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

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$245,260$243,075$240,944$238,863$236,832$234,946
2 years$121,416$119,154$116,963$114,838$112,777$110,876
3 years$80,140$77,869$75,683$73,578$71,550$69,693
4 years$59,506$57,242$55,078$53,009$51,030$49,231
5 years$47,129$44,878$42,743$40,716$38,792$37,056
6 years$38,880$36,646$34,542$32,561$30,695$29,025
7 years$32,990$30,776$28,705$26,770$24,963$23,359
8 years$28,575$26,380$24,344$22,457$20,710$19,172
9 years$25,143$22,969$20,967$19,128$17,440$15,968
10 years$22,399$20,246$18,280$16,489$14,860$13,453
11 years$20,155$18,024$16,093$14,350$12,780$11,437
12 years$18,286$16,177$14,282$12,587$11,075$9,795
13 years$16,707$14,619$12,760$11,112$9,658$8,439
14 years$15,354$13,289$11,465$9,864$8,466$7,307
15 years$14,182$12,139$10,352$8,797$7,454$6,353
16 years$13,158$11,138$9,385$7,877$6,588$5,544
17 years$12,256$10,257$8,540$7,077$5,841$4,852
18 years$11,454$9,478$7,796$6,378$5,194$4,257
19 years$10,738$8,784$7,137$5,763$4,629$3,744
20 years$10,094$8,163$6,550$5,220$4,135$3,299
21 years$9,512$7,603$6,025$4,737$3,700$2,911
22 years$8,984$7,098$5,553$4,307$3,317$2,573
23 years$8,503$6,638$5,127$3,923$2,977$2,277
24 years$8,062$6,220$4,742$3,578$2,676$2,018
25 years$7,657$5,837$4,392$3,267$2,408$1,789
26 years$7,284$5,486$4,073$2,987$2,169$1,588
27 years$6,939$5,163$3,782$2,735$1,956$1,411
28 years$6,619$4,865$3,516$2,505$1,765$1,254
29 years$6,322$4,589$3,272$2,298$1,593$1,115
30 years$6,046$4,334$3,048$2,109$1,440$993
31 years$5,787$4,097$2,841$1,937$1,302$884
32 years$5,545$3,877$2,651$1,780$1,177$787
33 years$5,319$3,671$2,475$1,637$1,066$701
34 years$5,106$3,480$2,313$1,506$965$625
35 years$4,906$3,300$2,162$1,386$874$557
36 years$4,717$3,132$2,023$1,277$792$497
37 years$4,539$2,975$1,893$1,176$718$443
38 years$4,371$2,827$1,773$1,084$651$395
39 years$4,211$2,689$1,661$1,000$590$353
40 years$4,060$2,558$1,557$922$535$315
41 years$3,917$2,435$1,460$851$485$281
42 years$3,781$2,319$1,369$785$441$251
43 years$3,652$2,210$1,285$725$400$224
44 years$3,529$2,106$1,206$669$363$200
45 years$3,411$2,008$1,133$618$329$179
46 years$3,300$1,916$1,064$571$299$160
47 years$3,193$1,828$999$527$272$142
48 years$3,091$1,745$939$487$247$127
49 years$2,993$1,667$883$450$224$114
50 years$2,900$1,592$830$416$203$102

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 $4,487 every year, while hoping to spend $34,521 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: 67/11/22 Blend
72$2,970,000$2,970,000$2,970,000$2,970,000
73$3,277,568$3,120,158$3,074,123$3,478,583
74$3,575,150$3,236,316$3,140,376$3,730,121
75$3,901,928$3,357,008$3,207,692$4,000,721
76$4,260,845$3,482,421$3,276,069$4,295,838
77$4,655,139$3,612,748$3,345,506$4,617,888
78$5,088,382$3,748,192$3,415,999$4,969,528
79$5,564,506$3,888,962$3,487,544$5,353,686
80$6,087,843$4,035,279$3,560,134$5,773,585
81$6,663,167$4,187,372$3,633,763$6,232,774
82$7,295,737$4,345,479$3,708,420$6,735,161
83$7,991,346$4,509,852$3,784,096$7,285,050
84$8,756,378$4,680,749$3,860,778$7,887,182
85$9,597,865$4,858,442$3,938,450$8,546,778
86$10,523,556$5,043,215$4,017,098$9,269,588
87$11,541,989$5,235,363$4,096,701$10,061,946
88$12,662,571$5,435,194$4,177,239$10,930,827
89$13,895,666$5,643,032$4,258,690$11,883,917
90$15,252,695$5,859,211$4,341,026$12,929,681
91$16,746,240$6,084,082$4,424,221$14,077,443
92$18,390,166$6,318,012$4,508,242$15,337,475
93$20,199,751$6,561,383$4,593,056$16,721,095
94$22,191,828$6,814,593$4,678,626$18,240,768
95$24,384,945$7,078,059$4,764,911$19,910,229
96$26,799,541$7,352,215$4,851,867$21,744,608
97$29,458,137$7,637,517$4,939,447$23,760,575
98$32,385,548$7,934,436$5,027,600$25,976,496
99$35,609,120$8,243,470$5,116,271$28,412,606
100$39,158,984$8,565,133$5,205,399$31,091,199