Can I retire at age 74 with 941,000?

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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$77,707$77,015$76,339$75,680$75,037$73,163
2 years$38,469$37,752$37,058$36,385$35,732$33,856
3 years$25,391$24,672$23,979$23,312$22,670$20,851
4 years$18,854$18,136$17,451$16,795$16,168$14,420
5 years$14,932$14,219$13,542$12,900$12,291$10,618
6 years$12,319$11,611$10,944$10,316$9,725$8,129
7 years$10,453$9,751$9,095$8,482$7,909$6,390
8 years$9,054$8,358$7,713$7,115$6,562$5,119
9 years$7,966$7,277$6,643$6,060$5,526$4,159
10 years$7,097$6,415$5,792$5,224$4,708$3,415
11 years$6,386$5,711$5,099$4,547$4,049$2,827
12 years$5,794$5,125$4,525$3,988$3,509$2,357
13 years$5,293$4,632$4,043$3,521$3,060$1,975
14 years$4,865$4,210$3,633$3,125$2,682$1,663
15 years$4,493$3,846$3,280$2,787$2,362$1,405
16 years$4,169$3,529$2,974$2,496$2,087$1,190
17 years$3,883$3,250$2,706$2,242$1,851$1,011
18 years$3,629$3,003$2,470$2,021$1,646$861
19 years$3,402$2,783$2,261$1,826$1,467$734
20 years$3,198$2,586$2,075$1,654$1,310$627
21 years$3,014$2,409$1,909$1,501$1,172$536
22 years$2,847$2,249$1,759$1,365$1,051$459
23 years$2,694$2,103$1,624$1,243$943$393
24 years$2,554$1,971$1,502$1,134$848$337
25 years$2,426$1,849$1,391$1,035$763$289
26 years$2,308$1,738$1,290$947$687$248
27 years$2,199$1,636$1,198$866$620$213
28 years$2,097$1,541$1,114$794$559$183
29 years$2,003$1,454$1,037$728$505$157
30 years$1,915$1,373$966$668$456$135
31 years$1,834$1,298$900$614$412$116
32 years$1,757$1,228$840$564$373$100
33 years$1,685$1,163$784$519$338$86
34 years$1,618$1,102$733$477$306$74
35 years$1,554$1,046$685$439$277$64
36 years$1,495$992$641$404$251$55
37 years$1,438$943$600$373$227$47
38 years$1,385$896$562$344$206$41
39 years$1,334$852$526$317$187$35
40 years$1,286$810$493$292$170$30
41 years$1,241$771$463$270$154$26
42 years$1,198$735$434$249$140$22
43 years$1,157$700$407$230$127$19
44 years$1,118$667$382$212$115$17
45 years$1,081$636$359$196$104$14
46 years$1,045$607$337$181$95$12
47 years$1,012$579$317$167$86$11
48 years$979$553$298$154$78$9
49 years$948$528$280$143$71$8
50 years$919$504$263$132$64$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $941,000, adding $6,244 every year, while hoping to spend $55,191 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: 65/9/26 Blend
73$941,000$941,000$941,000$941,000
74$1,043,423$993,550$978,964$1,103,751
75$1,091,129$983,511$953,037$1,135,183
76$1,141,852$971,130$924,391$1,162,796
77$1,195,840$956,235$892,877$1,191,746
78$1,253,367$938,642$858,340$1,222,167
79$1,314,731$918,156$820,616$1,254,213
80$1,380,261$894,573$779,533$1,288,052
81$1,450,315$867,674$734,915$1,323,874
82$1,525,286$837,229$686,573$1,361,888
83$1,605,605$802,994$634,314$1,402,329
84$1,691,747$764,711$577,933$1,445,457
85$1,784,230$722,106$517,219$1,491,559
86$1,883,624$674,892$451,948$1,540,959
87$1,990,554$622,762$381,888$1,594,012
88$2,105,707$565,394$306,798$1,651,116
89$2,229,837$502,446$226,424$1,712,710
90$2,363,773$433,559$140,502$1,779,284
91$2,508,425$358,350$48,757$1,851,378
92$2,664,794$276,419$0$1,929,596
93$2,833,978$187,338$0$2,028,239
94$3,017,186$90,660$0$2,149,732
95$3,215,747$0$0$2,281,440
96$3,431,121$0$0$2,425,758
97$3,664,916$0$0$2,592,219
98$3,918,898$0$0$2,773,108
99$4,195,011$0$0$2,969,817
100$4,495,394$0$0$3,183,877