Can I retire at age 74 with 958,000?

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 $958,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$79,111$78,406$77,719$77,048$76,392$74,819
2 years$39,164$38,434$37,727$37,042$36,377$34,800
3 years$25,850$25,117$24,412$23,733$23,079$21,546
4 years$19,194$18,464$17,766$17,098$16,460$14,984
5 years$15,202$14,476$13,787$13,133$12,513$11,097
6 years$12,541$11,821$11,142$10,503$9,901$8,547
7 years$10,641$9,927$9,259$8,635$8,052$6,761
8 years$9,217$8,509$7,852$7,244$6,680$5,451
9 years$8,110$7,409$6,763$6,170$5,626$4,457
10 years$7,225$6,531$5,896$5,319$4,793$3,685
11 years$6,501$5,814$5,191$4,629$4,122$3,073
12 years$5,898$5,218$4,607$4,060$3,572$2,580
13 years$5,389$4,716$4,116$3,584$3,115$2,178
14 years$4,952$4,286$3,698$3,182$2,731$1,847
15 years$4,575$3,916$3,339$2,838$2,404$1,572
16 years$4,244$3,593$3,027$2,541$2,125$1,343
17 years$3,953$3,309$2,755$2,283$1,884$1,150
18 years$3,695$3,057$2,515$2,057$1,675$987
19 years$3,464$2,833$2,302$1,859$1,493$848
20 years$3,256$2,633$2,113$1,684$1,334$730
21 years$3,068$2,453$1,943$1,528$1,194$630
22 years$2,898$2,289$1,791$1,389$1,070$544
23 years$2,743$2,141$1,654$1,265$960$470
24 years$2,600$2,006$1,529$1,154$863$406
25 years$2,470$1,883$1,417$1,054$777$352
26 years$2,350$1,769$1,314$964$700$304
27 years$2,238$1,665$1,220$882$631$264
28 years$2,135$1,569$1,134$808$569$229
29 years$2,039$1,480$1,055$741$514$198
30 years$1,950$1,398$983$680$464$172
31 years$1,867$1,322$916$625$420$149
32 years$1,789$1,250$855$574$380$130
33 years$1,716$1,184$798$528$344$113
34 years$1,647$1,122$746$486$311$98
35 years$1,582$1,065$697$447$282$85
36 years$1,522$1,010$652$412$255$74
37 years$1,464$960$611$379$231$64
38 years$1,410$912$572$350$210$56
39 years$1,358$867$536$322$190$48
40 years$1,310$825$502$297$173$42
41 years$1,264$785$471$274$157$37
42 years$1,220$748$442$253$142$32
43 years$1,178$713$414$234$129$28
44 years$1,138$679$389$216$117$24
45 years$1,100$648$365$199$106$21
46 years$1,064$618$343$184$96$18
47 years$1,030$590$322$170$88$16
48 years$997$563$303$157$80$14
49 years$965$538$285$145$72$12
50 years$935$514$268$134$66$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $958,000, adding $2,611 every year, while hoping to spend $26,997 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: 69/20/11 Blend
73$958,000$958,000$958,000$958,000
74$1,058,409$1,007,635$992,786$1,128,834
75$1,137,642$1,028,285$997,320$1,196,564
76$1,224,052$1,049,041$1,001,101$1,267,129
77$1,318,343$1,069,882$1,004,075$1,343,614
78$1,421,289$1,090,780$1,006,186$1,426,597
79$1,533,742$1,111,710$1,007,375$1,516,714
80$1,656,640$1,132,641$1,007,579$1,614,664
81$1,791,018$1,153,541$1,006,733$1,721,219
82$1,938,013$1,174,375$1,004,769$1,837,230
83$2,098,876$1,195,106$1,001,616$1,963,633
84$2,274,989$1,215,693$997,197$2,101,459
85$2,467,868$1,236,092$991,433$2,251,846
86$2,679,187$1,256,258$984,243$2,416,046
87$2,910,789$1,276,139$975,539$2,595,439
88$3,164,700$1,295,681$965,231$2,791,546
89$3,443,157$1,314,826$953,224$3,006,044
90$3,748,619$1,333,513$939,417$3,240,780
91$4,083,798$1,351,675$923,707$3,497,788
92$4,451,679$1,369,240$905,985$3,779,313
93$4,855,551$1,386,133$886,136$4,087,825
94$5,299,036$1,402,273$864,040$4,426,049
95$5,786,126$1,417,573$839,574$4,796,987
96$6,321,216$1,431,939$812,605$5,203,949
97$6,909,150$1,445,274$782,997$5,650,579
98$7,555,264$1,457,473$750,608$6,140,898
99$8,265,434$1,468,422$715,287$6,679,334
100$9,046,137$1,478,004$676,877$7,270,768