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%13.2%
1 years$77,459$76,769$76,096$75,439$74,797$73,802
2 years$38,346$37,632$36,940$36,269$35,618$34,616
3 years$25,310$24,593$23,903$23,238$22,597$21,621
4 years$18,793$18,078$17,395$16,741$16,117$15,173
5 years$14,884$14,174$13,499$12,859$12,252$11,344
6 years$12,279$11,574$10,909$10,283$9,694$8,823
7 years$10,419$9,720$9,066$8,455$7,884$7,050
8 years$9,025$8,332$7,688$7,092$6,541$5,743
9 years$7,941$7,254$6,622$6,041$5,508$4,747
10 years$7,074$6,394$5,773$5,208$4,693$3,968
11 years$6,365$5,692$5,083$4,532$4,036$3,346
12 years$5,775$5,109$4,511$3,975$3,498$2,842
13 years$5,276$4,617$4,030$3,510$3,050$2,428
14 years$4,849$4,197$3,621$3,115$2,674$2,084
15 years$4,479$3,834$3,269$2,778$2,354$1,797
16 years$4,156$3,518$2,964$2,488$2,081$1,554
17 years$3,871$3,240$2,697$2,235$1,845$1,347
18 years$3,618$2,993$2,462$2,014$1,640$1,171
19 years$3,391$2,774$2,254$1,820$1,462$1,021
20 years$3,188$2,578$2,069$1,649$1,306$891
21 years$3,004$2,401$1,903$1,496$1,169$778
22 years$2,837$2,242$1,754$1,360$1,048$681
23 years$2,685$2,096$1,619$1,239$940$597
24 years$2,546$1,964$1,497$1,130$845$524
25 years$2,418$1,843$1,387$1,032$761$460
26 years$2,300$1,732$1,286$944$685$404
27 years$2,192$1,630$1,194$864$618$355
28 years$2,091$1,536$1,110$791$557$312
29 years$1,997$1,449$1,033$726$503$275
30 years$1,909$1,369$963$666$455$242
31 years$1,828$1,294$897$612$411$213
32 years$1,751$1,224$837$562$372$188
33 years$1,680$1,159$782$517$337$166
34 years$1,613$1,099$730$476$305$146
35 years$1,549$1,042$683$438$276$129
36 years$1,490$989$639$403$250$114
37 years$1,434$940$598$371$227$100
38 years$1,380$893$560$342$205$88
39 years$1,330$849$525$316$186$78
40 years$1,282$808$492$291$169$69
41 years$1,237$769$461$269$153$61
42 years$1,194$732$432$248$139$54
43 years$1,153$698$406$229$126$47
44 years$1,114$665$381$211$115$42
45 years$1,077$634$358$195$104$37
46 years$1,042$605$336$180$94$33
47 years$1,008$577$316$167$86$29
48 years$976$551$297$154$78$25
49 years$945$526$279$142$71$22
50 years$916$503$262$131$64$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $938,000, adding $5,079 every year, while hoping to spend $54,353 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: 64/21/15 Blend
73$938,000$938,000$938,000$938,000
74$1,038,915$989,201$974,662$1,101,312
75$1,087,053$979,841$949,482$1,134,380
76$1,138,280$968,200$921,637$1,163,775
77$1,192,852$954,110$890,980$1,194,559
78$1,251,053$937,391$857,357$1,226,868
79$1,313,191$917,854$820,609$1,260,853
80$1,379,605$895,297$780,568$1,296,683
81$1,450,665$869,507$737,058$1,334,546
82$1,526,780$840,260$689,896$1,374,650
83$1,608,395$807,316$638,891$1,417,230
84$1,696,000$770,423$583,843$1,462,543
85$1,790,132$729,314$524,542$1,510,878
86$1,891,382$683,707$460,770$1,562,555
87$2,000,397$633,303$392,300$1,617,929
88$2,117,889$577,786$318,893$1,677,397
89$2,244,638$516,822$240,301$1,741,397
90$2,381,504$450,059$156,263$1,810,417
91$2,529,429$377,123$66,510$1,884,998
92$2,689,450$297,622$0$1,965,742
93$2,862,707$211,139$0$2,058,000
94$3,050,453$117,234$0$2,169,490
95$3,254,065$15,445$0$2,290,426
96$3,475,058$0$0$2,421,767
97$3,715,099$0$0$2,586,464
98$3,976,019$0$0$2,769,424
99$4,259,836$0$0$2,968,499
100$4,568,767$0$0$3,185,252