Can I retire at age 74 with 965,000?

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 $965,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$79,689$78,979$78,286$77,610$76,950$75,895
2 years$39,450$38,715$38,003$37,313$36,643$35,581
3 years$26,039$25,301$24,591$23,907$23,248$22,213
4 years$19,334$18,599$17,896$17,223$16,581$15,581
5 years$15,313$14,582$13,888$13,229$12,604$11,642
6 years$12,633$11,907$11,223$10,580$9,973$9,050
7 years$10,719$9,999$9,327$8,698$8,111$7,227
8 years$9,285$8,571$7,910$7,297$6,729$5,884
9 years$8,169$7,463$6,813$6,215$5,667$4,861
10 years$7,278$6,578$5,939$5,357$4,828$4,061
11 years$6,549$5,856$5,229$4,663$4,152$3,422
12 years$5,942$5,256$4,641$4,090$3,598$2,905
13 years$5,428$4,750$4,146$3,611$3,138$2,480
14 years$4,989$4,318$3,725$3,205$2,751$2,128
15 years$4,608$3,944$3,363$2,858$2,422$1,833
16 years$4,275$3,619$3,049$2,559$2,141$1,584
17 years$3,982$3,333$2,775$2,300$1,898$1,373
18 years$3,722$3,080$2,533$2,072$1,688$1,192
19 years$3,489$2,854$2,319$1,873$1,504$1,038
20 years$3,280$2,652$2,128$1,696$1,344$905
21 years$3,091$2,470$1,958$1,539$1,202$791
22 years$2,919$2,306$1,804$1,399$1,078$691
23 years$2,763$2,157$1,666$1,275$967$605
24 years$2,619$2,021$1,541$1,162$870$531
25 years$2,488$1,896$1,427$1,062$782$465
26 years$2,367$1,782$1,323$971$705$409
27 years$2,255$1,677$1,229$888$635$359
28 years$2,151$1,581$1,142$814$573$315
29 years$2,054$1,491$1,063$746$518$277
30 years$1,964$1,408$990$685$468$244
31 years$1,880$1,331$923$629$423$215
32 years$1,802$1,260$861$578$383$189
33 years$1,728$1,193$804$532$346$167
34 years$1,659$1,131$751$489$313$147
35 years$1,594$1,072$703$450$284$129
36 years$1,533$1,018$657$415$257$114
37 years$1,475$967$615$382$233$100
38 years$1,420$919$576$352$211$89
39 years$1,368$874$540$325$192$78
40 years$1,319$831$506$300$174$69
41 years$1,273$791$474$276$158$61
42 years$1,229$753$445$255$143$54
43 years$1,187$718$418$235$130$47
44 years$1,147$684$392$217$118$42
45 years$1,108$653$368$201$107$37
46 years$1,072$623$346$185$97$32
47 years$1,037$594$325$171$88$29
48 years$1,004$567$305$158$80$25
49 years$973$542$287$146$73$22
50 years$942$517$270$135$66$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $965,000, adding $2,642 every year, while hoping to spend $22,020 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: 67/11/22 Blend
73$965,000$965,000$965,000$965,000
74$1,066,155$1,015,010$1,000,053$1,131,468
75$1,151,474$1,041,317$1,010,125$1,201,909
76$1,244,757$1,068,174$1,019,797$1,276,142
77$1,346,794$1,095,586$1,029,032$1,356,804
78$1,458,453$1,123,556$1,037,791$1,444,530
79$1,580,692$1,152,087$1,046,034$1,540,015
80$1,714,563$1,181,180$1,053,717$1,644,030
81$1,861,228$1,210,837$1,060,795$1,757,419
82$2,021,963$1,241,058$1,067,222$1,881,117
83$2,198,177$1,271,843$1,072,947$2,016,151
84$2,391,418$1,303,191$1,077,918$2,163,653
85$2,603,394$1,335,099$1,082,080$2,324,871
86$2,835,986$1,367,564$1,085,375$2,501,179
87$3,091,264$1,400,582$1,087,742$2,694,094
88$3,371,509$1,434,147$1,089,118$2,905,283
89$3,679,235$1,468,252$1,089,436$3,136,586
90$4,017,210$1,502,889$1,088,624$3,390,031
91$4,388,483$1,538,048$1,086,611$3,667,851
92$4,796,413$1,573,717$1,083,317$3,972,508
93$5,244,702$1,609,884$1,078,663$4,306,714
94$5,737,427$1,646,534$1,072,564$4,673,459
95$6,279,079$1,683,649$1,064,929$5,076,038
96$6,874,608$1,721,210$1,055,667$5,518,080
97$7,529,465$1,759,196$1,044,679$6,003,586
98$8,249,657$1,797,584$1,031,862$6,536,967
99$9,041,802$1,836,346$1,017,110$7,123,080
100$9,913,193$1,875,454$1,000,311$7,767,282