Can I retire at age 74 with 624,000?

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 $624,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$51,529$51,070$50,623$50,185$49,759$49,487
2 years$25,510$25,034$24,574$24,128$23,695$23,420
3 years$16,837$16,360$15,901$15,459$15,033$14,764
4 years$12,502$12,027$11,572$11,137$10,722$10,461
5 years$9,902$9,429$8,980$8,554$8,150$7,899
6 years$8,169$7,699$7,257$6,841$6,449$6,207
7 years$6,931$6,466$6,031$5,624$5,245$5,012
8 years$6,004$5,543$5,115$4,718$4,351$4,127
9 years$5,283$4,826$4,405$4,019$3,664$3,450
10 years$4,706$4,254$3,841$3,464$3,122$2,917
11 years$4,235$3,787$3,381$3,015$2,685$2,489
12 years$3,842$3,399$3,001$2,645$2,327$2,140
13 years$3,510$3,072$2,681$2,335$2,029$1,850
14 years$3,226$2,792$2,409$2,073$1,779$1,609
15 years$2,980$2,551$2,175$1,848$1,566$1,404
16 years$2,765$2,340$1,972$1,655$1,384$1,230
17 years$2,575$2,155$1,794$1,487$1,227$1,081
18 years$2,407$1,991$1,638$1,340$1,091$953
19 years$2,256$1,846$1,499$1,211$973$841
20 years$2,121$1,715$1,376$1,097$869$745
21 years$1,999$1,597$1,266$995$777$660
22 years$1,888$1,491$1,167$905$697$586
23 years$1,786$1,395$1,077$824$626$521
24 years$1,694$1,307$996$752$562$464
25 years$1,609$1,226$923$686$506$413
26 years$1,530$1,153$856$628$456$368
27 years$1,458$1,085$795$575$411$329
28 years$1,391$1,022$739$526$371$294
29 years$1,328$964$687$483$335$262
30 years$1,270$911$640$443$302$235
31 years$1,216$861$597$407$273$210
32 years$1,165$814$557$374$247$188
33 years$1,117$771$520$344$224$168
34 years$1,073$731$486$316$203$151
35 years$1,031$693$454$291$184$135
36 years$991$658$425$268$166$121
37 years$954$625$398$247$151$109
38 years$918$594$372$228$137$97
39 years$885$565$349$210$124$87
40 years$853$537$327$194$112$78
41 years$823$512$307$179$102$70
42 years$794$487$288$165$93$63
43 years$767$464$270$152$84$57
44 years$741$443$253$141$76$51
45 years$717$422$238$130$69$46
46 years$693$403$223$120$63$41
47 years$671$384$210$111$57$37
48 years$649$367$197$102$52$33
49 years$629$350$185$95$47$30
50 years$609$335$174$87$43$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $624,000, adding $3,888 every year, while hoping to spend $36,470 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: 33/49/18 Blend
73$624,000$624,000$624,000$624,000
74$691,658$658,586$648,914$710,511
75$723,404$652,053$631,849$718,250
76$757,165$643,978$612,990$722,946
77$793,109$634,246$592,238$727,235
78$831,418$622,736$569,491$731,102
79$872,294$609,322$544,640$734,533
80$915,955$593,866$517,573$737,520
81$962,643$576,225$488,171$740,052
82$1,012,620$556,247$456,312$742,125
83$1,066,176$533,773$421,868$743,738
84$1,123,628$508,630$384,703$744,893
85$1,185,325$480,639$344,677$745,599
86$1,251,648$449,610$301,643$745,870
87$1,323,016$415,341$255,449$745,725
88$1,399,891$377,620$205,933$745,194
89$1,482,777$336,221$152,930$744,313
90$1,572,232$290,907$96,264$743,131
91$1,668,864$241,426$35,753$741,705
92$1,773,344$187,512$0$740,109
93$1,886,411$128,886$0$743,966
94$2,008,875$65,251$0$755,530
95$2,141,627$0$0$768,093
96$2,285,646$0$0$783,837
97$2,442,011$0$0$839,209
98$2,611,906$0$0$899,455
99$2,796,637$0$0$965,046
100$2,997,637$0$0$1,036,505