Can I retire at age 73 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$243,608$241,438$239,321$237,255$235,237$226,351
2 years$120,598$118,352$116,175$114,065$112,018$103,168
3 years$79,600$77,344$75,173$73,082$71,069$62,534
4 years$59,105$56,856$54,707$52,652$50,687$42,532
5 years$46,811$44,576$42,455$40,442$38,531$30,778
6 years$38,618$36,400$34,310$32,341$30,488$23,142
7 years$32,768$30,568$28,512$26,590$24,795$17,853
8 years$28,383$26,203$24,180$22,305$20,570$14,026
9 years$24,974$22,814$20,826$18,999$17,323$11,167
10 years$22,248$20,110$18,157$16,378$14,760$8,982
11 years$20,019$17,902$15,985$14,253$12,694$7,280
12 years$18,163$16,068$14,186$12,502$11,000$5,938
13 years$16,594$14,521$12,674$11,038$9,593$4,866
14 years$15,250$13,199$11,388$9,798$8,409$4,003
15 years$14,087$12,058$10,282$8,738$7,404$3,304
16 years$13,070$11,063$9,322$7,824$6,544$2,734
17 years$12,173$10,188$8,483$7,030$5,802$2,267
18 years$11,377$9,414$7,744$6,335$5,159$1,883
19 years$10,666$8,725$7,089$5,724$4,598$1,566
20 years$10,026$8,108$6,506$5,185$4,107$1,304
21 years$9,448$7,552$5,984$4,705$3,675$1,087
22 years$8,924$7,050$5,515$4,278$3,295$906
23 years$8,445$6,593$5,092$3,896$2,957$757
24 years$8,008$6,178$4,710$3,554$2,658$632
25 years$7,606$5,797$4,362$3,245$2,392$528
26 years$7,235$5,449$4,046$2,967$2,155$441
27 years$6,892$5,128$3,757$2,716$1,943$369
28 years$6,575$4,832$3,492$2,489$1,753$309
29 years$6,280$4,558$3,250$2,282$1,583$258
30 years$6,005$4,305$3,027$2,094$1,430$216
31 years$5,748$4,070$2,822$1,923$1,293$181
32 years$5,508$3,851$2,633$1,768$1,170$151
33 years$5,283$3,647$2,459$1,626$1,058$127
34 years$5,072$3,456$2,297$1,496$958$106
35 years$4,873$3,278$2,148$1,377$868$89
36 years$4,685$3,111$2,009$1,268$786$74
37 years$4,508$2,955$1,880$1,168$713$62
38 years$4,341$2,808$1,761$1,077$646$52
39 years$4,183$2,671$1,650$993$586$44
40 years$4,033$2,541$1,546$916$531$37
41 years$3,891$2,419$1,450$845$482$31
42 years$3,756$2,303$1,360$780$438$26
43 years$3,627$2,195$1,276$720$397$21
44 years$3,505$2,092$1,198$665$360$18
45 years$3,388$1,995$1,125$614$327$15
46 years$3,277$1,903$1,057$567$297$13
47 years$3,171$1,816$993$524$270$11
48 years$3,070$1,734$933$484$245$9
49 years$2,973$1,656$877$447$223$7
50 years$2,880$1,581$824$414$202$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $2,950,000, adding $5,115 every year, while hoping to spend $42,429 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: 75/11/14 Blend
72$2,950,000$2,950,000$2,950,000$2,950,000
73$3,256,176$3,099,826$3,054,101$3,490,360
74$3,543,162$3,206,573$3,111,269$3,752,508
75$3,857,998$3,317,129$3,168,931$4,033,943
76$4,203,481$3,431,636$3,227,057$4,341,235
77$4,582,690$3,550,240$3,285,617$4,676,941
78$4,999,018$3,673,095$3,344,579$5,043,879
79$5,456,201$3,800,360$3,403,906$5,445,149
80$5,958,356$3,932,200$3,463,559$5,884,168
81$6,510,019$4,068,788$3,523,498$6,364,699
82$7,116,184$4,210,302$3,583,679$6,890,884
83$7,782,355$4,356,927$3,644,052$7,467,287
84$8,514,596$4,508,857$3,704,569$8,098,934
85$9,319,586$4,666,293$3,765,174$8,791,362
86$10,204,686$4,829,443$3,825,808$9,550,669
87$11,178,002$4,998,524$3,886,411$10,383,572
88$12,248,468$5,173,761$3,946,916$11,297,472
89$13,425,926$5,355,390$4,007,252$12,300,520
90$14,721,221$5,543,655$4,067,346$13,401,696
91$16,146,300$5,738,809$4,127,116$14,610,893
92$17,714,328$5,941,116$4,186,480$15,939,010
93$19,439,810$6,150,850$4,245,347$17,398,055
94$21,338,727$6,368,299$4,303,623$19,001,255
95$23,428,690$6,593,758$4,361,207$20,763,186
96$25,729,101$6,827,537$4,417,993$22,699,904
97$28,261,341$7,069,958$4,473,867$24,829,101
98$31,048,968$7,321,356$4,528,711$27,170,270
99$34,117,939$7,582,078$4,582,399$29,744,886
100$37,496,857$7,852,488$4,634,798$32,576,614