Can I retire at age 74 with 694,000?

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 $694,000?

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$57,310$56,799$56,301$55,815$55,341$54,923
2 years$28,371$27,843$27,331$26,834$26,353$25,931
3 years$18,726$18,196$17,685$17,193$16,719$16,308
4 years$13,905$13,376$12,870$12,387$11,924$11,525
5 years$11,013$10,487$9,988$9,514$9,065$8,680
6 years$9,085$8,563$8,072$7,608$7,173$6,802
7 years$7,709$7,191$6,707$6,255$5,833$5,477
8 years$6,677$6,164$5,688$5,247$4,839$4,498
9 years$5,875$5,367$4,899$4,470$4,075$3,749
10 years$5,234$4,731$4,271$3,853$3,472$3,160
11 years$4,710$4,212$3,761$3,353$2,986$2,688
12 years$4,273$3,780$3,337$2,941$2,588$2,304
13 years$3,904$3,416$2,982$2,597$2,257$1,986
14 years$3,588$3,105$2,679$2,305$1,978$1,721
15 years$3,314$2,837$2,419$2,056$1,742$1,497
16 years$3,075$2,603$2,193$1,841$1,539$1,307
17 years$2,864$2,397$1,996$1,654$1,365$1,145
18 years$2,676$2,215$1,822$1,490$1,214$1,005
19 years$2,509$2,053$1,668$1,347$1,082$885
20 years$2,359$1,907$1,531$1,220$966$780
21 years$2,223$1,777$1,408$1,107$865$689
22 years$2,099$1,658$1,297$1,006$775$609
23 years$1,987$1,551$1,198$917$696$540
24 years$1,884$1,453$1,108$836$625$479
25 years$1,789$1,364$1,026$763$563$425
26 years$1,702$1,282$952$698$507$377
27 years$1,621$1,206$884$639$457$335
28 years$1,547$1,137$822$585$412$298
29 years$1,477$1,072$765$537$372$266
30 years$1,413$1,013$712$493$336$237
31 years$1,352$957$664$453$304$211
32 years$1,296$906$619$416$275$188
33 years$1,243$858$578$382$249$168
34 years$1,193$813$540$352$225$149
35 years$1,146$771$505$324$204$133
36 years$1,102$732$473$298$185$119
37 years$1,061$695$442$275$168$106
38 years$1,021$661$414$253$152$95
39 years$984$628$388$234$138$85
40 years$949$598$364$215$125$76
41 years$915$569$341$199$113$68
42 years$884$542$320$183$103$60
43 years$853$516$300$169$93$54
44 years$825$492$282$156$85$48
45 years$797$469$265$144$77$43
46 years$771$448$249$133$70$39
47 years$746$427$234$123$63$34
48 years$722$408$219$114$58$31
49 years$699$389$206$105$52$28
50 years$678$372$194$97$48$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $694,000, adding $4,482 every year, while hoping to spend $33,088 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: 49/24/27 Blend
73$694,000$694,000$694,000$694,000
74$769,411$732,629$721,872$801,021
75$812,686$733,323$710,850$824,306
76$859,265$732,941$698,349$845,953
77$909,452$731,397$684,285$868,820
78$963,578$728,597$668,570$893,041
79$1,022,008$724,443$651,112$918,760
80$1,085,142$718,830$631,814$946,142
81$1,153,421$711,647$610,574$975,368
82$1,227,328$702,776$587,287$1,006,639
83$1,307,396$692,093$561,841$1,040,182
84$1,394,210$679,465$534,122$1,076,246
85$1,488,413$664,752$504,009$1,115,110
86$1,590,712$647,806$471,374$1,157,084
87$1,701,886$628,470$436,087$1,202,511
88$1,822,791$606,577$398,008$1,251,774
89$1,954,368$581,952$356,994$1,305,296
90$2,097,654$554,409$312,894$1,363,549
91$2,253,790$523,750$265,551$1,427,054
92$2,424,030$489,767$214,800$1,496,392
93$2,609,755$452,240$160,470$1,572,205
94$2,812,487$410,936$102,382$1,655,205
95$3,033,898$365,609$40,350$1,746,183
96$3,275,830$315,999$0$1,846,013
97$3,540,313$261,831$0$1,963,111
98$3,829,580$202,815$0$2,103,995
99$4,146,088$138,644$0$2,258,276
100$4,492,545$68,995$0$2,427,335