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

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$246,086$243,894$241,755$239,668$237,629$235,835
2 years$121,825$119,556$117,357$115,225$113,157$111,348
3 years$80,410$78,131$75,938$73,826$71,791$70,024
4 years$59,706$57,435$55,263$53,187$51,202$49,490
5 years$47,287$45,029$42,886$40,853$38,923$37,271
6 years$39,011$36,770$34,659$32,670$30,799$29,208
7 years$33,101$30,879$28,801$26,860$25,047$23,520
8 years$28,671$26,469$24,426$22,532$20,779$19,315
9 years$25,228$23,046$21,038$19,193$17,499$16,097
10 years$22,474$20,314$18,341$16,544$14,910$13,569
11 years$20,223$18,084$16,148$14,398$12,823$11,543
12 years$18,348$16,232$14,331$12,629$11,112$9,892
13 years$16,763$14,669$12,803$11,150$9,690$8,528
14 years$15,405$13,333$11,504$9,898$8,494$7,389
15 years$14,230$12,180$10,386$8,827$7,479$6,429
16 years$13,203$11,175$9,417$7,903$6,610$5,613
17 years$12,297$10,292$8,569$7,101$5,861$4,916
18 years$11,493$9,510$7,822$6,400$5,211$4,317
19 years$10,774$8,814$7,161$5,783$4,645$3,799
20 years$10,128$8,190$6,572$5,237$4,149$3,350
21 years$9,544$7,629$6,045$4,753$3,713$2,959
22 years$9,014$7,121$5,571$4,322$3,328$2,617
23 years$8,531$6,661$5,144$3,936$2,987$2,318
24 years$8,089$6,240$4,757$3,590$2,685$2,055
25 years$7,683$5,856$4,406$3,278$2,416$1,824
26 years$7,309$5,504$4,087$2,998$2,176$1,620
27 years$6,963$5,180$3,795$2,744$1,962$1,440
28 years$6,642$4,881$3,528$2,514$1,771$1,281
29 years$6,344$4,605$3,283$2,305$1,599$1,141
30 years$6,066$4,349$3,058$2,116$1,445$1,016
31 years$5,807$4,111$2,851$1,943$1,306$905
32 years$5,564$3,890$2,660$1,786$1,181$807
33 years$5,337$3,684$2,484$1,642$1,069$719
34 years$5,123$3,491$2,320$1,511$968$642
35 years$4,922$3,311$2,169$1,391$877$573
36 years$4,733$3,143$2,029$1,281$794$511
37 years$4,554$2,985$1,900$1,180$720$456
38 years$4,385$2,837$1,779$1,088$653$407
39 years$4,226$2,698$1,667$1,003$592$364
40 years$4,074$2,567$1,562$925$537$325
41 years$3,930$2,443$1,465$854$487$290
42 years$3,794$2,327$1,374$788$442$259
43 years$3,664$2,217$1,289$727$401$232
44 years$3,541$2,113$1,210$671$364$207
45 years$3,423$2,015$1,136$620$331$185
46 years$3,311$1,922$1,067$573$300$165
47 years$3,204$1,835$1,003$529$273$148
48 years$3,101$1,751$942$489$247$132
49 years$3,003$1,672$886$452$225$118
50 years$2,910$1,598$833$418$204$106

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 $2,824 every year, while hoping to spend $45,164 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: 44/34/22 Blend
72$2,980,000$2,980,000$2,980,000$2,980,000
73$3,286,873$3,128,933$3,082,743$3,410,427
74$3,574,080$3,234,197$3,137,961$3,603,298
75$3,889,068$3,343,104$3,193,515$3,807,608
76$4,234,624$3,455,787$3,249,368$4,028,158
77$4,613,816$3,572,381$3,305,482$4,266,474
78$5,030,024$3,693,026$3,361,815$4,524,237
79$5,486,971$3,817,870$3,418,321$4,803,295
80$5,988,760$3,947,063$3,474,952$5,105,678
81$6,539,908$4,080,764$3,531,657$5,433,623
82$7,145,392$4,219,135$3,588,381$5,789,589
83$7,810,696$4,362,346$3,645,066$6,176,281
84$8,541,859$4,510,574$3,701,648$6,596,677
85$9,345,538$4,664,000$3,758,062$7,054,055
86$10,229,062$4,822,815$3,814,236$7,552,020
87$11,200,509$4,987,216$3,870,096$8,094,543
88$12,268,779$5,157,408$3,925,562$8,685,993
89$13,443,675$5,333,602$3,980,549$9,331,182
90$14,736,001$5,516,019$4,034,968$10,035,405
91$16,157,657$5,704,888$4,088,724$10,804,494
92$17,721,758$5,900,448$4,141,716$11,644,869
93$19,442,752$6,102,944$4,193,838$12,563,600
94$21,336,558$6,312,634$4,244,977$13,568,472
95$23,420,718$6,529,784$4,295,015$14,668,059
96$25,714,559$6,754,671$4,343,826$15,871,803
97$28,239,377$6,987,583$4,391,277$17,190,103
98$31,018,637$7,228,818$4,437,229$18,634,410
99$34,078,196$7,478,688$4,481,533$20,217,341
100$37,446,542$7,737,514$4,524,035$21,952,788