Can I retire at age 74 with 640,000?

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 $640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$52,851$52,380$51,921$51,472$51,034$49,048
2 years$26,164$25,676$25,204$24,746$24,302$22,325
3 years$17,269$16,780$16,309$15,855$15,418$13,513
4 years$12,823$12,335$11,869$11,423$10,996$9,177
5 years$10,156$9,671$9,211$8,774$8,359$6,630
6 years$8,378$7,897$7,443$7,016$6,614$4,977
7 years$7,109$6,632$6,186$5,769$5,379$3,833
8 years$6,158$5,685$5,246$4,839$4,463$3,006
9 years$5,418$4,950$4,518$4,122$3,758$2,389
10 years$4,827$4,363$3,939$3,553$3,202$1,918
11 years$4,343$3,884$3,468$3,092$2,754$1,551
12 years$3,941$3,486$3,078$2,712$2,387$1,263
13 years$3,600$3,150$2,750$2,395$2,081$1,033
14 years$3,309$2,864$2,471$2,126$1,824$848
15 years$3,056$2,616$2,231$1,896$1,606$698
16 years$2,835$2,400$2,022$1,697$1,420$576
17 years$2,641$2,210$1,840$1,525$1,259$477
18 years$2,468$2,042$1,680$1,374$1,119$395
19 years$2,314$1,893$1,538$1,242$998$328
20 years$2,175$1,759$1,411$1,125$891$272
21 years$2,050$1,638$1,298$1,021$797$227
22 years$1,936$1,529$1,197$928$715$189
23 years$1,832$1,430$1,105$845$642$157
24 years$1,737$1,340$1,022$771$577$131
25 years$1,650$1,258$946$704$519$109
26 years$1,570$1,182$878$644$467$91
27 years$1,495$1,112$815$589$421$76
28 years$1,426$1,048$758$540$380$63
29 years$1,362$989$705$495$343$53
30 years$1,303$934$657$454$310$44
31 years$1,247$883$612$417$280$37
32 years$1,195$835$571$384$254$31
33 years$1,146$791$533$353$230$26
34 years$1,100$750$498$324$208$21
35 years$1,057$711$466$299$188$18
36 years$1,016$675$436$275$171$15
37 years$978$641$408$253$155$12
38 years$942$609$382$234$140$10
39 years$908$579$358$215$127$9
40 years$875$551$335$199$115$7
41 years$844$525$315$183$105$6
42 years$815$500$295$169$95$5
43 years$787$476$277$156$86$4
44 years$760$454$260$144$78$4
45 years$735$433$244$133$71$3
46 years$711$413$229$123$64$2
47 years$688$394$215$114$59$2
48 years$666$376$202$105$53$2
49 years$645$359$190$97$48$1
50 years$625$343$179$90$44$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $640,000, adding $3,671 every year, while hoping to spend $21,916 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: 29/47/24 Blend
73$640,000$640,000$640,000$640,000
74$709,067$675,147$665,227$724,244
75$758,073$684,910$664,193$746,107
76$811,343$694,418$662,391$767,416
77$869,290$703,634$659,770$789,874
78$932,365$712,520$656,280$813,595
79$1,001,068$721,035$651,867$838,703
80$1,075,947$729,136$646,475$865,340
81$1,157,606$736,776$640,044$893,660
82$1,246,710$743,905$632,513$923,837
83$1,343,989$750,472$623,818$956,061
84$1,450,249$756,418$613,889$990,546
85$1,566,377$761,685$602,657$1,027,528
86$1,693,349$766,209$590,047$1,067,269
87$1,832,238$769,921$575,981$1,110,059
88$1,984,229$772,749$560,379$1,156,221
89$2,150,623$774,617$543,154$1,206,112
90$2,332,855$775,442$524,219$1,260,129
91$2,532,505$775,137$503,479$1,318,710
92$2,751,314$773,612$480,838$1,382,342
93$2,991,196$770,767$456,195$1,451,564
94$3,254,263$766,499$429,442$1,526,973
95$3,542,838$760,698$400,469$1,609,229
96$3,859,482$753,247$369,159$1,699,066
97$4,207,015$744,022$335,392$1,797,292
98$4,588,543$732,892$299,040$1,904,804
99$5,007,488$719,717$259,971$2,022,596
100$5,467,619$704,351$218,048$2,151,763