Can I retire at age 73 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$244,434$242,257$240,132$238,059$236,035$229,491
2 years$121,007$118,753$116,569$114,451$112,397$105,854
3 years$79,870$77,607$75,428$73,330$71,310$64,971
4 years$59,306$57,049$54,892$52,830$50,859$44,773
5 years$46,970$44,727$42,599$40,579$38,662$32,847
6 years$38,749$36,523$34,426$32,451$30,592$25,052
7 years$32,879$30,672$28,608$26,680$24,879$19,615
8 years$28,479$26,292$24,262$22,381$20,640$15,649
9 years$25,058$22,892$20,897$19,064$17,382$12,659
10 years$22,323$20,178$18,218$16,433$14,810$10,349
11 years$20,087$17,963$16,039$14,302$12,737$8,531
12 years$18,225$16,123$14,234$12,545$11,038$7,079
13 years$16,650$14,570$12,717$11,075$9,625$5,905
14 years$15,302$13,244$11,427$9,831$8,437$4,947
15 years$14,135$12,099$10,317$8,768$7,429$4,158
16 years$13,114$11,100$9,354$7,850$6,566$3,506
17 years$12,214$10,223$8,511$7,054$5,822$2,963
18 years$11,416$9,446$7,770$6,357$5,176$2,509
19 years$10,702$8,755$7,113$5,744$4,614$2,128
20 years$10,060$8,135$6,528$5,202$4,121$1,808
21 years$9,480$7,578$6,004$4,721$3,688$1,537
22 years$8,954$7,074$5,534$4,293$3,306$1,309
23 years$8,474$6,616$5,110$3,909$2,967$1,115
24 years$8,035$6,199$4,726$3,566$2,667$951
25 years$7,631$5,817$4,377$3,256$2,400$811
26 years$7,260$5,467$4,059$2,977$2,162$692
27 years$6,916$5,145$3,769$2,725$1,949$591
28 years$6,597$4,848$3,504$2,497$1,759$505
29 years$6,301$4,574$3,261$2,290$1,588$432
30 years$6,025$4,319$3,037$2,101$1,435$369
31 years$5,768$4,083$2,832$1,930$1,297$315
32 years$5,527$3,864$2,642$1,774$1,173$270
33 years$5,301$3,659$2,467$1,631$1,062$231
34 years$5,089$3,468$2,305$1,501$962$197
35 years$4,889$3,289$2,155$1,382$871$169
36 years$4,701$3,122$2,016$1,272$789$144
37 years$4,524$2,965$1,887$1,172$715$124
38 years$4,356$2,818$1,767$1,081$648$106
39 years$4,197$2,680$1,655$996$588$91
40 years$4,047$2,549$1,552$919$533$77
41 years$3,904$2,427$1,455$848$484$66
42 years$3,769$2,311$1,365$782$439$57
43 years$3,640$2,202$1,281$722$398$49
44 years$3,517$2,099$1,202$667$362$42
45 years$3,400$2,002$1,129$616$328$36
46 years$3,288$1,909$1,060$569$298$30
47 years$3,182$1,822$996$526$271$26
48 years$3,080$1,740$936$486$246$22
49 years$2,983$1,661$880$449$223$19
50 years$2,890$1,587$827$415$203$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $2,960,000, adding $2,046 every year, while hoping to spend $57,867 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: 46/34/20 Blend
72$2,960,000$2,960,000$2,960,000$2,960,000
73$3,264,030$3,107,150$3,061,270$3,395,415
74$3,535,392$3,197,831$3,102,253$3,578,262
75$3,832,492$3,291,015$3,142,669$3,770,593
76$4,157,896$3,386,765$3,182,438$3,978,058
77$4,514,428$3,485,143$3,221,476$4,202,093
78$4,905,197$3,586,212$3,259,694$4,444,278
79$5,333,630$3,690,039$3,296,996$4,706,355
80$5,803,497$3,796,688$3,333,282$4,990,237
81$6,318,955$3,906,227$3,368,449$5,298,035
82$6,884,580$4,018,724$3,402,383$5,632,068
83$7,505,414$4,134,247$3,434,969$5,994,893
84$8,187,008$4,252,868$3,466,083$6,389,326
85$8,935,480$4,374,656$3,495,594$6,818,464
86$9,757,568$4,499,683$3,523,366$7,285,721
87$10,660,696$4,628,023$3,549,254$7,794,857
88$11,653,040$4,759,749$3,573,107$8,350,012
89$12,743,609$4,894,936$3,594,765$8,955,746
90$13,942,327$5,033,658$3,614,060$9,617,083
91$15,260,130$5,175,993$3,630,816$10,339,556
92$16,709,062$5,322,016$3,644,848$11,129,260
93$18,302,397$5,471,804$3,655,960$11,992,912
94$20,054,755$5,625,436$3,663,948$12,937,908
95$21,982,247$5,782,990$3,668,598$13,972,400
96$24,102,623$5,944,543$3,669,683$15,105,367
97$26,435,441$6,110,176$3,666,967$16,346,702
98$29,002,248$6,279,967$3,660,203$17,707,306
99$31,826,787$6,453,995$3,649,129$19,199,188
100$34,935,218$6,632,339$3,633,474$20,835,581