Can I retire at age 73 with 2,940,000?

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$242,782$240,620$238,510$236,451$234,440$226,392
2 years$120,189$117,951$115,782$113,678$111,638$103,612
3 years$79,330$77,082$74,918$72,835$70,828$63,075
4 years$58,905$56,664$54,521$52,473$50,515$43,096
5 years$46,653$44,425$42,311$40,305$38,401$31,334
6 years$38,487$36,276$34,193$32,232$30,385$23,677
7 years$32,657$30,465$28,415$26,500$24,711$18,360
8 years$28,287$26,114$24,098$22,230$20,500$14,501
9 years$24,889$22,737$20,756$18,935$17,264$11,610
10 years$22,172$20,041$18,095$16,322$14,710$9,391
11 years$19,951$17,842$15,931$14,205$12,651$7,657
12 years$18,102$16,014$14,138$12,460$10,963$6,282
13 years$16,538$14,472$12,632$11,000$9,560$5,180
14 years$15,199$13,154$11,349$9,765$8,380$4,289
15 years$14,039$12,017$10,247$8,708$7,379$3,562
16 years$13,025$11,025$9,290$7,797$6,521$2,967
17 years$12,132$10,154$8,454$7,006$5,782$2,476
18 years$11,338$9,383$7,717$6,314$5,141$2,070
19 years$10,629$8,696$7,065$5,705$4,583$1,734
20 years$9,992$8,080$6,484$5,167$4,093$1,454
21 years$9,416$7,527$5,964$4,689$3,663$1,220
22 years$8,893$7,026$5,497$4,264$3,283$1,025
23 years$8,417$6,571$5,075$3,883$2,947$862
24 years$7,981$6,157$4,694$3,542$2,649$725
25 years$7,580$5,778$4,347$3,234$2,384$610
26 years$7,210$5,430$4,032$2,957$2,147$514
27 years$6,869$5,110$3,744$2,707$1,936$433
28 years$6,553$4,816$3,480$2,480$1,747$364
29 years$6,259$4,543$3,239$2,274$1,577$307
30 years$5,985$4,290$3,017$2,087$1,425$259
31 years$5,729$4,056$2,813$1,917$1,289$218
32 years$5,489$3,838$2,624$1,762$1,166$184
33 years$5,265$3,634$2,450$1,620$1,055$155
34 years$5,054$3,444$2,289$1,491$955$131
35 years$4,856$3,267$2,140$1,372$865$110
36 years$4,669$3,101$2,002$1,264$784$93
37 years$4,493$2,945$1,874$1,164$710$79
38 years$4,327$2,799$1,755$1,073$644$66
39 years$4,169$2,661$1,644$990$584$56
40 years$4,019$2,532$1,541$913$530$47
41 years$3,878$2,410$1,445$842$481$40
42 years$3,743$2,296$1,356$777$436$34
43 years$3,615$2,187$1,272$717$396$28
44 years$3,493$2,085$1,194$662$359$24
45 years$3,377$1,988$1,121$612$326$20
46 years$3,266$1,897$1,053$565$296$17
47 years$3,161$1,810$989$522$269$14
48 years$3,060$1,728$930$482$244$12
49 years$2,963$1,650$874$446$222$10
50 years$2,870$1,576$821$412$201$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $2,940,000, adding $4,860 every year, while hoping to spend $30,732 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: 90/5/5 Blend
72$2,940,000$2,940,000$2,940,000$2,940,000
73$3,244,893$3,089,073$3,043,503$3,537,099
74$3,543,174$3,207,739$3,112,762$3,846,354
75$3,870,849$3,331,190$3,183,311$4,181,562
76$4,230,884$3,459,627$3,255,161$4,549,196
77$4,626,547$3,593,262$3,328,321$4,952,510
78$5,061,438$3,732,314$3,402,803$5,395,085
79$5,539,521$3,877,014$3,478,613$5,880,866
80$6,065,166$4,027,601$3,555,761$6,414,201
81$6,643,186$4,184,327$3,634,252$6,999,877
82$7,278,884$4,347,452$3,714,092$7,643,167
83$7,978,104$4,517,251$3,795,288$8,349,881
84$8,747,282$4,694,008$3,877,841$9,126,419
85$9,593,512$4,878,021$3,961,756$9,979,833
86$10,524,608$5,069,602$4,047,033$10,917,888
87$11,549,182$5,269,077$4,133,673$11,949,144
88$12,676,721$5,476,784$4,221,673$13,083,026
89$13,917,679$5,693,079$4,311,032$14,329,923
90$15,283,574$5,918,332$4,401,744$15,701,278
91$16,787,099$6,152,931$4,493,802$17,209,698
92$18,442,239$6,397,280$4,587,200$18,869,075
93$20,264,403$6,651,802$4,681,927$20,694,714
94$22,270,570$6,916,938$4,777,970$22,703,479
95$24,479,452$7,193,152$4,875,315$24,913,949
96$26,911,663$7,480,924$4,973,946$27,346,597
97$29,589,923$7,780,759$5,073,843$30,023,978
98$32,539,263$8,093,184$5,174,985$32,970,949
99$35,787,268$8,418,750$5,277,346$36,214,893
100$39,364,332$8,758,032$5,380,901$39,785,987