Can I retire at age 74 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$77,789$77,097$76,421$75,761$75,116$74,147
2 years$38,510$37,792$37,097$36,423$35,770$34,794
3 years$25,418$24,698$24,004$23,337$22,694$21,743
4 years$18,874$18,155$17,469$16,813$16,185$15,266
5 years$14,948$14,234$13,557$12,914$12,304$11,419
6 years$12,332$11,623$10,956$10,327$9,736$8,887
7 years$10,464$9,761$9,104$8,491$7,918$7,104
8 years$9,063$8,367$7,721$7,123$6,568$5,791
9 years$7,975$7,285$6,650$6,067$5,532$4,789
10 years$7,104$6,421$5,798$5,230$4,713$4,006
11 years$6,393$5,717$5,104$4,551$4,054$3,380
12 years$5,800$5,131$4,530$3,992$3,513$2,873
13 years$5,299$4,637$4,047$3,525$3,063$2,456
14 years$4,870$4,215$3,636$3,129$2,685$2,110
15 years$4,498$3,850$3,283$2,790$2,364$1,820
16 years$4,173$3,533$2,977$2,498$2,089$1,575
17 years$3,887$3,253$2,709$2,245$1,853$1,367
18 years$3,633$3,006$2,473$2,023$1,647$1,189
19 years$3,406$2,786$2,264$1,828$1,468$1,037
20 years$3,202$2,589$2,077$1,656$1,312$905
21 years$3,017$2,412$1,911$1,503$1,174$792
22 years$2,850$2,251$1,761$1,366$1,052$694
23 years$2,697$2,105$1,626$1,244$944$608
24 years$2,557$1,973$1,504$1,135$849$534
25 years$2,429$1,851$1,393$1,036$764$469
26 years$2,310$1,740$1,292$948$688$412
27 years$2,201$1,637$1,200$867$620$363
28 years$2,100$1,543$1,115$795$560$319
29 years$2,005$1,456$1,038$729$505$281
30 years$1,918$1,375$967$669$457$248
31 years$1,836$1,299$901$614$413$219
32 years$1,759$1,230$841$564$373$193
33 years$1,687$1,164$785$519$338$170
34 years$1,619$1,104$734$478$306$150
35 years$1,556$1,047$686$440$277$132
36 years$1,496$994$642$405$251$117
37 years$1,440$944$600$373$228$103
38 years$1,386$897$562$344$206$91
39 years$1,336$853$527$317$187$81
40 years$1,288$811$494$292$170$71
41 years$1,242$772$463$270$154$63
42 years$1,199$736$434$249$140$56
43 years$1,158$701$408$230$127$49
44 years$1,119$668$383$212$115$43
45 years$1,082$637$359$196$104$38
46 years$1,047$608$337$181$95$34
47 years$1,013$580$317$167$86$30
48 years$980$554$298$155$78$26
49 years$949$529$280$143$71$23
50 years$920$505$263$132$65$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $942,000, adding $2,327 every year, while hoping to spend $39,587 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: 68/25/7 Blend
73$942,000$942,000$942,000$942,000
74$1,040,484$990,558$975,957$1,109,875
75$1,104,493$996,975$966,532$1,162,580
76$1,173,705$1,002,380$955,463$1,215,172
77$1,248,607$1,006,681$942,656$1,271,617
78$1,329,738$1,009,781$928,007$1,332,285
79$1,417,687$1,011,577$911,412$1,397,584
80$1,513,106$1,011,959$892,759$1,467,963
81$1,616,708$1,010,810$871,932$1,543,920
82$1,729,279$1,008,007$848,808$1,626,003
83$1,851,684$1,003,417$823,262$1,714,815
84$1,984,874$996,903$795,159$1,811,023
85$2,129,895$988,315$764,361$1,915,364
86$2,287,899$977,498$730,722$2,028,647
87$2,460,154$964,284$694,090$2,151,769
88$2,648,053$948,497$654,306$2,285,716
89$2,853,132$929,952$611,203$2,431,579
90$3,077,082$908,449$564,608$2,590,560
91$3,321,761$883,780$514,339$2,763,984
92$3,589,219$855,723$460,208$2,953,315
93$3,881,709$824,043$402,014$3,160,166
94$4,201,714$788,493$339,553$3,386,318
95$4,551,969$748,808$272,608$3,633,735
96$4,935,482$704,712$200,952$3,904,584
97$5,355,568$655,911$124,352$4,201,254
98$5,815,879$602,093$42,560$4,526,382
99$6,320,434$542,931$0$4,882,875
100$6,873,660$478,076$0$5,277,283