Can I retire at age 73 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$81,918$81,189$80,477$79,782$79,103$78,147
2 years$40,554$39,798$39,066$38,357$37,668$36,706
3 years$26,767$26,009$25,279$24,576$23,898$22,960
4 years$19,875$19,119$18,396$17,705$17,044$16,137
5 years$15,741$14,990$14,276$13,599$12,957$12,083
6 years$12,986$12,240$11,537$10,876$10,252$9,413
7 years$11,019$10,279$9,588$8,941$8,338$7,534
8 years$9,544$8,811$8,131$7,501$6,917$6,148
9 years$8,398$7,672$7,003$6,389$5,825$5,091
10 years$7,481$6,762$6,106$5,507$4,963$4,263
11 years$6,732$6,020$5,375$4,793$4,269$3,602
12 years$6,108$5,403$4,770$4,204$3,699$3,065
13 years$5,580$4,883$4,262$3,712$3,226$2,624
14 years$5,128$4,439$3,829$3,295$2,828$2,257
15 years$4,737$4,055$3,458$2,938$2,490$1,949
16 years$4,395$3,720$3,135$2,631$2,200$1,689
17 years$4,093$3,426$2,852$2,364$1,951$1,468
18 years$3,826$3,166$2,604$2,130$1,735$1,279
19 years$3,587$2,934$2,384$1,925$1,546$1,117
20 years$3,371$2,726$2,188$1,743$1,381$977
21 years$3,177$2,540$2,012$1,582$1,236$856
22 years$3,001$2,371$1,855$1,439$1,108$751
23 years$2,840$2,217$1,712$1,310$994$659
24 years$2,693$2,077$1,584$1,195$894$580
25 years$2,558$1,950$1,467$1,091$804$510
26 years$2,433$1,832$1,360$998$725$449
27 years$2,318$1,724$1,263$913$653$396
28 years$2,211$1,625$1,174$837$589$349
29 years$2,112$1,533$1,093$767$532$308
30 years$2,019$1,448$1,018$704$481$272
31 years$1,933$1,368$949$647$435$240
32 years$1,852$1,295$885$594$393$212
33 years$1,777$1,226$827$547$356$187
34 years$1,705$1,162$772$503$322$166
35 years$1,639$1,102$722$463$292$146
36 years$1,576$1,046$676$426$264$129
37 years$1,516$994$632$393$240$114
38 years$1,460$944$592$362$217$101
39 years$1,407$898$555$334$197$90
40 years$1,356$854$520$308$179$79
41 years$1,308$813$488$284$162$70
42 years$1,263$775$457$262$147$62
43 years$1,220$738$429$242$134$55
44 years$1,179$703$403$224$121$49
45 years$1,139$671$378$206$110$43
46 years$1,102$640$355$191$100$38
47 years$1,066$611$334$176$91$34
48 years$1,032$583$314$163$82$30
49 years$1,000$557$295$150$75$26
50 years$969$532$277$139$68$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $992,000, adding $3,355 every year, while hoping to spend $54,839 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: 66/21/13 Blend
72$992,000$992,000$992,000$992,000
73$1,096,645$1,044,069$1,028,693$1,165,536
74$1,150,154$1,036,880$1,004,806$1,204,728
75$1,207,284$1,027,501$978,280$1,240,800
76$1,268,344$1,015,766$948,971$1,278,843
77$1,333,678$1,001,501$916,723$1,319,046
78$1,403,658$984,520$881,379$1,361,620
79$1,478,696$964,625$842,769$1,406,797
80$1,559,241$941,610$800,720$1,454,836
81$1,645,788$915,253$755,049$1,506,022
82$1,738,879$885,321$705,563$1,560,674
83$1,839,109$851,567$652,065$1,619,143
84$1,947,134$813,729$594,344$1,681,820
85$2,063,670$771,531$532,184$1,749,138
86$2,189,509$724,680$465,356$1,821,575
87$2,325,516$672,866$393,622$1,899,662
88$2,472,645$615,763$316,735$1,983,988
89$2,631,943$553,025$234,435$2,075,204
90$2,804,564$484,285$146,451$2,174,031
91$2,991,773$409,159$52,501$2,281,267
92$3,194,964$327,237$0$2,397,796
93$3,415,668$238,090$0$2,531,222
94$3,655,570$141,260$0$2,684,203
95$3,916,525$36,269$0$2,850,693
96$4,200,572$0$0$3,032,063
97$4,509,955$0$0$3,247,711
98$4,847,145$0$0$3,491,933
99$5,214,859$0$0$3,758,324
100$5,616,088$0$0$4,049,058