Can I retire at age 75 with 974,000?

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 $974,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$80,432$79,716$79,017$78,334$77,668$74,705
2 years$39,818$39,076$38,358$37,661$36,985$34,034
3 years$26,282$25,537$24,820$24,130$23,465$20,619
4 years$19,515$18,772$18,063$17,384$16,735$14,017
5 years$15,456$14,718$14,017$13,353$12,722$10,138
6 years$12,751$12,018$11,328$10,678$10,066$7,619
7 years$10,819$10,093$9,414$8,779$8,187$5,874
8 years$9,371$8,651$7,984$7,365$6,792$4,612
9 years$8,246$7,533$6,876$6,273$5,720$3,670
10 years$7,346$6,640$5,995$5,407$4,873$2,950
11 years$6,610$5,911$5,278$4,706$4,191$2,389
12 years$5,997$5,305$4,684$4,128$3,632$1,947
13 years$5,479$4,794$4,185$3,644$3,167$1,595
14 years$5,035$4,358$3,760$3,235$2,776$1,311
15 years$4,651$3,981$3,395$2,885$2,445$1,081
16 years$4,315$3,653$3,078$2,583$2,160$894
17 years$4,019$3,364$2,801$2,321$1,916$741
18 years$3,756$3,108$2,557$2,092$1,703$615
19 years$3,521$2,881$2,341$1,890$1,518$511
20 years$3,310$2,677$2,148$1,712$1,356$425
21 years$3,120$2,494$1,976$1,554$1,214$354
22 years$2,946$2,328$1,821$1,413$1,088$295
23 years$2,788$2,177$1,681$1,286$976$246
24 years$2,644$2,040$1,555$1,173$878$205
25 years$2,511$1,914$1,440$1,072$790$172
26 years$2,389$1,799$1,336$980$711$143
27 years$2,276$1,693$1,240$897$641$120
28 years$2,171$1,595$1,153$822$579$100
29 years$2,073$1,505$1,073$753$523$84
30 years$1,983$1,421$999$691$472$70
31 years$1,898$1,344$932$635$427$58
32 years$1,819$1,271$869$584$386$49
33 years$1,744$1,204$812$537$349$41
34 years$1,674$1,141$758$494$316$34
35 years$1,609$1,082$709$455$287$29
36 years$1,547$1,027$663$419$260$24
37 years$1,489$976$621$386$235$20
38 years$1,433$927$581$356$213$17
39 years$1,381$882$545$328$193$14
40 years$1,332$839$511$302$175$12
41 years$1,285$799$479$279$159$10
42 years$1,240$761$449$257$144$8
43 years$1,198$725$421$238$131$7
44 years$1,157$691$396$219$119$6
45 years$1,119$659$371$203$108$5
46 years$1,082$628$349$187$98$4
47 years$1,047$600$328$173$89$3
48 years$1,014$572$308$160$81$3
49 years$982$547$289$148$73$2
50 years$951$522$272$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 75 starting with $974,000, adding $6,365 every year, while hoping to spend $51,399 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: 67/11/22 Blend
74$974,000$974,000$974,000$974,000
75$1,079,913$1,028,291$1,013,194$1,145,835
76$1,135,377$1,023,990$992,448$1,186,540
77$1,194,774$1,017,754$969,285$1,224,549
78$1,258,453$1,009,437$943,568$1,264,903
79$1,326,795$998,878$915,157$1,307,833
80$1,400,217$985,912$883,903$1,353,594
81$1,479,177$970,360$849,652$1,402,470
82$1,564,180$952,035$812,243$1,454,774
83$1,655,778$930,736$771,505$1,510,853
84$1,754,579$906,254$727,261$1,571,090
85$1,861,250$878,364$679,328$1,635,912
86$1,976,524$846,830$627,512$1,705,788
87$2,101,207$811,402$571,611$1,781,238
88$2,236,184$771,815$511,414$1,862,839
89$2,382,429$727,789$446,701$1,951,227
90$2,541,014$679,027$377,243$2,047,105
91$2,713,115$625,216$302,798$2,151,254
92$2,900,027$566,026$223,116$2,264,534
93$3,103,174$501,106$137,935$2,387,897
94$3,324,124$430,087$46,982$2,522,395
95$3,564,600$352,576$0$2,669,191
96$3,826,499$268,163$0$2,841,327
97$4,111,909$176,410$0$3,041,000
98$4,423,127$76,856$0$3,258,814
99$4,762,680$0$0$3,496,577
100$5,133,352$0$0$3,760,037