Can I retire at age 74 with 953,000?

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 $953,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$78,698$77,997$77,313$76,645$75,994$74,612
2 years$38,959$38,234$37,531$36,849$36,187$34,800
3 years$25,715$24,986$24,285$23,609$22,959$21,609
4 years$19,094$18,367$17,673$17,009$16,374$15,073
5 years$15,122$14,400$13,715$13,065$12,448$11,198
6 years$12,476$11,759$11,084$10,448$9,849$8,654
7 years$10,586$9,875$9,211$8,590$8,010$6,868
8 years$9,169$8,465$7,811$7,206$6,645$5,556
9 years$8,068$7,370$6,728$6,138$5,596$4,560
10 years$7,187$6,496$5,866$5,291$4,768$3,784
11 years$6,467$5,783$5,164$4,605$4,101$3,167
12 years$5,868$5,191$4,583$4,039$3,554$2,670
13 years$5,361$4,691$4,095$3,566$3,099$2,263
14 years$4,927$4,264$3,679$3,165$2,716$1,927
15 years$4,551$3,895$3,322$2,823$2,392$1,647
16 years$4,222$3,574$3,012$2,528$2,114$1,413
17 years$3,933$3,291$2,740$2,271$1,874$1,215
18 years$3,675$3,041$2,502$2,047$1,667$1,047
19 years$3,446$2,819$2,290$1,849$1,485$904
20 years$3,239$2,619$2,102$1,675$1,327$782
21 years$3,052$2,440$1,933$1,520$1,187$677
22 years$2,883$2,277$1,782$1,382$1,064$587
23 years$2,728$2,130$1,645$1,259$955$510
24 years$2,587$1,996$1,521$1,148$859$443
25 years$2,457$1,873$1,409$1,048$773$385
26 years$2,337$1,760$1,307$959$696$335
27 years$2,227$1,657$1,214$877$628$292
28 years$2,124$1,561$1,128$804$566$254
29 years$2,029$1,473$1,050$737$511$222
30 years$1,940$1,391$978$677$462$193
31 years$1,857$1,315$912$621$418$169
32 years$1,779$1,244$851$571$378$147
33 years$1,707$1,178$794$525$342$128
34 years$1,638$1,117$742$483$310$112
35 years$1,574$1,059$694$445$280$98
36 years$1,514$1,005$649$410$254$85
37 years$1,456$955$607$377$230$75
38 years$1,402$907$569$348$209$65
39 years$1,351$863$533$321$189$57
40 years$1,303$821$500$296$172$50
41 years$1,257$781$468$273$156$43
42 years$1,213$744$439$252$141$38
43 years$1,172$709$412$233$128$33
44 years$1,132$676$387$215$116$29
45 years$1,095$644$363$198$106$25
46 years$1,059$615$341$183$96$22
47 years$1,024$587$321$169$87$19
48 years$992$560$301$156$79$17
49 years$960$535$283$145$72$15
50 years$930$511$266$134$65$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $953,000, adding $5,480 every year, while hoping to spend $50,273 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: 78/5/17 Blend
73$953,000$953,000$953,000$953,000
74$1,055,859$1,005,350$990,578$1,133,848
75$1,110,066$1,001,122$970,272$1,181,841
76$1,168,118$995,002$947,602$1,227,583
77$1,230,353$986,844$922,433$1,276,380
78$1,297,143$976,493$894,629$1,328,520
79$1,368,897$963,786$864,044$1,384,319
80$1,446,062$948,549$830,527$1,444,126
81$1,529,130$930,598$793,919$1,508,327
82$1,618,641$909,738$754,056$1,577,348
83$1,715,190$885,762$710,764$1,651,657
84$1,819,426$858,452$663,862$1,731,771
85$1,932,068$827,576$613,161$1,818,261
86$2,053,901$792,890$558,465$1,911,757
87$2,185,792$754,134$499,566$2,012,951
88$2,328,690$711,034$436,249$2,122,610
89$2,483,643$663,301$368,289$2,241,579
90$2,651,799$610,628$295,452$2,370,788
91$2,834,425$552,690$217,492$2,511,265
92$3,032,911$489,147$134,152$2,664,143
93$3,248,788$419,635$45,166$2,830,672
94$3,483,739$343,772$0$3,012,231
95$3,739,619$261,155$0$3,219,372
96$4,018,464$171,356$0$3,454,072
97$4,322,521$73,926$0$3,710,032
98$4,654,257$0$0$3,989,350
99$5,016,393$0$0$4,296,077
100$5,411,919$0$0$4,635,557