Can I retire at age 73 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$56,897$56,390$55,896$55,413$54,942$54,664
2 years$28,167$27,642$27,134$26,641$26,163$25,883
3 years$18,591$18,065$17,557$17,069$16,599$16,325
4 years$13,805$13,279$12,777$12,297$11,838$11,573
5 years$10,933$10,411$9,916$9,446$8,999$8,743
6 years$9,020$8,501$8,013$7,554$7,121$6,873
7 years$7,653$7,140$6,659$6,210$5,791$5,553
8 years$6,629$6,120$5,647$5,210$4,804$4,576
9 years$5,833$5,328$4,864$4,437$4,046$3,827
10 years$5,196$4,697$4,241$3,825$3,447$3,238
11 years$4,676$4,181$3,733$3,329$2,965$2,764
12 years$4,242$3,753$3,313$2,920$2,569$2,378
13 years$3,876$3,392$2,960$2,578$2,240$2,058
14 years$3,562$3,083$2,660$2,288$1,964$1,790
15 years$3,290$2,816$2,401$2,041$1,729$1,564
16 years$3,053$2,584$2,177$1,827$1,528$1,371
17 years$2,843$2,380$1,981$1,642$1,355$1,206
18 years$2,657$2,199$1,809$1,480$1,205$1,063
19 years$2,491$2,038$1,656$1,337$1,074$940
20 years$2,342$1,894$1,519$1,211$959$832
21 years$2,207$1,764$1,398$1,099$858$738
22 years$2,084$1,647$1,288$999$769$656
23 years$1,973$1,540$1,189$910$691$584
24 years$1,870$1,443$1,100$830$621$520
25 years$1,776$1,354$1,019$758$559$463
26 years$1,690$1,273$945$693$503$414
27 years$1,610$1,198$877$634$454$369
28 years$1,536$1,129$816$581$409$330
29 years$1,467$1,065$759$533$370$295
30 years$1,403$1,005$707$489$334$264
31 years$1,343$950$659$449$302$237
32 years$1,286$899$615$413$273$212
33 years$1,234$852$574$380$247$190
34 years$1,185$807$537$349$224$170
35 years$1,138$766$502$322$203$153
36 years$1,094$727$469$296$184$137
37 years$1,053$690$439$273$166$123
38 years$1,014$656$411$252$151$110
39 years$977$624$385$232$137$99
40 years$942$593$361$214$124$89
41 years$909$565$339$197$113$80
42 years$877$538$318$182$102$72
43 years$847$513$298$168$93$64
44 years$819$489$280$155$84$58
45 years$791$466$263$143$76$52
46 years$765$444$247$132$69$47
47 years$741$424$232$122$63$42
48 years$717$405$218$113$57$38
49 years$694$387$205$104$52$34
50 years$673$369$193$97$47$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $689,000, adding $4,238 every year, while hoping to spend $27,910 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: 75/17/8 Blend
72$689,000$689,000$689,000$689,000
73$763,649$727,132$716,453$819,680
74$811,846$733,066$710,758$863,082
75$864,023$738,355$703,937$906,668
76$920,556$742,938$695,923$953,632
77$981,862$746,750$686,644$1,004,300
78$1,048,393$749,723$676,029$1,059,031
79$1,120,652$751,782$663,998$1,118,218
80$1,199,189$752,850$650,473$1,182,297
81$1,284,610$752,843$635,367$1,251,746
82$1,377,582$751,674$618,594$1,327,093
83$1,478,838$749,248$600,059$1,408,921
84$1,589,185$745,467$579,667$1,497,871
85$1,709,512$740,226$557,316$1,594,651
86$1,840,797$733,412$532,901$1,700,039
87$1,984,116$724,906$506,311$1,814,896
88$2,140,654$714,584$477,430$1,940,168
89$2,311,714$702,312$446,137$2,076,900
90$2,498,733$687,950$412,307$2,226,243
91$2,703,291$671,347$375,807$2,389,466
92$2,927,130$652,345$336,499$2,567,969
93$3,172,165$630,778$294,240$2,763,293
94$3,440,507$606,468$248,879$2,977,140
95$3,734,481$579,228$200,258$3,211,384
96$4,056,647$548,858$148,215$3,468,092
97$4,409,822$515,149$92,578$3,749,542
98$4,797,112$477,880$33,168$4,058,246
99$5,221,937$436,816$0$4,396,974
100$5,688,063$391,708$0$4,771,359