Can I retire at age 74 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$78,285$77,588$76,907$76,243$75,595$75,213
2 years$38,755$38,033$37,334$36,655$35,998$35,612
3 years$25,580$24,855$24,157$23,485$22,838$22,461
4 years$18,994$18,271$17,580$16,920$16,288$15,923
5 years$15,043$14,325$13,643$12,996$12,382$12,029
6 years$12,410$11,697$11,026$10,393$9,798$9,457
7 years$10,530$9,823$9,162$8,545$7,968$7,641
8 years$9,121$8,420$7,770$7,168$6,610$6,296
9 years$8,025$7,331$6,693$6,106$5,567$5,266
10 years$7,149$6,462$5,835$5,263$4,743$4,455
11 years$6,433$5,753$5,137$4,580$4,079$3,803
12 years$5,837$5,164$4,559$4,018$3,535$3,272
13 years$5,333$4,666$4,073$3,547$3,083$2,831
14 years$4,901$4,242$3,660$3,149$2,702$2,463
15 years$4,527$3,875$3,304$2,808$2,379$2,151
16 years$4,200$3,555$2,996$2,514$2,103$1,886
17 years$3,912$3,274$2,726$2,259$1,864$1,659
18 years$3,656$3,025$2,488$2,036$1,658$1,463
19 years$3,427$2,804$2,278$1,840$1,478$1,293
20 years$3,222$2,606$2,091$1,666$1,320$1,145
21 years$3,036$2,427$1,923$1,512$1,181$1,016
22 years$2,868$2,265$1,772$1,375$1,059$902
23 years$2,714$2,119$1,636$1,252$950$803
24 years$2,573$1,985$1,513$1,142$854$715
25 years$2,444$1,863$1,402$1,043$769$638
26 years$2,325$1,751$1,300$954$692$569
27 years$2,215$1,648$1,207$873$624$508
28 years$2,113$1,553$1,122$800$563$454
29 years$2,018$1,465$1,044$733$509$406
30 years$1,930$1,383$973$673$460$364
31 years$1,847$1,308$907$618$415$326
32 years$1,770$1,237$846$568$376$292
33 years$1,698$1,172$790$522$340$261
34 years$1,630$1,111$738$481$308$234
35 years$1,566$1,053$690$442$279$210
36 years$1,506$1,000$646$407$253$189
37 years$1,449$950$604$375$229$169
38 years$1,395$902$566$346$208$152
39 years$1,344$858$530$319$188$136
40 years$1,296$816$497$294$171$122
41 years$1,250$777$466$272$155$110
42 years$1,207$740$437$251$141$99
43 years$1,166$705$410$231$128$89
44 years$1,126$672$385$214$116$80
45 years$1,089$641$362$197$105$72
46 years$1,053$612$340$182$95$64
47 years$1,019$584$319$168$87$58
48 years$987$557$300$156$79$52
49 years$955$532$282$144$72$47
50 years$926$508$265$133$65$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $948,000, adding $6,158 every year, while hoping to spend $29,321 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: 70/19/11 Blend
73$948,000$948,000$948,000$948,000
74$1,051,048$1,000,804$986,110$1,121,818
75$1,127,058$1,018,646$987,947$1,187,386
76$1,209,837$1,036,380$988,864$1,254,964
77$1,300,047$1,053,969$988,797$1,328,136
78$1,398,413$1,071,374$987,682$1,407,445
79$1,505,733$1,088,553$985,452$1,493,494
80$1,622,887$1,105,462$982,034$1,586,942
81$1,750,844$1,122,052$977,354$1,688,519
82$1,890,668$1,138,271$971,334$1,799,028
83$2,043,534$1,154,063$963,891$1,919,353
84$2,210,732$1,169,370$954,939$2,050,469
85$2,393,686$1,184,128$944,389$2,193,451
86$2,593,960$1,198,269$932,144$2,349,482
87$2,813,281$1,211,721$918,108$2,519,868
88$3,053,546$1,224,406$902,175$2,706,046
89$3,316,848$1,236,242$884,238$2,909,601
90$3,605,489$1,247,141$864,183$3,132,279
91$3,922,008$1,257,009$841,891$3,376,006
92$4,269,196$1,265,746$817,238$3,642,902
93$4,650,133$1,273,247$790,095$3,935,307
94$5,068,209$1,279,398$760,325$4,255,797
95$5,527,156$1,284,078$727,786$4,607,212
96$6,031,089$1,287,161$692,329$4,992,683
97$6,584,538$1,288,510$653,800$5,415,662
98$7,192,494$1,287,980$612,036$5,879,950
99$7,860,457$1,285,420$566,868$6,389,740
100$8,594,483$1,280,665$518,118$6,949,653