Can I retire at age 74 with 703,000?

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 $703,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$58,053$57,536$57,031$56,539$56,058$55,473
2 years$28,739$28,204$27,685$27,182$26,694$26,105
3 years$18,969$18,432$17,914$17,416$16,936$16,361
4 years$14,085$13,549$13,037$12,547$12,079$11,522
5 years$11,155$10,623$10,117$9,637$9,182$8,646
6 years$9,203$8,674$8,176$7,707$7,266$6,750
7 years$7,809$7,285$6,794$6,336$5,909$5,414
8 years$6,764$6,244$5,762$5,316$4,902$4,429
9 years$5,951$5,437$4,963$4,528$4,128$3,676
10 years$5,302$4,792$4,327$3,903$3,517$3,085
11 years$4,771$4,266$3,809$3,397$3,025$2,613
12 years$4,328$3,829$3,381$2,979$2,621$2,230
13 years$3,954$3,460$3,020$2,630$2,286$1,914
14 years$3,634$3,145$2,714$2,335$2,004$1,650
15 years$3,357$2,873$2,450$2,082$1,764$1,429
16 years$3,115$2,636$2,221$1,864$1,559$1,242
17 years$2,901$2,428$2,021$1,675$1,383$1,082
18 years$2,711$2,244$1,845$1,510$1,229$946
19 years$2,542$2,079$1,689$1,364$1,096$828
20 years$2,389$1,932$1,550$1,236$979$726
21 years$2,252$1,800$1,426$1,121$876$638
22 years$2,127$1,680$1,314$1,020$785$562
23 years$2,013$1,571$1,214$928$705$495
24 years$1,908$1,472$1,122$847$633$436
25 years$1,812$1,382$1,039$773$570$385
26 years$1,724$1,298$964$707$513$340
27 years$1,643$1,222$895$647$463$301
28 years$1,567$1,151$832$593$418$266
29 years$1,497$1,086$774$544$377$236
30 years$1,431$1,026$721$499$341$209
31 years$1,370$970$673$458$308$185
32 years$1,313$918$627$421$279$164
33 years$1,259$869$586$387$252$145
34 years$1,209$824$547$356$228$129
35 years$1,161$781$512$328$207$114
36 years$1,117$741$479$302$187$101
37 years$1,074$704$448$278$170$90
38 years$1,035$669$420$257$154$80
39 years$997$636$393$237$140$71
40 years$961$605$369$218$127$63
41 years$927$576$346$201$115$56
42 years$895$549$324$186$104$50
43 years$864$523$304$172$95$44
44 years$835$499$286$158$86$39
45 years$807$475$268$146$78$35
46 years$781$454$252$135$71$31
47 years$756$433$237$125$64$27
48 years$732$413$222$115$58$24
49 years$708$395$209$107$53$22
50 years$686$377$196$99$48$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $703,000, adding $6,337 every year, while hoping to spend $43,523 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: 66/12/22 Blend
73$703,000$703,000$703,000$703,000
74$781,243$743,984$733,087$828,021
75$814,621$734,131$711,337$850,371
76$849,946$722,336$687,400$869,253
77$887,369$708,459$661,157$888,879
78$927,057$692,350$632,482$909,322
79$969,192$673,851$601,246$930,666
80$1,013,974$652,794$567,312$953,004
81$1,061,620$629,001$530,537$976,438
82$1,112,369$602,286$490,774$1,001,087
83$1,166,482$572,449$447,866$1,027,078
84$1,224,245$539,281$401,651$1,054,558
85$1,285,971$502,559$351,960$1,083,688
86$1,352,005$462,049$298,615$1,114,647
87$1,422,722$417,502$241,431$1,147,637
88$1,498,535$368,656$180,216$1,182,881
89$1,579,899$315,233$114,766$1,220,628
90$1,667,310$256,941$44,872$1,261,155
91$1,761,314$193,469$0$1,304,771
92$1,862,511$124,492$0$1,358,795
93$1,971,558$49,663$0$1,428,325
94$2,089,179$0$0$1,503,296
95$2,216,167$0$0$1,588,383
96$2,353,396$0$0$1,687,453
97$2,501,825$0$0$1,794,645
98$2,662,507$0$0$1,910,725
99$2,836,602$0$0$2,036,536
100$3,025,384$0$0$2,173,004