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%14.2%
1 years$58,796$58,273$57,762$57,263$56,776$55,789
2 years$29,107$28,565$28,040$27,530$27,036$26,045
3 years$19,212$18,668$18,143$17,639$17,153$16,189
4 years$14,265$13,723$13,204$12,708$12,234$11,304
5 years$11,298$10,759$10,247$9,761$9,300$8,407
6 years$9,321$8,785$8,281$7,806$7,359$6,503
7 years$7,909$7,378$6,881$6,418$5,984$5,167
8 years$6,850$6,324$5,836$5,384$4,965$4,185
9 years$6,028$5,506$5,027$4,586$4,181$3,439
10 years$5,370$4,854$4,382$3,953$3,562$2,857
11 years$4,832$4,321$3,858$3,440$3,064$2,394
12 years$4,384$3,878$3,424$3,017$2,655$2,021
13 years$4,005$3,505$3,059$2,664$2,315$1,715
14 years$3,681$3,186$2,749$2,365$2,030$1,462
15 years$3,400$2,910$2,482$2,109$1,787$1,252
16 years$3,154$2,670$2,250$1,888$1,579$1,075
17 years$2,938$2,459$2,047$1,697$1,400$926
18 years$2,746$2,272$1,869$1,529$1,245$799
19 years$2,574$2,106$1,711$1,382$1,110$691
20 years$2,420$1,957$1,570$1,251$991$599
21 years$2,280$1,823$1,444$1,136$887$519
22 years$2,154$1,701$1,331$1,033$795$451
23 years$2,038$1,591$1,229$940$714$392
24 years$1,933$1,491$1,137$858$642$341
25 years$1,836$1,399$1,053$783$577$297
26 years$1,746$1,315$976$716$520$259
27 years$1,664$1,238$907$656$469$226
28 years$1,587$1,166$843$601$423$197
29 years$1,516$1,100$784$551$382$172
30 years$1,449$1,039$731$505$345$150
31 years$1,387$982$681$464$312$131
32 years$1,329$929$636$427$282$115
33 years$1,275$880$593$392$255$100
34 years$1,224$834$554$361$231$88
35 years$1,176$791$518$332$209$77
36 years$1,131$751$485$306$190$67
37 years$1,088$713$454$282$172$59
38 years$1,048$678$425$260$156$51
39 years$1,010$645$398$240$141$45
40 years$973$613$373$221$128$39
41 years$939$584$350$204$116$34
42 years$906$556$328$188$106$30
43 years$875$530$308$174$96$26
44 years$846$505$289$160$87$23
45 years$818$481$272$148$79$20
46 years$791$459$255$137$72$18
47 years$765$438$240$126$65$15
48 years$741$418$225$117$59$14
49 years$718$400$212$108$54$12
50 years$695$382$199$100$49$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $712,000, adding $3,306 every year, while hoping to spend $41,464 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: 71/8/21 Blend
73$712,000$712,000$712,000$712,000
74$788,034$750,298$739,262$839,700
75$824,296$742,945$719,910$867,218
76$862,867$733,843$698,520$892,106
77$903,939$722,860$674,980$918,331
78$947,722$709,861$649,172$946,018
79$994,445$694,700$620,975$975,311
80$1,044,361$677,223$590,260$1,006,364
81$1,097,745$657,266$556,894$1,039,352
82$1,154,901$634,658$520,735$1,074,466
83$1,216,160$609,215$481,639$1,111,920
84$1,281,886$580,745$439,452$1,151,949
85$1,352,479$549,042$394,014$1,194,813
86$1,428,378$513,891$345,160$1,240,803
87$1,510,064$475,063$292,713$1,290,237
88$1,598,065$432,316$236,494$1,343,470
89$1,692,963$385,394$176,312$1,400,894
90$1,795,395$334,028$111,968$1,462,942
91$1,906,062$277,932$43,256$1,530,095
92$2,025,734$216,805$0$1,602,881
93$2,155,259$150,328$0$1,688,628
94$2,295,566$78,166$0$1,792,027
95$2,447,680$0$0$1,904,146
96$2,612,725$0$0$2,025,837
97$2,791,940$0$0$2,165,478
98$2,986,685$0$0$2,317,252
99$3,198,457$0$0$2,482,331
100$3,428,905$0$0$2,662,001