Can I retire at age 74 with 971,000?

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 $971,000?

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$80,184$79,470$78,773$78,093$77,429$77,103
2 years$39,695$38,956$38,239$37,545$36,871$36,542
3 years$26,201$25,458$24,743$24,055$23,392$23,070
4 years$19,455$18,714$18,007$17,330$16,684$16,371
5 years$15,408$14,672$13,974$13,311$12,683$12,380
6 years$12,711$11,981$11,293$10,645$10,035$9,744
7 years$10,786$10,062$9,385$8,752$8,161$7,881
8 years$9,342$8,625$7,959$7,342$6,771$6,501
9 years$8,220$7,509$6,855$6,254$5,702$5,444
10 years$7,323$6,619$5,976$5,391$4,858$4,611
11 years$6,589$5,893$5,261$4,692$4,178$3,942
12 years$5,979$5,289$4,669$4,115$3,621$3,395
13 years$5,462$4,780$4,172$3,633$3,157$2,942
14 years$5,020$4,345$3,748$3,225$2,768$2,562
15 years$4,637$3,969$3,384$2,876$2,437$2,241
16 years$4,302$3,641$3,068$2,575$2,154$1,967
17 years$4,007$3,354$2,792$2,314$1,910$1,733
18 years$3,745$3,099$2,549$2,085$1,698$1,530
19 years$3,511$2,872$2,333$1,884$1,513$1,354
20 years$3,300$2,669$2,141$1,707$1,352$1,201
21 years$3,110$2,486$1,970$1,549$1,210$1,067
22 years$2,937$2,320$1,815$1,408$1,084$949
23 years$2,780$2,170$1,676$1,282$973$846
24 years$2,636$2,033$1,550$1,170$875$755
25 years$2,503$1,908$1,436$1,068$787$674
26 years$2,381$1,793$1,332$977$709$602
27 years$2,269$1,688$1,237$894$639$539
28 years$2,164$1,590$1,150$819$577$482
29 years$2,067$1,500$1,070$751$521$432
30 years$1,977$1,417$996$689$471$387
31 years$1,892$1,339$929$633$426$347
32 years$1,813$1,267$867$582$385$312
33 years$1,739$1,200$809$535$348$280
34 years$1,669$1,138$756$492$315$251
35 years$1,604$1,079$707$453$286$226
36 years$1,542$1,024$661$417$259$203
37 years$1,484$973$619$385$235$182
38 years$1,429$924$580$354$213$164
39 years$1,377$879$543$327$193$147
40 years$1,328$836$509$301$175$133
41 years$1,281$796$477$278$159$119
42 years$1,236$758$448$257$144$107
43 years$1,194$722$420$237$131$96
44 years$1,154$689$394$219$119$87
45 years$1,115$657$370$202$108$78
46 years$1,079$626$348$187$98$70
47 years$1,044$598$327$172$89$63
48 years$1,010$571$307$159$81$57
49 years$979$545$289$147$73$51
50 years$948$521$271$136$67$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $971,000, adding $4,172 every year, while hoping to spend $20,378 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: 80/8/12 Blend
73$971,000$971,000$971,000$971,000
74$1,074,345$1,022,882$1,007,832$1,157,589
75$1,162,247$1,051,322$1,019,912$1,241,294
76$1,258,431$1,080,471$1,031,714$1,330,061
77$1,363,721$1,110,345$1,043,207$1,426,881
78$1,479,025$1,140,956$1,054,358$1,532,549
79$1,605,339$1,172,317$1,065,134$1,647,944
80$1,743,765$1,204,441$1,075,497$1,774,030
81$1,895,512$1,237,342$1,085,409$1,911,872
82$2,061,915$1,271,033$1,094,831$2,062,643
83$2,244,443$1,305,526$1,103,720$2,227,632
84$2,444,713$1,340,833$1,112,032$2,408,262
85$2,664,508$1,376,968$1,119,719$2,606,100
86$2,905,790$1,413,942$1,126,732$2,822,871
87$3,170,723$1,451,768$1,133,020$3,060,476
88$3,461,688$1,490,455$1,138,527$3,321,009
89$3,781,309$1,530,017$1,143,197$3,606,777
90$4,132,477$1,570,462$1,146,968$3,920,323
91$4,518,377$1,611,802$1,149,779$4,264,448
92$4,942,516$1,654,045$1,151,562$4,642,236
93$5,408,761$1,697,202$1,152,247$5,057,088
94$5,921,369$1,741,279$1,151,762$5,512,749
95$6,485,032$1,786,285$1,150,029$6,013,346
96$7,104,919$1,832,226$1,146,969$6,563,428
97$7,786,724$1,879,109$1,142,495$7,168,004
98$8,536,722$1,926,937$1,136,521$7,832,596
99$9,361,826$1,975,715$1,128,953$8,563,288
100$10,269,653$2,025,446$1,119,694$9,366,782