Can I retire at age 74 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$57,805$57,290$56,788$56,298$55,819$55,236
2 years$28,617$28,084$27,567$27,066$26,580$25,993
3 years$18,888$18,353$17,838$17,342$16,864$16,291
4 years$14,025$13,491$12,981$12,494$12,027$11,473
5 years$11,108$10,577$10,074$9,596$9,143$8,609
6 years$9,164$8,637$8,141$7,674$7,235$6,721
7 years$7,776$7,254$6,765$6,309$5,884$5,391
8 years$6,735$6,218$5,738$5,293$4,881$4,410
9 years$5,926$5,414$4,942$4,508$4,111$3,660
10 years$5,279$4,772$4,308$3,886$3,502$3,072
11 years$4,750$4,248$3,793$3,382$3,012$2,602
12 years$4,310$3,813$3,366$2,967$2,610$2,220
13 years$3,938$3,446$3,008$2,619$2,276$1,905
14 years$3,619$3,132$2,702$2,325$1,995$1,643
15 years$3,343$2,861$2,440$2,073$1,757$1,423
16 years$3,101$2,625$2,212$1,857$1,553$1,237
17 years$2,889$2,418$2,013$1,668$1,377$1,078
18 years$2,700$2,234$1,837$1,503$1,224$942
19 years$2,531$2,070$1,682$1,358$1,091$825
20 years$2,379$1,924$1,544$1,230$975$723
21 years$2,242$1,792$1,420$1,117$872$636
22 years$2,117$1,673$1,309$1,015$782$559
23 years$2,004$1,565$1,208$925$702$493
24 years$1,900$1,466$1,118$843$631$434
25 years$1,805$1,376$1,035$770$568$384
26 years$1,717$1,293$960$704$511$339
27 years$1,635$1,217$891$645$461$300
28 years$1,560$1,147$829$591$416$265
29 years$1,490$1,082$771$542$376$235
30 years$1,425$1,021$718$497$339$208
31 years$1,364$966$670$456$307$184
32 years$1,307$914$625$419$278$163
33 years$1,254$865$583$386$251$145
34 years$1,203$820$545$355$227$128
35 years$1,156$778$510$327$206$114
36 years$1,112$738$477$301$187$101
37 years$1,070$701$446$277$169$90
38 years$1,030$666$418$256$153$79
39 years$993$634$391$236$139$71
40 years$957$603$367$217$126$63
41 years$923$574$344$201$114$56
42 years$891$547$323$185$104$49
43 years$861$521$303$171$94$44
44 years$832$496$284$158$86$39
45 years$804$473$267$146$78$35
46 years$778$452$251$135$70$31
47 years$753$431$236$124$64$27
48 years$728$411$221$115$58$24
49 years$705$393$208$106$53$22
50 years$683$375$196$98$48$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $700,000, adding $5,445 every year, while hoping to spend $41,232 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: 60/23/17 Blend
73$700,000$700,000$700,000$700,000
74$777,017$739,917$729,067$819,937
75$812,402$732,302$709,620$841,948
76$850,014$722,932$688,140$860,891
77$890,038$711,678$664,514$880,600
78$932,673$698,402$638,627$901,154
79$978,141$682,959$610,356$922,643
80$1,026,682$665,194$579,574$945,166
81$1,078,561$644,946$546,147$968,836
82$1,134,066$622,040$509,935$993,778
83$1,193,516$596,296$470,793$1,020,132
84$1,257,259$567,519$428,569$1,048,056
85$1,325,677$535,504$383,103$1,077,724
86$1,399,189$500,037$334,230$1,109,334
87$1,478,256$460,888$281,776$1,143,103
88$1,563,382$417,816$225,560$1,179,276
89$1,655,123$370,565$165,392$1,218,126
90$1,754,088$318,865$101,076$1,259,955
91$1,860,947$262,432$32,404$1,305,101
92$1,976,437$200,964$0$1,353,941
93$2,101,364$134,142$0$1,414,309
94$2,236,619$61,631$0$1,486,009
95$2,383,180$0$0$1,563,719
96$2,542,119$0$0$1,652,341
97$2,714,620$0$0$1,765,501
98$2,901,982$0$0$1,888,458
99$3,105,635$0$0$2,022,158
100$3,327,151$0$0$2,167,639