Can I retire at age 74 with 711,000?

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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$58,714$58,191$57,680$57,182$56,696$55,236
2 years$29,066$28,525$28,000$27,492$26,998$25,537
3 years$19,185$18,641$18,118$17,614$17,129$15,712
4 years$14,245$13,703$13,185$12,690$12,216$10,855
5 years$11,282$10,744$10,232$9,747$9,287$7,984
6 years$9,308$8,773$8,269$7,795$7,348$6,106
7 years$7,898$7,368$6,872$6,409$5,976$4,795
8 years$6,841$6,315$5,828$5,376$4,958$3,836
9 years$6,019$5,499$5,019$4,579$4,175$3,113
10 years$5,362$4,847$4,376$3,947$3,557$2,553
11 years$4,825$4,315$3,853$3,435$3,060$2,111
12 years$4,378$3,873$3,419$3,013$2,651$1,757
13 years$3,999$3,500$3,055$2,660$2,312$1,471
14 years$3,676$3,181$2,745$2,361$2,027$1,236
15 years$3,395$2,906$2,478$2,106$1,784$1,043
16 years$3,150$2,666$2,247$1,886$1,577$883
17 years$2,934$2,456$2,044$1,694$1,398$749
18 years$2,742$2,269$1,866$1,527$1,243$636
19 years$2,571$2,103$1,709$1,380$1,108$542
20 years$2,416$1,954$1,568$1,250$990$462
21 years$2,277$1,820$1,442$1,134$886$394
22 years$2,151$1,699$1,329$1,031$794$337
23 years$2,035$1,589$1,227$939$713$288
24 years$1,930$1,489$1,135$856$641$247
25 years$1,833$1,397$1,051$782$576$211
26 years$1,744$1,313$975$715$519$181
27 years$1,661$1,236$905$655$468$155
28 years$1,585$1,165$842$600$422$133
29 years$1,514$1,099$783$550$381$114
30 years$1,447$1,038$730$505$345$98
31 years$1,385$981$680$464$312$84
32 years$1,328$928$635$426$282$72
33 years$1,273$879$593$392$255$62
34 years$1,222$833$554$360$231$53
35 years$1,174$790$518$332$209$46
36 years$1,129$750$484$306$190$39
37 years$1,087$712$453$282$172$34
38 years$1,046$677$424$260$156$29
39 years$1,008$644$398$239$141$25
40 years$972$612$373$221$128$21
41 years$938$583$349$204$116$18
42 years$905$555$328$188$105$16
43 years$874$529$308$173$96$14
44 years$845$504$289$160$87$12
45 years$817$481$271$148$79$10
46 years$790$459$255$137$72$9
47 years$764$438$239$126$65$7
48 years$740$418$225$117$59$6
49 years$717$399$211$108$54$6
50 years$694$381$199$100$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $711,000, adding $5,108 every year, while hoping to spend $27,074 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: 49/26/25 Blend
73$711,000$711,000$711,000$711,000
74$788,791$751,108$740,087$821,634
75$840,441$759,106$736,074$853,091
76$896,452$766,588$731,018$884,135
77$957,240$773,501$724,858$917,319
78$1,023,263$779,787$717,525$952,859
79$1,095,025$785,385$708,951$990,991
80$1,173,079$790,231$699,062$1,031,978
81$1,258,035$794,254$687,782$1,076,111
82$1,350,563$797,381$675,032$1,123,711
83$1,451,402$799,534$660,727$1,175,133
84$1,561,364$800,630$644,780$1,230,771
85$1,681,342$800,580$627,099$1,291,060
86$1,812,320$799,290$607,588$1,356,481
87$1,955,382$796,660$586,148$1,427,566
88$2,111,720$792,585$562,672$1,504,902
89$2,282,646$786,952$537,053$1,589,139
90$2,469,606$779,643$509,174$1,680,997
91$2,674,191$770,531$478,916$1,781,268
92$2,898,153$759,481$446,155$1,890,830
93$3,143,422$746,353$410,758$2,010,654
94$3,412,122$730,996$372,590$2,141,809
95$3,706,594$713,250$331,507$2,285,480
96$4,029,415$692,948$287,361$2,442,973
97$4,383,424$669,910$239,996$2,615,733
98$4,771,746$643,949$189,248$2,805,354
99$5,197,824$614,863$134,949$3,013,598
100$5,665,453$582,442$76,921$3,242,408