Can I retire at age 74 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$57,062$56,554$56,058$55,574$55,101$53,531
2 years$28,249$27,722$27,213$26,718$26,239$24,668
3 years$18,645$18,117$17,608$17,119$16,647$15,126
4 years$13,845$13,318$12,814$12,333$11,873$10,413
5 years$10,965$10,441$9,944$9,473$9,025$7,632
6 years$9,046$8,526$8,037$7,576$7,142$5,814
7 years$7,676$7,160$6,678$6,228$5,808$4,547
8 years$6,648$6,138$5,664$5,225$4,818$3,623
9 years$5,850$5,344$4,878$4,450$4,058$2,928
10 years$5,211$4,710$4,253$3,836$3,457$2,390
11 years$4,689$4,193$3,744$3,339$2,973$1,968
12 years$4,255$3,764$3,323$2,928$2,577$1,631
13 years$3,887$3,401$2,969$2,585$2,247$1,359
14 years$3,572$3,092$2,668$2,295$1,970$1,136
15 years$3,300$2,824$2,408$2,047$1,734$954
16 years$3,061$2,591$2,184$1,833$1,533$803
17 years$2,851$2,386$1,987$1,647$1,359$678
18 years$2,665$2,205$1,814$1,484$1,208$573
19 years$2,498$2,044$1,660$1,341$1,077$485
20 years$2,348$1,899$1,524$1,214$962$412
21 years$2,213$1,769$1,402$1,102$861$350
22 years$2,090$1,651$1,292$1,002$772$297
23 years$1,978$1,544$1,193$913$693$253
24 years$1,876$1,447$1,103$832$623$215
25 years$1,782$1,358$1,022$760$560$183
26 years$1,695$1,276$948$695$505$156
27 years$1,614$1,201$880$636$455$133
28 years$1,540$1,132$818$583$411$114
29 years$1,471$1,068$761$535$371$97
30 years$1,407$1,008$709$491$335$83
31 years$1,346$953$661$451$303$71
32 years$1,290$902$617$414$274$60
33 years$1,237$854$576$381$248$51
34 years$1,188$810$538$350$224$44
35 years$1,141$768$503$323$203$38
36 years$1,097$729$471$297$184$32
37 years$1,056$692$440$274$167$27
38 years$1,017$658$412$252$151$23
39 years$980$626$386$233$137$20
40 years$945$595$362$215$124$17
41 years$911$567$340$198$113$15
42 years$880$540$319$183$102$12
43 years$850$514$299$169$93$11
44 years$821$490$281$156$84$9
45 years$794$467$264$144$77$8
46 years$768$446$247$133$70$7
47 years$743$425$233$123$63$6
48 years$719$406$218$113$57$5
49 years$696$388$205$105$52$4
50 years$675$370$193$97$47$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $691,000, adding $2,215 every year, while hoping to spend $20,389 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: 53/37/10 Blend
73$691,000$691,000$691,000$691,000
74$763,767$727,144$716,433$802,183
75$819,977$741,080$718,740$842,472
76$881,238$755,016$720,441$883,888
77$948,042$768,930$721,494$928,468
78$1,020,933$782,798$721,855$976,516
79$1,100,510$796,596$721,478$1,028,366
80$1,187,429$810,297$720,314$1,084,388
81$1,282,416$823,871$718,314$1,144,989
82$1,386,269$837,287$715,424$1,210,615
83$1,499,865$850,511$711,588$1,281,763
84$1,624,173$863,507$706,748$1,358,976
85$1,760,257$876,237$700,842$1,442,856
86$1,909,289$888,659$693,806$1,534,065
87$2,072,562$900,729$685,574$1,633,332
88$2,251,496$912,398$676,074$1,741,463
89$2,447,660$923,616$665,233$1,859,345
90$2,662,777$934,329$652,975$1,987,957
91$2,898,748$944,479$639,217$2,128,379
92$3,157,666$954,004$623,877$2,281,798
93$3,441,836$962,838$606,864$2,449,528
94$3,753,797$970,911$588,087$2,633,015
95$4,096,345$978,147$567,450$2,833,853
96$4,472,563$984,467$544,850$3,053,800
97$4,885,845$989,786$520,183$3,294,795
98$5,339,930$994,014$493,337$3,558,977
99$5,838,936$997,054$464,198$3,848,700
100$6,387,403$998,805$432,644$4,166,565