Can I retire at age 73 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$78,202$77,506$76,826$76,163$75,515$73,098
2 years$38,714$37,993$37,294$36,617$35,960$33,546
3 years$25,553$24,829$24,132$23,461$22,814$20,481
4 years$18,974$18,252$17,562$16,902$16,271$14,036
5 years$15,027$14,310$13,629$12,982$12,369$10,238
6 years$12,397$11,685$11,014$10,382$9,787$7,761
7 years$10,519$9,813$9,153$8,536$7,960$6,039
8 years$9,111$8,412$7,762$7,160$6,603$4,787
9 years$8,017$7,324$6,686$6,099$5,561$3,846
10 years$7,142$6,456$5,829$5,257$4,738$3,123
11 years$6,427$5,747$5,131$4,576$4,075$2,556
12 years$5,831$5,158$4,554$4,013$3,531$2,106
13 years$5,327$4,661$4,069$3,543$3,079$1,743
14 years$4,896$4,237$3,656$3,145$2,699$1,449
15 years$4,522$3,871$3,301$2,805$2,377$1,209
16 years$4,196$3,551$2,993$2,512$2,101$1,011
17 years$3,908$3,271$2,723$2,257$1,863$848
18 years$3,652$3,022$2,486$2,034$1,656$712
19 years$3,424$2,801$2,276$1,838$1,476$599
20 years$3,219$2,603$2,088$1,664$1,318$505
21 years$3,033$2,424$1,921$1,510$1,180$425
22 years$2,865$2,263$1,771$1,373$1,058$359
23 years$2,711$2,117$1,635$1,251$949$303
24 years$2,571$1,983$1,512$1,141$853$256
25 years$2,442$1,861$1,400$1,042$768$217
26 years$2,323$1,749$1,299$953$692$183
27 years$2,213$1,646$1,206$872$624$155
28 years$2,111$1,551$1,121$799$563$131
29 years$2,016$1,463$1,043$733$508$111
30 years$1,928$1,382$972$672$459$94
31 years$1,845$1,306$906$617$415$80
32 years$1,768$1,236$845$567$375$68
33 years$1,696$1,171$789$522$340$57
34 years$1,628$1,109$737$480$308$49
35 years$1,564$1,052$689$442$279$41
36 years$1,504$999$645$407$252$35
37 years$1,447$949$604$375$229$30
38 years$1,394$902$565$346$207$25
39 years$1,343$857$530$319$188$21
40 years$1,295$816$496$294$171$18
41 years$1,249$776$465$271$155$15
42 years$1,206$739$437$250$140$13
43 years$1,164$705$410$231$127$11
44 years$1,125$672$385$213$116$9
45 years$1,088$640$361$197$105$8
46 years$1,052$611$339$182$95$7
47 years$1,018$583$319$168$87$6
48 years$985$557$299$155$79$5
49 years$954$531$281$144$71$4
50 years$925$508$265$133$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $947,000, adding $2,873 every year, while hoping to spend $55,559 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: 76/16/8 Blend
72$947,000$947,000$947,000$947,000
73$1,046,557$996,366$981,688$1,124,648
74$1,094,192$986,074$955,460$1,166,112
75$1,144,823$973,415$926,492$1,204,161
76$1,198,698$958,215$894,632$1,244,266
77$1,256,087$940,290$859,724$1,286,610
78$1,317,285$919,442$821,602$1,331,394
79$1,382,618$895,464$780,096$1,378,841
80$1,452,441$868,137$735,024$1,429,197
81$1,527,142$837,228$686,200$1,482,734
82$1,607,149$802,491$633,427$1,539,752
83$1,692,931$763,666$576,499$1,600,582
84$1,785,001$720,476$515,202$1,665,592
85$1,883,922$672,631$449,313$1,735,186
86$1,990,314$619,822$378,597$1,809,813
87$2,104,857$561,724$302,811$1,889,965
88$2,228,296$497,992$221,699$1,976,190
89$2,361,452$428,263$134,995$2,069,092
90$2,505,224$352,152$42,421$2,169,336
91$2,660,603$269,253$0$2,277,661
92$2,828,675$179,138$0$2,399,692
93$3,010,636$81,352$0$2,535,694
94$3,207,801$0$0$2,683,061
95$3,421,614$0$0$2,847,248
96$3,653,665$0$0$3,041,014
97$3,905,700$0$0$3,251,501
98$4,179,643$0$0$3,480,316
99$4,477,608$0$0$3,729,231
100$4,801,923$0$0$4,000,194