Can I retire at age 74 with 614,000?

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 $614,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$50,704$50,252$49,811$49,381$48,961$47,973
2 years$25,101$24,633$24,180$23,741$23,315$22,323
3 years$16,568$16,098$15,646$15,211$14,792$13,828
4 years$12,302$11,834$11,386$10,959$10,550$9,621
5 years$9,743$9,278$8,836$8,417$8,020$7,129
6 years$8,038$7,576$7,141$6,731$6,346$5,494
7 years$6,820$6,362$5,934$5,534$5,161$4,348
8 years$5,907$5,454$5,033$4,643$4,281$3,508
9 years$5,198$4,748$4,335$3,954$3,606$2,870
10 years$4,631$4,186$3,779$3,409$3,072$2,374
11 years$4,167$3,726$3,327$2,967$2,642$1,981
12 years$3,780$3,344$2,953$2,602$2,290$1,664
13 years$3,454$3,022$2,638$2,297$1,997$1,406
14 years$3,174$2,747$2,370$2,039$1,750$1,193
15 years$2,932$2,510$2,140$1,819$1,541$1,017
16 years$2,720$2,303$1,940$1,628$1,362$869
17 years$2,534$2,121$1,766$1,463$1,208$744
18 years$2,368$1,959$1,612$1,319$1,074$639
19 years$2,220$1,816$1,475$1,191$957$550
20 years$2,087$1,688$1,354$1,079$855$474
21 years$1,967$1,572$1,246$979$765$409
22 years$1,857$1,467$1,148$890$686$353
23 years$1,758$1,372$1,060$811$616$305
24 years$1,667$1,286$980$740$553$264
25 years$1,583$1,207$908$675$498$229
26 years$1,506$1,134$842$618$448$198
27 years$1,435$1,067$782$565$404$172
28 years$1,368$1,006$727$518$365$149
29 years$1,307$949$676$475$329$130
30 years$1,250$896$630$436$298$113
31 years$1,196$847$587$400$269$98
32 years$1,146$801$548$368$243$85
33 years$1,100$759$512$338$220$74
34 years$1,056$719$478$311$199$64
35 years$1,014$682$447$287$181$56
36 years$975$648$418$264$164$48
37 years$938$615$391$243$148$42
38 years$904$585$367$224$134$37
39 years$871$556$343$207$122$32
40 years$839$529$322$191$111$28
41 years$810$503$302$176$100$24
42 years$782$479$283$162$91$21
43 years$755$457$266$150$83$18
44 years$730$435$249$138$75$16
45 years$705$415$234$128$68$14
46 years$682$396$220$118$62$12
47 years$660$378$207$109$56$10
48 years$639$361$194$101$51$9
49 years$619$345$182$93$46$8
50 years$599$329$172$86$42$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $614,000, adding $2,950 every year, while hoping to spend $58,065 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: 63/9/28 Blend
73$614,000$614,000$614,000$614,000
74$679,671$647,129$637,612$717,238
75$687,217$617,058$597,191$713,001
76$693,586$583,567$553,470$701,761
77$698,598$546,427$506,277$688,234
78$702,050$505,397$455,433$672,205
79$703,718$460,221$400,749$653,440
80$703,353$410,628$342,030$631,685
81$700,679$356,332$279,072$606,661
82$695,388$297,032$211,661$578,064
83$687,139$232,408$139,573$545,564
84$675,555$162,124$62,576$508,800
85$660,216$85,823$0$467,376
86$640,659$3,129$0$426,715
87$616,370$0$0$400,826
88$586,780$0$0$379,109
89$551,260$0$0$353,558
90$509,112$0$0$323,378
91$459,566$0$0$288,033
92$401,770$0$0$246,930
93$334,781$0$0$199,415
94$257,559$0$0$144,762
95$168,951$0$0$82,173
96$67,688$0$0$10,764
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0