Can I retire at age 74 with 896,000?

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 $896,000?

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$73,991$73,332$72,689$72,061$71,448$70,761
2 years$36,629$35,947$35,286$34,645$34,023$33,331
3 years$24,177$23,492$22,832$22,197$21,586$20,910
4 years$17,952$17,269$16,616$15,992$15,395$14,741
5 years$14,218$13,539$12,895$12,283$11,703$11,072
6 years$11,729$11,056$10,421$9,823$9,260$8,654
7 years$9,953$9,285$8,660$8,076$7,531$6,949
8 years$8,621$7,959$7,344$6,775$6,248$5,690
9 years$7,585$6,929$6,326$5,771$5,261$4,729
10 years$6,757$6,108$5,515$4,974$4,483$3,974
11 years$6,080$5,437$4,855$4,329$3,856$3,370
12 years$5,517$4,880$4,309$3,797$3,341$2,879
13 years$5,040$4,410$3,850$3,352$2,914$2,474
14 years$4,632$4,009$3,459$2,976$2,554$2,137
15 years$4,279$3,662$3,123$2,654$2,249$1,853
16 years$3,970$3,360$2,831$2,376$1,987$1,612
17 years$3,697$3,094$2,576$2,135$1,762$1,407
18 years$3,456$2,859$2,352$1,924$1,567$1,231
19 years$3,239$2,650$2,153$1,739$1,397$1,080
20 years$3,045$2,463$1,976$1,575$1,247$948
21 years$2,870$2,294$1,818$1,429$1,116$835
22 years$2,710$2,141$1,675$1,299$1,001$735
23 years$2,565$2,003$1,547$1,183$898$649
24 years$2,432$1,876$1,430$1,079$807$573
25 years$2,310$1,761$1,325$986$726$507
26 years$2,197$1,655$1,229$901$654$448
27 years$2,093$1,557$1,141$825$590$397
28 years$1,997$1,468$1,061$756$532$352
29 years$1,907$1,384$987$693$481$312
30 years$1,824$1,308$919$636$434$277
31 years$1,746$1,236$857$584$393$245
32 years$1,673$1,170$800$537$355$218
33 years$1,605$1,108$747$494$321$194
34 years$1,540$1,050$698$454$291$172
35 years$1,480$996$652$418$264$153
36 years$1,423$945$610$385$239$136
37 years$1,369$898$571$355$216$121
38 years$1,319$853$535$327$196$107
39 years$1,271$811$501$302$178$95
40 years$1,225$772$470$278$161$85
41 years$1,182$735$440$257$146$75
42 years$1,141$700$413$237$133$67
43 years$1,102$667$388$219$121$60
44 years$1,065$635$364$202$109$53
45 years$1,029$606$342$186$99$47
46 years$995$578$321$172$90$42
47 years$963$552$301$159$82$37
48 years$932$527$283$147$74$33
49 years$903$503$266$136$68$30
50 years$875$480$250$126$61$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $896,000, adding $4,203 every year, while hoping to spend $58,614 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: 67/7/26 Blend
73$896,000$896,000$896,000$896,000
74$991,727$944,239$930,351$1,051,213
75$1,030,519$928,142$899,153$1,075,657
76$1,071,302$909,292$864,946$1,095,351
77$1,114,219$887,492$827,566$1,115,557
78$1,159,424$862,533$786,843$1,136,326
79$1,207,083$834,195$742,600$1,157,719
80$1,257,380$802,244$694,652$1,179,803
81$1,310,513$766,434$642,803$1,202,656
82$1,366,699$726,504$586,850$1,226,364
83$1,426,175$682,175$526,583$1,251,025
84$1,489,200$633,157$461,778$1,276,748
85$1,556,057$579,140$392,206$1,303,659
86$1,627,054$519,797$317,625$1,331,896
87$1,702,530$454,784$237,781$1,361,617
88$1,782,854$383,734$152,413$1,392,996
89$1,868,431$306,263$61,245$1,426,231
90$1,959,704$221,963$0$1,461,542
91$2,057,159$130,405$0$1,509,177
92$2,161,328$31,133$0$1,578,192
93$2,272,793$0$0$1,651,974
94$2,392,195$0$0$1,736,837
95$2,520,235$0$0$1,830,447
96$2,657,681$0$0$1,930,973
97$2,805,380$0$0$2,039,039
98$2,964,257$0$0$2,155,327
99$3,135,330$0$0$2,280,589
100$3,319,717$0$0$2,415,647