Can I retire at age 74 with 957,000?

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 $957,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$79,028$78,324$77,637$76,967$76,313$75,863
2 years$39,123$38,394$37,688$37,003$36,339$35,886
3 years$25,823$25,091$24,387$23,708$23,055$22,612
4 years$19,174$18,445$17,747$17,081$16,443$16,013
5 years$15,186$14,461$13,773$13,120$12,500$12,085
6 years$12,528$11,808$11,130$10,492$9,891$9,491
7 years$10,630$9,917$9,249$8,626$8,044$7,660
8 years$9,208$8,500$7,844$7,236$6,673$6,304
9 years$8,102$7,401$6,756$6,164$5,620$5,266
10 years$7,217$6,524$5,890$5,313$4,788$4,450
11 years$6,494$5,808$5,186$4,624$4,118$3,795
12 years$5,892$5,213$4,602$4,056$3,569$3,260
13 years$5,383$4,711$4,112$3,581$3,112$2,818
14 years$4,947$4,282$3,694$3,178$2,728$2,448
15 years$4,570$3,912$3,336$2,835$2,402$2,135
16 years$4,240$3,589$3,024$2,538$2,123$1,870
17 years$3,949$3,305$2,752$2,280$1,882$1,642
18 years$3,691$3,054$2,512$2,055$1,674$1,446
19 years$3,460$2,831$2,300$1,857$1,492$1,276
20 years$3,253$2,630$2,111$1,682$1,332$1,128
21 years$3,065$2,450$1,941$1,526$1,192$1,000
22 years$2,895$2,287$1,789$1,388$1,069$887
23 years$2,740$2,139$1,652$1,264$959$788
24 years$2,598$2,004$1,528$1,153$862$701
25 years$2,467$1,881$1,415$1,053$776$624
26 years$2,347$1,768$1,312$963$699$556
27 years$2,236$1,663$1,219$881$630$496
28 years$2,133$1,568$1,133$807$569$442
29 years$2,037$1,479$1,054$740$513$395
30 years$1,948$1,397$982$679$464$353
31 years$1,865$1,320$916$624$419$316
32 years$1,787$1,249$854$573$379$282
33 years$1,714$1,183$798$527$343$252
34 years$1,645$1,121$745$485$311$226
35 years$1,581$1,063$697$447$282$202
36 years$1,520$1,009$652$411$255$181
37 years$1,463$959$610$379$231$162
38 years$1,408$911$571$349$210$145
39 years$1,357$866$535$322$190$130
40 years$1,308$824$502$297$172$117
41 years$1,262$785$470$274$156$105
42 years$1,218$747$441$253$142$94
43 years$1,177$712$414$234$129$84
44 years$1,137$679$389$216$117$75
45 years$1,099$647$365$199$106$68
46 years$1,063$617$343$184$96$61
47 years$1,029$589$322$170$88$54
48 years$996$562$303$157$79$49
49 years$964$537$284$145$72$44
50 years$934$513$267$134$66$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $957,000, adding $4,948 every year, while hoping to spend $52,839 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: 75/6/19 Blend
73$957,000$957,000$957,000$957,000
74$1,059,718$1,008,997$994,163$1,134,144
75$1,111,589$1,002,217$971,248$1,177,351
76$1,166,980$993,335$945,793$1,217,726
77$1,226,194$982,190$917,659$1,260,597
78$1,289,563$968,615$886,699$1,306,200
79$1,357,453$952,432$852,757$1,354,794
80$1,430,262$933,450$815,674$1,406,666
81$1,508,430$911,471$775,280$1,462,134
82$1,592,438$886,281$731,400$1,521,548
83$1,682,815$857,656$683,850$1,585,294
84$1,780,140$825,360$632,437$1,653,800
85$1,885,052$789,140$576,961$1,727,537
86$1,998,249$748,730$517,211$1,807,025
87$2,120,502$703,849$452,969$1,892,841
88$2,252,655$654,199$384,006$1,985,619
89$2,395,637$599,466$310,081$2,086,060
90$2,550,470$539,318$230,947$2,194,939
91$2,718,275$473,402$146,341$2,313,110
92$2,900,288$401,348$55,992$2,441,517
93$3,097,866$322,762$0$2,581,202
94$3,312,502$237,231$0$2,741,509
95$3,545,838$144,316$0$2,928,161
96$3,799,682$43,556$0$3,131,257
97$4,076,021$0$0$3,352,409
98$4,377,043$0$0$3,597,720
99$4,705,155$0$0$3,868,278
100$5,063,007$0$0$4,163,395