Can I retire at age 74 with 943,000?

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 $943,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$77,872$77,178$76,502$75,841$75,196$73,859
2 years$38,551$37,833$37,137$36,462$35,808$34,465
3 years$25,445$24,724$24,030$23,362$22,718$21,412
4 years$18,894$18,175$17,488$16,831$16,203$14,943
5 years$14,964$14,249$13,571$12,928$12,317$11,107
6 years$12,345$11,636$10,967$10,338$9,746$8,588
7 years$10,475$9,772$9,114$8,500$7,926$6,820
8 years$9,073$8,376$7,729$7,130$6,575$5,521
9 years$7,983$7,293$6,657$6,073$5,537$4,533
10 years$7,112$6,428$5,804$5,235$4,718$3,764
11 years$6,399$5,723$5,110$4,556$4,058$3,153
12 years$5,806$5,136$4,535$3,996$3,516$2,659
13 years$5,305$4,642$4,052$3,528$3,066$2,255
14 years$4,875$4,219$3,640$3,132$2,688$1,922
15 years$4,503$3,854$3,287$2,793$2,367$1,644
16 years$4,178$3,536$2,980$2,501$2,092$1,411
17 years$3,891$3,257$2,712$2,247$1,855$1,214
18 years$3,637$3,009$2,475$2,025$1,649$1,047
19 years$3,409$2,789$2,266$1,830$1,470$905
20 years$3,205$2,592$2,080$1,657$1,313$783
21 years$3,020$2,414$1,913$1,504$1,175$679
22 years$2,853$2,254$1,763$1,368$1,053$589
23 years$2,700$2,108$1,628$1,245$945$512
24 years$2,560$1,975$1,505$1,136$850$445
25 years$2,431$1,853$1,394$1,037$765$387
26 years$2,313$1,742$1,293$949$689$337
27 years$2,203$1,639$1,201$868$621$294
28 years$2,102$1,545$1,116$795$560$256
29 years$2,007$1,457$1,039$729$506$224
30 years$1,920$1,376$968$669$457$195
31 years$1,837$1,301$902$615$413$170
32 years$1,761$1,231$842$565$374$149
33 years$1,689$1,166$786$520$338$130
34 years$1,621$1,105$734$478$306$113
35 years$1,558$1,048$687$440$277$99
36 years$1,498$995$642$405$251$87
37 years$1,441$945$601$373$228$76
38 years$1,388$898$563$344$207$66
39 years$1,337$854$527$317$187$58
40 years$1,289$812$494$293$170$51
41 years$1,244$773$464$270$154$44
42 years$1,201$736$435$249$140$39
43 years$1,160$702$408$230$127$34
44 years$1,120$669$383$212$115$30
45 years$1,083$638$360$196$105$26
46 years$1,048$608$338$181$95$23
47 years$1,014$581$317$167$86$20
48 years$981$554$298$155$78$17
49 years$950$529$280$143$71$15
50 years$921$506$263$132$65$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $943,000, adding $6,905 every year, while hoping to spend $46,405 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: 68/27/5 Blend
73$943,000$943,000$943,000$943,000
74$1,046,309$996,330$981,713$1,116,382
75$1,103,657$995,775$965,226$1,163,109
76$1,165,301$993,638$946,631$1,207,867
77$1,231,627$989,792$925,809$1,255,539
78$1,303,064$984,103$902,635$1,306,402
79$1,380,081$976,428$876,977$1,360,759
80$1,463,192$966,617$848,699$1,418,948
81$1,552,965$954,508$817,658$1,481,339
82$1,650,021$939,933$783,703$1,548,344
83$1,755,045$922,711$746,678$1,620,417
84$1,868,788$902,652$706,420$1,698,057
85$1,992,076$879,554$662,757$1,781,819
86$2,125,819$853,203$615,511$1,872,315
87$2,271,016$823,373$564,494$1,970,219
88$2,428,766$789,826$509,512$2,076,278
89$2,600,280$752,307$450,360$2,191,317
90$2,786,887$710,548$386,825$2,316,244
91$2,990,051$664,267$318,686$2,452,067
92$3,211,384$613,163$245,709$2,599,895
93$3,452,657$556,920$167,652$2,760,954
94$3,715,822$495,203$84,263$2,936,599
95$4,003,027$427,659$0$3,128,326
96$4,316,634$353,913$0$3,338,038
97$4,659,246$273,570$0$3,572,119
98$5,033,727$186,213$0$3,828,099
99$5,443,232$91,402$0$4,108,215
100$5,891,232$0$0$4,414,938