Can I retire at age 74 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$82,001$81,271$80,558$79,862$79,183$78,194
2 years$40,595$39,839$39,106$38,395$37,706$36,711
3 years$26,794$26,035$25,304$24,600$23,922$22,952
4 years$19,895$19,138$18,415$17,723$17,062$16,123
5 years$15,757$15,005$14,291$13,613$12,970$12,066
6 years$12,999$12,253$11,549$10,886$10,263$9,395
7 years$11,030$10,290$9,597$8,950$8,346$7,515
8 years$9,554$8,820$8,139$7,508$6,924$6,129
9 years$8,406$7,680$7,010$6,395$5,831$5,072
10 years$7,489$6,769$6,112$5,513$4,968$4,245
11 years$6,739$6,026$5,381$4,798$4,273$3,585
12 years$6,114$5,409$4,775$4,208$3,703$3,048
13 years$5,586$4,888$4,266$3,715$3,229$2,608
14 years$5,133$4,443$3,833$3,298$2,831$2,242
15 years$4,742$4,059$3,461$2,941$2,492$1,935
16 years$4,399$3,724$3,138$2,634$2,203$1,675
17 years$4,098$3,429$2,855$2,366$1,953$1,455
18 years$3,830$3,169$2,607$2,132$1,737$1,267
19 years$3,590$2,937$2,386$1,927$1,548$1,105
20 years$3,375$2,729$2,190$1,745$1,383$966
21 years$3,180$2,542$2,014$1,584$1,237$846
22 years$3,004$2,373$1,857$1,440$1,109$741
23 years$2,843$2,219$1,714$1,312$995$651
24 years$2,695$2,079$1,585$1,196$895$571
25 years$2,560$1,951$1,468$1,092$805$502
26 years$2,435$1,834$1,362$999$725$442
27 years$2,320$1,726$1,265$914$654$389
28 years$2,213$1,626$1,176$838$590$343
29 years$2,114$1,534$1,094$768$533$302
30 years$2,021$1,449$1,019$705$481$267
31 years$1,935$1,370$950$647$435$235
32 years$1,854$1,296$886$595$394$208
33 years$1,778$1,227$828$547$356$183
34 years$1,707$1,163$773$503$323$162
35 years$1,640$1,103$723$463$292$143
36 years$1,577$1,047$676$427$265$126
37 years$1,518$995$633$393$240$112
38 years$1,461$945$593$362$218$99
39 years$1,408$899$555$334$197$87
40 years$1,358$855$521$308$179$77
41 years$1,310$814$488$284$162$68
42 years$1,264$775$458$262$147$60
43 years$1,221$739$430$242$134$53
44 years$1,180$704$403$224$121$47
45 years$1,141$671$379$207$110$42
46 years$1,103$641$356$191$100$37
47 years$1,067$611$334$176$91$33
48 years$1,033$584$314$163$82$29
49 years$1,001$557$295$151$75$26
50 years$970$532$277$139$68$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $993,000, adding $2,544 every year, while hoping to spend $39,796 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: 53/21/26 Blend
73$993,000$993,000$993,000$993,000
74$1,096,910$1,044,281$1,028,890$1,146,987
75$1,166,452$1,053,108$1,021,015$1,190,718
76$1,241,754$1,061,034$1,011,542$1,233,997
77$1,323,361$1,067,973$1,000,377$1,280,289
78$1,411,872$1,073,832$987,418$1,329,897
79$1,507,948$1,078,514$972,561$1,383,157
80$1,612,313$1,081,916$955,697$1,440,441
81$1,725,767$1,083,928$936,710$1,502,159
82$1,849,185$1,084,431$915,481$1,568,767
83$1,983,536$1,083,301$891,883$1,640,767
84$2,129,881$1,080,407$865,785$1,718,716
85$2,289,389$1,075,608$837,050$1,803,228
86$2,463,349$1,068,755$805,533$1,894,986
87$2,653,177$1,059,690$771,084$1,994,740
88$2,860,432$1,048,246$733,546$2,103,323
89$3,086,830$1,034,244$692,755$2,221,654
90$3,334,263$1,017,498$648,538$2,350,749
91$3,604,810$997,807$600,716$2,491,732
92$3,900,761$974,961$549,101$2,645,843
93$4,224,640$948,735$493,497$2,814,454
94$4,579,224$918,894$433,699$2,999,081
95$4,967,571$885,185$369,494$3,201,396
96$5,393,049$847,345$300,658$3,423,249
97$5,859,367$805,093$226,958$3,666,682
98$6,370,611$758,131$148,150$3,933,951
99$6,931,281$706,146$63,979$4,227,545
100$7,546,330$648,807$0$4,550,215