Can I retire at age 73 with 1,320,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$109,004$108,033$107,086$106,161$105,259$104,159
2 years$53,963$52,958$51,984$51,039$50,123$49,016
3 years$35,618$34,608$33,637$32,701$31,800$30,720
4 years$26,447$25,441$24,479$23,559$22,680$21,635
5 years$20,946$19,946$18,997$18,096$17,241$16,234
6 years$17,280$16,287$15,352$14,471$13,642$12,674
7 years$14,662$13,678$12,758$11,898$11,095$10,166
8 years$12,700$11,725$10,820$9,981$9,204$8,315
9 years$11,175$10,208$9,319$8,501$7,751$6,902
10 years$9,955$8,998$8,124$7,328$6,604$5,794
11 years$8,958$8,011$7,153$6,378$5,680$4,907
12 years$8,127$7,190$6,348$5,594$4,922$4,187
13 years$7,425$6,498$5,671$4,939$4,292$3,593
14 years$6,824$5,906$5,096$4,384$3,763$3,099
15 years$6,303$5,395$4,601$3,910$3,313$2,684
16 years$5,848$4,950$4,171$3,501$2,928$2,332
17 years$5,447$4,559$3,796$3,146$2,596$2,032
18 years$5,091$4,213$3,465$2,835$2,308$1,776
19 years$4,772$3,904$3,172$2,561$2,057$1,555
20 years$4,486$3,628$2,911$2,320$1,838$1,364
21 years$4,228$3,379$2,678$2,105$1,645$1,199
22 years$3,993$3,154$2,468$1,914$1,474$1,055
23 years$3,779$2,950$2,279$1,743$1,323$929
24 years$3,583$2,764$2,107$1,590$1,189$819
25 years$3,403$2,594$1,952$1,452$1,070$723
26 years$3,237$2,438$1,810$1,328$964$639
27 years$3,084$2,294$1,681$1,215$869$565
28 years$2,942$2,162$1,563$1,114$784$500
29 years$2,810$2,040$1,454$1,021$708$442
30 years$2,687$1,926$1,355$937$640$392
31 years$2,572$1,821$1,263$861$579$347
32 years$2,465$1,723$1,178$791$523$308
33 years$2,364$1,632$1,100$727$474$273
34 years$2,269$1,546$1,028$669$429$242
35 years$2,180$1,467$961$616$388$214
36 years$2,096$1,392$899$567$352$190
37 years$2,017$1,322$841$523$319$169
38 years$1,943$1,257$788$482$289$150
39 years$1,872$1,195$738$444$262$133
40 years$1,805$1,137$692$410$238$118
41 years$1,741$1,082$649$378$216$105
42 years$1,681$1,031$609$349$196$93
43 years$1,623$982$571$322$178$83
44 years$1,568$936$536$297$161$74
45 years$1,516$893$503$275$146$65
46 years$1,466$852$473$254$133$58
47 years$1,419$813$444$234$121$52
48 years$1,374$776$417$217$110$46
49 years$1,330$741$392$200$100$41
50 years$1,289$708$369$185$90$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $1,320,000, adding $2,047 every year, while hoping to spend $28,992 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: 49/23/28 Blend
72$1,320,000$1,320,000$1,320,000$1,320,000
73$1,456,751$1,386,791$1,366,331$1,516,448
74$1,574,493$1,423,897$1,381,256$1,595,625
75$1,703,272$1,461,849$1,395,709$1,678,571
76$1,844,185$1,500,658$1,409,644$1,768,128
77$1,998,436$1,540,335$1,423,012$1,864,935
78$2,167,355$1,580,890$1,435,762$1,969,697
79$2,352,404$1,622,332$1,447,838$2,083,191
80$2,555,193$1,664,670$1,459,185$2,206,271
81$2,777,496$1,707,913$1,469,741$2,339,881
82$3,021,267$1,752,066$1,479,443$2,485,058
83$3,288,657$1,797,138$1,488,225$2,642,947
84$3,582,036$1,843,134$1,496,017$2,814,809
85$3,904,014$1,890,059$1,502,744$3,002,033
86$4,257,468$1,937,916$1,508,331$3,206,151
87$4,645,565$1,986,709$1,512,694$3,428,849
88$5,071,793$2,036,438$1,515,750$3,671,989
89$5,539,996$2,087,104$1,517,408$3,937,619
90$6,054,408$2,138,705$1,517,574$4,227,999
91$6,619,695$2,191,238$1,516,150$4,545,618
92$7,240,995$2,244,700$1,513,032$4,893,220
93$7,923,969$2,299,083$1,508,111$5,273,829
94$8,674,855$2,354,379$1,501,274$5,690,779
95$9,500,524$2,410,578$1,492,401$6,147,743
96$10,408,548$2,467,667$1,481,367$6,648,770
97$11,407,268$2,525,630$1,468,041$7,198,324
98$12,505,875$2,584,451$1,452,285$7,801,322
99$13,714,494$2,644,109$1,433,956$8,463,186
100$15,044,282$2,704,580$1,412,904$9,189,891