Can I retire at age 74 with 696,000?

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 $696,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$57,475$56,963$56,464$55,976$55,500$54,648
2 years$28,453$27,923$27,410$26,912$26,429$25,572
3 years$18,780$18,248$17,736$17,243$16,767$15,933
4 years$13,945$13,414$12,907$12,422$11,959$11,153
5 years$11,044$10,517$10,016$9,541$9,091$8,317
6 years$9,111$8,588$8,095$7,630$7,193$6,451
7 years$7,731$7,212$6,727$6,273$5,850$5,140
8 years$6,696$6,182$5,705$5,263$4,853$4,175
9 years$5,892$5,383$4,914$4,483$4,087$3,441
10 years$5,249$4,745$4,284$3,864$3,482$2,868
11 years$4,723$4,224$3,771$3,363$2,995$2,411
12 years$4,285$3,791$3,347$2,950$2,595$2,041
13 years$3,915$3,426$2,990$2,604$2,263$1,738
14 years$3,598$3,114$2,687$2,312$1,984$1,487
15 years$3,324$2,845$2,426$2,062$1,747$1,277
16 years$3,084$2,610$2,199$1,846$1,544$1,101
17 years$2,872$2,404$2,001$1,659$1,369$951
18 years$2,684$2,221$1,827$1,495$1,217$824
19 years$2,516$2,059$1,673$1,351$1,085$715
20 years$2,365$1,913$1,535$1,223$969$622
21 years$2,229$1,782$1,412$1,110$867$542
22 years$2,105$1,663$1,301$1,009$777$472
23 years$1,993$1,556$1,201$919$698$412
24 years$1,889$1,458$1,111$838$627$360
25 years$1,794$1,368$1,029$766$564$315
26 years$1,707$1,286$954$700$508$276
27 years$1,626$1,210$886$641$458$241
28 years$1,551$1,140$824$587$414$211
29 years$1,482$1,075$767$538$373$185
30 years$1,417$1,016$714$494$337$162
31 years$1,356$960$666$454$305$143
32 years$1,300$908$621$417$276$125
33 years$1,246$860$580$384$250$110
34 years$1,197$815$542$353$226$96
35 years$1,150$773$507$325$205$85
36 years$1,105$734$474$299$186$74
37 years$1,064$697$444$276$168$65
38 years$1,024$663$415$254$152$57
39 years$987$630$389$234$138$50
40 years$952$599$365$216$125$44
41 years$918$571$342$199$114$39
42 years$886$543$321$184$103$34
43 years$856$518$301$170$94$30
44 years$827$494$283$157$85$26
45 years$799$471$265$145$77$23
46 years$773$449$249$134$70$20
47 years$748$428$234$124$64$18
48 years$724$409$220$114$58$16
49 years$701$391$207$106$52$14
50 years$680$373$194$98$48$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $696,000, adding $2,437 every year, while hoping to spend $49,259 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: 52/29/19 Blend
73$696,000$696,000$696,000$696,000
74$769,506$732,618$721,830$805,384
75$795,584$716,105$693,600$813,805
76$822,672$697,132$662,773$817,623
77$850,819$675,526$629,211$820,715
78$880,081$651,105$592,768$823,028
79$910,515$623,676$553,292$824,505
80$942,185$593,033$510,625$825,091
81$975,158$558,961$464,600$824,725
82$1,009,505$521,231$415,045$823,344
83$1,045,304$479,601$361,779$820,886
84$1,082,638$433,815$304,612$817,282
85$1,121,599$383,604$243,348$812,463
86$1,162,282$328,680$177,780$806,358
87$1,204,792$268,743$107,693$798,894
88$1,249,244$203,474$32,863$789,993
89$1,295,758$132,536$0$779,578
90$1,344,469$55,573$0$777,096
91$1,395,518$0$0$780,667
92$1,449,064$0$0$792,459
93$1,505,274$0$0$823,475
94$1,564,332$0$0$856,085
95$1,626,437$0$0$890,404
96$1,691,808$0$0$926,553
97$1,760,680$0$0$964,668
98$1,833,311$0$0$1,004,893
99$1,909,980$0$0$1,047,390
100$1,990,995$0$0$1,092,330