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%13.2%
1 years$48,804$48,370$47,945$47,531$47,127$46,500
2 years$24,161$23,711$23,274$22,852$22,442$21,810
3 years$15,947$15,495$15,060$14,641$14,238$13,623
4 years$11,841$11,391$10,960$10,548$10,155$9,560
5 years$9,378$8,930$8,505$8,102$7,719$7,147
6 years$7,737$7,292$6,874$6,479$6,108$5,559
7 years$6,565$6,124$5,712$5,327$4,967$4,442
8 years$5,686$5,249$4,844$4,469$4,121$3,618
9 years$5,003$4,571$4,172$3,806$3,470$2,991
10 years$4,457$4,029$3,638$3,281$2,957$2,500
11 years$4,011$3,587$3,202$2,856$2,543$2,108
12 years$3,639$3,219$2,842$2,505$2,204$1,791
13 years$3,324$2,909$2,539$2,211$1,922$1,530
14 years$3,055$2,644$2,281$1,963$1,685$1,313
15 years$2,822$2,416$2,060$1,751$1,483$1,132
16 years$2,618$2,216$1,868$1,567$1,311$979
17 years$2,439$2,041$1,699$1,408$1,162$849
18 years$2,279$1,886$1,551$1,269$1,034$738
19 years$2,137$1,748$1,420$1,147$921$643
20 years$2,009$1,624$1,303$1,039$823$561
21 years$1,893$1,513$1,199$943$736$490
22 years$1,788$1,412$1,105$857$660$429
23 years$1,692$1,321$1,020$781$592$376
24 years$1,604$1,238$944$712$533$330
25 years$1,524$1,161$874$650$479$290
26 years$1,449$1,092$810$594$432$254
27 years$1,381$1,027$753$544$389$224
28 years$1,317$968$700$499$351$197
29 years$1,258$913$651$457$317$173
30 years$1,203$862$606$420$286$153
31 years$1,152$815$565$385$259$134
32 years$1,103$771$528$354$234$118
33 years$1,058$731$493$326$212$104
34 years$1,016$692$460$300$192$92
35 years$976$657$430$276$174$81
36 years$939$623$402$254$158$72
37 years$903$592$377$234$143$63
38 years$870$563$353$216$129$56
39 years$838$535$331$199$117$49
40 years$808$509$310$183$106$43
41 years$779$485$290$169$97$38
42 years$752$461$272$156$88$34
43 years$727$440$256$144$80$30
44 years$702$419$240$133$72$26
45 years$679$400$225$123$66$23
46 years$657$381$212$114$60$21
47 years$635$364$199$105$54$18
48 years$615$347$187$97$49$16
49 years$596$332$176$90$45$14
50 years$577$317$165$83$40$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $591,000, adding $3,674 every year, while hoping to spend $55,273 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: 45/48/7 Blend
73$591,000$591,000$591,000$591,000
74$655,072$623,749$614,588$683,110
75$663,079$595,502$576,367$674,586
76$670,051$564,019$535,013$659,332
77$675,822$529,083$490,362$641,510
78$680,212$490,464$442,245$620,901
79$683,016$447,919$390,482$597,271
80$684,008$401,192$334,889$570,364
81$682,939$350,012$275,269$539,906
82$679,529$294,093$211,421$505,599
83$673,470$233,133$143,133$467,125
84$664,419$166,811$70,182$424,134
85$651,995$94,790$0$376,254
86$635,778$16,714$0$323,650
87$615,301$0$0$270,943
88$590,048$0$0$248,237
89$559,446$0$0$231,664
90$522,864$0$0$212,081
91$479,600$0$0$189,140
92$428,880$0$0$162,454
93$369,849$0$0$131,598
94$301,558$0$0$96,101
95$222,963$0$0$55,442
96$132,906$0$0$9,046
97$30,110$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0