Can I retire at age 74 with 656,000?

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 $656,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$54,172$53,689$53,219$52,759$52,310$51,764
2 years$26,818$26,318$25,834$25,365$24,910$24,360
3 years$17,701$17,199$16,716$16,252$15,804$15,267
4 years$13,143$12,643$12,165$11,708$11,271$10,752
5 years$10,410$9,913$9,441$8,993$8,568$8,068
6 years$8,588$8,094$7,630$7,192$6,780$6,299
7 years$7,287$6,798$6,340$5,913$5,514$5,052
8 years$6,312$5,827$5,377$4,960$4,574$4,132
9 years$5,553$5,073$4,631$4,225$3,852$3,430
10 years$4,947$4,472$4,038$3,642$3,282$2,879
11 years$4,452$3,981$3,555$3,170$2,823$2,439
12 years$4,039$3,573$3,155$2,780$2,446$2,081
13 years$3,690$3,229$2,818$2,454$2,133$1,786
14 years$3,391$2,935$2,532$2,179$1,870$1,540
15 years$3,133$2,681$2,286$1,943$1,646$1,334
16 years$2,906$2,460$2,073$1,740$1,455$1,159
17 years$2,707$2,266$1,886$1,563$1,290$1,010
18 years$2,530$2,094$1,722$1,409$1,147$883
19 years$2,372$1,940$1,576$1,273$1,023$773
20 years$2,230$1,803$1,447$1,153$913$678
21 years$2,101$1,679$1,331$1,046$817$596
22 years$1,984$1,568$1,226$951$733$524
23 years$1,878$1,466$1,132$866$658$462
24 years$1,781$1,374$1,047$790$591$407
25 years$1,691$1,289$970$722$532$359
26 years$1,609$1,212$900$660$479$318
27 years$1,533$1,140$835$604$432$281
28 years$1,462$1,074$777$553$390$248
29 years$1,396$1,014$723$507$352$220
30 years$1,335$957$673$466$318$195
31 years$1,278$905$628$428$288$172
32 years$1,225$856$586$393$260$153
33 years$1,175$811$547$361$235$135
34 years$1,128$769$511$333$213$120
35 years$1,084$729$478$306$193$107
36 years$1,042$692$447$282$175$95
37 years$1,003$657$418$260$158$84
38 years$965$625$392$239$144$74
39 years$930$594$367$221$130$66
40 years$897$565$344$204$118$59
41 years$865$538$322$188$107$52
42 years$835$512$302$173$97$46
43 years$807$488$284$160$88$41
44 years$779$465$266$148$80$37
45 years$754$444$250$137$73$32
46 years$729$423$235$126$66$29
47 years$705$404$221$116$60$26
48 years$683$386$207$108$54$23
49 years$661$368$195$99$49$20
50 years$640$352$183$92$45$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $656,000, adding $2,686 every year, while hoping to spend $21,699 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: 53/37/10 Blend
73$656,000$656,000$656,000$656,000
74$725,683$690,915$680,747$762,153
75$776,615$701,682$680,464$798,003
76$832,015$712,249$679,445$834,411
77$892,315$722,585$677,641$873,512
78$957,992$732,653$675,003$915,565
79$1,029,571$742,416$671,479$960,857
80$1,107,627$751,834$667,013$1,009,702
81$1,192,795$760,864$661,549$1,062,450
82$1,285,774$769,461$655,025$1,119,484
83$1,387,334$777,575$647,379$1,181,229
84$1,498,321$785,155$638,545$1,248,151
85$1,619,667$792,145$628,454$1,320,767
86$1,752,399$798,486$617,033$1,399,646
87$1,897,647$804,115$604,206$1,485,416
88$2,056,654$808,964$589,895$1,578,768
89$2,230,792$812,962$574,015$1,680,468
90$2,421,570$816,034$556,481$1,791,359
91$2,630,648$818,098$537,202$1,912,369
92$2,859,858$819,069$516,082$2,044,526
93$3,111,216$818,855$493,023$2,188,961
94$3,386,940$817,360$467,920$2,346,922
95$3,689,478$814,480$440,665$2,519,786
96$4,021,522$810,107$411,145$2,709,074
97$4,386,040$804,125$379,241$2,916,461
98$4,786,300$796,411$344,829$3,143,795
99$5,225,902$786,835$307,780$3,393,115
100$5,708,813$775,258$267,960$3,666,671