Can I retire at age 74 with 954,000?

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 $954,000?

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$78,780$78,079$77,394$76,726$76,073$75,689
2 years$39,000$38,274$37,570$36,887$36,225$35,838
3 years$25,742$25,012$24,310$23,634$22,983$22,604
4 years$19,114$18,387$17,692$17,027$16,392$16,024
5 years$15,138$14,415$13,729$13,078$12,461$12,105
6 years$12,489$11,771$11,095$10,459$9,860$9,517
7 years$10,597$9,886$9,220$8,599$8,019$7,689
8 years$9,179$8,474$7,820$7,213$6,652$6,336
9 years$8,076$7,378$6,735$6,144$5,602$5,299
10 years$7,195$6,503$5,872$5,296$4,773$4,483
11 years$6,474$5,789$5,169$4,609$4,105$3,828
12 years$5,874$5,196$4,588$4,043$3,557$3,292
13 years$5,366$4,696$4,099$3,569$3,102$2,849
14 years$4,932$4,268$3,683$3,169$2,719$2,478
15 years$4,556$3,899$3,325$2,826$2,394$2,165
16 years$4,227$3,578$3,015$2,530$2,116$1,898
17 years$3,937$3,295$2,743$2,273$1,876$1,669
18 years$3,679$3,045$2,504$2,049$1,668$1,472
19 years$3,449$2,822$2,292$1,851$1,487$1,301
20 years$3,242$2,622$2,104$1,677$1,328$1,152
21 years$3,055$2,442$1,935$1,522$1,189$1,022
22 years$2,886$2,280$1,784$1,384$1,065$908
23 years$2,731$2,132$1,647$1,260$956$808
24 years$2,590$1,998$1,523$1,149$860$720
25 years$2,460$1,875$1,411$1,050$774$642
26 years$2,340$1,762$1,308$960$697$573
27 years$2,229$1,658$1,215$878$628$512
28 years$2,126$1,563$1,129$805$567$457
29 years$2,031$1,474$1,051$738$512$409
30 years$1,942$1,392$979$677$462$366
31 years$1,859$1,316$913$622$418$328
32 years$1,781$1,245$852$572$378$294
33 years$1,708$1,179$795$526$342$263
34 years$1,640$1,118$743$484$310$236
35 years$1,576$1,060$695$445$281$211
36 years$1,515$1,006$650$410$254$190
37 years$1,458$956$608$378$230$170
38 years$1,404$908$569$348$209$153
39 years$1,353$864$534$321$189$137
40 years$1,304$822$500$296$172$123
41 years$1,258$782$469$273$156$111
42 years$1,215$745$440$252$141$99
43 years$1,173$710$413$233$128$89
44 years$1,133$677$387$215$117$80
45 years$1,096$645$364$199$106$72
46 years$1,060$615$342$183$96$65
47 years$1,026$587$321$169$87$58
48 years$993$561$302$157$79$52
49 years$961$535$284$145$72$47
50 years$931$511$267$134$65$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $954,000, adding $6,105 every year, while hoping to spend $23,195 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: 69/25/6 Blend
73$954,000$954,000$954,000$954,000
74$1,057,605$1,007,043$992,256$1,129,276
75$1,140,802$1,031,709$1,000,818$1,202,158
76$1,231,707$1,056,806$1,008,888$1,278,428
77$1,331,082$1,082,331$1,016,427$1,361,221
78$1,439,767$1,108,280$1,023,392$1,451,169
79$1,558,684$1,134,646$1,029,737$1,548,972
80$1,688,851$1,161,425$1,035,414$1,655,398
81$1,831,387$1,188,608$1,040,373$1,771,292
82$1,987,525$1,216,187$1,044,563$1,897,588
83$2,158,624$1,244,151$1,047,927$2,035,312
84$2,346,178$1,272,489$1,050,407$2,185,594
85$2,551,835$1,301,188$1,051,942$2,349,680
86$2,777,409$1,330,233$1,052,469$2,528,942
87$3,024,898$1,359,607$1,051,920$2,724,889
88$3,296,503$1,389,293$1,050,225$2,939,188
89$3,594,649$1,419,271$1,047,309$3,173,671
90$3,922,005$1,449,517$1,043,096$3,430,358
91$4,281,513$1,480,007$1,037,504$3,711,476
92$4,676,415$1,510,715$1,030,448$4,019,474
93$5,110,279$1,541,610$1,021,838$4,357,056
94$5,587,039$1,572,660$1,011,581$4,727,197
95$6,111,027$1,603,831$999,579$5,133,175
96$6,687,016$1,635,083$985,729$5,578,606
97$7,320,266$1,666,376$969,924$6,067,468
98$8,016,568$1,697,663$952,052$6,604,150
99$8,782,307$1,728,898$931,995$7,193,484
100$9,624,515$1,760,026$909,629$7,840,797