Can I retire at age 74 with 847,000?

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 $847,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$69,944$69,321$68,714$68,120$67,541$64,861
2 years$34,626$33,981$33,356$32,750$32,162$29,496
3 years$22,855$22,207$21,584$20,983$20,405$17,836
4 years$16,970$16,325$15,707$15,117$14,553$12,100
5 years$13,440$12,799$12,190$11,612$11,063$8,733
6 years$11,088$10,451$9,851$9,286$8,754$6,548
7 years$9,408$8,777$8,186$7,634$7,119$5,037
8 years$8,149$7,523$6,943$6,404$5,906$3,946
9 years$7,170$6,550$5,980$5,455$4,974$3,132
10 years$6,388$5,774$5,213$4,702$4,238$2,511
11 years$5,748$5,140$4,590$4,092$3,645$2,029
12 years$5,215$4,613$4,073$3,590$3,158$1,649
13 years$4,765$4,169$3,639$3,169$2,754$1,347
14 years$4,379$3,790$3,270$2,813$2,414$1,104
15 years$4,045$3,462$2,952$2,509$2,126$908
16 years$3,753$3,176$2,677$2,246$1,879$749
17 years$3,495$2,925$2,436$2,018$1,666$618
18 years$3,267$2,703$2,223$1,819$1,481$512
19 years$3,062$2,505$2,035$1,644$1,320$424
20 years$2,879$2,328$1,868$1,489$1,179$352
21 years$2,713$2,168$1,718$1,351$1,055$292
22 years$2,562$2,024$1,584$1,228$946$243
23 years$2,425$1,893$1,462$1,119$849$202
24 years$2,299$1,774$1,352$1,020$763$168
25 years$2,184$1,665$1,252$932$687$140
26 years$2,077$1,564$1,162$852$619$116
27 years$1,979$1,472$1,079$780$558$97
28 years$1,888$1,387$1,003$715$503$81
29 years$1,803$1,309$933$655$454$67
30 years$1,724$1,236$869$601$411$56
31 years$1,650$1,168$810$552$371$47
32 years$1,581$1,106$756$508$336$39
33 years$1,517$1,047$706$467$304$32
34 years$1,456$992$660$429$275$27
35 years$1,399$941$617$395$249$23
36 years$1,345$893$577$364$226$19
37 years$1,294$848$540$335$205$16
38 years$1,246$806$506$309$186$13
39 years$1,201$767$474$285$168$11
40 years$1,158$730$444$263$153$9
41 years$1,117$694$416$243$138$8
42 years$1,078$661$391$224$126$6
43 years$1,041$630$366$207$114$5
44 years$1,006$601$344$191$103$4
45 years$973$573$323$176$94$4
46 years$941$546$303$163$85$3
47 years$911$521$285$150$77$3
48 years$881$498$268$139$70$2
49 years$854$475$252$128$64$2
50 years$827$454$237$119$58$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $847,000, adding $5,423 every year, while hoping to spend $48,283 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: 55/29/16 Blend
73$847,000$847,000$847,000$847,000
74$938,988$894,097$880,968$986,367
75$983,392$886,535$859,108$1,011,676
76$1,030,707$876,984$834,897$1,033,567
77$1,081,179$865,296$808,206$1,056,315
78$1,135,077$851,314$778,899$1,080,013
79$1,192,697$834,870$746,834$1,104,767
80$1,254,362$815,789$711,863$1,130,693
81$1,320,427$793,883$673,831$1,157,925
82$1,391,282$768,954$632,575$1,186,612
83$1,467,353$740,793$587,927$1,216,921
84$1,549,110$709,179$539,709$1,249,040
85$1,637,066$673,876$487,737$1,283,178
86$1,731,787$634,636$431,816$1,319,572
87$1,833,894$591,198$371,747$1,358,484
88$1,944,068$543,283$307,317$1,400,207
89$2,063,058$490,599$238,307$1,445,072
90$2,191,686$432,834$164,486$1,493,443
91$2,330,858$369,663$85,617$1,545,731
92$2,481,567$300,739$1,447$1,602,391
93$2,644,907$225,695$0$1,663,932
94$2,822,080$144,146$0$1,746,007
95$3,014,407$55,684$0$1,835,404
96$3,223,342$0$0$1,932,625
97$3,450,485$0$0$2,051,304
98$3,697,595$0$0$2,199,816
99$3,966,608$0$0$2,361,564
100$4,259,654$0$0$2,537,837