Can I retire at age 73 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$243,608$241,438$239,321$237,255$235,237$227,616
2 years$120,598$118,352$116,175$114,065$112,018$104,411
3 years$79,600$77,344$75,173$73,082$71,069$63,715
4 years$59,105$56,856$54,707$52,652$50,687$43,643
5 years$46,811$44,576$42,455$40,442$38,531$31,816
6 years$38,618$36,400$34,310$32,341$30,488$24,107
7 years$32,768$30,568$28,512$26,590$24,795$18,747
8 years$28,383$26,203$24,180$22,305$20,570$14,851
9 years$24,974$22,814$20,826$18,999$17,323$11,926
10 years$22,248$20,110$18,157$16,378$14,760$9,677
11 years$20,019$17,902$15,985$14,253$12,694$7,916
12 years$18,163$16,068$14,186$12,502$11,000$6,516
13 years$16,594$14,521$12,674$11,038$9,593$5,391
14 years$15,250$13,199$11,388$9,798$8,409$4,479
15 years$14,087$12,058$10,282$8,738$7,404$3,734
16 years$13,070$11,063$9,322$7,824$6,544$3,121
17 years$12,173$10,188$8,483$7,030$5,802$2,614
18 years$11,377$9,414$7,744$6,335$5,159$2,194
19 years$10,666$8,725$7,089$5,724$4,598$1,844
20 years$10,026$8,108$6,506$5,185$4,107$1,552
21 years$9,448$7,552$5,984$4,705$3,675$1,308
22 years$8,924$7,050$5,515$4,278$3,295$1,103
23 years$8,445$6,593$5,092$3,896$2,957$931
24 years$8,008$6,178$4,710$3,554$2,658$786
25 years$7,606$5,797$4,362$3,245$2,392$664
26 years$7,235$5,449$4,046$2,967$2,155$562
27 years$6,892$5,128$3,757$2,716$1,943$475
28 years$6,575$4,832$3,492$2,489$1,753$402
29 years$6,280$4,558$3,250$2,282$1,583$340
30 years$6,005$4,305$3,027$2,094$1,430$288
31 years$5,748$4,070$2,822$1,923$1,293$244
32 years$5,508$3,851$2,633$1,768$1,170$206
33 years$5,283$3,647$2,459$1,626$1,058$175
34 years$5,072$3,456$2,297$1,496$958$148
35 years$4,873$3,278$2,148$1,377$868$125
36 years$4,685$3,111$2,009$1,268$786$106
37 years$4,508$2,955$1,880$1,168$713$90
38 years$4,341$2,808$1,761$1,077$646$76
39 years$4,183$2,671$1,650$993$586$65
40 years$4,033$2,541$1,546$916$531$55
41 years$3,891$2,419$1,450$845$482$46
42 years$3,756$2,303$1,360$780$438$39
43 years$3,627$2,195$1,276$720$397$33
44 years$3,505$2,092$1,198$665$360$28
45 years$3,388$1,995$1,125$614$327$24
46 years$3,277$1,903$1,057$567$297$20
47 years$3,171$1,816$993$524$270$17
48 years$3,070$1,734$933$484$245$15
49 years$2,973$1,656$877$447$223$12
50 years$2,880$1,581$824$414$202$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $2,950,000, adding $2,640 every year, while hoping to spend $33,882 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: 51/19/30 Blend
72$2,950,000$2,950,000$2,950,000$2,950,000
73$3,253,623$3,097,273$3,051,548$3,391,857
74$3,549,443$3,212,989$3,117,725$3,604,462
75$3,874,300$3,333,240$3,184,983$3,831,940
76$4,231,121$3,458,212$3,253,323$4,078,662
77$4,623,130$3,588,099$3,322,744$4,346,477
78$5,053,878$3,723,104$3,393,244$4,637,421
79$5,527,276$3,863,439$3,464,820$4,953,734
80$6,047,635$4,009,324$3,537,468$5,297,882
81$6,619,703$4,160,990$3,611,182$5,672,577
82$7,248,710$4,318,676$3,685,955$6,080,804
83$7,940,422$4,482,634$3,761,777$6,525,850
84$8,701,186$4,653,124$3,838,638$7,011,333
85$9,538,000$4,830,420$3,916,525$7,541,236
86$10,458,571$5,014,806$3,995,424$8,119,942
87$11,471,394$5,206,580$4,075,319$8,752,280
88$12,585,824$5,406,051$4,156,191$9,443,564
89$13,812,174$5,613,543$4,238,019$10,199,648
90$15,161,803$5,829,394$4,320,780$11,026,977
91$16,647,229$6,053,956$4,404,448$11,932,648
92$18,282,244$6,287,598$4,488,995$12,924,478
93$20,082,047$6,530,704$4,574,390$14,011,075
94$22,063,382$6,783,675$4,660,598$15,201,919
95$24,244,702$7,046,930$4,747,583$16,507,454
96$26,646,338$7,320,906$4,835,304$17,939,182
97$29,290,695$7,606,061$4,923,717$19,509,770
98$32,202,458$7,902,870$5,012,774$21,233,174
99$35,408,831$8,211,833$5,102,424$23,124,766
100$38,939,788$8,533,469$5,192,612$25,201,479