Can I retire at age 73 with 2,970,000?

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 $2,970,000?

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$245,260$243,075$240,944$238,863$236,832$228,702
2 years$121,416$119,154$116,963$114,838$112,777$104,669
3 years$80,140$77,869$75,683$73,578$71,550$63,719
4 years$59,506$57,242$55,078$53,009$51,030$43,535
5 years$47,129$44,878$42,743$40,716$38,792$31,654
6 years$38,880$36,646$34,542$32,561$30,695$23,919
7 years$32,990$30,776$28,705$26,770$24,963$18,547
8 years$28,575$26,380$24,344$22,457$20,710$14,649
9 years$25,143$22,969$20,967$19,128$17,440$11,728
10 years$22,399$20,246$18,280$16,489$14,860$9,487
11 years$20,155$18,024$16,093$14,350$12,780$7,735
12 years$18,286$16,177$14,282$12,587$11,075$6,346
13 years$16,707$14,619$12,760$11,112$9,658$5,233
14 years$15,354$13,289$11,465$9,864$8,466$4,332
15 years$14,182$12,139$10,352$8,797$7,454$3,598
16 years$13,158$11,138$9,385$7,877$6,588$2,997
17 years$12,256$10,257$8,540$7,077$5,841$2,501
18 years$11,454$9,478$7,796$6,378$5,194$2,092
19 years$10,738$8,784$7,137$5,763$4,629$1,751
20 years$10,094$8,163$6,550$5,220$4,135$1,469
21 years$9,512$7,603$6,025$4,737$3,700$1,233
22 years$8,984$7,098$5,553$4,307$3,317$1,035
23 years$8,503$6,638$5,127$3,923$2,977$870
24 years$8,062$6,220$4,742$3,578$2,676$732
25 years$7,657$5,837$4,392$3,267$2,408$616
26 years$7,284$5,486$4,073$2,987$2,169$519
27 years$6,939$5,163$3,782$2,735$1,956$437
28 years$6,619$4,865$3,516$2,505$1,765$368
29 years$6,322$4,589$3,272$2,298$1,593$310
30 years$6,046$4,334$3,048$2,109$1,440$262
31 years$5,787$4,097$2,841$1,937$1,302$221
32 years$5,545$3,877$2,651$1,780$1,177$186
33 years$5,319$3,671$2,475$1,637$1,066$157
34 years$5,106$3,480$2,313$1,506$965$132
35 years$4,906$3,300$2,162$1,386$874$112
36 years$4,717$3,132$2,023$1,277$792$94
37 years$4,539$2,975$1,893$1,176$718$79
38 years$4,371$2,827$1,773$1,084$651$67
39 years$4,211$2,689$1,661$1,000$590$56
40 years$4,060$2,558$1,557$922$535$48
41 years$3,917$2,435$1,460$851$485$40
42 years$3,781$2,319$1,369$785$441$34
43 years$3,652$2,210$1,285$725$400$29
44 years$3,529$2,106$1,206$669$363$24
45 years$3,411$2,008$1,133$618$329$20
46 years$3,300$1,916$1,064$571$299$17
47 years$3,193$1,828$999$527$272$15
48 years$3,091$1,745$939$487$247$12
49 years$2,993$1,667$883$450$224$10
50 years$2,900$1,592$830$416$203$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $2,970,000, adding $6,963 every year, while hoping to spend $23,771 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: 57/35/8 Blend
72$2,970,000$2,970,000$2,970,000$2,970,000
73$3,280,122$3,122,712$3,076,677$3,460,700
74$3,589,403$3,250,433$3,154,454$3,710,826
75$3,929,433$3,383,615$3,234,039$3,979,953
76$4,303,324$3,522,502$3,315,469$4,272,598
77$4,714,505$3,667,346$3,398,779$4,591,011
78$5,166,752$3,818,413$3,484,005$4,937,664
79$5,664,226$3,975,981$3,571,185$5,315,277
80$6,211,512$4,140,339$3,660,354$5,726,838
81$6,813,661$4,311,791$3,751,551$6,175,636
82$7,476,240$4,490,654$3,844,814$6,665,286
83$8,205,381$4,677,261$3,940,180$7,199,766
84$9,007,841$4,871,958$4,037,687$7,783,450
85$9,891,066$5,075,108$4,137,374$8,421,152
86$10,863,259$5,287,093$4,239,280$9,118,168
87$11,933,460$5,508,309$4,343,444$9,880,326
88$13,111,628$5,739,172$4,449,906$10,714,038
89$14,408,741$5,980,117$4,558,704$11,626,360
90$15,836,890$6,231,600$4,669,878$12,625,060
91$17,409,401$6,494,098$4,783,467$13,718,687
92$19,140,959$6,768,107$4,899,512$14,916,651
93$21,047,743$7,054,151$5,018,053$16,229,309
94$23,147,584$7,352,775$5,139,128$17,668,065
95$25,460,126$7,664,550$5,262,778$19,245,472
96$28,007,020$7,990,074$5,389,042$20,975,353
97$30,812,121$8,329,972$5,517,959$22,872,924
98$33,901,716$8,684,900$5,649,570$24,954,943
99$37,304,773$9,055,542$5,783,912$27,239,858
100$41,053,212$9,442,615$5,921,025$29,747,988