Can I retire at age 74 with 941,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$77,707$77,015$76,339$75,680$75,037$74,533
2 years$38,469$37,752$37,058$36,385$35,732$35,223
3 years$25,391$24,672$23,979$23,312$22,670$22,173
4 years$18,854$18,136$17,451$16,795$16,168$15,686
5 years$14,932$14,219$13,542$12,900$12,291$11,826
6 years$12,319$11,611$10,944$10,316$9,725$9,278
7 years$10,453$9,751$9,095$8,482$7,909$7,479
8 years$9,054$8,358$7,713$7,115$6,562$6,149
9 years$7,966$7,277$6,643$6,060$5,526$5,130
10 years$7,097$6,415$5,792$5,224$4,708$4,330
11 years$6,386$5,711$5,099$4,547$4,049$3,688
12 years$5,794$5,125$4,525$3,988$3,509$3,164
13 years$5,293$4,632$4,043$3,521$3,060$2,732
14 years$4,865$4,210$3,633$3,125$2,682$2,370
15 years$4,493$3,846$3,280$2,787$2,362$2,065
16 years$4,169$3,529$2,974$2,496$2,087$1,805
17 years$3,883$3,250$2,706$2,242$1,851$1,583
18 years$3,629$3,003$2,470$2,021$1,646$1,392
19 years$3,402$2,783$2,261$1,826$1,467$1,227
20 years$3,198$2,586$2,075$1,654$1,310$1,083
21 years$3,014$2,409$1,909$1,501$1,172$958
22 years$2,847$2,249$1,759$1,365$1,051$849
23 years$2,694$2,103$1,624$1,243$943$753
24 years$2,554$1,971$1,502$1,134$848$669
25 years$2,426$1,849$1,391$1,035$763$594
26 years$2,308$1,738$1,290$947$687$529
27 years$2,199$1,636$1,198$866$620$471
28 years$2,097$1,541$1,114$794$559$420
29 years$2,003$1,454$1,037$728$505$374
30 years$1,915$1,373$966$668$456$334
31 years$1,834$1,298$900$614$412$298
32 years$1,757$1,228$840$564$373$266
33 years$1,685$1,163$784$519$338$237
34 years$1,618$1,102$733$477$306$212
35 years$1,554$1,046$685$439$277$190
36 years$1,495$992$641$404$251$170
37 years$1,438$943$600$373$227$152
38 years$1,385$896$562$344$206$136
39 years$1,334$852$526$317$187$121
40 years$1,286$810$493$292$170$109
41 years$1,241$771$463$270$154$97
42 years$1,198$735$434$249$140$87
43 years$1,157$700$407$230$127$78
44 years$1,118$667$382$212$115$70
45 years$1,081$636$359$196$104$62
46 years$1,045$607$337$181$95$56
47 years$1,012$579$317$167$86$50
48 years$979$553$298$154$78$45
49 years$948$528$280$143$71$40
50 years$919$504$263$132$64$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $941,000, adding $6,653 every year, while hoping to spend $33,582 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: 70/5/25 Blend
73$941,000$941,000$941,000$941,000
74$1,043,845$993,972$979,386$1,109,840
75$1,114,586$1,006,945$976,465$1,167,838
76$1,191,417$1,019,429$972,320$1,226,782
77$1,274,924$1,031,364$966,875$1,290,514
78$1,365,751$1,042,685$960,050$1,359,507
79$1,464,607$1,053,327$951,761$1,434,283
80$1,572,273$1,063,215$941,921$1,515,417
81$1,689,606$1,072,274$930,436$1,603,543
82$1,817,551$1,080,421$917,211$1,699,362
83$1,957,148$1,087,568$902,145$1,803,644
84$2,109,542$1,093,624$885,132$1,917,241
85$2,275,992$1,098,488$866,060$2,041,091
86$2,457,885$1,102,056$844,815$2,176,227
87$2,656,748$1,104,215$821,275$2,323,791
88$2,874,262$1,104,847$795,313$2,485,041
89$3,112,278$1,103,826$766,798$2,661,364
90$3,372,834$1,101,017$735,589$2,854,289
91$3,658,175$1,096,279$701,543$3,065,503
92$3,970,772$1,089,459$664,507$3,296,865
93$4,313,346$1,080,399$624,324$3,550,426
94$4,688,897$1,068,927$580,828$3,828,448
95$5,100,724$1,054,864$533,846$4,133,422
96$5,552,465$1,038,020$483,197$4,468,097
97$6,048,125$1,018,191$428,692$4,835,504
98$6,592,115$995,164$370,135$5,238,983
99$7,189,295$968,712$307,319$5,682,220
100$7,845,019$938,594$240,030$6,169,274