Can I retire at age 74 with 623,000?

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 $623,000?

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$51,447$50,988$50,541$50,105$49,679$49,304
2 years$25,469$24,994$24,535$24,089$23,657$23,278
3 years$16,810$16,334$15,876$15,434$15,009$14,639
4 years$12,482$12,007$11,553$11,119$10,704$10,346
5 years$9,886$9,414$8,966$8,541$8,137$7,792
6 years$8,156$7,687$7,246$6,830$6,439$6,106
7 years$6,920$6,456$6,021$5,615$5,236$4,917
8 years$5,994$5,534$5,106$4,711$4,344$4,038
9 years$5,274$4,818$4,398$4,012$3,658$3,365
10 years$4,698$4,247$3,834$3,459$3,117$2,837
11 years$4,228$3,781$3,376$3,010$2,681$2,413
12 years$3,836$3,393$2,996$2,640$2,323$2,068
13 years$3,504$3,067$2,677$2,331$2,026$1,783
14 years$3,221$2,787$2,405$2,069$1,776$1,545
15 years$2,975$2,546$2,171$1,845$1,564$1,344
16 years$2,760$2,336$1,969$1,652$1,382$1,174
17 years$2,571$2,152$1,791$1,485$1,225$1,028
18 years$2,403$1,988$1,635$1,338$1,089$902
19 years$2,252$1,843$1,497$1,209$971$794
20 years$2,117$1,712$1,374$1,095$867$700
21 years$1,995$1,595$1,264$994$776$619
22 years$1,885$1,489$1,165$903$696$547
23 years$1,784$1,392$1,075$823$625$485
24 years$1,691$1,305$995$750$561$430
25 years$1,606$1,224$921$685$505$381
26 years$1,528$1,151$854$627$455$339
27 years$1,456$1,083$793$574$410$301
28 years$1,389$1,020$738$526$370$268
29 years$1,326$963$686$482$334$238
30 years$1,268$909$639$442$302$212
31 years$1,214$859$596$406$273$189
32 years$1,163$813$556$373$247$169
33 years$1,116$770$519$343$224$150
34 years$1,071$730$485$316$202$134
35 years$1,029$692$454$291$183$120
36 years$989$657$424$268$166$107
37 years$952$624$397$247$151$95
38 years$917$593$372$227$136$85
39 years$883$564$348$210$124$76
40 years$852$537$327$193$112$68
41 years$822$511$306$178$102$61
42 years$793$486$287$165$92$54
43 years$766$463$270$152$84$48
44 years$740$442$253$140$76$43
45 years$716$421$238$130$69$39
46 years$692$402$223$120$63$35
47 years$670$384$210$111$57$31
48 years$648$366$197$102$52$28
49 years$628$350$185$94$47$25
50 years$608$334$174$87$43$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $623,000, adding $3,037 every year, while hoping to spend $27,047 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: 73/16/11 Blend
73$623,000$623,000$623,000$623,000
74$689,679$656,660$647,003$738,318
75$731,248$660,058$639,900$774,265
76$776,151$662,717$631,652$809,975
77$824,699$664,571$622,193$848,346
78$877,235$665,551$611,453$889,635
79$934,134$665,584$599,358$934,124
80$995,810$664,592$585,831$982,125
81$1,062,720$662,494$570,793$1,033,980
82$1,135,362$659,201$554,159$1,090,067
83$1,214,287$654,620$535,842$1,150,805
84$1,300,100$648,653$515,749$1,216,653
85$1,393,469$641,195$493,785$1,288,118
86$1,495,125$632,135$469,849$1,365,761
87$1,605,874$621,357$443,835$1,450,198
88$1,726,605$608,735$415,636$1,542,110
89$1,858,294$594,138$385,134$1,642,247
90$2,002,015$577,427$352,212$1,751,438
91$2,158,953$558,453$316,743$1,870,596
92$2,330,410$537,060$278,598$2,000,726
93$2,517,819$513,083$237,638$2,142,941
94$2,722,760$486,348$193,722$2,298,464
95$2,946,970$456,668$146,701$2,468,646
96$3,192,365$423,848$96,419$2,654,976
97$3,461,051$387,682$42,714$2,859,097
98$3,755,349$347,949$0$3,082,820
99$4,077,816$304,420$0$3,329,856
100$4,431,267$256,850$0$3,606,156