Can I retire at age 74 with 890,000?

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 $890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$73,495$72,841$72,202$71,579$70,970$70,287
2 years$36,384$35,706$35,050$34,413$33,795$33,107
3 years$24,015$23,334$22,679$22,049$21,441$20,770
4 years$17,832$17,153$16,505$15,885$15,292$14,642
5 years$14,123$13,448$12,808$12,201$11,625$10,998
6 years$11,651$10,982$10,351$9,757$9,198$8,596
7 years$9,886$9,222$8,602$8,022$7,481$6,903
8 years$8,563$7,905$7,295$6,729$6,206$5,652
9 years$7,534$6,883$6,283$5,732$5,226$4,697
10 years$6,712$6,067$5,478$4,941$4,453$3,948
11 years$6,040$5,401$4,823$4,300$3,830$3,348
12 years$5,480$4,848$4,280$3,772$3,319$2,860
13 years$5,006$4,381$3,824$3,330$2,894$2,458
14 years$4,601$3,982$3,436$2,956$2,537$2,122
15 years$4,250$3,638$3,102$2,636$2,234$1,840
16 years$3,943$3,338$2,812$2,360$1,974$1,601
17 years$3,673$3,074$2,559$2,121$1,750$1,398
18 years$3,432$2,840$2,336$1,911$1,556$1,223
19 years$3,218$2,632$2,139$1,727$1,387$1,072
20 years$3,025$2,446$1,963$1,564$1,239$942
21 years$2,851$2,278$1,805$1,420$1,109$829
22 years$2,692$2,127$1,664$1,291$994$731
23 years$2,548$1,989$1,536$1,175$892$645
24 years$2,416$1,864$1,421$1,072$802$569
25 years$2,295$1,749$1,316$979$722$503
26 years$2,183$1,644$1,221$895$650$445
27 years$2,079$1,547$1,133$819$586$394
28 years$1,984$1,458$1,054$751$529$349
29 years$1,895$1,375$980$688$477$310
30 years$1,812$1,299$913$632$431$275
31 years$1,734$1,228$851$580$390$244
32 years$1,662$1,162$794$533$353$216
33 years$1,594$1,100$742$490$319$192
34 years$1,530$1,043$693$451$289$171
35 years$1,470$989$648$415$262$152
36 years$1,414$939$606$383$237$135
37 years$1,360$892$567$352$215$120
38 years$1,310$847$531$325$195$107
39 years$1,262$806$498$300$177$95
40 years$1,217$767$467$276$160$84
41 years$1,174$730$437$255$145$75
42 years$1,133$695$410$235$132$67
43 years$1,094$662$385$217$120$59
44 years$1,057$631$361$201$109$53
45 years$1,022$602$339$185$99$47
46 years$989$574$319$171$90$42
47 years$957$548$299$158$81$37
48 years$926$523$281$146$74$33
49 years$897$499$265$135$67$29
50 years$869$477$249$125$61$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $890,000, adding $6,787 every year, while hoping to spend $41,700 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: 55/22/23 Blend
73$890,000$890,000$890,000$890,000
74$987,781$940,611$926,816$1,035,555
75$1,044,166$942,332$913,496$1,070,792
76$1,104,905$942,740$898,332$1,104,200
77$1,170,397$941,727$881,218$1,139,701
78$1,241,083$939,177$862,044$1,177,508
79$1,317,445$934,968$840,694$1,217,859
80$1,400,014$928,970$817,046$1,261,016
81$1,489,372$921,047$790,975$1,307,272
82$1,586,162$911,052$762,346$1,356,950
83$1,691,087$898,831$731,022$1,410,409
84$1,804,924$884,220$696,857$1,468,046
85$1,928,525$867,045$659,700$1,530,302
86$2,062,827$847,123$619,392$1,597,666
87$2,208,862$824,258$575,769$1,670,678
88$2,367,765$798,246$528,656$1,749,938
89$2,540,785$768,867$477,874$1,836,110
90$2,729,294$735,892$423,232$1,929,928
91$2,934,807$699,075$364,535$2,032,206
92$3,158,986$658,158$301,576$2,143,844
93$3,403,663$612,869$234,139$2,265,838
94$3,670,855$562,918$162,001$2,399,290
95$3,962,782$508,000$84,927$2,545,419
96$4,281,886$447,792$2,673$2,705,575
97$4,630,858$381,954$0$2,881,248
98$5,012,660$310,124$0$3,094,974
99$5,430,553$231,922$0$3,329,746
100$5,888,130$146,947$0$3,586,993