Can I retire at age 73 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$79,937$79,225$78,530$77,852$77,190$76,384
2 years$39,573$38,836$38,121$37,429$36,757$35,945
3 years$26,120$25,379$24,667$23,981$23,320$22,528
4 years$19,395$18,657$17,951$17,277$16,632$15,865
5 years$15,360$14,627$13,931$13,270$12,643$11,905
6 years$12,672$11,944$11,258$10,612$10,004$9,294
7 years$10,752$10,031$9,356$8,725$8,136$7,455
8 years$9,313$8,598$7,934$7,319$6,750$6,098
9 years$8,195$7,486$6,834$6,234$5,684$5,061
10 years$7,300$6,599$5,958$5,374$4,843$4,249
11 years$6,569$5,874$5,245$4,677$4,165$3,599
12 years$5,960$5,273$4,655$4,102$3,610$3,070
13 years$5,445$4,765$4,159$3,622$3,148$2,635
14 years$5,004$4,331$3,737$3,215$2,759$2,272
15 years$4,622$3,957$3,374$2,867$2,429$1,968
16 years$4,289$3,630$3,059$2,567$2,147$1,710
17 years$3,994$3,343$2,783$2,307$1,904$1,490
18 years$3,733$3,089$2,541$2,079$1,693$1,302
19 years$3,500$2,863$2,326$1,878$1,509$1,140
20 years$3,290$2,660$2,135$1,701$1,348$1,000
21 years$3,100$2,478$1,964$1,544$1,206$879
22 years$2,928$2,313$1,810$1,404$1,081$773
23 years$2,771$2,164$1,671$1,278$970$681
24 years$2,628$2,027$1,545$1,166$872$601
25 years$2,496$1,902$1,431$1,065$785$530
26 years$2,374$1,788$1,327$974$707$469
27 years$2,262$1,683$1,233$891$637$414
28 years$2,157$1,586$1,146$817$575$366
29 years$2,061$1,496$1,066$749$519$324
30 years$1,970$1,413$993$687$469$287
31 years$1,886$1,335$926$631$424$254
32 years$1,807$1,264$864$580$384$226
33 years$1,734$1,197$807$533$347$200
34 years$1,664$1,134$754$491$314$177
35 years$1,599$1,076$705$452$285$157
36 years$1,537$1,021$659$416$258$140
37 years$1,479$970$617$383$234$124
38 years$1,425$922$578$353$212$110
39 years$1,373$876$541$326$192$98
40 years$1,323$834$507$301$174$87
41 years$1,277$794$476$277$158$77
42 years$1,232$756$446$256$144$68
43 years$1,190$720$419$236$130$61
44 years$1,150$686$393$218$118$54
45 years$1,112$655$369$201$107$48
46 years$1,075$624$347$186$97$43
47 years$1,041$596$326$172$89$38
48 years$1,007$569$306$159$80$34
49 years$976$543$288$147$73$30
50 years$945$519$270$136$66$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $968,000, adding $6,183 every year, while hoping to spend $25,395 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: 34/42/24 Blend
72$968,000$968,000$968,000$968,000
73$1,073,114$1,021,810$1,006,806$1,101,588
74$1,155,551$1,044,858$1,013,514$1,146,408
75$1,245,546$1,068,185$1,019,595$1,191,967
76$1,343,843$1,091,777$1,025,002$1,240,588
77$1,451,260$1,115,619$1,029,685$1,292,558
78$1,568,700$1,139,696$1,033,591$1,348,196
79$1,697,155$1,163,989$1,036,664$1,407,851
80$1,837,718$1,188,478$1,038,846$1,471,911
81$1,991,594$1,213,142$1,040,075$1,540,802
82$2,160,107$1,237,956$1,040,289$1,614,993
83$2,344,718$1,262,896$1,039,419$1,695,004
84$2,547,035$1,287,933$1,037,394$1,781,408
85$2,768,827$1,313,036$1,034,141$1,874,836
86$3,012,044$1,338,172$1,029,582$1,975,984
87$3,278,835$1,363,305$1,023,635$2,085,621
88$3,571,564$1,388,396$1,016,216$2,204,596
89$3,892,839$1,413,401$1,007,233$2,333,843
90$4,245,527$1,438,277$996,595$2,474,395
91$4,632,792$1,462,974$984,202$2,627,391
92$5,058,117$1,487,439$969,952$2,794,087
93$5,525,336$1,511,616$953,738$2,975,869
94$6,038,678$1,535,442$935,445$3,174,265
95$6,602,798$1,558,854$914,957$3,390,963
96$7,222,826$1,581,780$892,151$3,627,822
97$7,904,412$1,604,146$866,896$3,886,895
98$8,653,784$1,625,870$839,059$4,170,446
99$9,477,800$1,646,868$808,497$4,480,972
100$10,384,017$1,667,046$775,064$4,821,228