Can I retire at age 73 with 705,000?

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 $705,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$58,218$57,700$57,194$56,700$56,218$54,859
2 years$28,821$28,284$27,764$27,260$26,770$25,409
3 years$19,023$18,484$17,965$17,465$16,984$15,664
4 years$14,125$13,588$13,074$12,583$12,113$10,843
5 years$11,187$10,653$10,146$9,665$9,208$7,993
6 years$9,229$8,699$8,199$7,729$7,286$6,126
7 years$7,831$7,305$6,814$6,354$5,926$4,821
8 years$6,783$6,262$5,779$5,331$4,916$3,867
9 years$5,968$5,452$4,977$4,541$4,140$3,145
10 years$5,317$4,806$4,339$3,914$3,527$2,586
11 years$4,784$4,278$3,820$3,406$3,034$2,144
12 years$4,341$3,840$3,390$2,988$2,629$1,789
13 years$3,966$3,470$3,029$2,638$2,292$1,502
14 years$3,645$3,154$2,722$2,342$2,010$1,266
15 years$3,366$2,882$2,457$2,088$1,769$1,071
16 years$3,123$2,644$2,228$1,870$1,564$909
17 years$2,909$2,435$2,027$1,680$1,387$773
18 years$2,719$2,250$1,851$1,514$1,233$659
19 years$2,549$2,085$1,694$1,368$1,099$563
20 years$2,396$1,938$1,555$1,239$982$481
21 years$2,258$1,805$1,430$1,124$878$412
22 years$2,133$1,685$1,318$1,022$787$353
23 years$2,018$1,576$1,217$931$707$303
24 years$1,914$1,476$1,126$849$635$260
25 years$1,818$1,385$1,042$776$572$224
26 years$1,729$1,302$967$709$515$192
27 years$1,647$1,225$898$649$464$165
28 years$1,571$1,155$835$595$419$142
29 years$1,501$1,089$777$545$378$123
30 years$1,435$1,029$723$501$342$106
31 years$1,374$973$674$460$309$91
32 years$1,316$920$629$422$279$78
33 years$1,263$871$588$388$253$67
34 years$1,212$826$549$357$229$58
35 years$1,164$783$513$329$207$50
36 years$1,120$744$480$303$188$43
37 years$1,077$706$449$279$170$37
38 years$1,037$671$421$257$154$32
39 years$1,000$638$394$237$140$28
40 years$964$607$370$219$127$24
41 years$930$578$347$202$115$21
42 years$898$550$325$186$105$18
43 years$867$524$305$172$95$15
44 years$838$500$286$159$86$13
45 years$810$477$269$147$78$11
46 years$783$455$253$136$71$10
47 years$758$434$237$125$64$8
48 years$734$414$223$116$59$7
49 years$710$396$210$107$53$6
50 years$688$378$197$99$48$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $705,000, adding $4,888 every year, while hoping to spend $25,675 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: 80/8/12 Blend
72$705,000$705,000$705,000$705,000
73$781,952$744,587$733,659$842,392
74$834,393$753,754$730,919$891,951
75$891,323$762,509$727,226$942,494
76$953,171$770,806$722,522$997,212
77$1,020,413$778,594$716,745$1,056,511
78$1,093,569$785,819$709,830$1,120,839
79$1,173,213$792,423$701,709$1,190,687
80$1,259,975$798,347$692,311$1,266,598
81$1,354,551$803,524$681,562$1,349,171
82$1,457,705$807,886$669,383$1,439,062
83$1,570,277$811,359$655,694$1,536,998
84$1,693,194$813,864$640,408$1,643,778
85$1,827,475$815,319$623,437$1,760,283
86$1,974,242$815,634$604,687$1,887,482
87$2,134,731$814,717$584,061$2,026,446
88$2,310,302$812,467$561,455$2,178,353
89$2,502,453$808,778$536,764$2,344,500
90$2,712,834$803,538$509,876$2,526,319
91$2,943,259$796,628$480,673$2,725,388
92$3,195,730$787,921$449,034$2,943,442
93$3,472,449$777,284$414,832$3,182,398
94$3,775,843$764,574$377,932$3,444,366
95$4,108,582$749,642$338,196$3,731,671
96$4,473,611$732,327$295,479$4,046,877
97$4,874,169$712,462$249,628$4,392,808
98$5,313,829$689,867$200,485$4,772,578
99$5,796,522$664,353$147,884$5,189,619
100$6,326,582$635,721$91,652$5,647,710