Can I retire at age 74 with 608,000?

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 $608,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$50,208$49,761$49,325$48,899$48,483$47,719
2 years$24,855$24,393$23,944$23,509$23,087$22,319
3 years$16,406$15,941$15,493$15,062$14,647$13,900
4 years$12,182$11,718$11,275$10,852$10,447$9,725
5 years$9,648$9,187$8,750$8,335$7,941$7,248
6 years$7,959$7,502$7,071$6,666$6,284$5,619
7 years$6,754$6,300$5,876$5,480$5,110$4,475
8 years$5,850$5,400$4,984$4,597$4,240$3,633
9 years$5,147$4,702$4,292$3,916$3,570$2,992
10 years$4,585$4,145$3,742$3,375$3,042$2,492
11 years$4,126$3,690$3,295$2,938$2,616$2,094
12 years$3,743$3,312$2,924$2,577$2,267$1,771
13 years$3,420$2,993$2,612$2,275$1,977$1,507
14 years$3,143$2,720$2,347$2,019$1,733$1,289
15 years$2,903$2,485$2,119$1,801$1,526$1,106
16 years$2,694$2,280$1,921$1,613$1,349$953
17 years$2,509$2,100$1,748$1,449$1,196$823
18 years$2,345$1,940$1,596$1,306$1,063$712
19 years$2,198$1,798$1,461$1,180$948$618
20 years$2,066$1,671$1,341$1,069$846$537
21 years$1,947$1,557$1,233$970$758$467
22 years$1,839$1,453$1,137$882$679$407
23 years$1,741$1,359$1,050$803$610$355
24 years$1,650$1,273$971$732$548$310
25 years$1,568$1,195$899$669$493$271
26 years$1,491$1,123$834$612$444$237
27 years$1,421$1,057$774$560$400$207
28 years$1,355$996$720$513$361$181
29 years$1,294$939$670$470$326$159
30 years$1,238$887$624$432$295$139
31 years$1,185$839$582$396$266$122
32 years$1,135$794$543$364$241$107
33 years$1,089$752$507$335$218$94
34 years$1,045$712$473$308$198$82
35 years$1,004$676$443$284$179$72
36 years$966$641$414$261$162$63
37 years$929$609$388$241$147$56
38 years$895$579$363$222$133$49
39 years$862$550$340$205$121$43
40 years$831$524$319$189$110$38
41 years$802$498$299$174$99$33
42 years$774$475$280$161$90$29
43 years$748$452$263$148$82$25
44 years$722$431$247$137$74$22
45 years$698$411$232$127$67$20
46 years$675$392$218$117$61$17
47 years$654$374$205$108$56$15
48 years$633$357$192$100$50$13
49 years$613$341$181$92$46$12
50 years$594$326$170$85$42$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $608,000, adding $4,163 every year, while hoping to spend $30,096 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: 69/9/22 Blend
73$608,000$608,000$608,000$608,000
74$674,310$642,086$632,662$716,847
75$711,068$641,526$621,834$745,266
76$750,566$639,931$609,635$772,458
77$793,053$637,216$595,987$801,490
78$838,800$633,295$580,808$832,542
79$888,106$628,076$564,014$865,813
80$941,300$621,458$545,515$901,523
81$998,741$613,338$525,219$939,916
82$1,060,827$603,606$503,027$981,260
83$1,127,992$592,143$478,839$1,025,852
84$1,200,715$578,826$452,548$1,074,020
85$1,279,522$563,523$424,043$1,126,127
86$1,364,992$546,094$393,208$1,182,574
87$1,457,761$526,393$359,920$1,243,801
88$1,558,530$504,263$324,054$1,310,300
89$1,668,067$479,539$285,477$1,382,608
90$1,787,219$452,046$244,050$1,461,323
91$1,916,919$421,600$199,630$1,547,102
92$2,058,192$388,006$152,064$1,640,672
93$2,212,166$351,056$101,196$1,742,837
94$2,380,082$310,533$46,862$1,854,482
95$2,563,307$266,206$0$1,976,585
96$2,763,346$217,831$0$2,112,839
97$2,981,853$165,151$0$2,273,734
98$3,220,653$107,894$0$2,449,617
99$3,481,752$45,774$0$2,641,988
100$3,767,360$0$0$2,852,497