Can I retire at age 73 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$89,185$88,391$87,616$86,859$86,121$85,542
2 years$44,151$43,329$42,532$41,759$41,010$40,426
3 years$29,142$28,316$27,521$26,756$26,018$25,448
4 years$21,638$20,815$20,028$19,276$18,557$18,004
5 years$17,138$16,319$15,543$14,806$14,106$13,573
6 years$14,138$13,326$12,561$11,840$11,162$10,648
7 years$11,997$11,191$10,438$9,735$9,078$8,584
8 years$10,391$9,593$8,852$8,166$7,531$7,057
9 years$9,143$8,352$7,625$6,956$6,342$5,888
10 years$8,145$7,362$6,647$5,996$5,404$4,970
11 years$7,329$6,554$5,852$5,218$4,647$4,233
12 years$6,650$5,883$5,194$4,577$4,027$3,632
13 years$6,075$5,316$4,640$4,041$3,512$3,135
14 years$5,583$4,832$4,169$3,587$3,078$2,720
15 years$5,157$4,414$3,764$3,199$2,711$2,370
16 years$4,785$4,050$3,413$2,864$2,396$2,072
17 years$4,457$3,730$3,106$2,574$2,124$1,817
18 years$4,165$3,447$2,835$2,319$1,889$1,598
19 years$3,905$3,194$2,595$2,096$1,683$1,408
20 years$3,671$2,968$2,382$1,898$1,504$1,243
21 years$3,459$2,765$2,191$1,723$1,346$1,100
22 years$3,267$2,581$2,019$1,566$1,206$974
23 years$3,092$2,414$1,864$1,426$1,083$864
24 years$2,932$2,262$1,724$1,301$973$767
25 years$2,784$2,122$1,597$1,188$876$682
26 years$2,649$1,995$1,481$1,086$789$607
27 years$2,523$1,877$1,375$994$711$540
28 years$2,407$1,769$1,279$911$642$482
29 years$2,299$1,669$1,190$835$579$429
30 years$2,198$1,576$1,108$767$524$383
31 years$2,104$1,490$1,033$704$473$342
32 years$2,017$1,410$964$647$428$305
33 years$1,934$1,335$900$595$387$273
34 years$1,857$1,265$841$548$351$244
35 years$1,784$1,200$786$504$318$218
36 years$1,715$1,139$736$464$288$195
37 years$1,651$1,082$688$428$261$174
38 years$1,589$1,028$645$394$237$156
39 years$1,531$978$604$364$215$139
40 years$1,477$930$566$335$195$125
41 years$1,424$885$531$309$177$111
42 years$1,375$843$498$285$160$100
43 years$1,328$803$467$264$145$89
44 years$1,283$766$439$243$132$80
45 years$1,241$730$412$225$120$72
46 years$1,200$697$387$208$109$64
47 years$1,161$665$363$192$99$57
48 years$1,124$635$341$177$90$51
49 years$1,088$606$321$164$81$46
50 years$1,054$579$302$151$74$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $1,080,000, adding $4,420 every year, while hoping to spend $35,136 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: 60/27/13 Blend
72$1,080,000$1,080,000$1,080,000$1,080,000
73$1,194,719$1,137,479$1,120,739$1,262,334
74$1,279,196$1,155,831$1,120,900$1,326,714
75$1,371,112$1,173,905$1,119,888$1,392,565
76$1,471,189$1,191,650$1,117,627$1,463,554
77$1,580,220$1,209,011$1,114,038$1,540,179
78$1,699,081$1,225,930$1,109,036$1,622,991
79$1,828,732$1,242,345$1,102,533$1,712,597
80$1,970,232$1,258,190$1,094,438$1,809,665
81$2,124,747$1,273,392$1,084,653$1,914,933
82$2,293,559$1,287,876$1,073,077$2,029,214
83$2,478,080$1,301,561$1,059,603$2,153,405
84$2,679,867$1,314,360$1,044,122$2,288,493
85$2,900,629$1,326,179$1,026,516$2,435,570
86$3,142,253$1,336,922$1,006,664$2,595,838
87$3,406,814$1,346,482$984,439$2,770,622
88$3,696,598$1,354,749$959,706$2,961,384
89$4,014,122$1,361,602$932,327$3,169,737
90$4,362,158$1,366,917$902,156$3,397,457
91$4,743,760$1,370,557$869,040$3,646,507
92$5,162,289$1,372,381$832,819$3,919,046
93$5,621,451$1,372,236$793,327$4,217,459
94$6,125,325$1,369,961$750,389$4,544,374
95$6,678,404$1,365,384$703,822$4,902,690
96$7,285,638$1,358,325$653,438$5,295,602
97$7,952,480$1,348,591$599,035$5,726,635
98$8,684,937$1,335,976$540,407$6,199,675
99$9,489,626$1,320,264$477,336$6,719,007
100$10,373,836$1,301,225$409,594$7,289,354