,772$7,442
6 years$7,789$7,342$6,920$6,523$6,149$5,832
7 years$6,609$6,165$5,751$5,363$5,001$4,696
8 years$5,725$5,285$4,877$4,499$4,149$3,856
9 years$5,037$4,602$4,201$3,832$3,494$3,214
10 years$4,487$4,056$3,662$3,303$2,977$2,709
11 years$4,038$3,611$3,224$2,875$2,560$2,305
12 years$3,663$3,241$2,861$2,522$2,219$1,975
13 years$3,347$2,929$2,556$2,226$1,935$1,703
14 years$3,076$2,662$2,297$1,976$1,696$1,475
15 years$2,841$2,432$2,074$1,762$1,493$1,284
16 years$2,636$2,231$1,880$1,578$1,320$1,121
17 years$2,455$2,055$1,711$1,418$1,170$982
18 years$2,295$1,899$1,562$1,278$1,041$862
19 years$2,151$1,760$1,430$1,155$927$759
20 years$2,022$1,635$1,312$1,046$828$669
21 years$1,906$1,523$1,207$949$741$591
22 years$1,800$1,422$1,112$863$664$523
23 years$1,703$1,330$1,027$786$596$463
24 years$1,615$1,246$950$717$536$410
25 years$1,534$1,169$880$655$482$364
26 years$1,459$1,099$816$599$435$324
27 years$1,390$1,034$758$548$392$288
28 years$1,326$975$704$502$354$256
29 years$1,267$919$655$460$319$228
30 years$1,211$868$611$422$288$203
31 years$1,159$821$569$388$261$181
32 years$1,111$777$531$357$236$161
33 years$1,066$735$496$328$213$144
34 years$1,023$697$463$302$193$128
35 years$983$661$433$278$175$114
36 years$945$628$405$256$159$102
37 years$909$596$379$236$144$91
38 years$876$566$355$217$130$81
39 years$844$539$333$200$118$73
40 years$813$512$312$185$107$65
41 years$785$488$292$170$97$58
42 years$758$465$274$157$88$52
43 years$732$443$257$145$80$46
44 years$707$422$242$134$73$41
45 years$683$402$227$124$66$37
46 years$661$384$213$114$60$33
47 years$640$366$200$106$54$30
48 years$619$350$188$98$49$26
49 years$600$334$177$90$45$24
50 years$581$319$166$83$41$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $595,000, adding $2,106 every year, while hoping to spend $24,012 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: 46/27/27 Blend
73$595,000$595,000$595,000$595,000
74$657,862$626,327$617,105$682,928
75$699,416$631,469$612,229$706,006
76$744,403$636,057$606,386$728,536
77$793,148$640,041$599,516$752,514
78$846,010$643,363$591,560$778,091
79$903,380$645,965$582,454$805,430
80$965,690$647,783$572,132$834,714
81$1,033,417$648,750$560,525$866,146
82$1,107,082$648,796$547,559$899,951
83$1,187,261$647,844$533,159$936,376
84$1,274,587$645,813$517,246$975,699
85$1,369,757$642,620$499,735$1,018,226
86$1,473,536$638,172$480,540$1,064,293
87$1,586,769$632,375$459,570$1,114,278
88$1,710,384$625,126$436,730$1,168,595
89$1,845,403$616,317$411,921$1,227,705
90$1,992,952$605,834$385,038$1,292,116
91$2,154,269$593,556$355,973$1,362,391
92$2,330,719$579,355$324,613$1,439,155
93$2,523,803$563,094$290,838$1,523,098
94$2,735,176$544,630$254,525$1,614,982
95$2,966,657$523,811$215,546$1,715,651
96$3,220,254$500,475$173,764$1,826,039
97$3,498,173$474,452$129,038$1,947,178
98$3,802,848$445,561$81,223$2,080,209
99$4,136,958$413,613$30,163$2,226,392
100$4,503,452$378,405$0$2,387,123