Can I retire at age 73 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$87,534$86,754$85,993$85,251$84,526$82,921
2 years$43,334$42,527$41,744$40,986$40,250$38,640
3 years$28,602$27,792$27,011$26,260$25,537$23,970
4 years$21,238$20,430$19,657$18,919$18,213$16,703
5 years$16,820$16,017$15,255$14,532$13,845$12,396
6 years$13,876$13,079$12,328$11,621$10,955$9,569
7 years$11,774$10,984$10,245$9,554$8,909$7,586
8 years$10,199$9,415$8,688$8,015$7,391$6,130
9 years$8,974$8,198$7,483$6,827$6,225$5,025
10 years$7,994$7,226$6,524$5,885$5,304$4,165
11 years$7,193$6,433$5,744$5,122$4,561$3,481
12 years$6,526$5,774$5,097$4,492$3,953$2,931
13 years$5,963$5,218$4,554$3,966$3,447$2,481
14 years$5,480$4,743$4,092$3,521$3,021$2,110
15 years$5,062$4,333$3,695$3,140$2,660$1,801
16 years$4,696$3,975$3,350$2,811$2,351$1,542
17 years$4,374$3,661$3,048$2,526$2,085$1,324
18 years$4,088$3,383$2,782$2,276$1,854$1,140
19 years$3,832$3,135$2,547$2,057$1,652$983
20 years$3,603$2,913$2,338$1,863$1,476$849
21 years$3,395$2,714$2,150$1,691$1,321$734
22 years$3,206$2,533$1,982$1,537$1,184$636
23 years$3,035$2,369$1,830$1,400$1,063$551
24 years$2,877$2,220$1,692$1,277$955$478
25 years$2,733$2,083$1,567$1,166$859$415
26 years$2,600$1,958$1,454$1,066$774$361
27 years$2,477$1,843$1,350$976$698$313
28 years$2,363$1,736$1,255$894$630$273
29 years$2,256$1,638$1,168$820$569$237
30 years$2,158$1,547$1,088$753$514$206
31 years$2,065$1,462$1,014$691$465$180
32 years$1,979$1,384$946$635$420$157
33 years$1,898$1,310$883$584$380$136
34 years$1,822$1,242$825$537$344$119
35 years$1,751$1,178$772$495$312$104
36 years$1,684$1,118$722$456$283$90
37 years$1,620$1,062$676$420$256$79
38 years$1,560$1,009$633$387$232$69
39 years$1,503$960$593$357$211$60
40 years$1,449$913$556$329$191$52
41 years$1,398$869$521$304$173$46
42 years$1,350$828$489$280$157$40
43 years$1,303$789$459$259$143$35
44 years$1,259$752$430$239$130$30
45 years$1,218$717$404$221$118$26
46 years$1,178$684$380$204$107$23
47 years$1,140$653$357$188$97$20
48 years$1,103$623$335$174$88$17
49 years$1,068$595$315$161$80$15
50 years$1,035$568$296$149$73$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $1,060,000, adding $3,460 every year, while hoping to spend $41,741 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: 61/12/27 Blend
72$1,060,000$1,060,000$1,060,000$1,060,000
73$1,171,689$1,115,509$1,099,079$1,234,470
74$1,246,789$1,125,757$1,091,486$1,287,827
75$1,328,151$1,135,108$1,082,240$1,341,224
76$1,416,368$1,143,474$1,071,241$1,398,621
77$1,512,095$1,150,762$1,058,385$1,460,415
78$1,616,050$1,156,871$1,043,562$1,527,048
79$1,729,026$1,161,696$1,026,660$1,599,005
80$1,851,891$1,165,123$1,007,558$1,676,825
81$1,985,603$1,167,034$986,130$1,761,100
82$2,131,216$1,167,300$962,247$1,852,487
83$2,289,888$1,165,786$935,771$1,951,709
84$2,462,896$1,162,348$906,558$2,059,567
85$2,651,642$1,156,835$874,459$2,176,942
86$2,857,673$1,149,083$839,317$2,304,810
87$3,082,690$1,138,922$800,967$2,444,247
88$3,328,564$1,126,169$759,240$2,596,441
89$3,597,358$1,110,632$713,955$2,762,704
90$3,891,342$1,092,105$664,925$2,944,483
91$4,213,013$1,070,373$611,955$3,143,378
92$4,565,125$1,045,206$554,840$3,361,152
93$4,950,708$1,016,361$493,367$3,599,752
94$5,373,098$983,581$427,313$3,861,327
95$5,835,971$946,593$356,444$4,148,249
96$6,343,373$905,109$280,518$4,463,133
97$6,899,762$858,825$199,281$4,808,868
98$7,510,049$807,418$112,468$5,188,638
99$8,179,639$750,547$19,801$5,605,961
100$8,914,490$687,852$0$6,064,712