Can I retire at age 74 with 889,000?

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 $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$73,413$72,759$72,121$71,498$70,890$69,036
2 years$36,343$35,666$35,010$34,374$33,757$31,902
3 years$23,988$23,308$22,654$22,024$21,417$19,619
4 years$17,812$17,134$16,486$15,867$15,275$13,547
5 years$14,107$13,433$12,794$12,187$11,612$9,959
6 years$11,638$10,969$10,339$9,746$9,188$7,613
7 years$9,875$9,212$8,592$8,013$7,472$5,974
8 years$8,553$7,896$7,287$6,722$6,199$4,777
9 years$7,526$6,875$6,276$5,726$5,220$3,874
10 years$6,705$6,060$5,472$4,935$4,448$3,175
11 years$6,033$5,395$4,817$4,295$3,825$2,624
12 years$5,474$4,842$4,275$3,768$3,315$2,183
13 years$5,001$4,376$3,820$3,326$2,891$1,826
14 years$4,596$3,978$3,432$2,953$2,534$1,534
15 years$4,245$3,634$3,099$2,633$2,231$1,293
16 years$3,939$3,334$2,809$2,358$1,972$1,093
17 years$3,668$3,070$2,556$2,118$1,748$927
18 years$3,429$2,837$2,334$1,909$1,555$787
19 years$3,214$2,629$2,136$1,725$1,386$670
20 years$3,021$2,443$1,961$1,562$1,238$570
21 years$2,847$2,276$1,803$1,418$1,108$487
22 years$2,689$2,124$1,662$1,289$993$416
23 years$2,545$1,987$1,535$1,174$891$355
24 years$2,413$1,862$1,419$1,071$801$304
25 years$2,292$1,747$1,315$978$721$260
26 years$2,180$1,642$1,219$894$649$223
27 years$2,077$1,545$1,132$819$585$191
28 years$1,981$1,456$1,052$750$528$163
29 years$1,892$1,374$979$688$477$140
30 years$1,810$1,297$912$631$431$120
31 years$1,732$1,226$850$580$390$103
32 years$1,660$1,160$793$533$352$88
33 years$1,592$1,099$741$490$319$76
34 years$1,528$1,042$692$451$289$65
35 years$1,468$988$647$415$262$56
36 years$1,412$938$605$382$237$48
37 years$1,359$891$567$352$215$41
38 years$1,308$846$531$325$195$35
39 years$1,261$805$497$299$177$30
40 years$1,215$766$466$276$160$26
41 years$1,173$729$437$255$145$22
42 years$1,132$694$410$235$132$19
43 years$1,093$661$385$217$120$17
44 years$1,056$630$361$200$109$14
45 years$1,021$601$339$185$99$12
46 years$988$573$318$171$90$10
47 years$956$547$299$158$81$9
48 years$925$522$281$146$74$8
49 years$896$499$264$135$67$7
50 years$868$477$248$125$61$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $889,000, adding $5,449 every year, while hoping to spend $48,103 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: 58/36/6 Blend
73$889,000$889,000$889,000$889,000
74$985,299$938,182$924,402$1,040,938
75$1,034,618$932,971$904,188$1,073,716
76$1,087,355$925,893$881,685$1,103,483
77$1,143,809$916,806$856,765$1,134,719
78$1,204,306$905,558$829,295$1,167,571
79$1,269,204$891,989$799,135$1,202,196
80$1,338,897$875,930$766,140$1,238,774
81$1,413,815$857,201$730,157$1,277,503
82$1,494,433$835,613$691,026$1,318,605
83$1,581,271$810,964$648,581$1,362,326
84$1,674,901$783,041$602,649$1,408,940
85$1,775,949$751,619$553,046$1,458,751
86$1,885,106$716,458$499,583$1,512,100
87$2,003,129$677,307$442,061$1,569,362
88$2,130,851$633,898$380,273$1,630,957
89$2,269,188$585,949$314,003$1,697,350
90$2,419,147$533,162$243,024$1,769,058
91$2,581,835$475,222$167,099$1,846,655
92$2,758,468$411,794$85,983$1,930,778
93$2,950,387$342,527$0$2,022,134
94$3,159,064$267,048$0$2,121,545
95$3,386,119$184,964$0$2,235,721
96$3,633,337$95,861$0$2,360,133
97$3,902,678$0$0$2,495,872
98$4,196,302$0$0$2,644,419
99$4,516,586$0$0$2,847,945
100$4,866,146$0$0$3,070,144