Can I retire at age 73 with 704,000?

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 $704,000?

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$58,136$57,618$57,113$56,619$56,138$54,892
2 years$28,780$28,244$27,725$27,221$26,732$25,484
3 years$18,996$18,458$17,940$17,441$16,960$15,748
4 years$14,105$13,568$13,055$12,565$12,096$10,929
5 years$11,171$10,638$10,132$9,651$9,195$8,077
6 years$9,216$8,687$8,188$7,718$7,276$6,208
7 years$7,820$7,295$6,804$6,345$5,917$4,899
8 years$6,773$6,253$5,770$5,323$4,909$3,941
9 years$5,960$5,444$4,970$4,534$4,134$3,215
10 years$5,309$4,799$4,333$3,908$3,522$2,651
11 years$4,777$4,272$3,815$3,401$3,029$2,205
12 years$4,335$3,835$3,385$2,984$2,625$1,847
13 years$3,960$3,465$3,025$2,634$2,289$1,555
14 years$3,639$3,150$2,718$2,338$2,007$1,315
15 years$3,362$2,877$2,454$2,085$1,767$1,116
16 years$3,119$2,640$2,225$1,867$1,562$951
17 years$2,905$2,431$2,024$1,678$1,385$812
18 years$2,715$2,247$1,848$1,512$1,231$694
19 years$2,545$2,082$1,692$1,366$1,097$595
20 years$2,393$1,935$1,553$1,237$980$511
21 years$2,255$1,802$1,428$1,123$877$439
22 years$2,130$1,682$1,316$1,021$786$378
23 years$2,015$1,573$1,215$930$706$326
24 years$1,911$1,474$1,124$848$634$281
25 years$1,815$1,384$1,041$774$571$242
26 years$1,727$1,300$965$708$514$209
27 years$1,645$1,224$897$648$464$181
28 years$1,569$1,153$833$594$418$156
29 years$1,499$1,088$776$545$378$135
30 years$1,433$1,027$722$500$341$117
31 years$1,372$971$673$459$309$101
32 years$1,314$919$628$422$279$87
33 years$1,261$870$587$388$253$76
34 years$1,210$825$548$357$229$65
35 years$1,163$782$513$329$207$57
36 years$1,118$743$479$303$188$49
37 years$1,076$705$449$279$170$42
38 years$1,036$670$420$257$154$37
39 years$998$637$394$237$140$32
40 years$962$606$369$219$127$28
41 years$929$577$346$202$115$24
42 years$896$550$325$186$104$21
43 years$866$524$305$172$95$18
44 years$836$499$286$159$86$16
45 years$809$476$268$146$78$13
46 years$782$454$252$135$71$12
47 years$757$433$237$125$64$10
48 years$733$414$223$116$58$9
49 years$709$395$209$107$53$8
50 years$687$377$197$99$48$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $704,000, adding $4,424 every year, while hoping to spend $31,319 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: 64/27/9 Blend
72$704,000$704,000$704,000$704,000
73$780,371$743,059$732,147$828,566
74$826,646$746,146$723,351$864,347
75$876,591$748,334$713,211$899,334
76$930,548$749,547$701,647$936,745
77$988,891$749,703$688,580$976,813
78$1,052,034$748,713$673,923$1,019,797
79$1,120,428$746,488$657,587$1,065,981
80$1,194,573$742,927$639,477$1,115,681
81$1,275,017$737,927$619,497$1,169,245
82$1,362,362$731,379$597,543$1,227,057
83$1,457,270$723,164$573,508$1,289,541
84$1,560,472$713,159$547,281$1,357,167
85$1,672,768$701,232$518,743$1,430,452
86$1,795,043$687,245$487,773$1,509,968
87$1,928,266$671,049$454,243$1,596,346
88$2,073,508$652,489$418,018$1,690,284
89$2,231,943$631,399$378,960$1,792,551
90$2,404,868$607,604$336,921$1,903,998
91$2,593,707$580,918$291,751$2,025,563
92$2,800,029$551,147$243,288$2,158,283
93$3,025,561$518,083$191,368$2,303,302
94$3,272,206$481,506$135,816$2,461,883
95$3,542,056$441,185$76,451$2,635,420
96$3,837,418$396,875$13,084$2,825,453
97$4,160,830$348,318$0$3,033,681
98$4,515,088$295,238$0$3,267,215
99$4,903,270$237,349$0$3,524,571
100$5,328,768$174,343$0$3,806,795