Can I retire at age 74 with 674,000?

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 $674,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$55,658$55,163$54,679$54,207$53,746$52,298
2 years$27,554$27,040$26,543$26,061$25,593$24,145
3 years$18,187$17,671$17,175$16,697$16,237$14,834
4 years$13,504$12,990$12,499$12,030$11,581$10,233
5 years$10,695$10,184$9,700$9,240$8,803$7,515
6 years$8,823$8,316$7,839$7,389$6,966$5,738
7 years$7,487$6,984$6,514$6,075$5,665$4,498
8 years$6,485$5,987$5,525$5,096$4,700$3,592
9 years$5,706$5,212$4,758$4,341$3,958$2,910
10 years$5,083$4,595$4,148$3,742$3,372$2,382
11 years$4,574$4,090$3,652$3,257$2,900$1,966
12 years$4,150$3,671$3,241$2,856$2,513$1,633
13 years$3,791$3,318$2,896$2,522$2,192$1,364
14 years$3,484$3,016$2,602$2,239$1,921$1,144
15 years$3,218$2,755$2,349$1,996$1,692$963
16 years$2,986$2,528$2,130$1,788$1,495$813
17 years$2,781$2,328$1,938$1,606$1,326$688
18 years$2,599$2,151$1,769$1,447$1,179$584
19 years$2,437$1,993$1,620$1,308$1,051$496
20 years$2,291$1,852$1,486$1,185$938$422
21 years$2,159$1,725$1,367$1,075$840$359
22 years$2,039$1,611$1,260$977$753$306
23 years$1,930$1,506$1,163$890$676$261
24 years$1,830$1,411$1,076$812$607$223
25 years$1,738$1,325$997$741$546$191
26 years$1,653$1,245$924$678$492$163
27 years$1,575$1,172$858$621$444$140
28 years$1,502$1,104$798$569$400$119
29 years$1,435$1,041$743$521$362$102
30 years$1,372$984$692$479$327$87
31 years$1,313$930$645$439$295$75
32 years$1,258$880$602$404$267$64
33 years$1,207$833$562$371$242$55
34 years$1,159$790$525$342$219$47
35 years$1,113$749$491$315$198$40
36 years$1,070$711$459$290$180$35
37 years$1,030$675$430$267$163$30
38 years$992$642$402$246$148$25
39 years$956$610$377$227$134$22
40 years$921$581$353$209$121$19
41 years$889$553$331$193$110$16
42 years$858$526$311$178$100$14
43 years$829$501$292$164$91$12
44 years$801$478$274$152$82$10
45 years$774$456$257$140$75$9
46 years$749$435$241$130$68$7
47 years$725$415$227$120$62$6
48 years$701$396$213$111$56$5
49 years$679$378$200$102$51$5
50 years$658$361$188$94$46$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $674,000, adding $3,853 every year, while hoping to spend $57,473 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: 60/30/10 Blend
73$674,000$674,000$674,000$674,000
74$746,722$711,000$700,553$789,572
75$761,737$684,689$662,871$792,486
76$776,357$655,161$622,000$788,789
77$790,482$622,200$577,773$783,342
78$803,997$585,574$530,015$775,979
79$816,778$545,040$478,543$766,521
80$828,681$500,339$423,166$754,773
81$839,548$451,198$363,684$740,525
82$849,204$397,328$299,890$723,548
83$857,452$338,426$231,565$703,593
84$864,072$274,169$158,483$680,392
85$868,822$204,217$80,406$653,650
86$871,428$128,211$0$623,052
87$871,592$45,771$0$588,562
88$868,977$0$0$558,672
89$863,213$0$0$538,774
90$853,887$0$0$531,600
91$840,543$0$0$521,737
92$822,673$0$0$508,850
93$799,718$0$0$492,566
94$771,054$0$0$472,474
95$735,995$0$0$448,116
96$693,778$0$0$418,988
97$643,560$0$0$384,533
98$584,409$0$0$344,131
99$515,293$0$0$297,100
100$435,073$0$0$242,684