Can I retire at age 74 with 967,000?

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 $967,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$79,854$79,143$78,449$77,771$77,110$75,154
2 years$39,532$38,795$38,082$37,390$36,719$34,761
3 years$26,093$25,353$24,642$23,956$23,296$21,398
4 years$19,374$18,637$17,933$17,259$16,615$14,791
5 years$15,345$14,612$13,917$13,257$12,630$10,885
6 years$12,659$11,932$11,247$10,601$9,994$8,329
7 years$10,741$10,020$9,346$8,716$8,128$6,544
8 years$9,304$8,589$7,926$7,312$6,743$5,239
9 years$8,186$7,478$6,827$6,228$5,678$4,253
10 years$7,293$6,592$5,952$5,369$4,838$3,490
11 years$6,562$5,868$5,240$4,672$4,161$2,888
12 years$5,954$5,267$4,650$4,098$3,606$2,406
13 years$5,440$4,760$4,155$3,618$3,144$2,015
14 years$4,999$4,327$3,733$3,212$2,756$1,695
15 years$4,618$3,952$3,370$2,864$2,427$1,431
16 years$4,284$3,626$3,056$2,565$2,145$1,212
17 years$3,990$3,340$2,781$2,304$1,902$1,028
18 years$3,729$3,086$2,538$2,077$1,691$875
19 years$3,496$2,860$2,324$1,876$1,507$745
20 years$3,287$2,658$2,133$1,699$1,346$636
21 years$3,097$2,476$1,962$1,542$1,205$543
22 years$2,925$2,311$1,808$1,402$1,080$465
23 years$2,768$2,161$1,669$1,277$969$398
24 years$2,625$2,025$1,544$1,165$871$341
25 years$2,493$1,900$1,430$1,064$784$292
26 years$2,372$1,786$1,326$973$706$251
27 years$2,259$1,681$1,231$890$637$215
28 years$2,155$1,584$1,145$816$575$185
29 years$2,059$1,494$1,065$748$519$159
30 years$1,968$1,411$992$687$469$136
31 years$1,884$1,334$925$631$424$117
32 years$1,806$1,262$863$579$383$101
33 years$1,732$1,195$806$533$347$86
34 years$1,662$1,133$753$490$314$74
35 years$1,597$1,075$704$451$285$64
36 years$1,536$1,020$659$416$258$55
37 years$1,478$969$616$383$234$47
38 years$1,423$921$577$353$212$41
39 years$1,371$875$541$325$192$35
40 years$1,322$833$507$300$174$30
41 years$1,275$793$475$277$158$26
42 years$1,231$755$446$256$143$22
43 years$1,189$719$418$236$130$19
44 years$1,149$686$393$218$118$16
45 years$1,111$654$369$201$107$14
46 years$1,074$624$346$186$97$12
47 years$1,040$595$325$172$88$10
48 years$1,006$568$306$159$80$9
49 years$975$543$287$147$73$8
50 years$944$518$270$136$66$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $967,000, adding $5,425 every year, while hoping to spend $22,750 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: 72/16/12 Blend
73$967,000$967,000$967,000$967,000
74$1,071,230$1,019,979$1,004,990$1,145,311
75$1,156,290$1,045,752$1,014,452$1,220,842
76$1,249,263$1,072,026$1,023,468$1,300,204
77$1,350,933$1,098,800$1,031,999$1,386,492
78$1,462,162$1,126,075$1,040,005$1,480,386
79$1,583,899$1,153,850$1,047,442$1,582,633
80$1,717,191$1,182,122$1,054,265$1,694,057
81$1,863,188$1,210,890$1,060,427$1,815,565
82$2,023,158$1,240,149$1,065,876$1,948,157
83$2,198,498$1,269,894$1,070,561$2,092,932
84$2,390,745$1,300,119$1,074,425$2,251,105
85$2,601,594$1,330,817$1,077,411$2,424,009
86$2,832,909$1,361,980$1,079,457$2,613,117
87$3,086,746$1,393,597$1,080,499$2,820,049
88$3,365,369$1,425,658$1,080,470$3,046,590
89$3,671,269$1,458,148$1,079,298$3,294,709
90$4,007,194$1,491,053$1,076,911$3,566,573
91$4,376,170$1,524,356$1,073,229$3,864,570
92$4,781,529$1,558,039$1,068,171$4,191,330
93$5,226,942$1,592,081$1,061,653$4,549,754
94$5,716,455$1,626,458$1,053,583$4,943,036
95$6,254,524$1,661,144$1,043,868$5,374,696
96$6,846,058$1,696,113$1,032,411$5,848,612
97$7,496,466$1,731,333$1,019,107$6,369,058
98$8,211,708$1,766,770$1,003,848$6,940,743
99$8,998,347$1,802,387$986,523$7,568,856
100$9,863,619$1,838,145$967,012$8,259,116