Can I retire at age 74 with 947,000?

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 $947,000?

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$78,202$77,506$76,826$76,163$75,515$74,510
2 years$38,714$37,993$37,294$36,617$35,960$34,948
3 years$25,553$24,829$24,132$23,461$22,814$21,828
4 years$18,974$18,252$17,562$16,902$16,271$15,319
5 years$15,027$14,310$13,629$12,982$12,369$11,452
6 years$12,397$11,685$11,014$10,382$9,787$8,907
7 years$10,519$9,813$9,153$8,536$7,960$7,117
8 years$9,111$8,412$7,762$7,160$6,603$5,798
9 years$8,017$7,324$6,686$6,099$5,561$4,792
10 years$7,142$6,456$5,829$5,257$4,738$4,006
11 years$6,427$5,747$5,131$4,576$4,075$3,378
12 years$5,831$5,158$4,554$4,013$3,531$2,870
13 years$5,327$4,661$4,069$3,543$3,079$2,452
14 years$4,896$4,237$3,656$3,145$2,699$2,104
15 years$4,522$3,871$3,301$2,805$2,377$1,814
16 years$4,196$3,551$2,993$2,512$2,101$1,569
17 years$3,908$3,271$2,723$2,257$1,863$1,360
18 years$3,652$3,022$2,486$2,034$1,656$1,183
19 years$3,424$2,801$2,276$1,838$1,476$1,030
20 years$3,219$2,603$2,088$1,664$1,318$899
21 years$3,033$2,424$1,921$1,510$1,180$786
22 years$2,865$2,263$1,771$1,373$1,058$688
23 years$2,711$2,117$1,635$1,251$949$603
24 years$2,571$1,983$1,512$1,141$853$529
25 years$2,442$1,861$1,400$1,042$768$464
26 years$2,323$1,749$1,299$953$692$408
27 years$2,213$1,646$1,206$872$624$358
28 years$2,111$1,551$1,121$799$563$315
29 years$2,016$1,463$1,043$733$508$278
30 years$1,928$1,382$972$672$459$244
31 years$1,845$1,306$906$617$415$215
32 years$1,768$1,236$845$567$375$190
33 years$1,696$1,171$789$522$340$167
34 years$1,628$1,109$737$480$308$147
35 years$1,564$1,052$689$442$279$130
36 years$1,504$999$645$407$252$115
37 years$1,447$949$604$375$229$101
38 years$1,394$902$565$346$207$89
39 years$1,343$857$530$319$188$79
40 years$1,295$816$496$294$171$70
41 years$1,249$776$465$271$155$61
42 years$1,206$739$437$250$140$54
43 years$1,164$705$410$231$127$48
44 years$1,125$672$385$213$116$42
45 years$1,088$640$361$197$105$37
46 years$1,052$611$339$182$95$33
47 years$1,018$583$319$168$87$29
48 years$985$557$299$155$79$26
49 years$954$531$281$144$71$23
50 years$925$508$265$133$65$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $947,000, adding $2,860 every year, while hoping to spend $35,430 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: 66/21/13 Blend
73$947,000$947,000$947,000$947,000
74$1,046,544$996,353$981,675$1,112,310
75$1,115,594$1,007,477$976,863$1,167,668
76$1,190,500$1,017,959$970,704$1,223,727
77$1,271,822$1,027,729$963,113$1,284,106
78$1,360,174$1,036,715$954,004$1,349,226
79$1,456,236$1,044,838$943,287$1,419,550
80$1,560,752$1,052,014$930,866$1,495,589
81$1,674,541$1,058,156$916,643$1,577,906
82$1,798,507$1,063,168$900,513$1,667,122
83$1,933,641$1,066,950$882,367$1,763,925
84$2,081,038$1,069,396$862,092$1,869,069
85$2,241,899$1,070,391$839,567$1,983,388
86$2,417,549$1,069,817$814,669$2,107,803
87$2,609,445$1,067,544$787,266$2,243,327
88$2,819,191$1,063,436$757,223$2,391,080
89$3,048,555$1,057,351$724,396$2,552,295
90$3,299,480$1,049,134$688,636$2,728,333
91$3,574,109$1,038,623$649,787$2,920,697
92$3,874,800$1,025,647$607,686$3,131,040
93$4,204,149$1,010,024$562,163$3,361,189
94$4,565,017$991,559$513,040$3,613,158
95$4,960,552$970,050$460,131$3,889,167
96$5,394,224$945,278$403,241$4,191,666
97$5,869,853$917,015$342,168$4,523,356
98$6,391,647$885,017$276,700$4,887,215
99$6,964,241$849,029$206,615$5,286,528
100$7,592,739$808,777$131,682$5,724,918