Can I retire at age 73 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$81,093$80,370$79,666$78,978$78,306$77,041
2 years$40,145$39,397$38,673$37,970$37,289$36,017
3 years$26,497$25,747$25,024$24,328$23,657$22,419
4 years$19,675$18,926$18,211$17,527$16,873$15,678
5 years$15,583$14,839$14,132$13,462$12,826$11,678
6 years$12,855$12,117$11,421$10,766$10,149$9,049
7 years$10,908$10,176$9,491$8,851$8,254$7,202
8 years$9,448$8,722$8,049$7,425$6,847$5,843
9 years$8,313$7,594$6,933$6,325$5,767$4,810
10 years$7,406$6,694$6,044$5,452$4,913$4,003
11 years$6,664$5,959$5,321$4,745$4,226$3,362
12 years$6,046$5,349$4,722$4,162$3,662$2,842
13 years$5,524$4,834$4,219$3,674$3,193$2,417
14 years$5,077$4,394$3,791$3,262$2,799$2,065
15 years$4,689$4,014$3,423$2,909$2,465$1,772
16 years$4,351$3,683$3,103$2,604$2,178$1,525
17 years$4,052$3,392$2,824$2,340$1,931$1,316
18 years$3,787$3,134$2,578$2,109$1,717$1,138
19 years$3,550$2,904$2,360$1,906$1,531$986
20 years$3,338$2,699$2,166$1,726$1,367$856
21 years$3,145$2,514$1,992$1,566$1,223$745
22 years$2,971$2,347$1,836$1,424$1,097$648
23 years$2,811$2,195$1,695$1,297$984$565
24 years$2,666$2,056$1,568$1,183$885$493
25 years$2,532$1,930$1,452$1,080$796$430
26 years$2,408$1,814$1,347$988$717$376
27 years$2,294$1,707$1,251$904$647$329
28 years$2,189$1,608$1,163$828$583$287
29 years$2,090$1,517$1,082$760$527$252
30 years$1,999$1,433$1,008$697$476$220
31 years$1,913$1,355$939$640$430$193
32 years$1,834$1,282$877$588$389$169
33 years$1,759$1,214$818$541$352$148
34 years$1,688$1,150$765$498$319$130
35 years$1,622$1,091$715$458$289$114
36 years$1,560$1,036$669$422$262$100
37 years$1,501$984$626$389$237$87
38 years$1,445$935$586$358$215$77
39 years$1,392$889$549$331$195$67
40 years$1,343$846$515$305$177$59
41 years$1,295$805$483$281$161$52
42 years$1,250$767$453$260$146$45
43 years$1,207$731$425$240$132$40
44 years$1,167$696$399$221$120$35
45 years$1,128$664$374$204$109$31
46 years$1,091$633$352$189$99$27
47 years$1,056$605$330$174$90$24
48 years$1,022$577$311$161$82$21
49 years$990$551$292$149$74$18
50 years$959$526$274$138$67$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $982,000, adding $5,341 every year, while hoping to spend $30,911 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: 42/33/25 Blend
72$982,000$982,000$982,000$982,000
73$1,087,673$1,035,627$1,020,406$1,125,198
74$1,165,727$1,053,484$1,021,701$1,170,428
75$1,250,706$1,071,180$1,022,003$1,216,033
76$1,343,284$1,088,674$1,021,246$1,264,814
77$1,444,203$1,105,923$1,019,362$1,317,082
78$1,554,279$1,122,880$1,016,277$1,373,179
79$1,674,409$1,139,495$1,011,917$1,433,485
80$1,805,584$1,155,715$1,006,200$1,498,417
81$1,948,890$1,171,481$999,045$1,568,437
82$2,105,525$1,186,733$990,362$1,644,058
83$2,276,811$1,201,404$980,060$1,725,842
84$2,464,197$1,215,425$968,044$1,814,413
85$2,669,285$1,228,720$954,213$1,910,460
86$2,893,834$1,241,209$938,461$2,014,742
87$3,139,783$1,252,808$920,678$2,128,099
88$3,409,270$1,263,423$900,750$2,251,458
89$3,704,644$1,272,960$878,554$2,385,844
90$4,028,497$1,281,315$853,965$2,532,386
91$4,383,682$1,288,377$826,850$2,692,333
92$4,773,340$1,294,030$797,072$2,867,064
93$5,200,933$1,298,149$764,486$3,058,099
94$5,670,272$1,300,603$728,941$3,267,120
95$6,185,558$1,301,251$690,279$3,495,979
96$6,751,416$1,299,943$648,334$3,746,725
97$7,372,942$1,296,521$602,934$4,021,615
98$8,055,749$1,290,818$553,899$4,323,144
99$8,806,021$1,282,654$501,041$4,654,064
100$9,630,572$1,271,841$444,163$5,017,411