Can I retire at age 73 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$80,845$80,125$79,422$78,736$78,067$76,742
2 years$40,022$39,277$38,554$37,854$37,175$35,844
3 years$26,416$25,668$24,947$24,253$23,585$22,290
4 years$19,615$18,869$18,155$17,473$16,821$15,572
5 years$15,535$14,793$14,089$13,421$12,787$11,587
6 years$12,816$12,080$11,386$10,733$10,118$8,968
7 years$10,875$10,145$9,462$8,824$8,229$7,130
8 years$9,419$8,696$8,024$7,402$6,826$5,778
9 years$8,288$7,571$6,911$6,305$5,749$4,751
10 years$7,383$6,674$6,026$5,435$4,898$3,949
11 years$6,644$5,941$5,305$4,730$4,213$3,312
12 years$6,028$5,332$4,708$4,149$3,651$2,797
13 years$5,507$4,819$4,206$3,663$3,183$2,375
14 years$5,061$4,380$3,779$3,252$2,791$2,027
15 years$4,675$4,002$3,412$2,900$2,457$1,736
16 years$4,337$3,671$3,094$2,596$2,172$1,492
17 years$4,040$3,381$2,815$2,333$1,925$1,286
18 years$3,776$3,124$2,570$2,102$1,712$1,111
19 years$3,540$2,896$2,353$1,900$1,526$961
20 years$3,327$2,691$2,159$1,721$1,363$833
21 years$3,136$2,506$1,986$1,562$1,220$723
22 years$2,961$2,340$1,830$1,420$1,093$629
23 years$2,803$2,188$1,690$1,293$981$547
24 years$2,657$2,050$1,563$1,179$882$477
25 years$2,524$1,924$1,448$1,077$794$415
26 years$2,401$1,808$1,343$985$715$362
27 years$2,287$1,702$1,247$901$645$316
28 years$2,182$1,604$1,159$826$582$276
29 years$2,084$1,513$1,079$757$525$241
30 years$1,993$1,429$1,005$695$475$211
31 years$1,908$1,351$937$638$429$184
32 years$1,828$1,278$874$587$388$161
33 years$1,753$1,210$816$539$351$141
34 years$1,683$1,147$762$496$318$123
35 years$1,617$1,088$713$457$288$108
36 years$1,555$1,033$667$421$261$95
37 years$1,496$981$624$388$237$83
38 years$1,441$932$584$357$214$72
39 years$1,388$886$548$330$194$63
40 years$1,338$843$513$304$176$56
41 years$1,291$803$481$280$160$49
42 years$1,246$764$451$259$145$43
43 years$1,204$728$424$239$132$37
44 years$1,163$694$398$221$120$33
45 years$1,125$662$373$204$109$29
46 years$1,088$632$351$188$99$25
47 years$1,052$603$329$174$90$22
48 years$1,019$575$310$161$81$19
49 years$987$549$291$148$74$17
50 years$956$525$274$137$67$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $979,000, adding $6,032 every year, while hoping to spend $34,350 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: 63/21/16 Blend
72$979,000$979,000$979,000$979,000
73$1,085,080$1,033,193$1,018,019$1,148,772
74$1,159,210$1,047,271$1,015,574$1,206,352
75$1,239,750$1,060,888$1,011,896$1,264,752
76$1,327,318$1,073,985$1,006,908$1,327,701
77$1,422,592$1,086,498$1,000,527$1,395,646
78$1,526,321$1,098,361$992,670$1,469,076
79$1,639,327$1,109,502$983,245$1,548,531
80$1,762,515$1,119,845$972,161$1,634,609
81$1,896,882$1,129,307$959,319$1,727,966
82$2,043,524$1,137,803$944,616$1,829,328
83$2,203,648$1,145,240$927,945$1,939,495
84$2,378,582$1,151,519$909,193$2,059,349
85$2,569,790$1,156,536$888,243$2,189,864
86$2,778,882$1,160,179$864,973$2,332,112
87$3,007,630$1,162,331$839,252$2,487,277
88$3,257,989$1,162,865$810,947$2,656,665
89$3,532,106$1,161,648$779,916$2,841,717
90$3,832,350$1,158,538$746,013$3,044,019
91$4,161,328$1,153,385$709,083$3,265,325
92$4,521,912$1,146,028$668,965$3,507,565
93$4,917,263$1,136,300$625,491$3,772,870
94$5,350,864$1,124,019$578,485$4,063,590
95$5,826,552$1,108,995$527,764$4,382,315
96$6,348,552$1,091,028$473,136$4,731,904
97$6,921,518$1,069,902$414,400$5,115,507
98$7,550,577$1,045,392$351,347$5,536,600
99$8,241,377$1,017,257$283,758$5,999,014
100$9,000,139$985,244$211,406$6,506,975