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%11.2%
1 years$199,841$198,061$196,325$194,629$192,974$192,000
2 years$98,931$97,089$95,303$93,572$91,892$90,909
3 years$65,299$63,449$61,667$59,952$58,300$57,338
4 years$48,486$46,641$44,878$43,192$41,580$40,647
5 years$38,401$36,567$34,827$33,176$31,609$30,707
6 years$31,680$29,860$28,146$26,531$25,011$24,142
7 years$26,881$25,076$23,389$21,813$20,341$19,505
8 years$23,283$21,495$19,836$18,298$16,874$16,072
9 years$20,487$18,715$17,085$15,586$14,211$13,441
10 years$18,251$16,497$14,895$13,435$12,108$11,372
11 years$16,423$14,686$13,113$11,693$10,413$9,709
12 years$14,900$13,181$11,638$10,256$9,024$8,352
13 years$13,613$11,912$10,397$9,055$7,869$7,228
14 years$12,510$10,828$9,342$8,038$6,898$6,287
15 years$11,556$9,891$8,435$7,168$6,074$5,492
16 years$10,722$9,075$7,647$6,418$5,368$4,815
17 years$9,986$8,358$6,959$5,767$4,760$4,234
18 years$9,333$7,723$6,352$5,197$4,232$3,734
19 years$8,749$7,158$5,815$4,696$3,772$3,300
20 years$8,225$6,651$5,337$4,253$3,369$2,923
21 years$7,751$6,195$4,909$3,860$3,015$2,593
22 years$7,320$5,783$4,524$3,510$2,703$2,304
23 years$6,928$5,409$4,177$3,196$2,426$2,049
24 years$6,569$5,068$3,863$2,915$2,181$1,826
25 years$6,239$4,756$3,578$2,662$1,962$1,628
26 years$5,935$4,470$3,319$2,434$1,767$1,453
27 years$5,654$4,207$3,082$2,228$1,594$1,298
28 years$5,394$3,964$2,865$2,041$1,438$1,160
29 years$5,152$3,739$2,666$1,872$1,298$1,037
30 years$4,926$3,531$2,483$1,718$1,173$928
31 years$4,716$3,338$2,315$1,578$1,061$831
32 years$4,519$3,159$2,160$1,450$959$745
33 years$4,334$2,991$2,017$1,334$868$667
34 years$4,160$2,835$1,884$1,227$786$598
35 years$3,997$2,689$1,762$1,129$712$536
36 years$3,844$2,552$1,648$1,040$645$481
37 years$3,698$2,424$1,543$958$585$432
38 years$3,561$2,304$1,445$883$530$388
39 years$3,432$2,191$1,353$815$481$348
40 years$3,309$2,084$1,269$751$436$312
41 years$3,192$1,984$1,190$693$396$280
42 years$3,081$1,890$1,116$640$359$252
43 years$2,976$1,800$1,047$591$326$226
44 years$2,875$1,716$983$545$296$203
45 years$2,780$1,636$923$504$268$183
46 years$2,689$1,561$867$465$244$164
47 years$2,602$1,490$814$430$221$147
48 years$2,518$1,422$765$397$201$132
49 years$2,439$1,358$719$367$183$119
50 years$2,363$1,297$676$339$166$107

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 $5,192 every year, while hoping to spend $55,594 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: 22/49/29 Blend
72$2,420,000$2,420,000$2,420,000$2,420,000
73$2,672,196$2,543,936$2,506,426$2,706,368
74$2,885,608$2,609,437$2,531,239$2,802,836
75$3,118,925$2,676,284$2,555,021$2,900,994
76$3,374,119$2,744,485$2,577,677$3,004,818
77$3,653,359$2,814,046$2,599,110$3,114,807
78$3,959,038$2,884,970$2,619,216$3,231,512
79$4,293,786$2,957,260$2,637,886$3,355,540
80$4,660,503$3,030,916$2,655,006$3,487,560
81$5,062,380$3,105,937$2,670,455$3,628,309
82$5,502,934$3,182,319$2,684,106$3,778,600
83$5,986,036$3,260,056$2,695,827$3,939,327
84$6,515,952$3,339,138$2,705,477$4,111,480
85$7,097,378$3,419,555$2,712,909$4,296,146
86$7,735,489$3,501,292$2,717,970$4,494,527
87$8,435,984$3,584,330$2,720,497$4,707,947
88$9,205,140$3,668,648$2,720,320$4,937,865
89$10,049,874$3,754,222$2,717,261$5,185,893
90$10,977,805$3,841,022$2,711,132$5,453,806
91$11,997,323$3,929,015$2,701,737$5,743,564
92$13,117,676$4,018,162$2,688,871$6,057,326
93$14,349,048$4,108,422$2,672,318$6,397,476
94$15,702,662$4,199,745$2,651,851$6,766,641
95$17,190,879$4,292,078$2,627,234$7,167,721
96$18,827,321$4,385,362$2,598,218$7,603,913
97$20,626,993$4,479,530$2,564,544$8,078,744
98$22,606,430$4,574,511$2,525,940$8,596,103
99$24,783,847$4,670,223$2,482,120$9,160,279
100$27,179,314$4,766,579$2,432,786$9,776,005