Can I retire at age 73 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$57,640$57,127$56,626$56,137$55,660$55,239
2 years$28,535$28,003$27,488$26,989$26,505$26,081
3 years$18,834$18,300$17,787$17,292$16,816$16,402
4 years$13,985$13,453$12,944$12,458$11,993$11,592
5 years$11,076$10,547$10,045$9,569$9,117$8,730
6 years$9,137$8,613$8,118$7,652$7,214$6,841
7 years$7,753$7,233$6,746$6,291$5,867$5,509
8 years$6,716$6,200$5,721$5,278$4,867$4,524
9 years$5,909$5,398$4,928$4,495$4,099$3,770
10 years$5,264$4,758$4,296$3,875$3,492$3,178
11 years$4,737$4,236$3,782$3,373$3,004$2,704
12 years$4,298$3,802$3,357$2,958$2,603$2,317
13 years$3,926$3,436$2,999$2,612$2,270$1,997
14 years$3,608$3,123$2,695$2,318$1,990$1,731
15 years$3,333$2,853$2,433$2,067$1,752$1,506
16 years$3,092$2,618$2,206$1,851$1,548$1,315
17 years$2,880$2,411$2,007$1,663$1,373$1,152
18 years$2,692$2,228$1,832$1,499$1,221$1,011
19 years$2,524$2,064$1,677$1,354$1,088$890
20 years$2,372$1,918$1,539$1,227$972$785
21 years$2,236$1,787$1,416$1,113$870$693
22 years$2,111$1,668$1,305$1,012$780$613
23 years$1,998$1,560$1,205$922$700$543
24 years$1,895$1,462$1,114$841$629$481
25 years$1,800$1,372$1,032$768$566$427
26 years$1,712$1,289$957$702$510$380
27 years$1,631$1,213$889$643$460$337
28 years$1,556$1,143$826$589$415$300
29 years$1,486$1,079$769$540$374$267
30 years$1,421$1,019$716$496$338$238
31 years$1,360$963$668$455$306$212
32 years$1,303$911$623$418$277$189
33 years$1,250$863$582$385$250$169
34 years$1,200$818$544$354$227$150
35 years$1,153$776$508$326$205$134
36 years$1,109$736$475$300$186$120
37 years$1,067$699$445$276$169$107
38 years$1,027$664$417$255$153$95
39 years$990$632$390$235$139$85
40 years$954$601$366$217$126$76
41 years$921$572$343$200$114$68
42 years$889$545$322$185$104$61
43 years$858$519$302$170$94$54
44 years$829$495$283$157$85$49
45 years$802$472$266$145$77$43
46 years$775$450$250$134$70$39
47 years$750$430$235$124$64$35
48 years$726$410$221$115$58$31
49 years$703$392$207$106$53$28
50 years$681$374$195$98$48$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $698,000, adding $3,322 every year, while hoping to spend $23,114 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: 59/25/16 Blend
72$698,000$698,000$698,000$698,000
73$772,623$735,629$724,810$814,850
74$826,837$747,081$724,498$855,231
75$885,807$758,321$723,401$896,398
76$949,992$769,311$721,468$940,755
77$1,019,900$780,016$718,646$988,613
78$1,096,088$790,396$714,879$1,040,314
79$1,179,171$800,407$710,109$1,096,238
80$1,269,824$810,004$704,275$1,156,801
81$1,368,789$819,138$697,312$1,222,463
82$1,476,887$827,757$689,153$1,293,732
83$1,595,018$835,806$679,728$1,371,168
84$1,724,175$843,225$668,963$1,455,388
85$1,865,449$849,951$656,782$1,547,073
86$2,020,043$855,917$643,102$1,646,975
87$2,189,282$861,051$627,841$1,755,921
88$2,374,623$865,277$610,908$1,874,825
89$2,577,674$868,515$592,213$2,004,695
90$2,800,202$870,678$571,658$2,146,642
91$3,044,156$871,674$549,141$2,301,893
92$3,311,681$871,407$524,558$2,471,799
93$3,605,139$869,773$497,798$2,657,852
94$3,927,133$866,662$468,744$2,861,695
95$4,280,531$861,958$437,277$3,085,142
96$4,668,489$855,538$403,270$3,330,193
97$5,094,486$847,271$366,591$3,599,053
98$5,562,354$837,018$327,102$3,894,156
99$6,076,314$824,631$284,659$4,218,183
100$6,641,015$809,956$239,113$4,574,091