Can I retire at age 73 with 981,000?

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 $981,000?

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$81,010$80,288$79,584$78,897$78,226$77,377
2 years$40,104$39,357$38,633$37,931$37,251$36,396
3 years$26,470$25,720$24,998$24,303$23,633$22,799
4 years$19,655$18,907$18,192$17,509$16,855$16,048
5 years$15,567$14,823$14,118$13,449$12,813$12,036
6 years$12,842$12,104$11,409$10,755$10,139$9,391
7 years$10,897$10,165$9,481$8,842$8,245$7,529
8 years$9,438$8,714$8,041$7,418$6,840$6,155
9 years$8,305$7,587$6,926$6,318$5,761$5,105
10 years$7,398$6,687$6,038$5,446$4,908$4,283
11 years$6,657$5,953$5,316$4,740$4,221$3,626
12 years$6,040$5,343$4,718$4,157$3,658$3,091
13 years$5,518$4,829$4,215$3,670$3,190$2,651
14 years$5,071$4,389$3,787$3,258$2,796$2,285
15 years$4,684$4,010$3,419$2,906$2,462$1,977
16 years$4,346$3,679$3,100$2,602$2,176$1,717
17 years$4,048$3,388$2,821$2,338$1,929$1,496
18 years$3,783$3,131$2,575$2,107$1,716$1,306
19 years$3,547$2,902$2,357$1,904$1,529$1,143
20 years$3,334$2,696$2,163$1,724$1,366$1,002
21 years$3,142$2,511$1,990$1,565$1,222$879
22 years$2,968$2,344$1,834$1,423$1,096$773
23 years$2,808$2,193$1,693$1,296$983$681
24 years$2,663$2,054$1,566$1,182$884$600
25 years$2,529$1,928$1,451$1,079$795$529
26 years$2,406$1,812$1,345$987$716$467
27 years$2,292$1,705$1,249$903$646$413
28 years$2,186$1,607$1,161$828$583$365
29 years$2,088$1,516$1,081$759$526$322
30 years$1,997$1,432$1,007$696$476$285
31 years$1,912$1,353$938$640$430$253
32 years$1,832$1,280$876$588$389$224
33 years$1,757$1,213$818$541$352$198
34 years$1,687$1,149$764$497$319$176
35 years$1,620$1,090$714$458$289$156
36 years$1,558$1,035$668$422$262$138
37 years$1,499$983$625$389$237$122
38 years$1,444$934$586$358$215$108
39 years$1,391$888$549$330$195$96
40 years$1,341$845$514$305$177$85
41 years$1,294$804$482$281$160$76
42 years$1,249$766$452$259$146$67
43 years$1,206$730$424$239$132$60
44 years$1,166$696$398$221$120$53
45 years$1,127$663$374$204$109$47
46 years$1,090$633$351$189$99$42
47 years$1,055$604$330$174$90$37
48 years$1,021$577$310$161$81$33
49 years$989$551$292$149$74$29
50 years$958$526$274$138$67$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $981,000, adding $5,970 every year, while hoping to spend $29,388 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: 59/18/23 Blend
72$981,000$981,000$981,000$981,000
73$1,087,220$1,035,227$1,020,022$1,144,352
74$1,166,848$1,054,685$1,022,924$1,203,359
75$1,253,613$1,074,111$1,024,938$1,263,994
76$1,348,212$1,093,472$1,026,004$1,329,488
77$1,451,412$1,112,735$1,026,058$1,400,317
78$1,564,057$1,131,860$1,025,032$1,477,007
79$1,687,078$1,150,808$1,022,857$1,560,139
80$1,821,496$1,169,534$1,019,459$1,650,351
81$1,968,438$1,187,991$1,014,760$1,748,349
82$2,129,145$1,206,128$1,008,681$1,854,911
83$2,304,981$1,223,892$1,001,135$1,970,894
84$2,497,451$1,241,225$992,035$2,097,243
85$2,708,209$1,258,063$981,287$2,235,001
86$2,939,080$1,274,341$968,793$2,385,319
87$3,192,070$1,289,988$954,452$2,549,463
88$3,469,391$1,304,928$938,156$2,728,832
89$3,773,478$1,319,078$919,793$2,924,967
90$4,107,014$1,332,354$899,247$3,139,569
91$4,472,953$1,344,663$876,395$3,374,511
92$4,874,549$1,355,906$851,109$3,631,861
93$5,315,386$1,365,978$823,254$3,913,897
94$5,799,413$1,374,769$792,691$4,223,132
95$6,330,979$1,382,159$759,272$4,562,338
96$6,914,876$1,388,021$722,845$4,934,569
97$7,556,381$1,392,223$683,248$5,343,194
98$8,261,310$1,394,620$640,315$5,791,926
99$9,036,068$1,395,061$593,871$6,284,860
100$9,887,714$1,393,385$543,731$6,826,512