Can I retire at age 73 with 602,000?

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 $602,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$49,713$49,270$48,838$48,416$48,004$46,920
2 years$24,610$24,152$23,708$23,277$22,859$21,773
3 years$16,244$15,784$15,340$14,914$14,503$13,448
4 years$12,061$11,603$11,164$10,745$10,344$9,328
5 years$9,553$9,097$8,664$8,253$7,863$6,890
6 years$7,881$7,428$7,002$6,600$6,222$5,293
7 years$6,687$6,238$5,818$5,426$5,060$4,175
8 years$5,792$5,347$4,934$4,552$4,198$3,356
9 years$5,096$4,656$4,250$3,877$3,535$2,736
10 years$4,540$4,104$3,705$3,342$3,012$2,255
11 years$4,085$3,653$3,262$2,909$2,590$1,874
12 years$3,707$3,279$2,895$2,551$2,245$1,569
13 years$3,386$2,963$2,586$2,252$1,958$1,320
14 years$3,112$2,694$2,324$1,999$1,716$1,116
15 years$2,875$2,461$2,098$1,783$1,511$946
16 years$2,667$2,258$1,902$1,597$1,335$805
17 years$2,484$2,079$1,731$1,435$1,184$687
18 years$2,322$1,921$1,580$1,293$1,053$587
19 years$2,177$1,781$1,447$1,168$938$503
20 years$2,046$1,655$1,328$1,058$838$432
21 years$1,928$1,541$1,221$960$750$371
22 years$1,821$1,439$1,125$873$672$319
23 years$1,723$1,346$1,039$795$604$274
24 years$1,634$1,261$961$725$542$236
25 years$1,552$1,183$890$662$488$204
26 years$1,476$1,112$826$606$440$176
27 years$1,407$1,046$767$554$396$152
28 years$1,342$986$713$508$358$131
29 years$1,282$930$663$466$323$113
30 years$1,225$878$618$427$292$98
31 years$1,173$830$576$393$264$84
32 years$1,124$786$537$361$239$73
33 years$1,078$744$502$332$216$63
34 years$1,035$705$469$305$196$55
35 years$994$669$438$281$177$47
36 years$956$635$410$259$160$41
37 years$920$603$384$238$145$35
38 years$886$573$359$220$132$31
39 years$854$545$337$203$120$26
40 years$823$518$316$187$108$23
41 years$794$494$296$172$98$20
42 years$766$470$278$159$89$17
43 years$740$448$260$147$81$15
44 years$715$427$244$136$74$13
45 years$691$407$230$125$67$11
46 years$669$388$216$116$61$10
47 years$647$371$203$107$55$8
48 years$626$354$190$99$50$7
49 years$607$338$179$91$45$6
50 years$588$323$168$84$41$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $602,000, adding $6,022 every year, while hoping to spend $24,465 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: 67/12/21 Blend
72$602,000$602,000$602,000$602,000
73$669,616$637,710$628,379$710,554
74$711,886$642,927$623,399$743,960
75$757,648$647,580$617,432$777,105
76$807,231$651,615$610,420$812,770
77$861,000$654,975$602,300$851,201
78$919,354$657,600$593,008$892,672
79$982,731$659,426$582,477$937,486
80$1,051,615$660,383$570,636$985,974
81$1,126,538$660,400$557,410$1,038,504
82$1,208,084$659,399$542,722$1,095,482
83$1,296,896$657,297$526,492$1,157,354
84$1,393,684$654,009$508,634$1,224,615
85$1,499,226$649,442$489,059$1,297,808
86$1,614,380$643,497$467,675$1,377,535
87$1,740,090$636,072$444,386$1,464,459
88$1,877,395$627,055$419,089$1,559,311
89$2,027,439$616,331$391,678$1,662,899
90$2,191,483$603,776$362,044$1,776,113
91$2,370,912$589,259$330,070$1,899,935
92$2,567,253$572,641$295,636$2,035,450
93$2,782,189$553,776$258,615$2,183,852
94$3,017,569$532,509$218,877$2,346,461
95$3,275,434$508,674$176,282$2,524,732
96$3,558,029$482,099$130,687$2,720,270
97$3,867,825$452,600$81,943$2,934,844
98$4,207,548$419,982$29,893$3,170,408
99$4,580,196$384,039$0$3,429,115
100$4,989,074$344,555$0$3,719,089