Can I retire at age 74 with 963,000?

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 $963,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$79,524$78,815$78,124$77,450$76,791$76,467
2 years$39,368$38,635$37,924$37,235$36,567$36,240
3 years$25,985$25,248$24,540$23,857$23,200$22,880
4 years$19,294$18,560$17,859$17,188$16,546$16,236
5 years$15,281$14,551$13,859$13,202$12,578$12,278
6 years$12,607$11,882$11,200$10,558$9,953$9,664
7 years$10,697$9,979$9,307$8,680$8,094$7,816
8 years$9,265$8,554$7,893$7,281$6,715$6,448
9 years$8,152$7,447$6,799$6,202$5,655$5,399
10 years$7,263$6,565$5,927$5,346$4,818$4,573
11 years$6,535$5,844$5,218$4,653$4,144$3,909
12 years$5,929$5,245$4,631$4,081$3,591$3,367
13 years$5,417$4,740$4,137$3,603$3,131$2,917
14 years$4,978$4,309$3,718$3,198$2,745$2,541
15 years$4,598$3,936$3,356$2,852$2,417$2,223
16 years$4,266$3,611$3,043$2,554$2,136$1,951
17 years$3,974$3,326$2,769$2,295$1,894$1,718
18 years$3,714$3,073$2,528$2,068$1,684$1,517
19 years$3,482$2,848$2,314$1,869$1,501$1,343
20 years$3,273$2,647$2,124$1,692$1,341$1,191
21 years$3,084$2,465$1,953$1,536$1,200$1,058
22 years$2,913$2,301$1,800$1,397$1,075$942
23 years$2,757$2,152$1,662$1,272$965$839
24 years$2,614$2,017$1,537$1,160$868$748
25 years$2,483$1,893$1,424$1,059$781$668
26 years$2,362$1,779$1,321$969$703$597
27 years$2,250$1,674$1,226$887$634$534
28 years$2,146$1,577$1,140$812$572$478
29 years$2,050$1,488$1,061$745$517$429
30 years$1,960$1,405$988$684$467$384
31 years$1,876$1,328$921$628$422$345
32 years$1,798$1,257$860$577$382$309
33 years$1,725$1,190$803$531$346$278
34 years$1,656$1,128$750$488$313$249
35 years$1,591$1,070$701$449$283$224
36 years$1,529$1,016$656$414$257$201
37 years$1,472$965$614$381$233$181
38 years$1,417$917$575$352$211$163
39 years$1,366$872$539$324$191$146
40 years$1,317$829$505$299$174$131
41 years$1,270$790$473$276$157$118
42 years$1,226$752$444$255$143$106
43 years$1,184$716$417$235$130$96
44 years$1,144$683$391$217$118$86
45 years$1,106$651$367$200$107$78
46 years$1,070$621$345$185$97$70
47 years$1,035$593$324$171$88$63
48 years$1,002$566$305$158$80$57
49 years$971$540$286$146$73$51
50 years$940$516$269$135$66$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $963,000, adding $5,067 every year, while hoping to spend $23,697 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: 45/45/10 Blend
73$963,000$963,000$963,000$963,000
74$1,066,453$1,015,414$1,000,487$1,111,208
75$1,150,017$1,039,955$1,008,790$1,167,261
76$1,241,311$1,064,906$1,016,577$1,225,173
77$1,341,098$1,090,259$1,023,805$1,287,431
78$1,450,218$1,116,010$1,030,431$1,354,444
79$1,569,597$1,142,151$1,036,407$1,426,663
80$1,700,253$1,168,673$1,041,684$1,504,585
81$1,843,309$1,195,568$1,046,210$1,588,756
82$2,000,000$1,222,824$1,049,931$1,679,778
83$2,171,686$1,250,429$1,052,790$1,778,314
84$2,359,866$1,278,369$1,054,727$1,885,094
85$2,566,191$1,306,627$1,055,679$2,000,923
86$2,792,478$1,335,187$1,055,580$2,126,688
87$3,040,730$1,364,030$1,054,360$2,263,365
88$3,313,150$1,393,134$1,051,947$2,412,029
89$3,612,169$1,422,475$1,048,265$2,573,867
90$3,940,462$1,452,027$1,043,233$2,750,185
91$4,300,975$1,481,763$1,036,768$2,942,423
92$4,696,957$1,511,652$1,028,782$3,152,167
93$5,131,983$1,541,659$1,019,183$3,381,165
94$5,609,994$1,571,749$1,007,874$3,631,345
95$6,135,331$1,601,882$994,755$3,904,829
96$6,712,774$1,632,014$979,719$4,203,959
97$7,347,594$1,662,100$962,656$4,531,313
98$8,045,594$1,692,088$943,451$4,889,735
99$8,813,169$1,721,925$921,981$5,282,356
100$9,657,365$1,751,552$898,120$5,712,632