Can I retire at age 74 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$58,796$58,273$57,762$57,263$56,776$55,561
2 years$29,107$28,565$28,040$27,530$27,036$25,819
3 years$19,212$18,668$18,143$17,639$17,153$15,970
4 years$14,265$13,723$13,204$12,708$12,234$11,095
5 years$11,298$10,759$10,247$9,761$9,300$8,208
6 years$9,321$8,785$8,281$7,806$7,359$6,315
7 years$7,909$7,378$6,881$6,418$5,984$4,990
8 years$6,850$6,324$5,836$5,384$4,965$4,018
9 years$6,028$5,506$5,027$4,586$4,181$3,282
10 years$5,370$4,854$4,382$3,953$3,562$2,710
11 years$4,832$4,321$3,858$3,440$3,064$2,257
12 years$4,384$3,878$3,424$3,017$2,655$1,892
13 years$4,005$3,505$3,059$2,664$2,315$1,595
14 years$3,681$3,186$2,749$2,365$2,030$1,351
15 years$3,400$2,910$2,482$2,109$1,787$1,149
16 years$3,154$2,670$2,250$1,888$1,579$980
17 years$2,938$2,459$2,047$1,697$1,400$838
18 years$2,746$2,272$1,869$1,529$1,245$718
19 years$2,574$2,106$1,711$1,382$1,110$616
20 years$2,420$1,957$1,570$1,251$991$530
21 years$2,280$1,823$1,444$1,136$887$456
22 years$2,154$1,701$1,331$1,033$795$393
23 years$2,038$1,591$1,229$940$714$339
24 years$1,933$1,491$1,137$858$642$293
25 years$1,836$1,399$1,053$783$577$253
26 years$1,746$1,315$976$716$520$219
27 years$1,664$1,238$907$656$469$189
28 years$1,587$1,166$843$601$423$164
29 years$1,516$1,100$784$551$382$142
30 years$1,449$1,039$731$505$345$123
31 years$1,387$982$681$464$312$106
32 years$1,329$929$636$427$282$92
33 years$1,275$880$593$392$255$80
34 years$1,224$834$554$361$231$69
35 years$1,176$791$518$332$209$60
36 years$1,131$751$485$306$190$52
37 years$1,088$713$454$282$172$45
38 years$1,048$678$425$260$156$39
39 years$1,010$645$398$240$141$34
40 years$973$613$373$221$128$30
41 years$939$584$350$204$116$26
42 years$906$556$328$188$106$22
43 years$875$530$308$174$96$19
44 years$846$505$289$160$87$17
45 years$818$481$272$148$79$15
46 years$791$459$255$137$72$13
47 years$765$438$240$126$65$11
48 years$741$418$225$117$59$9
49 years$718$400$212$108$54$8
50 years$695$382$199$100$49$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $712,000, adding $6,558 every year, while hoping to spend $30,196 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: 77/18/5 Blend
73$712,000$712,000$712,000$712,000
74$791,389$753,653$742,617$851,602
75$839,982$758,453$735,366$896,830
76$892,520$762,477$726,860$941,821
77$949,372$765,654$717,026$990,247
78$1,010,947$767,910$705,785$1,042,437
79$1,077,692$769,166$693,057$1,098,751
80$1,150,099$769,338$678,757$1,159,587
81$1,228,710$768,336$662,796$1,225,382
82$1,314,120$766,066$645,081$1,296,621
83$1,406,985$762,427$625,516$1,373,834
84$1,508,024$757,314$603,998$1,457,608
85$1,618,032$750,611$580,421$1,548,589
86$1,737,881$742,200$554,674$1,647,490
87$1,868,530$731,954$526,642$1,755,095
88$2,011,038$719,737$496,202$1,872,269
89$2,166,566$705,407$463,227$1,999,966
90$2,336,397$688,812$427,586$2,139,238
91$2,521,938$669,793$389,139$2,291,243
92$2,724,742$648,180$347,742$2,457,258
93$2,946,518$623,793$303,243$2,638,692
94$3,189,146$596,442$255,485$2,837,097
95$3,454,698$565,927$204,303$3,054,184
96$3,745,455$532,034$149,524$3,291,840
97$4,063,927$494,540$90,969$3,552,144
98$4,412,881$453,206$28,451$3,837,388
99$4,795,364$407,782$0$4,150,101
100$5,214,729$358,001$0$4,495,110