Can I retire at age 74 with 608,000?

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 $608,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$50,208$49,761$49,325$48,899$48,483$47,996
2 years$24,855$24,393$23,944$23,509$23,087$22,597
3 years$16,406$15,941$15,493$15,062$14,647$14,169
4 years$12,182$11,718$11,275$10,852$10,447$9,984
5 years$9,648$9,187$8,750$8,335$7,941$7,495
6 years$7,959$7,502$7,071$6,666$6,284$5,855
7 years$6,754$6,300$5,876$5,480$5,110$4,699
8 years$5,850$5,400$4,984$4,597$4,240$3,846
9 years$5,147$4,702$4,292$3,916$3,570$3,194
10 years$4,585$4,145$3,742$3,375$3,042$2,683
11 years$4,126$3,690$3,295$2,938$2,616$2,274
12 years$3,743$3,312$2,924$2,577$2,267$1,941
13 years$3,420$2,993$2,612$2,275$1,977$1,667
14 years$3,143$2,720$2,347$2,019$1,733$1,439
15 years$2,903$2,485$2,119$1,801$1,526$1,247
16 years$2,694$2,280$1,921$1,613$1,349$1,084
17 years$2,509$2,100$1,748$1,449$1,196$945
18 years$2,345$1,940$1,596$1,306$1,063$827
19 years$2,198$1,798$1,461$1,180$948$724
20 years$2,066$1,671$1,341$1,069$846$636
21 years$1,947$1,557$1,233$970$758$559
22 years$1,839$1,453$1,137$882$679$492
23 years$1,741$1,359$1,050$803$610$434
24 years$1,650$1,273$971$732$548$383
25 years$1,568$1,195$899$669$493$338
26 years$1,491$1,123$834$612$444$299
27 years$1,421$1,057$774$560$400$265
28 years$1,355$996$720$513$361$234
29 years$1,294$939$670$470$326$208
30 years$1,238$887$624$432$295$184
31 years$1,185$839$582$396$266$163
32 years$1,135$794$543$364$241$145
33 years$1,089$752$507$335$218$128
34 years$1,045$712$473$308$198$114
35 years$1,004$676$443$284$179$101
36 years$966$641$414$261$162$90
37 years$929$609$388$241$147$80
38 years$895$579$363$222$133$71
39 years$862$550$340$205$121$63
40 years$831$524$319$189$110$56
41 years$802$498$299$174$99$50
42 years$774$475$280$161$90$44
43 years$748$452$263$148$82$39
44 years$722$431$247$137$74$35
45 years$698$411$232$127$67$31
46 years$675$392$218$117$61$28
47 years$654$374$205$108$56$25
48 years$633$357$192$100$50$22
49 years$613$341$181$92$46$19
50 years$594$326$170$85$42$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $608,000, adding $5,579 every year, while hoping to spend $38,497 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: 51/40/9 Blend
73$608,000$608,000$608,000$608,000
74$675,771$643,547$634,123$708,382
75$703,739$634,120$614,405$721,798
76$733,269$622,941$592,737$731,785
77$764,481$609,884$569,012$741,740
78$797,504$594,813$543,120$751,670
79$832,479$577,589$514,944$761,584
80$869,560$558,059$484,363$771,495
81$908,918$536,066$451,251$781,419
82$950,735$511,442$415,476$791,377
83$995,215$484,007$376,899$801,395
84$1,042,578$453,575$335,377$811,506
85$1,093,067$419,945$290,757$821,748
86$1,146,946$382,909$242,884$832,167
87$1,204,505$342,243$191,592$842,817
88$1,266,064$297,712$136,709$853,764
89$1,331,971$249,068$78,058$865,083
90$1,402,609$196,049$15,449$876,861
91$1,478,397$138,377$0$889,200
92$1,559,796$75,761$0$907,150
93$1,647,312$7,890$0$927,817
94$1,741,499$0$0$949,891
95$1,842,968$0$0$1,002,427
96$1,952,388$0$0$1,062,872
97$2,070,494$0$0$1,128,166
98$2,198,093$0$0$1,198,761
99$2,336,075$0$0$1,275,157
100$2,485,415$0$0$1,357,899