Can I retire at age 74 with 897,000?

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 $897,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$74,073$73,414$72,770$72,142$71,528$70,605
2 years$36,670$35,987$35,325$34,683$34,061$33,132
3 years$24,204$23,518$22,858$22,222$21,610$20,704
4 years$17,972$17,288$16,635$16,010$15,412$14,537
5 years$14,234$13,554$12,909$12,297$11,716$10,874
6 years$11,743$11,068$10,432$9,834$9,271$8,462
7 years$9,964$9,295$8,669$8,085$7,539$6,765
8 years$8,630$7,967$7,352$6,782$6,255$5,514
9 years$7,594$6,937$6,333$5,777$5,267$4,561
10 years$6,765$6,115$5,521$4,980$4,488$3,815
11 years$6,087$5,444$4,861$4,334$3,860$3,219
12 years$5,523$4,886$4,314$3,802$3,345$2,736
13 years$5,046$4,415$3,854$3,356$2,917$2,339
14 years$4,637$4,013$3,463$2,979$2,557$2,009
15 years$4,283$3,666$3,126$2,657$2,251$1,733
16 years$3,974$3,364$2,835$2,379$1,990$1,500
17 years$3,701$3,098$2,579$2,138$1,764$1,301
18 years$3,459$2,863$2,355$1,926$1,569$1,132
19 years$3,243$2,653$2,156$1,741$1,398$987
20 years$3,049$2,465$1,978$1,576$1,249$862
21 years$2,873$2,296$1,820$1,431$1,118$754
22 years$2,713$2,144$1,677$1,301$1,002$661
23 years$2,568$2,005$1,548$1,185$899$579
24 years$2,435$1,878$1,432$1,081$808$508
25 years$2,313$1,763$1,326$987$727$447
26 years$2,200$1,657$1,230$902$655$393
27 years$2,096$1,559$1,142$826$591$346
28 years$1,999$1,469$1,062$757$533$304
29 years$1,909$1,386$988$694$481$268
30 years$1,826$1,309$920$637$435$236
31 years$1,748$1,237$858$585$393$208
32 years$1,675$1,171$801$538$356$184
33 years$1,606$1,109$748$494$322$162
34 years$1,542$1,051$698$455$291$143
35 years$1,482$997$653$419$264$126
36 years$1,425$946$611$386$239$111
37 years$1,371$899$572$355$217$98
38 years$1,320$854$535$327$196$87
39 years$1,272$812$502$302$178$77
40 years$1,226$773$470$278$162$68
41 years$1,183$735$441$257$147$60
42 years$1,142$700$414$237$133$53
43 years$1,103$667$388$219$121$47
44 years$1,066$636$364$202$110$41
45 years$1,030$607$342$187$99$36
46 years$997$579$321$172$90$32
47 years$964$552$302$159$82$28
48 years$933$527$284$147$74$25
49 years$904$503$267$136$68$22
50 years$876$481$251$126$61$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $897,000, adding $6,027 every year, while hoping to spend $23,610 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: 44/48/8 Blend
73$897,000$897,000$897,000$897,000
74$994,711$947,170$933,266$1,035,955
75$1,071,051$968,460$939,410$1,086,426
76$1,154,385$990,003$944,968$1,138,196
77$1,245,404$1,011,784$949,896$1,193,763
78$1,344,865$1,033,792$954,147$1,253,482
79$1,453,603$1,056,009$957,672$1,317,746
80$1,572,536$1,078,418$960,420$1,386,989
81$1,702,676$1,101,002$962,335$1,461,687
82$1,845,137$1,123,739$963,362$1,542,364
83$2,001,146$1,146,608$963,439$1,629,601
84$2,172,053$1,169,582$962,505$1,724,034
85$2,359,348$1,192,637$960,494$1,826,365
86$2,564,667$1,215,742$957,336$1,937,370
87$2,789,815$1,238,866$952,960$2,057,901
88$3,036,781$1,261,975$947,288$2,188,898
89$3,307,753$1,285,032$940,243$2,331,398
90$3,605,143$1,307,997$931,740$2,486,544
91$3,931,606$1,330,828$921,692$2,655,594
92$4,290,069$1,353,477$910,008$2,839,936
93$4,683,755$1,375,896$896,591$3,041,101
94$5,116,213$1,398,030$881,343$3,260,774
95$5,591,356$1,419,823$864,157$3,500,815
96$6,113,492$1,441,212$844,923$3,763,272
97$6,687,368$1,462,131$823,528$4,050,405
98$7,318,214$1,482,510$799,851$4,364,704
99$8,011,791$1,502,272$773,765$4,708,915
100$8,774,447$1,521,337$745,140$5,086,063