Can I retire at age 74 with 938,000?

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 $938,000?

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$77,459$76,769$76,096$75,439$74,797$73,347
2 years$38,346$37,632$36,940$36,269$35,618$34,163
3 years$25,310$24,593$23,903$23,238$22,597$21,183
4 years$18,793$18,078$17,395$16,741$16,117$14,753
5 years$14,884$14,174$13,499$12,859$12,252$10,943
6 years$12,279$11,574$10,909$10,283$9,694$8,443
7 years$10,419$9,720$9,066$8,455$7,884$6,689
8 years$9,025$8,332$7,688$7,092$6,541$5,402
9 years$7,941$7,254$6,622$6,041$5,508$4,426
10 years$7,074$6,394$5,773$5,208$4,693$3,666
11 years$6,365$5,692$5,083$4,532$4,036$3,063
12 years$5,775$5,109$4,511$3,975$3,498$2,576
13 years$5,276$4,617$4,030$3,510$3,050$2,179
14 years$4,849$4,197$3,621$3,115$2,674$1,852
15 years$4,479$3,834$3,269$2,778$2,354$1,580
16 years$4,156$3,518$2,964$2,488$2,081$1,352
17 years$3,871$3,240$2,697$2,235$1,845$1,160
18 years$3,618$2,993$2,462$2,014$1,640$998
19 years$3,391$2,774$2,254$1,820$1,462$860
20 years$3,188$2,578$2,069$1,649$1,306$742
21 years$3,004$2,401$1,903$1,496$1,169$641
22 years$2,837$2,242$1,754$1,360$1,048$555
23 years$2,685$2,096$1,619$1,239$940$480
24 years$2,546$1,964$1,497$1,130$845$417
25 years$2,418$1,843$1,387$1,032$761$361
26 years$2,300$1,732$1,286$944$685$314
27 years$2,192$1,630$1,194$864$618$272
28 years$2,091$1,536$1,110$791$557$237
29 years$1,997$1,449$1,033$726$503$206
30 years$1,909$1,369$963$666$455$179
31 years$1,828$1,294$897$612$411$156
32 years$1,751$1,224$837$562$372$136
33 years$1,680$1,159$782$517$337$118
34 years$1,613$1,099$730$476$305$103
35 years$1,549$1,042$683$438$276$89
36 years$1,490$989$639$403$250$78
37 years$1,434$940$598$371$227$68
38 years$1,380$893$560$342$205$59
39 years$1,330$849$525$316$186$51
40 years$1,282$808$492$291$169$45
41 years$1,237$769$461$269$153$39
42 years$1,194$732$432$248$139$34
43 years$1,153$698$406$229$126$30
44 years$1,114$665$381$211$115$26
45 years$1,077$634$358$195$104$23
46 years$1,042$605$336$180$94$20
47 years$1,008$577$316$167$86$17
48 years$976$551$297$154$78$15
49 years$945$526$279$142$71$13
50 years$916$503$262$131$64$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $938,000, adding $2,509 every year, while hoping to spend $38,889 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: 44/50/6 Blend
73$938,000$938,000$938,000$938,000
74$1,036,264$986,550$972,011$1,079,999
75$1,100,585$993,513$963,196$1,117,431
76$1,170,164$999,515$952,782$1,153,764
77$1,245,495$1,004,465$940,675$1,192,232
78$1,327,124$1,008,272$926,775$1,233,046
79$1,415,648$1,010,834$910,979$1,276,436
80$1,511,725$1,012,047$893,179$1,322,660
81$1,616,081$1,011,797$873,260$1,372,002
82$1,729,511$1,009,965$851,104$1,424,779
83$1,852,891$1,006,423$826,586$1,481,342
84$1,987,186$1,001,038$799,577$1,542,078
85$2,133,456$993,666$769,939$1,607,420
86$2,292,868$984,155$737,532$1,677,844
87$2,466,707$972,345$702,205$1,753,881
88$2,656,386$958,065$663,804$1,836,117
89$2,863,462$941,134$622,166$1,925,201
90$3,089,647$921,362$577,121$2,021,854
91$3,336,828$898,546$528,492$2,126,872
92$3,607,081$872,471$476,092$2,241,140
93$3,902,691$842,910$419,729$2,365,633
94$4,226,175$809,622$359,200$2,501,434
95$4,580,306$772,354$294,294$2,649,740
96$4,968,134$730,836$224,789$2,811,877
97$5,393,020$684,784$150,457$2,989,311
98$5,858,667$633,897$71,055$3,183,664
99$6,369,149$577,856$0$3,396,729
100$6,928,956$516,326$0$3,631,368