Can I retire at age 73 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$201,493$199,698$197,947$196,238$194,569$193,181
2 years$99,749$97,891$96,091$94,345$92,652$91,252
3 years$65,839$63,973$62,177$60,448$58,782$57,414
4 years$48,887$47,027$45,249$43,549$41,924$40,598
5 years$38,719$36,870$35,115$33,450$31,870$30,590
6 years$31,942$30,107$28,378$26,750$25,218$23,986
7 years$27,103$25,284$23,582$21,993$20,509$19,325
8 years$23,476$21,673$20,000$18,449$17,014$15,879
9 years$20,656$18,870$17,226$15,715$14,328$13,241
10 years$18,402$16,633$15,018$13,546$12,208$11,169
11 years$16,558$14,807$13,221$11,789$10,500$9,507
12 years$15,023$13,290$11,734$10,341$9,099$8,152
13 years$13,725$12,011$10,483$9,129$7,934$7,032
14 years$12,614$10,917$9,419$8,104$6,955$6,097
15 years$11,651$9,973$8,504$7,227$6,124$5,309
16 years$10,810$9,150$7,710$6,471$5,412$4,638
17 years$10,069$8,427$7,016$5,814$4,799$4,065
18 years$9,410$7,787$6,405$5,240$4,267$3,572
19 years$8,822$7,217$5,863$4,735$3,803$3,146
20 years$8,293$6,706$5,381$4,288$3,397$2,776
21 years$7,815$6,247$4,950$3,892$3,040$2,454
22 years$7,381$5,831$4,562$3,539$2,725$2,172
23 years$6,985$5,454$4,212$3,223$2,446$1,925
24 years$6,623$5,110$3,895$2,939$2,199$1,708
25 years$6,291$4,795$3,608$2,684$1,978$1,517
26 years$5,984$4,507$3,346$2,454$1,782$1,349
27 years$5,701$4,241$3,107$2,247$1,607$1,200
28 years$5,438$3,997$2,889$2,058$1,450$1,068
29 years$5,194$3,770$2,688$1,888$1,309$952
30 years$4,967$3,561$2,504$1,732$1,183$848
31 years$4,754$3,366$2,334$1,591$1,069$756
32 years$4,556$3,185$2,178$1,462$967$675
33 years$4,370$3,016$2,033$1,345$875$602
34 years$4,195$2,859$1,900$1,237$793$538
35 years$4,030$2,711$1,776$1,139$718$480
36 years$3,875$2,573$1,662$1,049$650$429
37 years$3,729$2,444$1,555$966$590$383
38 years$3,591$2,323$1,457$891$534$343
39 years$3,460$2,209$1,365$821$485$306
40 years$3,336$2,102$1,279$758$440$274
41 years$3,218$2,000$1,199$699$399$245
42 years$3,106$1,905$1,125$645$362$219
43 years$3,000$1,815$1,056$595$328$196
44 years$2,899$1,730$991$550$298$175
45 years$2,803$1,650$930$508$271$157
46 years$2,711$1,574$874$469$246$140
47 years$2,623$1,502$821$433$223$125
48 years$2,539$1,434$772$400$203$112
49 years$2,459$1,369$725$370$184$100
50 years$2,382$1,308$682$342$167$90

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $2,440,000, adding $2,956 every year, while hoping to spend $30,017 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: 77/9/14 Blend
72$2,440,000$2,440,000$2,440,000$2,440,000
73$2,691,929$2,562,609$2,524,789$2,891,190
74$2,934,568$2,656,239$2,577,432$3,116,602
75$3,200,950$2,753,451$2,630,832$3,359,630
76$3,493,465$2,854,388$2,684,983$3,625,296
77$3,814,747$2,959,201$2,739,878$3,915,848
78$4,167,695$3,068,046$2,795,508$4,233,761
79$4,555,504$3,181,085$2,851,862$4,581,758
80$4,981,696$3,298,488$2,908,929$4,962,843
81$5,450,147$3,420,433$2,966,697$5,380,320
82$5,965,131$3,547,102$3,025,150$5,837,830
83$6,531,353$3,678,689$3,084,271$6,339,383
84$7,154,000$3,815,394$3,144,043$6,889,395
85$7,838,785$3,957,425$3,204,446$7,492,732
86$8,592,003$4,105,001$3,265,457$8,154,752
87$9,420,590$4,258,349$3,327,052$8,881,358
88$10,332,187$4,417,705$3,389,205$9,679,055
89$11,335,214$4,583,316$3,451,887$10,555,004
90$12,438,947$4,755,440$3,515,067$11,517,098
91$13,653,609$4,934,346$3,578,711$12,574,031
92$14,990,463$5,120,314$3,642,783$13,735,382
93$16,461,916$5,313,636$3,707,243$15,011,702
94$18,081,645$5,514,617$3,772,049$16,414,616
95$19,864,715$5,723,576$3,837,155$17,956,935
96$21,827,729$5,940,844$3,902,512$19,652,769
97$23,988,980$6,166,768$3,968,069$21,517,666
98$26,368,625$6,401,709$4,033,768$23,568,757
99$28,988,877$6,646,044$4,099,551$25,824,916
100$31,874,209$6,900,168$4,165,353$28,306,940