Can I retire at age 74 with 1,340,000?

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 $1,340,000?

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$110,656$109,670$108,709$107,770$106,853$105,694
2 years$54,780$53,760$52,771$51,813$50,883$49,715
3 years$36,157$35,133$34,146$33,197$32,282$31,142
4 years$26,848$25,826$24,850$23,916$23,024$21,921
5 years$21,263$20,248$19,285$18,370$17,502$16,440
6 years$17,542$16,534$15,585$14,691$13,849$12,828
7 years$14,885$13,885$12,951$12,078$11,263$10,284
8 years$12,893$11,902$10,983$10,132$9,344$8,407
9 years$11,344$10,363$9,460$8,630$7,869$6,974
10 years$10,106$9,135$8,248$7,439$6,705$5,850
11 years$9,093$8,132$7,261$6,474$5,766$4,952
12 years$8,250$7,299$6,444$5,679$4,997$4,222
13 years$7,538$6,596$5,757$5,014$4,357$3,621
14 years$6,927$5,996$5,173$4,451$3,820$3,121
15 years$6,399$5,477$4,670$3,969$3,363$2,701
16 years$5,937$5,025$4,234$3,554$2,972$2,346
17 years$5,529$4,628$3,853$3,193$2,635$2,043
18 years$5,168$4,276$3,517$2,878$2,343$1,784
19 years$4,845$3,963$3,220$2,600$2,089$1,561
20 years$4,554$3,683$2,955$2,355$1,866$1,368
21 years$4,292$3,430$2,718$2,137$1,670$1,201
22 years$4,053$3,202$2,505$1,943$1,496$1,056
23 years$3,836$2,995$2,313$1,770$1,343$930
24 years$3,637$2,806$2,139$1,614$1,207$819
25 years$3,455$2,633$1,981$1,474$1,086$723
26 years$3,286$2,475$1,838$1,348$979$638
27 years$3,131$2,329$1,706$1,234$882$563
28 years$2,987$2,195$1,586$1,130$796$498
29 years$2,853$2,071$1,476$1,037$719$440
30 years$2,728$1,955$1,375$951$650$390
31 years$2,611$1,849$1,282$874$587$345
32 years$2,502$1,749$1,196$803$531$306
33 years$2,400$1,656$1,117$738$481$271
34 years$2,304$1,570$1,043$679$435$240
35 years$2,213$1,489$976$625$394$213
36 years$2,128$1,413$913$576$357$188
37 years$2,048$1,342$854$531$324$167
38 years$1,972$1,276$800$489$294$148
39 years$1,900$1,213$749$451$266$131
40 years$1,832$1,154$702$416$241$117
41 years$1,767$1,099$659$384$219$103
42 years$1,706$1,046$618$354$199$92
43 years$1,648$997$580$327$180$81
44 years$1,592$950$544$302$164$72
45 years$1,539$906$511$279$149$64
46 years$1,489$864$480$258$135$57
47 years$1,441$825$451$238$123$51
48 years$1,394$788$424$220$111$45
49 years$1,350$752$398$203$101$40
50 years$1,308$718$374$188$92$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $1,340,000, adding $3,223 every year, while hoping to spend $33,508 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: 32/49/19 Blend
73$1,340,000$1,340,000$1,340,000$1,340,000
74$1,480,005$1,408,985$1,388,215$1,518,528
75$1,595,313$1,442,373$1,399,067$1,580,939
76$1,721,259$1,476,273$1,409,161$1,644,831
77$1,858,894$1,510,677$1,418,434$1,712,945
78$2,009,373$1,545,572$1,426,823$1,785,668
79$2,173,967$1,580,944$1,434,260$1,863,431
80$2,354,080$1,616,777$1,440,676$1,946,704
81$2,551,252$1,653,055$1,445,994$2,036,009
82$2,767,183$1,689,758$1,450,138$2,131,920
83$3,003,743$1,726,864$1,453,026$2,235,068
84$3,262,994$1,764,349$1,454,571$2,346,152
85$3,547,203$1,802,186$1,454,683$2,465,940
86$3,858,870$1,840,346$1,453,267$2,595,279
87$4,200,748$1,878,796$1,450,225$2,735,105
88$4,575,868$1,917,501$1,445,451$2,886,447
89$4,987,569$1,956,421$1,438,836$3,050,442
90$5,439,530$1,995,515$1,430,266$3,228,342
91$5,935,803$2,034,736$1,419,621$3,421,530
92$6,480,852$2,074,034$1,406,775$3,631,529
93$7,079,592$2,113,355$1,391,595$3,860,020
94$7,737,441$2,152,641$1,373,945$4,108,855
95$8,460,367$2,191,826$1,353,678$4,380,077
96$9,254,942$2,230,844$1,330,645$4,675,940
97$10,128,410$2,269,620$1,304,685$4,998,929
98$11,088,750$2,308,073$1,275,634$5,351,784
99$12,144,753$2,346,119$1,243,319$5,737,528
100$13,306,104$2,383,665$1,207,556$6,159,492