Can I retire at age 74 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$82,414$81,680$80,964$80,265$79,582$78,135
2 years$40,799$40,039$39,303$38,589$37,896$36,444
3 years$26,929$26,166$25,431$24,724$24,043$22,630
4 years$19,996$19,235$18,508$17,812$17,148$15,785
5 years$15,837$15,080$14,363$13,682$13,035$11,727
6 years$13,065$12,314$11,607$10,941$10,314$9,062
7 years$11,086$10,341$9,646$8,995$8,388$7,192
8 years$9,602$8,865$8,180$7,546$6,959$5,819
9 years$8,449$7,718$7,046$6,428$5,860$4,775
10 years$7,527$6,803$6,143$5,541$4,993$3,963
11 years$6,773$6,056$5,408$4,822$4,294$3,317
12 years$6,145$5,436$4,799$4,230$3,722$2,796
13 years$5,614$4,913$4,288$3,734$3,245$2,370
14 years$5,159$4,465$3,853$3,315$2,845$2,018
15 years$4,766$4,079$3,478$2,956$2,505$1,725
16 years$4,422$3,743$3,154$2,647$2,214$1,479
17 years$4,118$3,447$2,870$2,378$1,963$1,272
18 years$3,849$3,185$2,620$2,143$1,745$1,096
19 years$3,608$2,952$2,398$1,937$1,556$947
20 years$3,392$2,743$2,201$1,754$1,389$819
21 years$3,196$2,555$2,024$1,592$1,243$709
22 years$3,019$2,385$1,866$1,447$1,115$615
23 years$2,857$2,231$1,723$1,318$1,000$534
24 years$2,709$2,090$1,593$1,202$899$464
25 years$2,573$1,961$1,476$1,098$809$404
26 years$2,448$1,843$1,369$1,004$729$351
27 years$2,332$1,735$1,271$919$657$306
28 years$2,224$1,635$1,181$842$593$266
29 years$2,124$1,542$1,099$772$535$232
30 years$2,031$1,456$1,024$709$484$202
31 years$1,945$1,377$955$651$437$177
32 years$1,863$1,303$891$598$396$154
33 years$1,787$1,234$832$550$358$134
34 years$1,716$1,169$777$506$324$117
35 years$1,648$1,109$727$466$294$102
36 years$1,585$1,053$680$429$266$89
37 years$1,525$1,000$636$395$241$78
38 years$1,469$950$596$364$219$68
39 years$1,415$903$558$336$198$60
40 years$1,364$860$523$310$180$52
41 years$1,316$818$491$286$163$45
42 years$1,271$779$460$264$148$40
43 years$1,227$742$432$244$134$35
44 years$1,186$708$405$225$122$30
45 years$1,146$675$381$208$111$26
46 years$1,109$644$357$192$101$23
47 years$1,073$614$336$177$91$20
48 years$1,039$587$316$164$83$18
49 years$1,006$560$297$151$75$15
50 years$974$535$279$140$68$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $998,000, adding $2,955 every year, while hoping to spend $27,904 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: 45/37/18 Blend
73$998,000$998,000$998,000$998,000
74$1,102,844$1,049,950$1,034,481$1,146,648
75$1,185,645$1,071,708$1,039,447$1,199,371
76$1,275,955$1,093,597$1,043,643$1,253,499
77$1,374,513$1,115,594$1,047,016$1,311,606
78$1,482,129$1,137,673$1,049,506$1,374,075
79$1,599,695$1,159,808$1,051,053$1,441,327
80$1,728,194$1,181,969$1,051,594$1,513,826
81$1,868,708$1,204,123$1,051,061$1,592,083
82$2,022,428$1,226,237$1,049,383$1,676,663
83$2,190,665$1,248,272$1,046,487$1,768,187
84$2,374,864$1,270,189$1,042,295$1,867,341
85$2,576,615$1,291,943$1,036,727$1,974,884
86$2,797,669$1,313,487$1,029,696$2,091,648
87$3,039,956$1,334,772$1,021,115$2,218,555
88$3,305,598$1,355,743$1,010,890$2,356,619
89$3,596,937$1,376,342$998,922$2,506,961
90$3,916,548$1,396,506$985,109$2,670,814
91$4,267,270$1,416,170$969,345$2,849,541
92$4,652,230$1,435,260$951,516$3,044,643
93$5,074,872$1,453,702$931,506$3,257,777
94$5,538,988$1,471,413$909,191$3,490,770
95$6,048,758$1,488,306$884,443$3,745,636
96$6,608,786$1,504,287$857,126$4,024,597
97$7,224,143$1,519,258$827,101$4,330,103
98$7,900,416$1,533,112$794,219$4,664,857
99$8,643,761$1,545,737$758,327$5,031,838
100$9,460,958$1,557,011$719,264$5,434,333