Can I retire at age 74 with 923,000?

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 $923,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$76,220$75,542$74,879$74,233$73,601$72,863
2 years$37,733$37,030$36,349$35,689$35,048$34,305
3 years$24,905$24,200$23,520$22,866$22,236$21,510
4 years$18,493$17,789$17,117$16,474$15,859$15,156
5 years$14,646$13,947$13,283$12,653$12,056$11,379
6 years$12,083$11,389$10,735$10,119$9,539$8,888
7 years$10,253$9,564$8,921$8,319$7,758$7,134
8 years$8,880$8,198$7,565$6,979$6,436$5,838
9 years$7,814$7,138$6,516$5,945$5,420$4,848
10 years$6,961$6,292$5,681$5,124$4,618$4,072
11 years$6,264$5,601$5,001$4,460$3,972$3,452
12 years$5,683$5,027$4,439$3,912$3,442$2,947
13 years$5,192$4,543$3,966$3,453$3,001$2,530
14 years$4,772$4,130$3,563$3,066$2,631$2,184
15 years$4,407$3,773$3,217$2,734$2,317$1,892
16 years$4,089$3,461$2,917$2,448$2,047$1,646
17 years$3,809$3,188$2,654$2,199$1,815$1,435
18 years$3,560$2,946$2,423$1,982$1,614$1,255
19 years$3,337$2,730$2,218$1,791$1,439$1,100
20 years$3,137$2,537$2,036$1,622$1,285$965
21 years$2,956$2,363$1,872$1,472$1,150$849
22 years$2,792$2,206$1,726$1,339$1,031$747
23 years$2,642$2,063$1,593$1,219$925$659
24 years$2,505$1,933$1,474$1,112$832$582
25 years$2,380$1,814$1,365$1,015$748$514
26 years$2,264$1,705$1,266$928$674$454
27 years$2,157$1,604$1,175$850$608$402
28 years$2,057$1,512$1,093$779$548$356
29 years$1,965$1,426$1,017$714$495$315
30 years$1,879$1,347$947$655$447$279
31 years$1,799$1,273$883$602$405$248
32 years$1,723$1,205$824$553$366$220
33 years$1,653$1,141$769$509$331$195
34 years$1,587$1,081$719$468$300$173
35 years$1,525$1,026$672$431$272$154
36 years$1,466$973$629$397$246$136
37 years$1,411$925$588$366$223$121
38 years$1,358$879$551$337$202$108
39 years$1,309$836$516$311$183$96
40 years$1,262$795$484$287$166$85
41 years$1,217$757$454$264$151$76
42 years$1,175$721$426$244$137$67
43 years$1,135$687$399$225$124$60
44 years$1,097$655$375$208$113$53
45 years$1,060$624$352$192$102$47
46 years$1,025$595$331$177$93$42
47 years$992$568$311$164$84$37
48 years$961$542$292$151$77$33
49 years$930$518$274$140$70$29
50 years$901$495$258$129$63$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $923,000, adding $2,358 every year, while hoping to spend $28,917 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: 66/6/28 Blend
73$923,000$923,000$923,000$923,000
74$1,019,578$970,659$956,353$1,079,209
75$1,092,808$987,454$957,623$1,136,539
76$1,172,538$1,004,103$957,967$1,195,752
77$1,259,400$1,020,567$957,322$1,259,858
78$1,354,091$1,036,808$955,625$1,329,342
79$1,457,377$1,052,780$952,807$1,404,739
80$1,570,102$1,068,438$948,798$1,486,638
81$1,693,192$1,083,731$943,523$1,575,690
82$1,827,670$1,098,606$936,903$1,672,613
83$1,974,660$1,113,006$928,858$1,778,196
84$2,135,402$1,126,870$919,301$1,893,312
85$2,311,258$1,140,132$908,142$2,018,923
86$2,503,730$1,152,721$895,288$2,156,090
87$2,714,470$1,164,565$880,641$2,305,981
88$2,945,300$1,175,583$864,096$2,469,886
89$3,198,224$1,185,690$845,547$2,649,227
90$3,475,451$1,194,796$824,880$2,845,571
91$3,779,411$1,202,805$801,978$3,060,647
92$4,112,783$1,209,615$776,716$3,296,360
93$4,478,517$1,215,116$748,967$3,554,813
94$4,879,862$1,219,194$718,594$3,838,321
95$5,320,398$1,221,723$685,456$4,149,440
96$5,804,066$1,222,575$649,406$4,490,987
97$6,335,209$1,221,610$610,289$4,866,065
98$6,918,611$1,218,680$567,945$5,278,100
99$7,559,542$1,213,628$522,204$5,730,865
100$8,263,808$1,206,289$472,891$6,228,523