Can I retire at age 74 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$57,062$56,554$56,058$55,574$55,101$54,481
2 years$28,249$27,722$27,213$26,718$26,239$25,614
3 years$18,645$18,117$17,608$17,119$16,647$16,037
4 years$13,845$13,318$12,814$12,333$11,873$11,283
5 years$10,965$10,441$9,944$9,473$9,025$8,457
6 years$9,046$8,526$8,037$7,576$7,142$6,596
7 years$7,676$7,160$6,678$6,228$5,808$5,285
8 years$6,648$6,138$5,664$5,225$4,818$4,318
9 years$5,850$5,344$4,878$4,450$4,058$3,579
10 years$5,211$4,710$4,253$3,836$3,457$3,001
11 years$4,689$4,193$3,744$3,339$2,973$2,539
12 years$4,255$3,764$3,323$2,928$2,577$2,163
13 years$3,887$3,401$2,969$2,585$2,247$1,854
14 years$3,572$3,092$2,668$2,295$1,970$1,597
15 years$3,300$2,824$2,408$2,047$1,734$1,381
16 years$3,061$2,591$2,184$1,833$1,533$1,199
17 years$2,851$2,386$1,987$1,647$1,359$1,043
18 years$2,665$2,205$1,814$1,484$1,208$910
19 years$2,498$2,044$1,660$1,341$1,077$796
20 years$2,348$1,899$1,524$1,214$962$697
21 years$2,213$1,769$1,402$1,102$861$612
22 years$2,090$1,651$1,292$1,002$772$537
23 years$1,978$1,544$1,193$913$693$473
24 years$1,876$1,447$1,103$832$623$416
25 years$1,782$1,358$1,022$760$560$367
26 years$1,695$1,276$948$695$505$323
27 years$1,614$1,201$880$636$455$286
28 years$1,540$1,132$818$583$411$252
29 years$1,471$1,068$761$535$371$223
30 years$1,407$1,008$709$491$335$197
31 years$1,346$953$661$451$303$174
32 years$1,290$902$617$414$274$154
33 years$1,237$854$576$381$248$136
34 years$1,188$810$538$350$224$121
35 years$1,141$768$503$323$203$107
36 years$1,097$729$471$297$184$95
37 years$1,056$692$440$274$167$84
38 years$1,017$658$412$252$151$74
39 years$980$626$386$233$137$66
40 years$945$595$362$215$124$58
41 years$911$567$340$198$113$52
42 years$880$540$319$183$102$46
43 years$850$514$299$169$93$41
44 years$821$490$281$156$84$36
45 years$794$467$264$144$77$32
46 years$768$446$247$133$70$28
47 years$743$425$233$123$63$25
48 years$719$406$218$113$57$22
49 years$696$388$205$105$52$20
50 years$675$370$193$97$47$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $691,000, adding $4,433 every year, while hoping to spend $28,404 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: 41/37/22 Blend
73$691,000$691,000$691,000$691,000
74$766,055$729,432$718,721$792,341
75$813,971$734,952$712,577$817,078
76$865,822$739,791$705,274$840,788
77$921,980$743,885$696,745$865,877
78$982,854$747,167$686,918$892,488
79$1,048,891$749,565$675,716$920,780
80$1,120,587$751,003$663,062$950,927
81$1,198,485$751,399$648,872$983,125
82$1,283,181$750,669$633,060$1,017,590
83$1,375,333$748,719$615,535$1,054,565
84$1,475,665$745,454$596,203$1,094,316
85$1,584,972$740,771$574,965$1,137,141
86$1,704,130$734,560$551,718$1,183,370
87$1,834,103$726,705$526,352$1,233,369
88$1,975,953$717,084$498,756$1,287,544
89$2,130,846$705,568$468,811$1,346,345
90$2,300,069$692,017$436,392$1,410,272
91$2,485,037$676,287$401,372$1,479,878
92$2,687,308$658,222$363,615$1,555,777
93$2,908,597$637,659$322,980$1,638,649
94$3,150,795$614,425$279,321$1,729,245
95$3,415,980$588,336$232,482$1,828,401
96$3,706,444$559,198$182,305$1,937,040
97$4,024,710$526,807$128,620$2,056,184
98$4,373,555$490,946$71,254$2,186,963
99$4,756,040$451,384$10,023$2,330,631
100$5,175,534$407,880$0$2,488,573