Can I retire at age 73 with 979,000?

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 $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%13%
1 years$80,845$80,125$79,422$78,736$78,067$77,091
2 years$40,022$39,277$38,554$37,854$37,175$36,193
3 years$26,416$25,668$24,947$24,253$23,585$22,628
4 years$19,615$18,869$18,155$17,473$16,821$15,896
5 years$15,535$14,793$14,089$13,421$12,787$11,896
6 years$12,816$12,080$11,386$10,733$10,118$9,263
7 years$10,875$10,145$9,462$8,824$8,229$7,409
8 years$9,419$8,696$8,024$7,402$6,826$6,043
9 years$8,288$7,571$6,911$6,305$5,749$5,001
10 years$7,383$6,674$6,026$5,435$4,898$4,185
11 years$6,644$5,941$5,305$4,730$4,213$3,534
12 years$6,028$5,332$4,708$4,149$3,651$3,005
13 years$5,507$4,819$4,206$3,663$3,183$2,571
14 years$5,061$4,380$3,779$3,252$2,791$2,210
15 years$4,675$4,002$3,412$2,900$2,457$1,907
16 years$4,337$3,671$3,094$2,596$2,172$1,652
17 years$4,040$3,381$2,815$2,333$1,925$1,435
18 years$3,776$3,124$2,570$2,102$1,712$1,249
19 years$3,540$2,896$2,353$1,900$1,526$1,090
20 years$3,327$2,691$2,159$1,721$1,363$952
21 years$3,136$2,506$1,986$1,562$1,220$834
22 years$2,961$2,340$1,830$1,420$1,093$731
23 years$2,803$2,188$1,690$1,293$981$641
24 years$2,657$2,050$1,563$1,179$882$563
25 years$2,524$1,924$1,448$1,077$794$495
26 years$2,401$1,808$1,343$985$715$436
27 years$2,287$1,702$1,247$901$645$384
28 years$2,182$1,604$1,159$826$582$338
29 years$2,084$1,513$1,079$757$525$298
30 years$1,993$1,429$1,005$695$475$263
31 years$1,908$1,351$937$638$429$232
32 years$1,828$1,278$874$587$388$205
33 years$1,753$1,210$816$539$351$181
34 years$1,683$1,147$762$496$318$160
35 years$1,617$1,088$713$457$288$141
36 years$1,555$1,033$667$421$261$125
37 years$1,496$981$624$388$237$110
38 years$1,441$932$584$357$214$97
39 years$1,388$886$548$330$194$86
40 years$1,338$843$513$304$176$76
41 years$1,291$803$481$280$160$67
42 years$1,246$764$451$259$145$59
43 years$1,204$728$424$239$132$53
44 years$1,163$694$398$221$120$47
45 years$1,125$662$373$204$109$41
46 years$1,088$632$351$188$99$36
47 years$1,052$603$329$174$90$32
48 years$1,019$575$310$161$81$28
49 years$987$549$291$148$74$25
50 years$956$525$274$137$67$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $979,000, adding $6,583 every year, while hoping to spend $34,320 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: 81/6/13 Blend
72$979,000$979,000$979,000$979,000
73$1,085,648$1,033,761$1,018,587$1,170,378
74$1,159,868$1,047,899$1,016,193$1,241,090
75$1,240,508$1,061,580$1,012,569$1,313,549
76$1,328,187$1,074,745$1,007,637$1,392,086
77$1,423,586$1,087,330$1,001,316$1,477,293
78$1,527,452$1,099,270$993,521$1,569,824
79$1,640,611$1,110,493$984,163$1,670,398
80$1,763,968$1,120,922$973,148$1,779,806
81$1,898,523$1,130,477$960,378$1,898,923
82$2,045,373$1,139,071$945,751$2,028,708
83$2,205,727$1,146,612$929,160$2,170,222
84$2,380,917$1,153,002$910,493$2,324,631
85$2,572,408$1,158,137$889,632$2,493,221
86$2,781,814$1,161,905$866,454$2,677,409
87$3,010,909$1,164,189$840,831$2,878,755
88$3,261,651$1,164,863$812,628$3,098,981
89$3,536,193$1,163,795$781,704$3,339,980
90$3,836,906$1,160,843$747,913$3,603,841
91$4,166,403$1,155,856$711,101$3,892,867
92$4,527,560$1,148,677$671,106$4,209,593
93$4,923,544$1,139,136$627,762$4,556,813
94$5,357,846$1,127,053$580,892$4,937,608
95$5,834,307$1,112,240$530,313$5,355,371
96$6,357,161$1,094,494$475,833$5,813,843
97$6,931,071$1,073,604$417,252$6,317,146
98$7,561,172$1,049,342$354,362$6,869,821
99$8,253,122$1,021,470$286,944$7,476,874
100$9,013,153$989,735$214,769$8,143,823