Can I retire at age 73 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$78,450$77,751$77,070$76,404$75,754$73,654
2 years$38,837$38,113$37,412$36,733$36,073$33,973
3 years$25,634$24,908$24,208$23,535$22,887$20,852
4 years$19,034$18,310$17,617$16,956$16,323$14,370
5 years$15,075$14,355$13,672$13,024$12,408$10,542
6 years$12,436$11,722$11,049$10,415$9,818$8,040
7 years$10,552$9,844$9,182$8,563$7,985$6,296
8 years$9,140$8,438$7,787$7,183$6,624$5,022
9 years$8,042$7,347$6,707$6,118$5,579$4,063
10 years$7,165$6,476$5,847$5,274$4,753$3,322
11 years$6,447$5,765$5,148$4,590$4,088$2,738
12 years$5,849$5,175$4,568$4,026$3,543$2,272
13 years$5,344$4,676$4,082$3,554$3,089$1,895
14 years$4,911$4,251$3,667$3,155$2,708$1,588
15 years$4,536$3,883$3,311$2,814$2,384$1,335
16 years$4,209$3,563$3,002$2,520$2,107$1,125
17 years$3,920$3,281$2,732$2,264$1,868$951
18 years$3,664$3,032$2,494$2,040$1,661$805
19 years$3,435$2,810$2,283$1,843$1,481$683
20 years$3,229$2,611$2,095$1,670$1,323$580
21 years$3,043$2,432$1,927$1,515$1,184$493
22 years$2,874$2,270$1,776$1,378$1,061$420
23 years$2,720$2,123$1,640$1,255$952$358
24 years$2,579$1,989$1,517$1,144$856$305
25 years$2,449$1,867$1,405$1,045$770$260
26 years$2,330$1,755$1,303$956$694$222
27 years$2,220$1,651$1,210$875$626$190
28 years$2,117$1,556$1,125$801$564$162
29 years$2,022$1,468$1,047$735$510$139
30 years$1,934$1,386$975$674$461$118
31 years$1,851$1,311$909$619$416$101
32 years$1,774$1,240$848$569$377$87
33 years$1,701$1,174$792$523$341$74
34 years$1,633$1,113$740$482$309$63
35 years$1,569$1,056$692$443$280$54
36 years$1,509$1,002$647$408$253$46
37 years$1,452$952$606$376$230$40
38 years$1,398$904$567$347$208$34
39 years$1,347$860$531$320$189$29
40 years$1,299$818$498$295$171$25
41 years$1,253$779$467$272$155$21
42 years$1,209$742$438$251$141$18
43 years$1,168$707$411$232$128$16
44 years$1,129$674$386$214$116$13
45 years$1,091$642$362$198$105$11
46 years$1,055$613$340$183$96$10
47 years$1,021$585$320$169$87$8
48 years$989$558$300$156$79$7
49 years$957$533$282$144$72$6
50 years$928$509$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 $950,000, adding $2,116 every year, while hoping to spend $30,840 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: 58/28/14 Blend
72$950,000$950,000$950,000$950,000
73$1,049,083$998,733$984,008$1,106,086
74$1,123,276$1,014,857$984,158$1,160,980
75$1,204,003$1,030,738$983,281$1,217,195
76$1,291,897$1,046,331$981,307$1,277,751
77$1,387,658$1,061,588$978,168$1,343,070
78$1,492,051$1,076,458$973,789$1,413,616
79$1,605,923$1,090,887$968,093$1,489,903
80$1,730,203$1,104,816$961,000$1,572,496
81$1,865,914$1,118,182$952,423$1,662,018
82$2,014,183$1,130,919$942,276$1,759,159
83$2,176,251$1,142,955$930,463$1,864,675
84$2,353,483$1,154,215$916,889$1,979,404
85$2,547,384$1,164,617$901,450$2,104,268
86$2,759,609$1,174,075$884,040$2,240,286
87$2,991,981$1,182,496$864,547$2,388,578
88$3,246,508$1,189,784$842,855$2,550,383
89$3,525,401$1,195,833$818,840$2,727,066
90$3,831,096$1,200,532$792,374$2,920,133
91$4,166,273$1,203,764$763,325$3,131,242
92$4,533,887$1,205,403$731,551$3,362,227
93$4,937,192$1,205,316$696,906$3,615,105
94$5,379,771$1,203,361$659,237$3,892,103
95$5,865,570$1,199,389$618,384$4,195,678
96$6,398,939$1,193,239$574,181$4,528,538
97$6,984,666$1,184,743$526,451$4,893,668
98$7,628,028$1,173,722$475,013$5,294,363
99$8,334,837$1,159,984$419,676$5,734,255
100$9,111,496$1,143,329$360,241$6,217,347