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%11.6%
1 years$79,524$78,815$78,124$77,450$76,791$76,275
2 years$39,368$38,635$37,924$37,235$36,567$36,047
3 years$25,985$25,248$24,540$23,857$23,200$22,691
4 years$19,294$18,560$17,859$17,188$16,546$16,053
5 years$15,281$14,551$13,859$13,202$12,578$12,102
6 years$12,607$11,882$11,200$10,558$9,953$9,494
7 years$10,697$9,979$9,307$8,680$8,094$7,654
8 years$9,265$8,554$7,893$7,281$6,715$6,293
9 years$8,152$7,447$6,799$6,202$5,655$5,250
10 years$7,263$6,565$5,927$5,346$4,818$4,431
11 years$6,535$5,844$5,218$4,653$4,144$3,774
12 years$5,929$5,245$4,631$4,081$3,591$3,238
13 years$5,417$4,740$4,137$3,603$3,131$2,795
14 years$4,978$4,309$3,718$3,198$2,745$2,425
15 years$4,598$3,936$3,356$2,852$2,417$2,113
16 years$4,266$3,611$3,043$2,554$2,136$1,847
17 years$3,974$3,326$2,769$2,295$1,894$1,620
18 years$3,714$3,073$2,528$2,068$1,684$1,425
19 years$3,482$2,848$2,314$1,869$1,501$1,256
20 years$3,273$2,647$2,124$1,692$1,341$1,109
21 years$3,084$2,465$1,953$1,536$1,200$981
22 years$2,913$2,301$1,800$1,397$1,075$869
23 years$2,757$2,152$1,662$1,272$965$771
24 years$2,614$2,017$1,537$1,160$868$684
25 years$2,483$1,893$1,424$1,059$781$608
26 years$2,362$1,779$1,321$969$703$541
27 years$2,250$1,674$1,226$887$634$482
28 years$2,146$1,577$1,140$812$572$429
29 years$2,050$1,488$1,061$745$517$383
30 years$1,960$1,405$988$684$467$341
31 years$1,876$1,328$921$628$422$305
32 years$1,798$1,257$860$577$382$272
33 years$1,725$1,190$803$531$346$243
34 years$1,656$1,128$750$488$313$217
35 years$1,591$1,070$701$449$283$194
36 years$1,529$1,016$656$414$257$174
37 years$1,472$965$614$381$233$155
38 years$1,417$917$575$352$211$139
39 years$1,366$872$539$324$191$124
40 years$1,317$829$505$299$174$111
41 years$1,270$790$473$276$157$99
42 years$1,226$752$444$255$143$89
43 years$1,184$716$417$235$130$80
44 years$1,144$683$391$217$118$71
45 years$1,106$651$367$200$107$64
46 years$1,070$621$345$185$97$57
47 years$1,035$593$324$171$88$51
48 years$1,002$566$305$158$80$46
49 years$971$540$286$146$73$41
50 years$940$516$269$135$66$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $963,000, adding $2,319 every year, while hoping to spend $34,617 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: 47/38/15 Blend
73$963,000$963,000$963,000$963,000
74$1,063,618$1,012,579$997,653$1,109,014
75$1,135,275$1,025,363$994,242$1,153,503
76$1,213,080$1,037,614$989,556$1,198,042
77$1,297,625$1,049,267$983,517$1,245,626
78$1,389,560$1,060,258$976,041$1,296,553
79$1,489,598$1,070,514$967,042$1,351,151
80$1,598,526$1,079,958$956,427$1,409,783
81$1,717,211$1,088,511$944,102$1,472,850
82$1,846,603$1,096,085$929,967$1,540,795
83$1,987,753$1,102,589$913,917$1,614,110
84$2,141,812$1,107,925$895,841$1,693,334
85$2,310,052$1,111,988$875,627$1,779,068
86$2,493,870$1,114,668$853,154$1,871,973
87$2,694,806$1,115,848$828,295$1,972,779
88$2,914,553$1,115,402$800,921$2,082,294
89$3,154,979$1,113,198$770,893$2,201,411
90$3,418,137$1,109,095$738,068$2,331,115
91$3,706,290$1,102,943$702,296$2,472,495
92$4,021,929$1,094,585$663,420$2,626,755
93$4,367,797$1,083,851$621,276$2,795,222
94$4,746,916$1,070,563$575,692$2,979,365
95$5,162,614$1,054,533$526,490$3,180,804
96$5,618,555$1,035,560$473,483$3,401,328
97$6,118,777$1,013,432$416,474$3,642,914
98$6,667,727$987,925$355,260$3,907,744
99$7,270,302$958,799$289,628$4,198,226
100$7,931,897$925,805$219,355$4,517,021