Can I retire at age 73 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$92,489$91,665$90,861$90,076$89,310$88,048
2 years$45,786$44,934$44,107$43,306$42,529$41,260
3 years$30,221$29,365$28,540$27,747$26,982$25,745
4 years$22,440$21,586$20,770$19,990$19,244$18,049
5 years$17,772$16,924$16,118$15,354$14,629$13,480
6 years$14,662$13,820$13,026$12,279$11,575$10,473
7 years$12,441$11,606$10,825$10,095$9,414$8,359
8 years$10,776$9,948$9,180$8,469$7,810$6,802
9 years$9,482$8,662$7,907$7,213$6,577$5,615
10 years$8,447$7,635$6,893$6,218$5,604$4,688
11 years$7,601$6,797$6,069$5,411$4,819$3,949
12 years$6,896$6,100$5,386$4,747$4,176$3,350
13 years$6,300$5,513$4,812$4,191$3,642$2,858
14 years$5,790$5,011$4,324$3,720$3,193$2,450
15 years$5,348$4,578$3,904$3,317$2,811$2,109
16 years$4,962$4,200$3,539$2,970$2,484$1,821
17 years$4,622$3,868$3,221$2,669$2,203$1,577
18 years$4,319$3,574$2,940$2,405$1,959$1,369
19 years$4,049$3,313$2,691$2,173$1,746$1,191
20 years$3,807$3,078$2,470$1,968$1,559$1,038
21 years$3,587$2,867$2,272$1,786$1,395$906
22 years$3,388$2,677$2,094$1,624$1,251$792
23 years$3,206$2,503$1,933$1,479$1,123$693
24 years$3,040$2,345$1,788$1,349$1,009$607
25 years$2,888$2,201$1,656$1,232$908$532
26 years$2,747$2,069$1,536$1,127$818$466
27 years$2,617$1,947$1,426$1,031$737$409
28 years$2,496$1,834$1,326$945$665$359
29 years$2,384$1,731$1,234$866$601$316
30 years$2,280$1,634$1,149$795$543$278
31 years$2,182$1,545$1,071$730$491$244
32 years$2,091$1,462$1,000$671$444$215
33 years$2,006$1,384$933$617$402$189
34 years$1,925$1,312$872$568$364$166
35 years$1,850$1,245$815$523$330$146
36 years$1,779$1,181$763$481$299$129
37 years$1,712$1,122$714$444$271$114
38 years$1,648$1,066$669$409$245$100
39 years$1,588$1,014$626$377$222$88
40 years$1,531$965$587$348$202$78
41 years$1,477$918$551$321$183$68
42 years$1,426$874$516$296$166$60
43 years$1,377$833$485$273$151$53
44 years$1,331$794$455$252$137$47
45 years$1,286$757$427$233$124$41
46 years$1,244$723$401$215$113$36
47 years$1,204$689$377$199$102$32
48 years$1,166$658$354$184$93$28
49 years$1,129$629$333$170$84$25
50 years$1,094$600$313$157$77$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $1,120,000, adding $4,663 every year, while hoping to spend $39,093 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: 49/46/5 Blend
72$1,120,000$1,120,000$1,120,000$1,120,000
73$1,239,050$1,179,690$1,162,330$1,298,016
74$1,323,838$1,195,900$1,159,673$1,354,928
75$1,415,965$1,211,594$1,155,617$1,412,135
76$1,516,137$1,226,706$1,150,074$1,473,332
77$1,625,133$1,241,164$1,142,951$1,538,899
78$1,743,808$1,254,893$1,134,152$1,609,258
79$1,873,104$1,267,811$1,123,574$1,684,873
80$2,014,059$1,279,832$1,111,112$1,766,256
81$2,167,813$1,290,864$1,096,654$1,853,973
82$2,335,622$1,300,808$1,080,084$1,948,650
83$2,518,869$1,309,560$1,061,280$2,050,975
84$2,719,074$1,317,010$1,040,114$2,161,712
85$2,937,914$1,323,037$1,016,452$2,281,699
86$3,177,232$1,327,518$990,154$2,411,866
87$3,439,060$1,330,316$961,075$2,553,237
88$3,725,634$1,331,291$929,060$2,706,942
89$4,039,415$1,330,291$893,950$2,874,231
90$4,383,116$1,327,156$855,578$3,056,482
91$4,759,722$1,321,715$813,768$3,255,215
92$5,172,522$1,313,787$768,338$3,472,111
93$5,625,138$1,303,182$719,096$3,709,022
94$6,121,559$1,289,694$665,843$3,967,995
95$6,666,179$1,273,110$608,369$4,251,286
96$7,263,836$1,253,200$546,457$4,561,389
97$7,919,863$1,229,722$479,878$4,901,053
98$8,640,130$1,202,419$408,396$5,273,313
99$9,431,107$1,171,021$331,760$5,681,518
100$10,299,918$1,135,239$249,712$6,129,364