Can I retire at age 74 with 742,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $742,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$61,274$60,728$60,195$59,676$59,168$57,714
2 years$30,333$29,769$29,221$28,690$28,175$26,720
3 years$20,021$19,454$18,908$18,382$17,876$16,463
4 years$14,866$14,301$13,760$13,243$12,749$11,391
5 years$11,774$11,212$10,678$10,172$9,692$8,392
6 years$9,713$9,155$8,630$8,135$7,669$6,429
7 years$8,242$7,689$7,171$6,688$6,237$5,057
8 years$7,139$6,591$6,082$5,610$5,174$4,053
9 years$6,281$5,738$5,238$4,779$4,357$3,294
10 years$5,596$5,058$4,567$4,119$3,713$2,707
11 years$5,035$4,503$4,021$3,585$3,193$2,243
12 years$4,569$4,042$3,568$3,145$2,767$1,871
13 years$4,174$3,652$3,188$2,776$2,413$1,569
14 years$3,836$3,320$2,864$2,464$2,115$1,322
15 years$3,543$3,033$2,586$2,198$1,862$1,117
16 years$3,287$2,783$2,345$1,968$1,646$947
17 years$3,062$2,563$2,134$1,768$1,459$805
18 years$2,862$2,368$1,948$1,593$1,298$686
19 years$2,683$2,195$1,783$1,440$1,157$585
20 years$2,522$2,039$1,636$1,304$1,033$500
21 years$2,376$1,900$1,505$1,184$924$428
22 years$2,245$1,773$1,387$1,076$829$367
23 years$2,124$1,658$1,281$980$744$314
24 years$2,014$1,554$1,185$894$669$270
25 years$1,913$1,458$1,097$816$602$232
26 years$1,820$1,370$1,018$746$542$199
27 years$1,734$1,290$945$683$489$171
28 years$1,654$1,215$878$626$441$147
29 years$1,580$1,147$817$574$398$126
30 years$1,510$1,083$761$527$360$109
31 years$1,446$1,024$710$484$325$94
32 years$1,385$969$662$445$294$81
33 years$1,329$917$618$409$266$69
34 years$1,276$869$578$376$241$60
35 years$1,226$825$540$346$218$51
36 years$1,178$783$505$319$198$44
37 years$1,134$743$473$294$179$38
38 years$1,092$706$443$271$163$33
39 years$1,052$672$415$250$147$28
40 years$1,014$639$389$230$134$24
41 years$979$608$365$213$121$21
42 years$945$579$342$196$110$18
43 years$912$552$321$181$100$16
44 years$882$526$301$167$91$13
45 years$852$502$283$154$82$12
46 years$824$479$266$143$75$10
47 years$798$457$250$132$68$9
48 years$772$436$235$122$62$7
49 years$748$416$221$113$56$6
50 years$724$398$207$104$51$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $742,000, adding $4,757 every year, while hoping to spend $30,370 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: 88/7/5 Blend
73$742,000$742,000$742,000$742,000
74$822,591$783,265$771,764$894,646
75$874,182$789,331$765,304$948,320
76$930,017$794,677$757,611$1,002,558
77$990,497$799,235$748,610$1,061,179
78$1,056,064$802,933$738,224$1,124,600
79$1,127,201$805,696$726,373$1,193,282
80$1,204,442$807,441$712,973$1,267,732
81$1,288,372$808,084$697,935$1,348,508
82$1,379,638$807,531$681,167$1,436,223
83$1,478,948$805,687$662,573$1,531,553
84$1,587,083$802,448$642,052$1,635,244
85$1,704,903$797,705$619,498$1,748,114
86$1,833,352$791,342$594,800$1,871,067
87$1,973,471$783,235$567,843$2,005,097
88$2,126,405$773,253$538,506$2,151,297
89$2,293,415$761,260$506,663$2,310,876
90$2,475,889$747,107$472,182$2,485,160
91$2,675,355$730,640$434,924$2,675,613
92$2,893,494$711,695$394,747$2,883,847
93$3,132,159$690,096$351,500$3,111,637
94$3,393,389$665,661$305,025$3,360,940
95$3,679,429$638,193$255,158$3,633,911
96$3,992,753$607,486$201,728$3,932,924
97$4,336,084$573,323$144,555$4,260,594
98$4,712,420$535,472$83,454$4,619,804
99$5,125,066$493,688$18,228$5,013,730
100$5,577,658$447,715$0$5,445,870