Can I retire at age 74 with 894,000?

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 $894,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$73,826$73,168$72,527$71,900$71,289$69,907
2 years$36,547$35,867$35,207$34,567$33,947$32,560
3 years$24,123$23,439$22,781$22,148$21,537$20,189
4 years$17,912$17,230$16,579$15,956$15,361$14,061
5 years$14,186$13,509$12,866$12,256$11,677$10,430
6 years$11,703$11,031$10,398$9,801$9,240$8,047
7 years$9,930$9,264$8,640$8,058$7,514$6,376
8 years$8,601$7,941$7,328$6,760$6,234$5,149
9 years$7,568$6,914$6,311$5,758$5,250$4,218
10 years$6,742$6,094$5,502$4,963$4,473$3,494
11 years$6,067$5,425$4,844$4,320$3,847$2,919
12 years$5,504$4,869$4,299$3,789$3,334$2,455
13 years$5,029$4,401$3,841$3,345$2,907$2,077
14 years$4,622$4,000$3,451$2,969$2,548$1,765
15 years$4,269$3,654$3,116$2,648$2,244$1,506
16 years$3,961$3,353$2,825$2,371$1,983$1,289
17 years$3,689$3,088$2,571$2,130$1,758$1,106
18 years$3,448$2,853$2,347$1,920$1,563$951
19 years$3,232$2,644$2,148$1,735$1,393$819
20 years$3,038$2,457$1,972$1,571$1,245$707
21 years$2,863$2,289$1,813$1,426$1,114$611
22 years$2,704$2,136$1,671$1,297$998$529
23 years$2,559$1,998$1,543$1,181$896$458
24 years$2,427$1,872$1,427$1,077$806$397
25 years$2,305$1,757$1,322$984$725$344
26 years$2,193$1,651$1,226$899$653$299
27 years$2,089$1,554$1,138$823$589$260
28 years$1,993$1,464$1,058$754$531$226
29 years$1,903$1,381$985$692$480$196
30 years$1,820$1,305$917$635$433$171
31 years$1,742$1,233$855$583$392$148
32 years$1,669$1,167$798$536$354$129
33 years$1,601$1,105$745$493$321$112
34 years$1,537$1,047$696$453$290$98
35 years$1,477$993$651$417$263$85
36 years$1,420$943$609$384$238$74
37 years$1,366$896$570$354$216$65
38 years$1,316$851$534$326$196$56
39 years$1,268$809$500$301$178$49
40 years$1,222$770$469$278$161$43
41 years$1,179$733$439$256$146$37
42 years$1,138$698$412$236$133$32
43 years$1,099$665$387$218$120$28
44 years$1,062$634$363$201$109$25
45 years$1,027$605$341$186$99$21
46 years$993$577$320$172$90$19
47 years$961$550$301$159$82$16
48 years$930$525$283$147$74$14
49 years$901$502$266$136$67$12
50 years$873$479$250$125$61$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $894,000, adding $3,349 every year, while hoping to spend $26,460 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: 73/17/10 Blend
73$894,000$894,000$894,000$894,000
74$988,642$941,260$927,403$1,058,728
75$1,061,331$959,229$930,318$1,123,431
76$1,140,546$977,191$932,444$1,190,656
77$1,226,927$995,119$933,726$1,263,554
78$1,321,176$1,012,981$934,107$1,342,679
79$1,424,064$1,030,746$933,528$1,428,641
80$1,536,443$1,048,376$931,926$1,522,110
81$1,659,249$1,065,836$929,234$1,623,827
82$1,793,512$1,083,082$925,384$1,734,607
83$1,940,369$1,100,072$920,303$1,855,347
84$2,101,069$1,116,757$913,915$1,987,037
85$2,276,988$1,133,088$906,141$2,130,766
86$2,469,641$1,149,010$896,897$2,287,736
87$2,680,698$1,164,465$886,097$2,459,270
88$2,911,995$1,179,390$873,647$2,646,825
89$3,165,558$1,193,719$859,454$2,852,009
90$3,443,615$1,207,382$843,416$3,076,592
91$3,748,622$1,220,302$825,428$3,322,524
92$4,083,283$1,232,398$805,381$3,591,956
93$4,450,577$1,243,584$783,161$3,887,257
94$4,853,785$1,253,769$758,646$4,211,038
95$5,296,521$1,262,854$731,711$4,566,176
96$5,782,768$1,270,735$702,224$4,955,842
97$6,316,911$1,277,302$670,049$5,383,531
98$6,903,782$1,282,436$635,042$5,853,094
99$7,548,704$1,286,011$597,052$6,368,775
100$8,257,541$1,287,895$555,923$6,935,252