Can I retire at age 74 with 1,000,000?

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$82,579$81,843$81,126$80,425$79,741$76,912
2 years$40,881$40,119$39,381$38,666$37,972$35,152
3 years$26,983$26,218$25,482$24,774$24,091$21,368
4 years$20,036$19,273$18,545$17,848$17,182$14,578
5 years$15,868$15,111$14,391$13,709$13,061$10,582
6 years$13,091$12,339$11,630$10,963$10,335$7,983
7 years$11,108$10,362$9,665$9,013$8,405$6,180
8 years$9,621$8,882$8,197$7,561$6,973$4,872
9 years$8,466$7,734$7,060$6,440$5,872$3,894
10 years$7,542$6,817$6,155$5,552$5,003$3,144
11 years$6,786$6,069$5,419$4,832$4,303$2,558
12 years$6,157$5,447$4,809$4,238$3,729$2,095
13 years$5,625$4,922$4,296$3,742$3,252$1,724
14 years$5,170$4,474$3,860$3,321$2,850$1,424
15 years$4,775$4,087$3,485$2,962$2,510$1,180
16 years$4,430$3,750$3,160$2,652$2,218$981
17 years$4,126$3,454$2,875$2,383$1,967$817
18 years$3,857$3,191$2,625$2,148$1,749$681
19 years$3,615$2,958$2,403$1,940$1,559$569
20 years$3,399$2,748$2,205$1,757$1,392$476
21 years$3,203$2,560$2,029$1,595$1,246$399
22 years$3,025$2,390$1,870$1,450$1,117$334
23 years$2,863$2,235$1,726$1,321$1,002$280
24 years$2,714$2,094$1,596$1,205$901$235
25 years$2,578$1,965$1,479$1,100$811$198
26 years$2,453$1,847$1,371$1,006$730$166
27 years$2,336$1,738$1,273$921$658$139
28 years$2,229$1,638$1,184$844$594$117
29 years$2,129$1,545$1,102$774$537$98
30 years$2,036$1,459$1,026$710$485$83
31 years$1,949$1,380$957$652$438$70
32 years$1,867$1,305$893$599$396$59
33 years$1,791$1,236$833$551$359$49
34 years$1,719$1,172$779$507$325$41
35 years$1,652$1,111$728$467$294$35
36 years$1,588$1,055$681$430$267$29
37 years$1,528$1,002$637$396$242$25
38 years$1,472$952$597$365$219$21
39 years$1,418$905$559$337$199$17
40 years$1,367$861$524$310$180$15
41 years$1,319$820$492$286$163$12
42 years$1,273$781$461$264$148$10
43 years$1,230$744$433$244$135$9
44 years$1,188$709$406$225$122$7
45 years$1,149$676$381$208$111$6
46 years$1,111$645$358$192$101$5
47 years$1,075$616$336$178$91$4
48 years$1,041$588$316$164$83$4
49 years$1,008$561$297$152$75$3
50 years$976$536$279$140$69$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,000,000, adding $4,226 every year, while hoping to spend $28,145 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: 74/9/17 Blend
73$1,000,000$1,000,000$1,000,000$1,000,000
74$1,106,359$1,053,359$1,037,859$1,183,635
75$1,189,262$1,075,028$1,042,681$1,257,069
76$1,279,677$1,096,815$1,046,722$1,333,649
77$1,378,342$1,118,696$1,049,925$1,416,820
78$1,486,067$1,140,646$1,052,231$1,507,230
79$1,603,744$1,162,637$1,053,579$1,605,596
80$1,732,357$1,184,637$1,053,905$1,712,702
81$1,872,986$1,206,613$1,053,140$1,829,418
82$2,026,824$1,228,530$1,051,213$1,956,697
83$2,195,181$1,250,349$1,048,050$2,095,593
84$2,379,501$1,272,028$1,043,572$2,247,267
85$2,581,376$1,293,523$1,037,697$2,412,995
86$2,802,555$1,314,784$1,030,338$2,594,186
87$3,044,967$1,335,760$1,021,406$2,792,394
88$3,310,737$1,356,396$1,010,807$3,009,327
89$3,602,204$1,376,631$998,440$3,246,870
90$3,921,944$1,396,401$984,204$3,507,102
91$4,272,796$1,415,638$967,988$3,792,310
92$4,657,885$1,434,268$949,679$4,105,017
93$5,080,655$1,452,213$929,159$4,448,004
94$5,544,899$1,469,389$906,303$4,824,332
95$6,054,795$1,485,706$880,981$5,237,380
96$6,614,947$1,501,068$853,057$5,690,867
97$7,230,426$1,515,374$822,388$6,188,894
98$7,906,816$1,528,515$788,825$6,735,980
99$8,650,274$1,540,374$752,213$7,337,107
100$9,467,578$1,550,829$712,388$7,997,762