Can I retire at age 73 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$80,184$79,470$78,773$78,093$77,429$76,588
2 years$39,695$38,956$38,239$37,545$36,871$36,025
3 years$26,201$25,458$24,743$24,055$23,392$22,567
4 years$19,455$18,714$18,007$17,330$16,684$15,885
5 years$15,408$14,672$13,974$13,311$12,683$11,913
6 years$12,711$11,981$11,293$10,645$10,035$9,296
7 years$10,786$10,062$9,385$8,752$8,161$7,452
8 years$9,342$8,625$7,959$7,342$6,771$6,092
9 years$8,220$7,509$6,855$6,254$5,702$5,053
10 years$7,323$6,619$5,976$5,391$4,858$4,239
11 years$6,589$5,893$5,261$4,692$4,178$3,589
12 years$5,979$5,289$4,669$4,115$3,621$3,060
13 years$5,462$4,780$4,172$3,633$3,157$2,624
14 years$5,020$4,345$3,748$3,225$2,768$2,262
15 years$4,637$3,969$3,384$2,876$2,437$1,957
16 years$4,302$3,641$3,068$2,575$2,154$1,700
17 years$4,007$3,354$2,792$2,314$1,910$1,480
18 years$3,745$3,099$2,549$2,085$1,698$1,293
19 years$3,511$2,872$2,333$1,884$1,513$1,131
20 years$3,300$2,669$2,141$1,707$1,352$991
21 years$3,110$2,486$1,970$1,549$1,210$870
22 years$2,937$2,320$1,815$1,408$1,084$765
23 years$2,780$2,170$1,676$1,282$973$674
24 years$2,636$2,033$1,550$1,170$875$594
25 years$2,503$1,908$1,436$1,068$787$524
26 years$2,381$1,793$1,332$977$709$462
27 years$2,269$1,688$1,237$894$639$408
28 years$2,164$1,590$1,150$819$577$361
29 years$2,067$1,500$1,070$751$521$319
30 years$1,977$1,417$996$689$471$282
31 years$1,892$1,339$929$633$426$250
32 years$1,813$1,267$867$582$385$221
33 years$1,739$1,200$809$535$348$196
34 years$1,669$1,138$756$492$315$174
35 years$1,604$1,079$707$453$286$154
36 years$1,542$1,024$661$417$259$137
37 years$1,484$973$619$385$235$121
38 years$1,429$924$580$354$213$107
39 years$1,377$879$543$327$193$95
40 years$1,328$836$509$301$175$84
41 years$1,281$796$477$278$159$75
42 years$1,236$758$448$257$144$67
43 years$1,194$722$420$237$131$59
44 years$1,154$689$394$219$119$52
45 years$1,115$657$370$202$108$46
46 years$1,079$626$348$187$98$41
47 years$1,044$598$327$172$89$37
48 years$1,010$571$307$159$81$33
49 years$979$545$289$147$73$29
50 years$948$521$271$136$67$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $971,000, adding $2,501 every year, while hoping to spend $35,405 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: 32/40/28 Blend
72$971,000$971,000$971,000$971,000
73$1,072,622$1,021,159$1,006,108$1,097,716
74$1,144,359$1,033,525$1,002,142$1,129,535
75$1,222,226$1,045,310$996,857$1,160,483
76$1,306,812$1,056,449$990,170$1,193,125
77$1,398,763$1,066,871$981,997$1,227,637
78$1,498,790$1,076,502$972,248$1,264,211
79$1,607,677$1,085,261$960,829$1,303,062
80$1,726,285$1,093,064$947,641$1,344,431
81$1,855,562$1,099,819$932,583$1,388,584
82$1,996,550$1,105,432$915,545$1,435,818
83$2,150,399$1,109,798$896,416$1,486,462
84$2,318,371$1,112,810$875,078$1,540,881
85$2,501,858$1,114,351$851,407$1,599,482
86$2,702,392$1,114,299$825,273$1,662,717
87$2,921,659$1,112,522$796,543$1,731,086
88$3,161,516$1,108,883$765,074$1,805,145
89$3,424,005$1,103,233$730,719$1,885,510
90$3,711,380$1,095,417$693,324$1,972,865
91$4,026,117$1,085,269$652,727$2,067,968
92$4,370,947$1,072,614$608,759$2,171,659
93$4,748,876$1,057,264$561,245$2,284,869
94$5,163,215$1,039,024$510,000$2,408,630
95$5,617,609$1,017,683$454,832$2,544,085
96$6,116,076$993,020$395,540$2,692,498
97$6,663,039$964,801$331,913$2,855,271
98$7,263,371$932,778$263,734$3,033,954
99$7,922,438$896,688$190,773$3,230,265
100$8,646,154$856,252$112,791$3,446,102