Can I retire at age 73 with 688,000?

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 $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$56,814$56,308$55,815$55,333$54,862$53,998
2 years$28,126$27,602$27,094$26,602$26,125$25,256
3 years$18,564$18,038$17,532$17,044$16,575$15,729
4 years$13,785$13,260$12,759$12,279$11,821$11,005
5 years$10,917$10,396$9,901$9,432$8,986$8,201
6 years$9,007$8,489$8,002$7,543$7,111$6,358
7 years$7,642$7,129$6,649$6,201$5,783$5,063
8 years$6,619$6,111$5,639$5,202$4,797$4,111
9 years$5,824$5,321$4,857$4,431$4,040$3,386
10 years$5,189$4,690$4,235$3,820$3,442$2,820
11 years$4,669$4,175$3,728$3,324$2,961$2,369
12 years$4,236$3,747$3,309$2,916$2,566$2,005
13 years$3,870$3,387$2,956$2,574$2,237$1,706
14 years$3,557$3,078$2,656$2,285$1,961$1,458
15 years$3,285$2,812$2,398$2,038$1,727$1,252
16 years$3,048$2,580$2,174$1,825$1,526$1,078
17 years$2,839$2,376$1,978$1,639$1,353$931
18 years$2,653$2,196$1,806$1,477$1,203$806
19 years$2,487$2,035$1,653$1,335$1,072$699
20 years$2,338$1,891$1,517$1,209$958$607
21 years$2,204$1,761$1,396$1,097$857$528
22 years$2,081$1,644$1,286$998$768$460
23 years$1,970$1,538$1,188$909$690$402
24 years$1,868$1,441$1,098$829$620$351
25 years$1,774$1,352$1,017$757$558$306
26 years$1,687$1,271$944$692$502$268
27 years$1,607$1,196$876$633$453$234
28 years$1,533$1,127$814$580$409$205
29 years$1,465$1,063$758$532$369$180
30 years$1,400$1,004$706$488$334$157
31 years$1,341$949$658$449$302$138
32 years$1,285$898$614$412$273$121
33 years$1,232$850$573$379$247$106
34 years$1,183$806$536$349$223$93
35 years$1,136$765$501$321$202$82
36 years$1,093$726$469$296$183$72
37 years$1,051$689$439$272$166$63
38 years$1,012$655$411$251$151$55
39 years$976$623$385$232$137$48
40 years$941$593$361$214$124$43
41 years$907$564$338$197$112$37
42 years$876$537$317$182$102$33
43 years$846$512$298$168$93$29
44 years$817$488$279$155$84$25
45 years$790$465$262$143$76$22
46 years$764$444$246$132$69$20
47 years$740$424$232$122$63$17
48 years$716$404$218$113$57$15
49 years$693$386$204$104$52$13
50 years$672$369$192$96$47$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $688,000, adding $6,164 every year, while hoping to spend $20,005 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: 61/24/15 Blend
72$688,000$688,000$688,000$688,000
73$764,534$728,070$717,406$807,948
74$821,231$742,460$720,154$852,294
75$883,041$756,885$722,324$897,864
76$950,464$771,325$723,874$947,118
77$1,024,051$785,760$724,763$1,000,413
78$1,104,408$800,166$724,946$1,058,143
79$1,192,202$814,518$724,377$1,120,745
80$1,288,168$828,791$723,005$1,188,698
81$1,393,115$842,956$720,779$1,262,531
82$1,507,934$856,981$717,646$1,342,825
83$1,633,604$870,835$713,549$1,430,224
84$1,771,207$884,481$708,428$1,525,435
85$1,921,931$897,882$702,221$1,629,239
86$2,087,086$910,996$694,864$1,742,494
87$2,268,114$923,779$686,286$1,866,151
88$2,466,603$936,186$676,419$2,001,252
89$2,684,303$948,166$665,185$2,148,951
90$2,923,141$959,665$652,508$2,310,516
91$3,185,239$970,626$638,305$2,487,349
92$3,472,935$980,989$622,489$2,680,991
93$3,788,805$990,687$604,973$2,893,143
94$4,135,684$999,652$585,661$3,125,681
95$4,516,699$1,007,809$564,455$3,380,671
96$4,935,290$1,015,081$541,253$3,660,392
97$5,395,252$1,021,382$515,947$3,967,356
98$5,900,761$1,026,623$488,425$4,304,330
99$6,456,421$1,030,710$458,569$4,674,368
100$7,067,303$1,033,541$426,258$5,080,834