Can I retire at age 73 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$199,841$198,061$196,325$194,629$192,974$186,947
2 years$98,931$97,089$95,303$93,572$91,892$85,874
3 years$65,299$63,449$61,667$59,952$58,300$52,479
4 years$48,486$46,641$44,878$43,192$41,580$36,001
5 years$38,401$36,567$34,827$33,176$31,609$26,286
6 years$31,680$29,860$28,146$26,531$25,011$19,950
7 years$26,881$25,076$23,389$21,813$20,341$15,541
8 years$23,283$21,495$19,836$18,298$16,874$12,333
9 years$20,487$18,715$17,085$15,586$14,211$9,922
10 years$18,251$16,497$14,895$13,435$12,108$8,066
11 years$16,423$14,686$13,113$11,693$10,413$6,611
12 years$14,900$13,181$11,638$10,256$9,024$5,453
13 years$13,613$11,912$10,397$9,055$7,869$4,521
14 years$12,510$10,828$9,342$8,038$6,898$3,764
15 years$11,556$9,891$8,435$7,168$6,074$3,144
16 years$10,722$9,075$7,647$6,418$5,368$2,633
17 years$9,986$8,358$6,959$5,767$4,760$2,211
18 years$9,333$7,723$6,352$5,197$4,232$1,860
19 years$8,749$7,158$5,815$4,696$3,772$1,567
20 years$8,225$6,651$5,337$4,253$3,369$1,322
21 years$7,751$6,195$4,909$3,860$3,015$1,116
22 years$7,320$5,783$4,524$3,510$2,703$944
23 years$6,928$5,409$4,177$3,196$2,426$798
24 years$6,569$5,068$3,863$2,915$2,181$676
25 years$6,239$4,756$3,578$2,662$1,962$572
26 years$5,935$4,470$3,319$2,434$1,767$485
27 years$5,654$4,207$3,082$2,228$1,594$411
28 years$5,394$3,964$2,865$2,041$1,438$349
29 years$5,152$3,739$2,666$1,872$1,298$296
30 years$4,926$3,531$2,483$1,718$1,173$251
31 years$4,716$3,338$2,315$1,578$1,061$213
32 years$4,519$3,159$2,160$1,450$959$181
33 years$4,334$2,991$2,017$1,334$868$153
34 years$4,160$2,835$1,884$1,227$786$130
35 years$3,997$2,689$1,762$1,129$712$111
36 years$3,844$2,552$1,648$1,040$645$94
37 years$3,698$2,424$1,543$958$585$80
38 years$3,561$2,304$1,445$883$530$68
39 years$3,432$2,191$1,353$815$481$58
40 years$3,309$2,084$1,269$751$436$49
41 years$3,192$1,984$1,190$693$396$42
42 years$3,081$1,890$1,116$640$359$35
43 years$2,976$1,800$1,047$591$326$30
44 years$2,875$1,716$983$545$296$25
45 years$2,780$1,636$923$504$268$22
46 years$2,689$1,561$867$465$244$18
47 years$2,602$1,490$814$430$221$16
48 years$2,518$1,422$765$397$201$13
49 years$2,439$1,358$719$367$183$11
50 years$2,363$1,297$676$339$166$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $2,420,000, adding $3,554 every year, while hoping to spend $51,239 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: 33/48/19 Blend
72$2,420,000$2,420,000$2,420,000$2,420,000
73$2,670,506$2,542,246$2,504,736$2,742,837
74$2,888,380$2,612,298$2,534,127$2,866,811
75$3,126,759$2,684,065$2,562,785$2,995,373
76$3,387,682$2,757,578$2,590,631$3,132,856
77$3,673,392$2,832,866$2,617,584$3,280,074
78$3,986,359$2,909,957$2,643,554$3,437,925
79$4,329,305$2,988,883$2,668,451$3,607,393
80$4,705,226$3,069,670$2,692,176$3,789,564
81$5,117,422$3,152,347$2,714,627$3,985,634
82$5,569,529$3,236,942$2,735,696$4,196,915
83$6,065,550$3,323,480$2,755,271$4,424,855
84$6,609,894$3,411,989$2,773,231$4,671,049
85$7,207,420$3,502,494$2,789,451$4,937,249
86$7,863,478$3,595,017$2,803,799$5,225,390
87$8,583,963$3,689,582$2,816,136$5,537,598
88$9,375,366$3,786,211$2,826,316$5,876,216
89$10,244,842$3,884,924$2,834,186$6,243,828
90$11,200,270$3,985,739$2,839,585$6,643,275
91$12,250,331$4,088,674$2,842,344$7,077,691
92$13,404,588$4,193,742$2,842,286$7,550,526
93$14,673,578$4,300,958$2,839,225$8,065,581
94$16,068,910$4,410,332$2,832,966$8,627,047
95$17,603,372$4,521,871$2,823,304$9,239,538
96$19,291,056$4,635,583$2,810,024$9,908,138
97$21,147,486$4,751,468$2,792,902$10,638,452
98$23,189,766$4,869,527$2,771,701$11,436,653
99$25,436,745$4,989,757$2,746,175$12,309,544
100$27,909,186$5,112,148$2,716,066$13,264,623