Can I retire at age 74 with 696,000?

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 $696,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$57,475$56,963$56,464$55,976$55,500$54,671
2 years$28,453$27,923$27,410$26,912$26,429$25,595
3 years$18,780$18,248$17,736$17,243$16,767$15,955
4 years$13,945$13,414$12,907$12,422$11,959$11,174
5 years$11,044$10,517$10,016$9,541$9,091$8,337
6 years$9,111$8,588$8,095$7,630$7,193$6,470
7 years$7,731$7,212$6,727$6,273$5,850$5,158
8 years$6,696$6,182$5,705$5,263$4,853$4,192
9 years$5,892$5,383$4,914$4,483$4,087$3,457
10 years$5,249$4,745$4,284$3,864$3,482$2,883
11 years$4,723$4,224$3,771$3,363$2,995$2,425
12 years$4,285$3,791$3,347$2,950$2,595$2,055
13 years$3,915$3,426$2,990$2,604$2,263$1,751
14 years$3,598$3,114$2,687$2,312$1,984$1,499
15 years$3,324$2,845$2,426$2,062$1,747$1,288
16 years$3,084$2,610$2,199$1,846$1,544$1,111
17 years$2,872$2,404$2,001$1,659$1,369$961
18 years$2,684$2,221$1,827$1,495$1,217$833
19 years$2,516$2,059$1,673$1,351$1,085$723
20 years$2,365$1,913$1,535$1,223$969$630
21 years$2,229$1,782$1,412$1,110$867$549
22 years$2,105$1,663$1,301$1,009$777$479
23 years$1,993$1,556$1,201$919$698$418
24 years$1,889$1,458$1,111$838$627$366
25 years$1,794$1,368$1,029$766$564$320
26 years$1,707$1,286$954$700$508$280
27 years$1,626$1,210$886$641$458$246
28 years$1,551$1,140$824$587$414$215
29 years$1,482$1,075$767$538$373$189
30 years$1,417$1,016$714$494$337$166
31 years$1,356$960$666$454$305$146
32 years$1,300$908$621$417$276$128
33 years$1,246$860$580$384$250$112
34 years$1,197$815$542$353$226$99
35 years$1,150$773$507$325$205$87
36 years$1,105$734$474$299$186$76
37 years$1,064$697$444$276$168$67
38 years$1,024$663$415$254$152$59
39 years$987$630$389$234$138$52
40 years$952$599$365$216$125$46
41 years$918$571$342$199$114$40
42 years$886$543$321$184$103$35
43 years$856$518$301$170$94$31
44 years$827$494$283$157$85$27
45 years$799$471$265$145$77$24
46 years$773$449$249$134$70$21
47 years$748$428$234$124$64$19
48 years$724$409$220$114$58$16
49 years$701$391$207$106$52$14
50 years$680$373$194$98$48$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $696,000, adding $4,615 every year, while hoping to spend $50,881 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: 72/11/17 Blend
73$696,000$696,000$696,000$696,000
74$771,752$734,864$724,076$823,949
75$796,334$716,736$694,196$841,090
76$821,718$696,013$661,609$853,258
77$847,932$672,517$626,172$865,269
78$875,005$646,054$587,733$877,096
79$902,968$616,424$546,134$888,714
80$931,853$583,410$501,212$900,093
81$961,693$546,788$452,793$911,205
82$992,522$506,318$400,698$922,017
83$1,024,377$461,745$344,740$932,496
84$1,057,296$412,803$284,721$942,607
85$1,091,318$359,208$220,437$952,314
86$1,126,485$300,662$151,674$961,576
87$1,162,840$236,848$78,209$970,354
88$1,200,429$167,433$0$978,603
89$1,239,301$92,065$0$986,315
90$1,279,504$10,371$0$1,008,547
91$1,321,093$0$0$1,031,096
92$1,364,123$0$0$1,063,404
93$1,408,653$0$0$1,098,139
94$1,454,745$0$0$1,134,094
95$1,502,464$0$0$1,171,322
96$1,551,879$0$0$1,209,875
97$1,603,064$0$0$1,249,811
98$1,656,096$0$0$1,291,192
99$1,711,057$0$0$1,334,081
100$1,768,034$0$0$1,378,548