Can I retire at age 74 with 887,000?

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 $887,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$73,248$72,595$71,959$71,337$70,731$68,659
2 years$36,261$35,586$34,931$34,297$33,681$31,611
3 years$23,934$23,256$22,603$21,974$21,369$19,365
4 years$17,772$17,095$16,449$15,831$15,240$13,318
5 years$14,075$13,403$12,765$12,160$11,585$9,750
6 years$11,612$10,945$10,316$9,724$9,167$7,420
7 years$9,853$9,191$8,573$7,995$7,455$5,796
8 years$8,534$7,879$7,270$6,707$6,185$4,613
9 years$7,509$6,860$6,262$5,713$5,209$3,723
10 years$6,689$6,047$5,459$4,924$4,438$3,036
11 years$6,019$5,383$4,806$4,286$3,817$2,496
12 years$5,461$4,831$4,265$3,759$3,308$2,066
13 years$4,990$4,366$3,811$3,319$2,884$1,719
14 years$4,585$3,969$3,424$2,946$2,528$1,436
15 years$4,236$3,625$3,092$2,627$2,226$1,204
16 years$3,930$3,326$2,803$2,352$1,967$1,012
17 years$3,660$3,063$2,551$2,114$1,745$853
18 years$3,421$2,831$2,328$1,905$1,551$720
19 years$3,207$2,623$2,131$1,721$1,383$609
20 years$3,015$2,438$1,956$1,559$1,235$516
21 years$2,841$2,271$1,799$1,415$1,105$437
22 years$2,683$2,120$1,658$1,286$991$371
23 years$2,539$1,983$1,531$1,172$889$315
24 years$2,408$1,857$1,416$1,068$799$268
25 years$2,287$1,743$1,312$976$719$228
26 years$2,175$1,638$1,216$892$648$194
27 years$2,072$1,542$1,130$817$584$165
28 years$1,977$1,453$1,050$748$527$140
29 years$1,888$1,371$977$686$476$120
30 years$1,806$1,294$910$630$430$102
31 years$1,728$1,224$849$578$389$87
32 years$1,656$1,158$792$532$352$74
33 years$1,588$1,096$739$489$318$63
34 years$1,525$1,039$691$450$288$54
35 years$1,465$986$646$414$261$46
36 years$1,409$936$604$381$236$39
37 years$1,356$889$565$351$214$33
38 years$1,305$844$529$324$194$28
39 years$1,258$803$496$299$176$24
40 years$1,213$764$465$275$160$21
41 years$1,170$727$436$254$145$18
42 years$1,129$693$409$234$132$15
43 years$1,091$660$384$216$119$13
44 years$1,054$629$360$200$108$11
45 years$1,019$600$338$185$98$9
46 years$985$572$318$170$89$8
47 years$954$546$298$158$81$7
48 years$923$521$280$146$74$6
49 years$894$498$264$135$67$5
50 years$866$476$248$124$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $887,000, adding $6,675 every year, while hoping to spend $44,969 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: 59/26/15 Blend
73$887,000$887,000$887,000$887,000
74$984,359$937,348$923,600$1,038,307
75$1,036,917$935,432$906,694$1,073,602
76$1,093,329$931,914$887,714$1,106,496
77$1,153,940$926,669$866,544$1,141,313
78$1,219,130$919,564$843,061$1,178,244
79$1,289,315$910,456$817,137$1,217,503
80$1,364,952$899,196$788,639$1,259,325
81$1,446,545$885,624$757,426$1,303,972
82$1,534,645$869,572$723,352$1,351,734
83$1,629,858$850,861$686,264$1,402,933
84$1,732,852$829,301$646,002$1,457,926
85$1,844,358$804,692$602,398$1,517,109
86$1,965,183$776,822$555,279$1,580,921
87$2,096,212$745,467$504,461$1,649,849
88$2,238,419$710,388$449,754$1,724,431
89$2,392,876$671,335$390,959$1,805,266
90$2,560,760$628,042$327,867$1,893,014
91$2,743,369$580,228$260,262$1,988,408
92$2,942,129$527,595$187,917$2,092,260
93$3,158,609$469,829$110,594$2,205,468
94$3,394,535$406,599$28,048$2,329,026
95$3,651,809$337,554$0$2,464,034
96$3,932,523$262,323$0$2,621,320
97$4,238,978$180,515$0$2,798,036
98$4,573,710$91,717$0$2,991,223
99$4,939,509$0$0$3,202,577
100$5,339,447$0$0$3,435,258