Can I retire at age 73 with 702,000?

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 $702,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$57,971$57,454$56,950$56,459$55,978$54,035
2 years$28,698$28,164$27,646$27,144$26,656$24,719
3 years$18,942$18,405$17,889$17,391$16,912$15,041
4 years$14,065$13,530$13,018$12,529$12,062$10,271
5 years$11,140$10,608$10,103$9,624$9,169$7,464
6 years$9,190$8,662$8,165$7,696$7,255$5,637
7 years$7,798$7,274$6,785$6,327$5,900$4,369
8 years$6,754$6,235$5,754$5,308$4,895$3,448
9 years$5,943$5,429$4,956$4,521$4,122$2,759
10 years$5,294$4,785$4,321$3,897$3,512$2,230
11 years$4,764$4,260$3,804$3,392$3,021$1,817
12 years$4,322$3,824$3,376$2,975$2,618$1,490
13 years$3,949$3,456$3,016$2,627$2,283$1,228
14 years$3,629$3,141$2,710$2,332$2,001$1,016
15 years$3,352$2,869$2,447$2,079$1,762$843
16 years$3,110$2,633$2,218$1,862$1,557$702
17 years$2,897$2,424$2,019$1,673$1,381$585
18 years$2,707$2,240$1,843$1,508$1,228$489
19 years$2,538$2,076$1,687$1,362$1,094$409
20 years$2,386$1,929$1,548$1,234$977$343
21 years$2,248$1,797$1,424$1,120$875$288
22 years$2,124$1,678$1,312$1,018$784$241
23 years$2,010$1,569$1,212$927$704$203
24 years$1,906$1,470$1,121$846$633$170
25 years$1,810$1,380$1,038$772$569$143
26 years$1,722$1,297$963$706$513$121
27 years$1,640$1,220$894$646$462$101
28 years$1,565$1,150$831$592$417$85
29 years$1,494$1,085$773$543$377$72
30 years$1,429$1,024$720$498$340$61
31 years$1,368$968$672$458$308$51
32 years$1,311$916$627$421$278$43
33 years$1,257$868$585$387$252$36
34 years$1,207$822$547$356$228$31
35 years$1,160$780$511$328$207$26
36 years$1,115$740$478$302$187$22
37 years$1,073$703$447$278$170$18
38 years$1,033$668$419$256$154$15
39 years$995$635$393$236$139$13
40 years$960$605$368$218$126$11
41 years$926$576$345$201$115$9
42 years$894$548$324$186$104$8
43 years$863$522$304$171$94$7
44 years$834$498$285$158$86$6
45 years$806$475$268$146$78$5
46 years$780$453$251$135$71$4
47 years$755$432$236$125$64$3
48 years$731$413$222$115$58$3
49 years$707$394$209$106$53$2
50 years$685$376$196$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $702,000, adding $5,166 every year, while hoping to spend $53,349 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: 74/14/12 Blend
72$702,000$702,000$702,000$702,000
73$778,933$741,727$730,846$834,313
74$801,621$721,308$698,566$851,175
75$824,835$698,102$663,417$862,493
76$848,573$671,913$625,246$873,430
77$872,830$642,539$583,894$883,933
78$897,598$609,764$539,195$893,944
79$922,869$573,358$490,973$903,399
80$948,630$533,080$439,049$912,232
81$974,864$488,675$383,231$920,368
82$1,001,552$439,872$323,321$927,726
83$1,028,671$386,387$259,113$934,221
84$1,056,193$327,917$190,391$939,759
85$1,084,084$264,144$116,928$944,237
86$1,112,304$194,731$38,489$947,546
87$1,140,809$119,322$0$949,565
88$1,169,545$37,543$0$955,954
89$1,198,452$0$0$966,419
90$1,227,461$0$0$983,766
91$1,256,491$0$0$1,006,898
92$1,285,454$0$0$1,029,957
93$1,314,245$0$0$1,052,860
94$1,342,751$0$0$1,075,510
95$1,370,838$0$0$1,097,802
96$1,398,362$0$0$1,119,614
97$1,425,155$0$0$1,140,811
98$1,451,032$0$0$1,161,240
99$1,475,785$0$0$1,180,731
100$1,499,181$0$0$1,199,093