Can I retire at age 74 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$81,836$81,107$80,396$79,702$79,024$78,592
2 years$40,513$39,758$39,027$38,318$37,630$37,194
3 years$26,740$25,982$25,253$24,551$23,874$23,448
4 years$19,855$19,100$18,378$17,687$17,027$16,614
5 years$15,725$14,975$14,262$13,586$12,944$12,544
6 years$12,973$12,228$11,526$10,865$10,242$9,857
7 years$11,008$10,269$9,578$8,932$8,330$7,959
8 years$9,535$8,802$8,123$7,493$6,910$6,555
9 years$8,389$7,664$6,996$6,382$5,819$5,479
10 years$7,474$6,755$6,099$5,502$4,958$4,632
11 years$6,725$6,014$5,370$4,788$4,264$3,953
12 years$6,102$5,398$4,766$4,200$3,695$3,398
13 years$5,575$4,878$4,258$3,708$3,222$2,939
14 years$5,123$4,434$3,826$3,291$2,825$2,555
15 years$4,732$4,051$3,454$2,935$2,487$2,230
16 years$4,391$3,716$3,132$2,628$2,198$1,954
17 years$4,089$3,423$2,850$2,362$1,949$1,717
18 years$3,822$3,163$2,601$2,128$1,733$1,513
19 years$3,583$2,931$2,381$1,923$1,545$1,336
20 years$3,368$2,724$2,186$1,742$1,380$1,183
21 years$3,174$2,537$2,010$1,581$1,235$1,048
22 years$2,998$2,368$1,853$1,437$1,107$931
23 years$2,837$2,215$1,711$1,309$993$827
24 years$2,690$2,075$1,582$1,194$893$736
25 years$2,555$1,948$1,465$1,090$804$656
26 years$2,430$1,830$1,359$997$724$585
27 years$2,315$1,723$1,262$912$653$522
28 years$2,209$1,623$1,173$836$589$466
29 years$2,110$1,531$1,092$767$532$417
30 years$2,017$1,446$1,017$704$480$373
31 years$1,931$1,367$948$646$434$334
32 years$1,850$1,294$885$594$393$299
33 years$1,775$1,225$826$546$356$267
34 years$1,704$1,161$772$502$322$239
35 years$1,637$1,101$721$463$292$215
36 years$1,574$1,045$675$426$264$192
37 years$1,515$993$632$392$239$172
38 years$1,458$943$592$362$217$155
39 years$1,405$897$554$334$197$139
40 years$1,355$854$519$308$179$124
41 years$1,307$812$487$284$162$112
42 years$1,262$774$457$262$147$100
43 years$1,219$737$429$242$133$90
44 years$1,177$703$402$223$121$81
45 years$1,138$670$378$206$110$72
46 years$1,101$639$355$190$100$65
47 years$1,065$610$333$176$91$58
48 years$1,031$582$313$163$82$52
49 years$999$556$295$150$75$47
50 years$968$531$277$139$68$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $991,000, adding $5,477 every year, while hoping to spend $43,233 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: 70/20/10 Blend
73$991,000$991,000$991,000$991,000
74$1,097,732$1,045,209$1,029,848$1,172,032
75$1,163,701$1,050,424$1,018,348$1,227,193
76$1,234,949$1,054,446$1,005,014$1,281,743
77$1,311,971$1,057,171$989,739$1,340,277
78$1,395,307$1,058,488$972,411$1,403,178
79$1,485,553$1,058,278$952,911$1,470,869
80$1,583,364$1,056,418$931,118$1,543,817
81$1,689,460$1,052,775$906,903$1,622,535
82$1,804,632$1,047,208$880,131$1,707,591
83$1,929,751$1,039,568$850,663$1,799,612
84$2,065,775$1,029,697$818,349$1,899,287
85$2,213,759$1,017,426$783,038$2,007,380
86$2,374,860$1,002,578$744,568$2,124,730
87$2,550,356$984,965$702,772$2,252,265
88$2,741,651$964,386$657,473$2,391,008
89$2,950,289$940,631$608,487$2,542,088
90$3,177,971$913,474$555,624$2,706,750
91$3,426,569$882,680$498,683$2,886,368
92$3,698,144$847,996$437,454$3,082,458
93$3,994,965$809,158$371,719$3,296,692
94$4,319,530$765,885$301,250$3,530,913
95$4,674,588$717,880$225,808$3,787,157
96$5,063,168$664,828$145,144$4,067,669
97$5,488,603$606,397$58,999$4,374,923
98$5,954,567$542,236$0$4,711,651
99$6,465,101$471,974$0$5,084,379
100$7,024,660$395,220$0$5,499,862