Can I retire at age 74 with 672,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $672,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$55,493$54,999$54,517$54,046$53,586$53,293
2 years$27,472$26,960$26,464$25,984$25,517$25,222
3 years$18,133$17,619$17,124$16,648$16,189$15,900
4 years$13,464$12,952$12,462$11,994$11,546$11,266
5 years$10,663$10,154$9,671$9,212$8,777$8,506
6 years$8,797$8,292$7,816$7,367$6,945$6,684
7 years$7,464$6,963$6,495$6,057$5,648$5,397
8 years$6,465$5,969$5,508$5,081$4,686$4,445
9 years$5,689$5,197$4,744$4,328$3,946$3,715
10 years$5,068$4,581$4,136$3,731$3,362$3,141
11 years$4,560$4,078$3,641$3,247$2,892$2,680
12 years$4,138$3,660$3,232$2,848$2,506$2,304
13 years$3,780$3,308$2,887$2,514$2,185$1,993
14 years$3,474$3,007$2,594$2,232$1,916$1,732
15 years$3,209$2,747$2,342$1,990$1,687$1,512
16 years$2,977$2,520$2,124$1,782$1,491$1,325
17 years$2,773$2,321$1,932$1,601$1,322$1,164
18 years$2,592$2,145$1,764$1,443$1,175$1,026
19 years$2,430$1,988$1,615$1,304$1,047$906
20 years$2,284$1,847$1,482$1,181$936$802
21 years$2,152$1,720$1,363$1,072$837$711
22 years$2,033$1,606$1,256$975$750$631
23 years$1,924$1,502$1,160$888$674$561
24 years$1,824$1,407$1,073$809$606$499
25 years$1,733$1,321$994$739$545$445
26 years$1,648$1,241$922$676$491$397
27 years$1,570$1,168$856$619$442$354
28 years$1,498$1,101$796$567$399$316
29 years$1,431$1,038$740$520$361$283
30 years$1,368$981$690$477$326$253
31 years$1,309$927$643$438$295$226
32 years$1,255$877$600$403$266$202
33 years$1,203$831$560$370$241$181
34 years$1,155$787$523$341$218$162
35 years$1,110$747$489$314$198$145
36 years$1,067$709$458$289$179$130
37 years$1,027$673$428$266$162$117
38 years$989$640$401$245$147$105
39 years$953$608$376$226$133$94
40 years$919$579$352$209$121$84
41 years$886$551$330$192$110$76
42 years$856$525$310$178$100$68
43 years$826$500$291$164$90$61
44 years$798$477$273$151$82$55
45 years$772$454$256$140$75$49
46 years$747$434$241$129$68$44
47 years$722$414$226$119$61$40
48 years$699$395$212$110$56$36
49 years$677$377$200$102$51$32
50 years$656$360$188$94$46$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $672,000, adding $4,995 every year, while hoping to spend $20,143 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: 58/12/30 Blend
73$672,000$672,000$672,000$672,000
74$745,696$710,080$699,664$782,548
75$800,325$723,442$701,671$821,765
76$859,851$736,784$703,070$861,976
77$924,753$750,083$703,819$905,417
78$995,556$763,315$703,876$952,408
79$1,072,840$776,455$703,193$1,003,303
80$1,157,242$789,474$701,723$1,058,490
81$1,249,466$802,343$699,415$1,118,400
82$1,350,283$815,029$696,217$1,183,504
83$1,460,544$827,498$692,073$1,254,327
84$1,581,187$839,713$686,925$1,331,443
85$1,713,243$851,634$680,712$1,415,489
86$1,857,849$863,219$673,370$1,507,166
87$2,016,254$874,421$664,832$1,607,247
88$2,189,837$885,193$655,030$1,716,585
89$2,380,115$895,482$643,888$1,836,120
90$2,588,760$905,234$631,331$1,966,890
91$2,817,611$914,388$617,278$2,110,038
92$3,068,697$922,882$601,646$2,266,827
93$3,344,249$930,648$584,346$2,438,649
94$3,646,727$937,615$565,287$2,627,038
95$3,978,842$943,707$544,373$2,833,685
96$4,343,577$948,841$521,502$3,060,459
97$4,744,219$952,932$496,570$3,309,416
98$5,184,392$955,889$469,468$3,582,826
99$5,668,085$957,612$440,080$3,883,192
100$6,199,693$957,998$408,286$4,213,272