Can I retire at age 73 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$246,911$244,712$242,566$240,472$238,427$231,072
2 years$122,233$119,957$117,751$115,611$113,537$106,191
3 years$80,679$78,393$76,192$74,073$72,032$64,927
4 years$59,907$57,627$55,449$53,366$51,374$44,562
5 years$47,446$45,180$43,030$40,990$39,054$32,555
6 years$39,142$36,893$34,775$32,780$30,902$24,721
7 years$33,213$30,983$28,898$26,950$25,131$19,268
8 years$28,768$26,558$24,508$22,608$20,849$15,300
9 years$25,312$23,124$21,109$19,257$17,558$12,317
10 years$22,550$20,382$18,403$16,600$14,960$10,019
11 years$20,291$18,145$16,202$14,447$12,866$8,217
12 years$18,410$16,286$14,379$12,672$11,150$6,782
13 years$16,819$14,718$12,846$11,187$9,723$5,627
14 years$15,457$13,378$11,542$9,931$8,523$4,687
15 years$14,278$12,221$10,421$8,856$7,504$3,918
16 years$13,247$11,213$9,448$7,930$6,632$3,285
17 years$12,338$10,326$8,598$7,125$5,881$2,760
18 years$11,531$9,542$7,849$6,421$5,229$2,323
19 years$10,810$8,844$7,185$5,802$4,660$1,959
20 years$10,162$8,218$6,594$5,255$4,163$1,654
21 years$9,576$7,655$6,065$4,769$3,725$1,398
22 years$9,045$7,145$5,590$4,336$3,339$1,182
23 years$8,560$6,683$5,161$3,949$2,997$1,001
24 years$8,116$6,261$4,773$3,602$2,694$848
25 years$7,709$5,876$4,421$3,289$2,424$719
26 years$7,333$5,523$4,100$3,008$2,184$610
27 years$6,986$5,197$3,808$2,753$1,969$517
28 years$6,664$4,897$3,540$2,522$1,777$439
29 years$6,365$4,620$3,294$2,313$1,604$373
30 years$6,086$4,363$3,068$2,123$1,449$317
31 years$5,826$4,125$2,860$1,950$1,310$269
32 years$5,583$3,903$2,669$1,792$1,185$228
33 years$5,355$3,696$2,492$1,648$1,073$194
34 years$5,140$3,503$2,328$1,516$971$165
35 years$4,939$3,323$2,177$1,396$880$140
36 years$4,749$3,154$2,036$1,285$797$119
37 years$4,570$2,995$1,906$1,184$722$101
38 years$4,400$2,846$1,785$1,091$655$86
39 years$4,240$2,707$1,672$1,006$594$73
40 years$4,088$2,575$1,567$928$539$62
41 years$3,944$2,451$1,470$856$489$53
42 years$3,807$2,335$1,379$790$443$45
43 years$3,676$2,224$1,294$730$402$38
44 years$3,553$2,120$1,214$674$365$32
45 years$3,434$2,022$1,140$622$332$28
46 years$3,322$1,929$1,071$575$301$23
47 years$3,214$1,841$1,006$531$273$20
48 years$3,112$1,757$945$491$248$17
49 years$3,013$1,678$889$453$226$14
50 years$2,919$1,603$835$419$205$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $2,990,000, adding $2,118 every year, while hoping to spend $33,126 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: 72/10/18 Blend
72$2,990,000$2,990,000$2,990,000$2,990,000
73$3,297,165$3,138,695$3,092,350$3,520,437
74$3,598,230$3,257,245$3,160,698$3,787,623
75$3,928,893$3,380,494$3,230,225$4,075,941
76$4,292,139$3,508,637$3,300,936$4,390,848
77$4,691,255$3,641,877$3,372,835$4,734,974
78$5,129,861$3,780,428$3,445,924$5,111,216
79$5,611,949$3,924,511$3,520,204$5,522,762
80$6,141,914$4,074,358$3,595,677$5,973,126
81$6,724,597$4,230,210$3,672,340$6,466,174
82$7,365,335$4,392,319$3,750,193$7,006,165
83$8,070,005$4,560,949$3,829,230$7,597,791
84$8,845,084$4,736,373$3,909,447$8,246,218
85$9,697,707$4,918,880$3,990,838$8,957,137
86$10,635,735$5,108,768$4,073,394$9,736,816
87$11,667,832$5,306,349$4,157,104$10,592,157
88$12,803,541$5,511,950$4,241,958$11,530,767
89$14,053,379$5,725,912$4,327,940$12,561,023
90$15,428,932$5,948,591$4,415,034$13,692,152
91$16,942,968$6,180,356$4,503,223$14,934,321
92$18,609,555$6,421,598$4,592,484$16,298,727
93$20,444,193$6,672,720$4,682,796$17,797,710
94$22,463,963$6,934,145$4,774,132$19,444,859
95$24,687,685$7,206,316$4,866,463$21,255,151
96$27,136,097$7,489,693$4,959,758$23,245,080
97$29,832,050$7,784,760$5,053,981$25,432,824
98$32,800,725$8,092,019$5,149,096$27,838,406
99$36,069,868$8,411,997$5,245,059$30,483,890
100$39,670,053$8,745,243$5,341,827$33,393,583