Can I retire at age 74 with 591,000?

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 $591,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$48,804$48,370$47,945$47,531$47,127$46,674
2 years$24,161$23,711$23,274$22,852$22,442$21,985
3 years$15,947$15,495$15,060$14,641$14,238$13,792
4 years$11,841$11,391$10,960$10,548$10,155$9,723
5 years$9,378$8,930$8,505$8,102$7,719$7,303
6 years$7,737$7,292$6,874$6,479$6,108$5,708
7 years$6,565$6,124$5,712$5,327$4,967$4,584
8 years$5,686$5,249$4,844$4,469$4,121$3,753
9 years$5,003$4,571$4,172$3,806$3,470$3,119
10 years$4,457$4,029$3,638$3,281$2,957$2,621
11 years$4,011$3,587$3,202$2,856$2,543$2,223
12 years$3,639$3,219$2,842$2,505$2,204$1,899
13 years$3,324$2,909$2,539$2,211$1,922$1,632
14 years$3,055$2,644$2,281$1,963$1,685$1,409
15 years$2,822$2,416$2,060$1,751$1,483$1,222
16 years$2,618$2,216$1,868$1,567$1,311$1,063
17 years$2,439$2,041$1,699$1,408$1,162$928
18 years$2,279$1,886$1,551$1,269$1,034$812
19 years$2,137$1,748$1,420$1,147$921$712
20 years$2,009$1,624$1,303$1,039$823$626
21 years$1,893$1,513$1,199$943$736$551
22 years$1,788$1,412$1,105$857$660$485
23 years$1,692$1,321$1,020$781$592$428
24 years$1,604$1,238$944$712$533$378
25 years$1,524$1,161$874$650$479$334
26 years$1,449$1,092$810$594$432$296
27 years$1,381$1,027$753$544$389$262
28 years$1,317$968$700$499$351$232
29 years$1,258$913$651$457$317$206
30 years$1,203$862$606$420$286$182
31 years$1,152$815$565$385$259$162
32 years$1,103$771$528$354$234$144
33 years$1,058$731$493$326$212$128
34 years$1,016$692$460$300$192$113
35 years$976$657$430$276$174$101
36 years$939$623$402$254$158$90
37 years$903$592$377$234$143$80
38 years$870$563$353$216$129$71
39 years$838$535$331$199$117$63
40 years$808$509$310$183$106$56
41 years$779$485$290$169$97$50
42 years$752$461$272$156$88$44
43 years$727$440$256$144$80$39
44 years$702$419$240$133$72$35
45 years$679$400$225$123$66$31
46 years$657$381$212$114$60$28
47 years$635$364$199$105$54$25
48 years$615$347$187$97$49$22
49 years$596$332$176$90$45$20
50 years$577$317$165$83$40$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $591,000, adding $3,484 every year, while hoping to spend $22,546 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: 51/44/5 Blend
73$591,000$591,000$591,000$591,000
74$654,876$623,553$614,392$687,339
75$697,684$630,118$610,986$716,328
76$744,104$636,249$606,709$745,082
77$794,478$641,902$601,510$775,793
78$849,187$647,027$595,333$808,647
79$908,647$651,574$588,119$843,853
80$973,317$655,489$579,809$881,640
81$1,043,700$658,713$570,337$922,262
82$1,120,352$661,184$559,638$965,999
83$1,203,884$662,838$547,642$1,013,159
84$1,294,967$663,605$534,275$1,064,086
85$1,394,343$663,410$519,462$1,119,157
86$1,502,824$662,175$503,122$1,178,789
87$1,621,307$659,817$485,172$1,243,443
88$1,750,779$656,247$465,524$1,313,628
89$1,892,327$651,371$444,087$1,389,907
90$2,047,145$645,090$420,766$1,472,902
91$2,216,552$637,297$395,460$1,563,298
92$2,401,998$627,882$368,065$1,661,854
93$2,605,078$616,725$338,472$1,769,407
94$2,827,553$603,701$306,567$1,886,881
95$3,071,357$588,676$272,231$2,015,298
96$3,338,625$571,510$235,339$2,155,784
97$3,631,704$552,054$195,763$2,309,584
98$3,953,182$530,149$153,366$2,478,072
99$4,305,909$505,629$108,006$2,662,767
100$4,693,024$478,317$59,536$2,865,342