Can I retire at age 74 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$79,606$78,897$78,205$77,530$76,871$74,861
2 years$39,409$38,675$37,964$37,274$36,605$34,594
3 years$26,012$25,275$24,565$23,882$23,224$21,274
4 years$19,314$18,579$17,877$17,206$16,563$14,690
5 years$15,297$14,567$13,873$13,215$12,591$10,800
6 years$12,620$11,895$11,212$10,569$9,963$8,255
7 years$10,708$9,989$9,317$8,689$8,103$6,478
8 years$9,275$8,563$7,902$7,289$6,722$5,180
9 years$8,161$7,455$6,806$6,209$5,661$4,201
10 years$7,270$6,571$5,933$5,352$4,823$3,443
11 years$6,542$5,850$5,224$4,658$4,148$2,845
12 years$5,935$5,251$4,636$4,085$3,595$2,367
13 years$5,423$4,745$4,142$3,607$3,135$1,980
14 years$4,984$4,313$3,721$3,202$2,748$1,663
15 years$4,603$3,940$3,360$2,855$2,419$1,402
16 years$4,271$3,615$3,046$2,557$2,138$1,185
17 years$3,978$3,329$2,772$2,297$1,896$1,005
18 years$3,718$3,076$2,530$2,070$1,686$853
19 years$3,485$2,851$2,317$1,871$1,503$726
20 years$3,276$2,650$2,126$1,694$1,342$619
21 years$3,088$2,468$1,955$1,538$1,201$528
22 years$2,916$2,304$1,802$1,398$1,077$451
23 years$2,760$2,155$1,664$1,273$966$385
24 years$2,617$2,019$1,539$1,161$869$329
25 years$2,485$1,894$1,425$1,061$782$282
26 years$2,364$1,781$1,322$970$704$241
27 years$2,252$1,676$1,228$888$635$207
28 years$2,149$1,579$1,141$813$573$177
29 years$2,052$1,490$1,062$746$517$152
30 years$1,962$1,407$989$684$467$130
31 years$1,878$1,330$922$629$422$112
32 years$1,800$1,258$860$578$382$96
33 years$1,726$1,192$803$531$346$82
34 years$1,657$1,129$751$489$313$71
35 years$1,592$1,071$702$450$284$61
36 years$1,531$1,017$657$414$257$52
37 years$1,473$966$614$382$233$45
38 years$1,419$918$575$352$211$38
39 years$1,367$873$539$324$191$33
40 years$1,318$830$505$299$174$28
41 years$1,271$790$474$276$158$24
42 years$1,227$753$444$255$143$21
43 years$1,185$717$417$235$130$18
44 years$1,145$684$392$217$118$15
45 years$1,107$652$368$201$107$13
46 years$1,071$622$345$185$97$11
47 years$1,036$593$324$171$88$10
48 years$1,003$567$305$158$80$8
49 years$972$541$287$146$73$7
50 years$941$517$269$135$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $964,000, adding $6,141 every year, while hoping to spend $34,278 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: 42/30/28 Blend
73$964,000$964,000$964,000$964,000
74$1,068,662$1,017,570$1,002,628$1,104,566
75$1,141,194$1,030,960$999,745$1,144,380
76$1,219,976$1,043,857$995,616$1,183,784
77$1,305,608$1,056,200$990,164$1,225,804
78$1,398,752$1,067,926$983,306$1,270,703
79$1,500,136$1,078,966$974,959$1,318,770
80$1,610,561$1,089,246$965,030$1,370,328
81$1,730,907$1,098,688$953,428$1,425,733
82$1,862,145$1,107,209$940,053$1,485,379
83$2,005,342$1,114,720$924,803$1,549,703
84$2,161,673$1,121,127$907,570$1,619,186
85$2,332,430$1,126,329$888,240$1,694,365
86$2,519,038$1,130,220$866,696$1,775,829
87$2,723,064$1,132,685$842,815$1,864,234
88$2,946,234$1,133,604$816,466$1,960,302
89$3,190,448$1,132,848$787,516$2,064,834
90$3,457,798$1,130,282$755,823$2,178,714
91$3,750,589$1,125,761$721,238$2,302,920
92$4,071,357$1,119,132$683,607$2,438,535
93$4,422,898$1,110,231$642,770$2,586,754
94$4,808,287$1,098,887$598,557$2,748,897
95$5,230,915$1,084,915$550,792$2,926,426
96$5,694,516$1,068,123$499,290$3,120,953
97$6,203,199$1,048,304$443,859$3,334,263
98$6,761,496$1,025,241$384,299$3,568,323
99$7,374,394$998,704$320,399$3,825,311
100$8,047,390$968,447$251,939$4,107,630