Can I retire at age 74 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$79,937$79,225$78,530$77,852$77,190$76,607
2 years$39,573$38,836$38,121$37,429$36,757$36,169
3 years$26,120$25,379$24,667$23,981$23,320$22,746
4 years$19,395$18,657$17,951$17,277$16,632$16,076
5 years$15,360$14,627$13,931$13,270$12,643$12,107
6 years$12,672$11,944$11,258$10,612$10,004$9,488
7 years$10,752$10,031$9,356$8,725$8,136$7,640
8 years$9,313$8,598$7,934$7,319$6,750$6,274
9 years$8,195$7,486$6,834$6,234$5,684$5,229
10 years$7,300$6,599$5,958$5,374$4,843$4,408
11 years$6,569$5,874$5,245$4,677$4,165$3,750
12 years$5,960$5,273$4,655$4,102$3,610$3,213
13 years$5,445$4,765$4,159$3,622$3,148$2,770
14 years$5,004$4,331$3,737$3,215$2,759$2,400
15 years$4,622$3,957$3,374$2,867$2,429$2,088
16 years$4,289$3,630$3,059$2,567$2,147$1,823
17 years$3,994$3,343$2,783$2,307$1,904$1,597
18 years$3,733$3,089$2,541$2,079$1,693$1,402
19 years$3,500$2,863$2,326$1,878$1,509$1,234
20 years$3,290$2,660$2,135$1,701$1,348$1,088
21 years$3,100$2,478$1,964$1,544$1,206$961
22 years$2,928$2,313$1,810$1,404$1,081$850
23 years$2,771$2,164$1,671$1,278$970$753
24 years$2,628$2,027$1,545$1,166$872$668
25 years$2,496$1,902$1,431$1,065$785$592
26 years$2,374$1,788$1,327$974$707$526
27 years$2,262$1,683$1,233$891$637$468
28 years$2,157$1,586$1,146$817$575$416
29 years$2,061$1,496$1,066$749$519$370
30 years$1,970$1,413$993$687$469$330
31 years$1,886$1,335$926$631$424$294
32 years$1,807$1,264$864$580$384$262
33 years$1,734$1,197$807$533$347$234
34 years$1,664$1,134$754$491$314$208
35 years$1,599$1,076$705$452$285$186
36 years$1,537$1,021$659$416$258$166
37 years$1,479$970$617$383$234$148
38 years$1,425$922$578$353$212$132
39 years$1,373$876$541$326$192$118
40 years$1,323$834$507$301$174$106
41 years$1,277$794$476$277$158$94
42 years$1,232$756$446$256$144$84
43 years$1,190$720$419$236$130$75
44 years$1,150$686$393$218$118$67
45 years$1,112$655$369$201$107$60
46 years$1,075$624$347$186$97$54
47 years$1,041$596$326$172$89$48
48 years$1,007$569$306$159$80$43
49 years$976$543$288$147$73$38
50 years$945$519$270$136$66$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $968,000, adding $5,583 every year, while hoping to spend $26,602 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: 55/39/6 Blend
73$968,000$968,000$968,000$968,000
74$1,072,495$1,021,191$1,006,187$1,129,767
75$1,153,585$1,042,925$1,011,590$1,190,773
76$1,242,055$1,064,832$1,016,282$1,253,717
77$1,338,629$1,086,894$1,020,212$1,321,591
78$1,444,105$1,109,087$1,023,325$1,394,866
79$1,559,361$1,131,390$1,025,564$1,474,061
80$1,685,363$1,153,776$1,026,868$1,559,748
81$1,823,177$1,176,217$1,027,175$1,652,558
82$1,973,974$1,198,685$1,026,418$1,753,183
83$2,139,045$1,221,145$1,024,528$1,862,390
84$2,319,809$1,243,564$1,021,432$1,981,019
85$2,517,834$1,265,902$1,017,054$2,110,000
86$2,734,841$1,288,120$1,011,313$2,250,355
87$2,972,728$1,310,171$1,004,126$2,403,212
88$3,233,587$1,332,010$995,404$2,569,812
89$3,519,719$1,353,585$985,056$2,751,524
90$3,833,660$1,374,840$972,985$2,949,857
91$4,178,203$1,395,717$959,090$3,166,474
92$4,556,425$1,416,152$943,265$3,403,206
93$4,971,715$1,436,079$925,400$3,662,075
94$5,427,807$1,455,423$905,377$3,945,305
95$5,928,813$1,474,109$883,077$4,255,350
96$6,479,264$1,492,052$858,372$4,594,915
97$7,084,150$1,509,164$831,129$4,966,980
98$7,748,971$1,525,350$801,209$5,374,831
99$8,479,784$1,540,511$768,468$5,822,089
100$9,283,263$1,554,537$732,753$6,312,746