Can I retire at age 74 with 672,000?

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 $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%11.8%
1 years$55,493$54,999$54,517$54,046$53,586$53,182
2 years$27,472$26,960$26,464$25,984$25,517$25,109
3 years$18,133$17,619$17,124$16,648$16,189$15,791
4 years$13,464$12,952$12,462$11,994$11,546$11,160
5 years$10,663$10,154$9,671$9,212$8,777$8,405
6 years$8,797$8,292$7,816$7,367$6,945$6,587
7 years$7,464$6,963$6,495$6,057$5,648$5,304
8 years$6,465$5,969$5,508$5,081$4,686$4,355
9 years$5,689$5,197$4,744$4,328$3,946$3,630
10 years$5,068$4,581$4,136$3,731$3,362$3,060
11 years$4,560$4,078$3,641$3,247$2,892$2,603
12 years$4,138$3,660$3,232$2,848$2,506$2,231
13 years$3,780$3,308$2,887$2,514$2,185$1,923
14 years$3,474$3,007$2,594$2,232$1,916$1,666
15 years$3,209$2,747$2,342$1,990$1,687$1,450
16 years$2,977$2,520$2,124$1,782$1,491$1,266
17 years$2,773$2,321$1,932$1,601$1,322$1,109
18 years$2,592$2,145$1,764$1,443$1,175$973
19 years$2,430$1,988$1,615$1,304$1,047$857
20 years$2,284$1,847$1,482$1,181$936$755
21 years$2,152$1,720$1,363$1,072$837$667
22 years$2,033$1,606$1,256$975$750$590
23 years$1,924$1,502$1,160$888$674$523
24 years$1,824$1,407$1,073$809$606$463
25 years$1,733$1,321$994$739$545$411
26 years$1,648$1,241$922$676$491$365
27 years$1,570$1,168$856$619$442$325
28 years$1,498$1,101$796$567$399$289
29 years$1,431$1,038$740$520$361$257
30 years$1,368$981$690$477$326$229
31 years$1,309$927$643$438$295$204
32 years$1,255$877$600$403$266$182
33 years$1,203$831$560$370$241$162
34 years$1,155$787$523$341$218$145
35 years$1,110$747$489$314$198$129
36 years$1,067$709$458$289$179$115
37 years$1,027$673$428$266$162$103
38 years$989$640$401$245$147$92
39 years$953$608$376$226$133$82
40 years$919$579$352$209$121$73
41 years$886$551$330$192$110$65
42 years$856$525$310$178$100$58
43 years$826$500$291$164$90$52
44 years$798$477$273$151$82$47
45 years$772$454$256$140$75$42
46 years$747$434$241$129$68$37
47 years$722$414$226$119$61$33
48 years$699$395$212$110$56$30
49 years$677$377$200$102$51$27
50 years$656$360$188$94$46$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $672,000, adding $5,219 every year, while hoping to spend $53,778 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: 52/31/17 Blend
73$672,000$672,000$672,000$672,000
74$745,927$710,311$699,895$781,003
75$764,793$687,897$666,123$783,218
76$783,780$662,582$629,416$779,551
77$802,844$634,168$589,620$774,381
78$821,936$602,444$546,574$767,583
79$840,996$567,186$500,107$759,023
80$859,960$528,161$450,043$748,554
81$878,754$485,119$396,198$736,022
82$897,294$437,797$338,377$721,259
83$915,486$385,916$276,380$704,086
84$933,222$329,183$209,997$684,308
85$950,386$267,288$139,006$661,719
86$966,842$199,902$63,180$636,095
87$982,442$126,679$0$607,197
88$997,017$47,253$0$577,982
89$1,010,382$0$0$557,395
90$1,022,328$0$0$546,933
91$1,032,622$0$0$551,607
92$1,041,006$0$0$555,147
93$1,047,191$0$0$557,387
94$1,050,857$0$0$558,143
95$1,051,648$0$0$557,209
96$1,049,168$0$0$554,357
97$1,042,978$0$0$549,334
98$1,032,590$0$0$541,859
99$1,017,465$0$0$531,621
100$997,003$0$0$518,275