Can I retire at age 73 with 947,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%17.1%
1 years$78,202$77,506$76,826$76,163$75,515$73,333
2 years$38,714$37,993$37,294$36,617$35,960$33,778
3 years$25,553$24,829$24,132$23,461$22,814$20,702
4 years$18,974$18,252$17,562$16,902$16,271$14,245
5 years$15,027$14,310$13,629$12,982$12,369$10,434
6 years$12,397$11,685$11,014$10,382$9,787$7,945
7 years$10,519$9,813$9,153$8,536$7,960$6,210
8 years$9,111$8,412$7,762$7,160$6,603$4,946
9 years$8,017$7,324$6,686$6,099$5,561$3,993
10 years$7,142$6,456$5,829$5,257$4,738$3,259
11 years$6,427$5,747$5,131$4,576$4,075$2,681
12 years$5,831$5,158$4,554$4,013$3,531$2,220
13 years$5,327$4,661$4,069$3,543$3,079$1,848
14 years$4,896$4,237$3,656$3,145$2,699$1,545
15 years$4,522$3,871$3,301$2,805$2,377$1,296
16 years$4,196$3,551$2,993$2,512$2,101$1,090
17 years$3,908$3,271$2,723$2,257$1,863$920
18 years$3,652$3,022$2,486$2,034$1,656$777
19 years$3,424$2,801$2,276$1,838$1,476$658
20 years$3,219$2,603$2,088$1,664$1,318$557
21 years$3,033$2,424$1,921$1,510$1,180$473
22 years$2,865$2,263$1,771$1,373$1,058$402
23 years$2,711$2,117$1,635$1,251$949$341
24 years$2,571$1,983$1,512$1,141$853$290
25 years$2,442$1,861$1,400$1,042$768$247
26 years$2,323$1,749$1,299$953$692$210
27 years$2,213$1,646$1,206$872$624$179
28 years$2,111$1,551$1,121$799$563$153
29 years$2,016$1,463$1,043$733$508$130
30 years$1,928$1,382$972$672$459$111
31 years$1,845$1,306$906$617$415$95
32 years$1,768$1,236$845$567$375$81
33 years$1,696$1,171$789$522$340$69
34 years$1,628$1,109$737$480$308$59
35 years$1,564$1,052$689$442$279$50
36 years$1,504$999$645$407$252$43
37 years$1,447$949$604$375$229$37
38 years$1,394$902$565$346$207$31
39 years$1,343$857$530$319$188$27
40 years$1,295$816$496$294$171$23
41 years$1,249$776$465$271$155$19
42 years$1,206$739$437$250$140$17
43 years$1,164$705$410$231$127$14
44 years$1,125$672$385$213$116$12
45 years$1,088$640$361$197$105$10
46 years$1,052$611$339$182$95$9
47 years$1,018$583$319$168$87$8
48 years$985$557$299$155$79$6
49 years$954$531$281$144$71$5
50 years$925$508$265$133$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $947,000, adding $5,299 every year, while hoping to spend $37,691 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: 60/15/25 Blend
72$947,000$947,000$947,000$947,000
73$1,049,060$998,869$984,190$1,104,680
74$1,115,961$1,007,711$977,058$1,151,969
75$1,188,423$1,015,722$968,423$1,199,008
76$1,266,973$1,022,823$958,196$1,249,520
77$1,352,191$1,028,928$946,282$1,303,852
78$1,444,715$1,033,946$932,583$1,362,385
79$1,545,246$1,037,780$916,995$1,425,542
80$1,654,556$1,040,326$899,409$1,493,788
81$1,773,494$1,041,476$879,713$1,567,639
82$1,902,994$1,041,112$857,787$1,647,663
83$2,044,085$1,039,111$833,508$1,734,489
84$2,197,896$1,035,343$806,746$1,828,810
85$2,365,674$1,029,667$777,364$1,931,392
86$2,548,788$1,021,936$745,221$2,043,083
87$2,748,747$1,011,994$710,169$2,164,816
88$2,967,212$999,673$672,052$2,297,623
89$3,206,010$984,800$630,707$2,442,643
90$3,467,153$967,185$585,967$2,601,134
91$3,752,859$946,633$537,652$2,774,485
92$4,065,566$922,934$485,579$2,964,228
93$4,407,961$895,865$429,554$3,172,055
94$4,783,004$865,193$369,374$3,399,834
95$5,193,952$830,669$304,830$3,649,624
96$5,644,393$792,031$235,701$3,923,701
97$6,138,281$749,000$161,756$4,224,576
98$6,679,967$701,282$82,756$4,555,017
99$7,274,246$648,567$0$4,918,082
100$7,926,399$590,526$0$5,317,556