Can I retire at age 74 with 994,000?

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 $994,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$82,084$81,352$80,639$79,943$79,263$78,403
2 years$40,635$39,879$39,145$38,434$37,744$36,878
3 years$26,821$26,061$25,330$24,625$23,947$23,101
4 years$19,915$19,158$18,433$17,741$17,079$16,261
5 years$15,773$15,020$14,305$13,627$12,983$12,195
6 years$13,012$12,265$11,561$10,897$10,273$9,516
7 years$11,041$10,300$9,607$8,959$8,355$7,629
8 years$9,564$8,829$8,147$7,516$6,931$6,236
9 years$8,415$7,687$7,017$6,402$5,837$5,173
10 years$7,496$6,776$6,118$5,518$4,973$4,340
11 years$6,745$6,032$5,386$4,803$4,277$3,674
12 years$6,120$5,414$4,780$4,213$3,707$3,132
13 years$5,591$4,893$4,271$3,719$3,232$2,686
14 years$5,139$4,447$3,837$3,301$2,833$2,315
15 years$4,747$4,063$3,464$2,944$2,495$2,004
16 years$4,404$3,728$3,141$2,636$2,205$1,740
17 years$4,102$3,433$2,858$2,369$1,955$1,515
18 years$3,833$3,172$2,609$2,135$1,738$1,323
19 years$3,594$2,940$2,389$1,929$1,549$1,158
20 years$3,378$2,732$2,192$1,747$1,384$1,015
21 years$3,184$2,545$2,016$1,585$1,238$891
22 years$3,007$2,375$1,858$1,442$1,110$783
23 years$2,846$2,222$1,716$1,313$996$690
24 years$2,698$2,082$1,587$1,197$896$608
25 years$2,563$1,953$1,470$1,094$806$536
26 years$2,438$1,836$1,363$1,000$726$473
27 years$2,322$1,728$1,266$915$655$418
28 years$2,215$1,628$1,177$839$591$369
29 years$2,116$1,536$1,095$769$533$327
30 years$2,023$1,451$1,020$706$482$289
31 years$1,937$1,371$951$648$436$256
32 years$1,856$1,297$887$596$394$227
33 years$1,780$1,229$828$548$357$201
34 years$1,709$1,165$774$504$323$178
35 years$1,642$1,105$724$464$292$158
36 years$1,579$1,048$677$427$265$140
37 years$1,519$996$634$394$240$124
38 years$1,463$946$593$363$218$110
39 years$1,409$900$556$335$197$97
40 years$1,359$856$521$309$179$86
41 years$1,311$815$489$285$162$77
42 years$1,266$776$458$263$147$68
43 years$1,222$739$430$243$134$60
44 years$1,181$705$404$224$121$54
45 years$1,142$672$379$207$110$48
46 years$1,104$641$356$191$100$42
47 years$1,069$612$334$177$91$38
48 years$1,034$584$314$163$83$33
49 years$1,002$558$295$151$75$30
50 years$970$533$278$139$68$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $994,000, adding $3,014 every year, while hoping to spend $22,118 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: 72/5/23 Blend
73$994,000$994,000$994,000$994,000
74$1,098,497$1,045,815$1,030,408$1,171,118
75$1,187,010$1,073,526$1,041,393$1,247,640
76$1,283,811$1,101,855$1,052,005$1,328,515
77$1,389,720$1,130,806$1,062,208$1,416,556
78$1,505,643$1,160,388$1,071,964$1,512,470
79$1,632,577$1,190,605$1,081,233$1,617,041
80$1,771,619$1,221,464$1,089,974$1,731,129
81$1,923,978$1,252,969$1,098,141$1,855,683
82$2,090,984$1,285,125$1,105,689$1,991,748
83$2,274,104$1,317,936$1,112,570$2,140,476
84$2,474,952$1,351,404$1,118,730$2,303,136
85$2,695,307$1,385,532$1,124,117$2,481,126
86$2,937,127$1,420,322$1,128,674$2,675,988
87$3,202,570$1,455,774$1,132,340$2,889,419
88$3,494,012$1,491,887$1,135,054$3,123,291
89$3,814,072$1,528,660$1,136,749$3,379,664
90$4,165,634$1,566,091$1,137,357$3,660,811
91$4,551,875$1,604,176$1,136,805$3,969,234
92$4,976,295$1,642,909$1,135,016$4,307,694
93$5,442,750$1,682,284$1,131,912$4,679,231
94$5,955,488$1,722,294$1,127,408$5,087,193
95$6,519,188$1,762,927$1,121,417$5,535,275
96$7,139,008$1,804,173$1,113,847$6,027,544
97$7,820,627$1,846,018$1,104,601$6,568,484
98$8,570,305$1,888,447$1,093,580$7,163,036
99$9,394,938$1,931,442$1,080,676$7,816,647
100$10,302,122$1,974,983$1,065,779$8,535,316