Can I retire at age 73 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$246,086$243,894$241,755$239,668$237,629$232,357
2 years$121,825$119,556$117,357$115,225$113,157$107,872
3 years$80,410$78,131$75,938$73,826$71,791$66,660
4 years$59,706$57,435$55,263$53,187$51,202$46,263
5 years$47,287$45,029$42,886$40,853$38,923$34,190
6 years$39,011$36,770$34,659$32,670$30,799$26,277
7 years$33,101$30,879$28,801$26,860$25,047$20,738
8 years$28,671$26,469$24,426$22,532$20,779$16,681
9 years$25,228$23,046$21,038$19,193$17,499$13,608
10 years$22,474$20,314$18,341$16,544$14,910$11,223
11 years$20,223$18,084$16,148$14,398$12,823$9,334
12 years$18,348$16,232$14,331$12,629$11,112$7,816
13 years$16,763$14,669$12,803$11,150$9,690$6,582
14 years$15,405$13,333$11,504$9,898$8,494$5,567
15 years$14,230$12,180$10,386$8,827$7,479$4,726
16 years$13,203$11,175$9,417$7,903$6,610$4,024
17 years$12,297$10,292$8,569$7,101$5,861$3,436
18 years$11,493$9,510$7,822$6,400$5,211$2,939
19 years$10,774$8,814$7,161$5,783$4,645$2,520
20 years$10,128$8,190$6,572$5,237$4,149$2,163
21 years$9,544$7,629$6,045$4,753$3,713$1,859
22 years$9,014$7,121$5,571$4,322$3,328$1,600
23 years$8,531$6,661$5,144$3,936$2,987$1,378
24 years$8,089$6,240$4,757$3,590$2,685$1,188
25 years$7,683$5,856$4,406$3,278$2,416$1,025
26 years$7,309$5,504$4,087$2,998$2,176$885
27 years$6,963$5,180$3,795$2,744$1,962$764
28 years$6,642$4,881$3,528$2,514$1,771$660
29 years$6,344$4,605$3,283$2,305$1,599$571
30 years$6,066$4,349$3,058$2,116$1,445$494
31 years$5,807$4,111$2,851$1,943$1,306$427
32 years$5,564$3,890$2,660$1,786$1,181$369
33 years$5,337$3,684$2,484$1,642$1,069$320
34 years$5,123$3,491$2,320$1,511$968$277
35 years$4,922$3,311$2,169$1,391$877$240
36 years$4,733$3,143$2,029$1,281$794$207
37 years$4,554$2,985$1,900$1,180$720$180
38 years$4,385$2,837$1,779$1,088$653$156
39 years$4,226$2,698$1,667$1,003$592$135
40 years$4,074$2,567$1,562$925$537$117
41 years$3,930$2,443$1,465$854$487$101
42 years$3,794$2,327$1,374$788$442$88
43 years$3,664$2,217$1,289$727$401$76
44 years$3,541$2,113$1,210$671$364$66
45 years$3,423$2,015$1,136$620$331$57
46 years$3,311$1,922$1,067$573$300$49
47 years$3,204$1,835$1,003$529$273$43
48 years$3,101$1,751$942$489$247$37
49 years$3,003$1,672$886$452$225$32
50 years$2,910$1,598$833$418$204$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $2,980,000, adding $6,645 every year, while hoping to spend $48,146 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: 51/41/8 Blend
72$2,980,000$2,980,000$2,980,000$2,980,000
73$3,290,814$3,132,874$3,086,684$3,451,616
74$3,575,250$3,235,158$3,138,861$3,664,124
75$3,887,085$3,340,840$3,191,173$3,889,280
76$4,229,063$3,450,036$3,243,572$4,132,899
77$4,604,205$3,562,866$3,296,009$4,396,727
78$5,015,841$3,679,454$3,348,433$4,682,685
79$5,467,637$3,799,927$3,400,785$4,992,883
80$5,963,632$3,924,419$3,453,008$5,329,644
81$6,508,275$4,053,068$3,505,036$5,695,521
82$7,106,466$4,186,016$3,556,802$6,093,326
83$7,763,605$4,323,410$3,608,234$6,526,150
84$8,485,639$4,465,403$3,659,255$6,997,395
85$9,279,120$4,612,153$3,709,786$7,510,806
86$10,151,266$4,763,825$3,759,740$8,070,502
87$11,110,030$4,920,587$3,809,026$8,681,018
88$12,164,172$5,082,615$3,857,548$9,347,347
89$13,323,347$5,250,092$3,905,205$10,074,983
90$14,598,187$5,423,206$3,951,888$10,869,975
91$16,000,411$5,602,152$3,997,485$11,738,984
92$17,542,928$5,787,132$4,041,876$12,689,342
93$19,239,962$5,978,357$4,084,934$13,729,123
94$21,107,184$6,176,042$4,126,525$14,867,218
95$23,161,862$6,380,414$4,166,509$16,113,417
96$25,423,022$6,591,704$4,204,738$17,478,501
97$27,911,628$6,810,156$4,241,054$18,974,342
98$30,650,779$7,036,018$4,275,294$20,614,019
99$33,665,927$7,269,551$4,307,285$22,411,931
100$36,985,116$7,511,024$4,336,843$24,383,942