Can I retire at age 74 with 984,000?

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 $984,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$81,258$80,534$79,828$79,139$78,466$77,808
2 years$40,227$39,477$38,751$38,047$37,365$36,702
3 years$26,551$25,799$25,075$24,377$23,706$23,058
4 years$19,715$18,965$18,248$17,562$16,907$16,280
5 years$15,614$14,869$14,161$13,490$12,852$12,248
6 years$12,881$12,141$11,444$10,788$10,170$9,588
7 years$10,930$10,196$9,510$8,869$8,271$7,712
8 years$9,467$8,740$8,065$7,440$6,861$6,326
9 years$8,330$7,610$6,947$6,337$5,778$5,266
10 years$7,421$6,708$6,056$5,463$4,923$4,434
11 years$6,678$5,972$5,332$4,754$4,234$3,767
12 years$6,059$5,360$4,732$4,170$3,669$3,224
13 years$5,535$4,844$4,228$3,682$3,200$2,776
14 years$5,087$4,403$3,799$3,268$2,805$2,402
15 years$4,699$4,022$3,430$2,915$2,470$2,087
16 years$4,359$3,690$3,109$2,610$2,183$1,820
17 years$4,060$3,398$2,829$2,345$1,935$1,592
18 years$3,795$3,140$2,583$2,113$1,721$1,396
19 years$3,558$2,910$2,365$1,909$1,534$1,226
20 years$3,344$2,704$2,170$1,729$1,370$1,080
21 years$3,152$2,519$1,996$1,569$1,226$952
22 years$2,977$2,351$1,840$1,427$1,099$841
23 years$2,817$2,199$1,699$1,300$986$744
24 years$2,671$2,061$1,571$1,185$887$659
25 years$2,537$1,934$1,455$1,083$798$584
26 years$2,413$1,817$1,349$990$719$518
27 years$2,299$1,710$1,253$906$648$459
28 years$2,193$1,612$1,165$830$585$408
29 years$2,095$1,520$1,084$761$528$363
30 years$2,003$1,436$1,010$699$477$322
31 years$1,917$1,357$941$642$431$287
32 years$1,837$1,284$878$590$390$255
33 years$1,762$1,216$820$542$353$227
34 years$1,692$1,153$766$499$320$202
35 years$1,625$1,093$716$459$290$180
36 years$1,563$1,038$670$423$262$161
37 years$1,504$986$627$390$238$143
38 years$1,448$937$587$359$216$128
39 years$1,395$891$550$331$195$114
40 years$1,345$847$516$305$177$101
41 years$1,298$807$484$282$161$90
42 years$1,253$768$454$260$146$81
43 years$1,210$732$426$240$132$72
44 years$1,169$698$400$222$120$64
45 years$1,130$665$375$205$109$57
46 years$1,093$635$352$189$99$51
47 years$1,058$606$331$175$90$46
48 years$1,024$578$311$161$82$41
49 years$992$552$292$149$74$36
50 years$961$528$275$138$67$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $984,000, adding $4,843 every year, while hoping to spend $25,208 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: 56/24/20 Blend
73$984,000$984,000$984,000$984,000
74$1,089,364$1,037,212$1,021,960$1,144,258
75$1,173,658$1,061,214$1,029,374$1,206,257
76$1,265,705$1,085,547$1,036,192$1,270,661
77$1,366,269$1,110,202$1,042,367$1,340,270
78$1,476,192$1,135,165$1,047,850$1,415,592
79$1,596,400$1,160,425$1,052,589$1,497,184
80$1,727,913$1,185,965$1,056,531$1,585,660
81$1,871,853$1,211,771$1,059,618$1,681,698
82$2,029,458$1,237,823$1,061,791$1,786,044
83$2,202,088$1,264,103$1,062,987$1,899,521
84$2,391,245$1,290,587$1,063,140$2,023,034
85$2,598,578$1,317,252$1,062,182$2,157,583
86$2,825,907$1,344,071$1,060,039$2,304,269
87$3,075,235$1,371,017$1,056,636$2,464,304
88$3,348,769$1,398,057$1,051,893$2,639,028
89$3,648,940$1,425,157$1,045,728$2,829,912
90$3,978,423$1,452,281$1,038,051$3,038,584
91$4,340,168$1,479,389$1,028,772$3,266,832
92$4,737,424$1,506,437$1,017,794$3,516,632
93$5,173,768$1,533,380$1,005,017$3,790,159
94$5,653,143$1,560,166$990,335$4,089,811
95$6,179,891$1,586,742$973,639$4,418,233
96$6,758,796$1,613,048$954,812$4,778,337
97$7,395,129$1,639,024$933,735$5,173,336
98$8,094,697$1,664,600$910,279$5,606,771
99$8,863,896$1,689,706$884,314$6,082,543
100$9,709,775$1,714,264$855,700$6,604,954