Can I retire at age 74 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$77,789$77,097$76,421$75,761$75,116$74,518
2 years$38,510$37,792$37,097$36,423$35,770$35,167
3 years$25,418$24,698$24,004$23,337$22,694$22,105
4 years$18,874$18,155$17,469$16,813$16,185$15,615
5 years$14,948$14,234$13,557$12,914$12,304$11,753
6 years$12,332$11,623$10,956$10,327$9,736$9,206
7 years$10,464$9,761$9,104$8,491$7,918$7,409
8 years$9,063$8,367$7,721$7,123$6,568$6,081
9 years$7,975$7,285$6,650$6,067$5,532$5,065
10 years$7,104$6,421$5,798$5,230$4,713$4,267
11 years$6,393$5,717$5,104$4,551$4,054$3,628
12 years$5,800$5,131$4,530$3,992$3,513$3,107
13 years$5,299$4,637$4,047$3,525$3,063$2,677
14 years$4,870$4,215$3,636$3,129$2,685$2,318
15 years$4,498$3,850$3,283$2,790$2,364$2,015
16 years$4,173$3,533$2,977$2,498$2,089$1,758
17 years$3,887$3,253$2,709$2,245$1,853$1,539
18 years$3,633$3,006$2,473$2,023$1,647$1,350
19 years$3,406$2,786$2,264$1,828$1,468$1,187
20 years$3,202$2,589$2,077$1,656$1,312$1,046
21 years$3,017$2,412$1,911$1,503$1,174$923
22 years$2,850$2,251$1,761$1,366$1,052$816
23 years$2,697$2,105$1,626$1,244$944$722
24 years$2,557$1,973$1,504$1,135$849$640
25 years$2,429$1,851$1,393$1,036$764$568
26 years$2,310$1,740$1,292$948$688$504
27 years$2,201$1,637$1,200$867$620$447
28 years$2,100$1,543$1,115$795$560$398
29 years$2,005$1,456$1,038$729$505$354
30 years$1,918$1,375$967$669$457$315
31 years$1,836$1,299$901$614$413$280
32 years$1,759$1,230$841$564$373$250
33 years$1,687$1,164$785$519$338$222
34 years$1,619$1,104$734$478$306$198
35 years$1,556$1,047$686$440$277$177
36 years$1,496$994$642$405$251$158
37 years$1,440$944$600$373$228$141
38 years$1,386$897$562$344$206$125
39 years$1,336$853$527$317$187$112
40 years$1,288$811$494$292$170$100
41 years$1,242$772$463$270$154$89
42 years$1,199$736$434$249$140$80
43 years$1,158$701$408$230$127$71
44 years$1,119$668$383$212$115$63
45 years$1,082$637$359$196$104$57
46 years$1,047$608$337$181$95$51
47 years$1,013$580$317$167$86$45
48 years$980$554$298$155$78$40
49 years$949$529$280$143$71$36
50 years$920$505$263$132$65$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $942,000, adding $2,834 every year, while hoping to spend $55,645 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: 50/38/12 Blend
73$942,000$942,000$942,000$942,000
74$1,041,007$991,081$976,480$1,089,548
75$1,087,984$980,438$949,987$1,112,479
76$1,137,888$967,409$920,740$1,131,292
77$1,190,958$951,818$888,590$1,150,473
78$1,247,456$933,478$853,379$1,170,073
79$1,307,671$912,192$814,942$1,190,150
80$1,371,917$887,753$773,105$1,210,774
81$1,440,537$859,938$727,690$1,232,024
82$1,513,911$828,513$678,506$1,253,992
83$1,592,451$793,232$625,357$1,276,783
84$1,676,613$753,832$568,038$1,300,518
85$1,766,893$710,036$506,333$1,325,333
86$1,863,839$661,550$440,018$1,351,386
87$1,968,050$608,066$368,858$1,378,854
88$2,080,185$549,255$292,609$1,407,940
89$2,200,967$484,771$211,014$1,438,872
90$2,331,189$414,248$123,806$1,471,910
91$2,471,724$337,300$30,708$1,507,344
92$2,623,530$253,518$0$1,545,505
93$2,787,661$162,472$0$1,595,553
94$2,965,274$63,704$0$1,653,883
95$3,157,642$0$0$1,717,068
96$3,366,163$0$0$1,803,768
97$3,592,377$0$0$1,926,806
98$3,837,974$0$0$2,060,473
99$4,104,816$0$0$2,205,795
100$4,394,951$0$0$2,363,896