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%11.5%
1 years$82,084$81,352$80,639$79,943$79,263$78,763
2 years$40,635$39,879$39,145$38,434$37,744$37,240
3 years$26,821$26,061$25,330$24,625$23,947$23,454
4 years$19,915$19,158$18,433$17,741$17,079$16,601
5 years$15,773$15,020$14,305$13,627$12,983$12,522
6 years$13,012$12,265$11,561$10,897$10,273$9,829
7 years$11,041$10,300$9,607$8,959$8,355$7,928
8 years$9,564$8,829$8,147$7,516$6,931$6,522
9 years$8,415$7,687$7,017$6,402$5,837$5,445
10 years$7,496$6,776$6,118$5,518$4,973$4,598
11 years$6,745$6,032$5,386$4,803$4,277$3,919
12 years$6,120$5,414$4,780$4,213$3,707$3,364
13 years$5,591$4,893$4,271$3,719$3,232$2,906
14 years$5,139$4,447$3,837$3,301$2,833$2,523
15 years$4,747$4,063$3,464$2,944$2,495$2,199
16 years$4,404$3,728$3,141$2,636$2,205$1,924
17 years$4,102$3,433$2,858$2,369$1,955$1,689
18 years$3,833$3,172$2,609$2,135$1,738$1,486
19 years$3,594$2,940$2,389$1,929$1,549$1,311
20 years$3,378$2,732$2,192$1,747$1,384$1,158
21 years$3,184$2,545$2,016$1,585$1,238$1,025
22 years$3,007$2,375$1,858$1,442$1,110$909
23 years$2,846$2,222$1,716$1,313$996$807
24 years$2,698$2,082$1,587$1,197$896$717
25 years$2,563$1,953$1,470$1,094$806$638
26 years$2,438$1,836$1,363$1,000$726$568
27 years$2,322$1,728$1,266$915$655$506
28 years$2,215$1,628$1,177$839$591$451
29 years$2,116$1,536$1,095$769$533$403
30 years$2,023$1,451$1,020$706$482$359
31 years$1,937$1,371$951$648$436$321
32 years$1,856$1,297$887$596$394$287
33 years$1,780$1,229$828$548$357$256
34 years$1,709$1,165$774$504$323$229
35 years$1,642$1,105$724$464$292$205
36 years$1,579$1,048$677$427$265$184
37 years$1,519$996$634$394$240$164
38 years$1,463$946$593$363$218$147
39 years$1,409$900$556$335$197$132
40 years$1,359$856$521$309$179$118
41 years$1,311$815$489$285$162$106
42 years$1,266$776$458$263$147$95
43 years$1,222$739$430$243$134$85
44 years$1,181$705$404$224$121$76
45 years$1,142$672$379$207$110$68
46 years$1,104$641$356$191$100$61
47 years$1,069$612$334$177$91$55
48 years$1,034$584$314$163$83$49
49 years$1,002$558$295$151$75$44
50 years$970$533$278$139$68$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $994,000, adding $3,769 every year, while hoping to spend $58,530 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: 48/34/18 Blend
73$994,000$994,000$994,000$994,000
74$1,099,276$1,046,594$1,031,187$1,146,304
75$1,149,126$1,035,601$1,003,456$1,168,334
76$1,202,100$1,022,109$972,835$1,185,987
77$1,258,454$1,005,931$939,164$1,203,907
78$1,318,468$986,874$902,278$1,222,143
79$1,382,451$964,730$862,004$1,240,752
80$1,450,740$939,280$818,159$1,259,800
81$1,523,703$910,293$770,555$1,279,364
82$1,601,745$877,522$718,994$1,299,535
83$1,685,311$840,708$663,268$1,320,415
84$1,774,886$799,576$603,160$1,342,125
85$1,871,004$753,836$538,446$1,364,801
86$1,974,252$703,179$468,890$1,388,600
87$2,085,272$647,281$394,243$1,413,699
88$2,204,769$585,797$314,250$1,440,303
89$2,333,520$518,365$228,642$1,468,641
90$2,472,374$444,601$137,137$1,498,975
91$2,622,268$364,098$39,443$1,531,601
92$2,784,230$276,429$0$1,566,852
93$2,959,388$181,140$0$1,617,555
94$3,148,983$77,754$0$1,680,577
95$3,354,381$0$0$1,748,879
96$3,577,082$0$0$1,835,870
97$3,818,736$0$0$1,961,923
98$4,081,158$0$0$2,098,905
99$4,366,344$0$0$2,247,871
100$4,676,488$0$0$2,409,980