Can I retire at age 73 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$241,131$238,983$236,887$234,842$232,845$231,864
2 years$119,372$117,149$114,994$112,905$110,879$109,888
3 years$78,791$76,558$74,409$72,339$70,346$69,377
4 years$58,504$56,278$54,150$52,116$50,171$49,231
5 years$46,335$44,123$42,023$40,030$38,139$37,230
6 years$38,225$36,030$33,961$32,013$30,178$29,302
7 years$32,435$30,258$28,222$26,319$24,543$23,700
8 years$28,094$25,936$23,934$22,079$20,361$19,551
9 years$24,720$22,582$20,614$18,806$17,147$16,370
10 years$22,022$19,905$17,972$16,211$14,610$13,866
11 years$19,816$17,720$15,822$14,108$12,565$11,853
12 years$17,979$15,905$14,042$12,375$10,889$10,208
13 years$16,425$14,373$12,546$10,925$9,495$8,846
14 years$15,095$13,065$11,272$9,698$8,323$7,704
15 years$13,944$11,935$10,177$8,649$7,329$6,739
16 years$12,937$10,950$9,227$7,744$6,477$5,916
17 years$12,049$10,085$8,396$6,958$5,743$5,210
18 years$11,261$9,319$7,665$6,271$5,106$4,601
19 years$10,557$8,637$7,017$5,666$4,551$4,072
20 years$9,924$8,025$6,440$5,132$4,065$3,611
21 years$9,352$7,475$5,923$4,657$3,638$3,209
22 years$8,833$6,978$5,459$4,235$3,261$2,855
23 years$8,360$6,526$5,041$3,857$2,927$2,544
24 years$7,926$6,115$4,662$3,517$2,631$2,269
25 years$7,528$5,738$4,318$3,212$2,368$2,027
26 years$7,161$5,393$4,004$2,937$2,133$1,811
27 years$6,822$5,076$3,718$2,688$1,923$1,621
28 years$6,508$4,783$3,457$2,463$1,735$1,451
29 years$6,216$4,512$3,217$2,259$1,567$1,300
30 years$5,944$4,261$2,996$2,073$1,416$1,165
31 years$5,690$4,028$2,793$1,904$1,280$1,045
32 years$5,452$3,811$2,606$1,750$1,158$937
33 years$5,229$3,609$2,434$1,609$1,048$842
34 years$5,020$3,421$2,274$1,480$949$756
35 years$4,823$3,245$2,126$1,363$859$679
36 years$4,638$3,080$1,989$1,255$778$610
37 years$4,463$2,925$1,861$1,156$706$548
38 years$4,297$2,780$1,743$1,066$640$493
39 years$4,140$2,643$1,633$983$580$443
40 years$3,992$2,515$1,531$907$526$399
41 years$3,851$2,394$1,435$836$477$358
42 years$3,718$2,280$1,346$772$433$322
43 years$3,590$2,172$1,263$713$393$290
44 years$3,469$2,071$1,186$658$357$261
45 years$3,354$1,975$1,113$608$324$235
46 years$3,244$1,884$1,046$561$294$212
47 years$3,139$1,798$983$519$267$190
48 years$3,039$1,716$923$479$243$171
49 years$2,943$1,639$868$443$220$154
50 years$2,851$1,565$816$409$200$139

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $2,920,000, adding $5,546 every year, while hoping to spend $28,319 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: 79/13/8 Blend
72$2,920,000$2,920,000$2,920,000$2,920,000
73$3,223,561$3,068,801$3,023,541$3,474,333
74$3,522,233$3,189,041$3,094,698$3,759,845
75$3,850,420$3,314,223$3,167,290$4,068,717
76$4,211,104$3,444,561$3,241,335$4,406,704
77$4,607,567$3,580,275$3,316,851$4,776,699
78$5,043,428$3,721,598$3,393,854$5,181,883
79$5,522,672$3,868,771$3,472,363$5,625,761
80$6,049,691$4,022,047$3,552,393$6,112,191
81$6,629,322$4,181,690$3,633,961$6,645,424
82$7,266,897$4,347,977$3,717,083$7,230,138
83$7,968,288$4,521,195$3,801,772$7,871,488
84$8,739,966$4,701,646$3,888,044$8,575,149
85$9,589,061$4,889,645$3,975,912$9,347,372
86$10,523,428$5,085,521$4,065,389$10,195,043
87$11,551,724$5,289,618$4,156,485$11,125,745
88$12,683,486$5,502,295$4,249,213$12,147,831
89$13,929,222$5,723,928$4,343,583$13,270,502
90$15,300,512$5,954,909$4,439,602$14,503,893
91$16,810,114$6,195,650$4,537,279$15,859,168
92$18,472,088$6,446,579$4,636,620$17,348,626
93$20,301,924$6,708,145$4,737,630$18,985,815
94$22,316,693$6,980,817$4,840,313$20,785,660
95$24,535,204$7,265,084$4,944,672$22,764,603
96$26,978,182$7,561,461$5,050,705$24,940,757
97$29,668,466$7,870,482$5,158,413$27,334,079
98$32,631,221$8,192,708$5,267,793$29,966,554
99$35,894,181$8,528,725$5,378,838$32,862,404
100$39,487,901$8,879,146$5,491,543$36,048,315