Can I retire at age 73 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$80,762$80,043$79,341$78,656$77,987$76,790
2 years$39,981$39,237$38,515$37,815$37,137$35,934
3 years$26,389$25,642$24,922$24,229$23,561$22,389
4 years$19,595$18,849$18,137$17,455$16,804$15,673
5 years$15,519$14,778$14,075$13,407$12,774$11,686
6 years$12,803$12,067$11,375$10,722$10,108$9,065
7 years$10,863$10,134$9,452$8,815$8,220$7,223
8 years$9,410$8,687$8,016$7,395$6,820$5,867
9 years$8,279$7,563$6,904$6,299$5,743$4,835
10 years$7,376$6,667$6,019$5,430$4,893$4,029
11 years$6,637$5,935$5,299$4,725$4,208$3,388
12 years$6,022$5,327$4,703$4,145$3,647$2,868
13 years$5,501$4,814$4,202$3,659$3,180$2,442
14 years$5,056$4,376$3,775$3,248$2,788$2,090
15 years$4,670$3,997$3,409$2,897$2,455$1,795
16 years$4,333$3,668$3,091$2,594$2,169$1,547
17 years$4,036$3,378$2,812$2,331$1,923$1,337
18 years$3,772$3,121$2,567$2,100$1,710$1,158
19 years$3,536$2,893$2,350$1,898$1,524$1,005
20 years$3,324$2,688$2,157$1,719$1,362$874
21 years$3,132$2,504$1,984$1,560$1,219$761
22 years$2,958$2,337$1,828$1,418$1,092$664
23 years$2,800$2,186$1,688$1,292$980$579
24 years$2,655$2,048$1,561$1,178$881$506
25 years$2,521$1,922$1,446$1,076$793$442
26 years$2,399$1,806$1,341$984$714$387
27 years$2,285$1,700$1,245$900$644$339
28 years$2,180$1,602$1,158$825$581$297
29 years$2,082$1,511$1,077$757$525$260
30 years$1,991$1,427$1,004$694$474$228
31 years$1,906$1,349$936$638$429$200
32 years$1,826$1,277$873$586$388$176
33 years$1,751$1,209$815$539$351$154
34 years$1,681$1,146$762$496$318$135
35 years$1,615$1,087$712$456$288$119
36 years$1,553$1,032$666$420$261$104
37 years$1,495$980$623$387$236$92
38 years$1,439$931$584$357$214$81
39 years$1,387$885$547$329$194$71
40 years$1,337$842$513$304$176$62
41 years$1,290$802$481$280$160$55
42 years$1,245$764$451$259$145$48
43 years$1,203$728$423$239$132$42
44 years$1,162$694$397$220$119$37
45 years$1,123$661$373$204$108$33
46 years$1,087$631$350$188$98$29
47 years$1,051$602$329$174$89$25
48 years$1,018$575$309$160$81$22
49 years$986$549$291$148$74$20
50 years$955$524$273$137$67$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $978,000, adding $3,343 every year, while hoping to spend $41,497 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: 48/30/22 Blend
72$978,000$978,000$978,000$978,000
73$1,081,204$1,029,370$1,014,211$1,126,213
74$1,147,335$1,035,657$1,004,035$1,164,239
75$1,218,820$1,040,861$992,127$1,201,080
76$1,296,161$1,044,885$978,385$1,240,235
77$1,379,912$1,047,627$962,703$1,281,938
78$1,470,679$1,048,976$944,970$1,326,451
79$1,569,129$1,048,818$925,068$1,374,064
80$1,675,998$1,047,027$902,875$1,425,099
81$1,792,092$1,043,473$878,263$1,479,913
82$1,918,299$1,038,017$851,099$1,538,901
83$2,055,597$1,030,512$821,242$1,602,502
84$2,205,061$1,020,800$788,547$1,671,203
85$2,367,874$1,008,715$752,859$1,745,542
86$2,545,337$994,083$714,020$1,826,116
87$2,738,883$976,715$671,862$1,913,587
88$2,950,090$956,415$626,210$2,008,686
89$3,180,693$932,973$576,882$2,112,226
90$3,432,603$906,168$523,687$2,225,103
91$3,707,924$875,765$466,425$2,348,311
92$4,008,970$841,516$404,889$2,482,950
93$4,338,293$803,158$338,860$2,630,237
94$4,698,699$760,413$268,113$2,791,518
95$5,093,281$712,988$192,409$2,968,283
96$5,525,443$660,571$111,502$3,162,177
97$5,998,933$602,834$25,132$3,375,022
98$6,517,881$539,430$0$3,608,832
99$7,086,835$469,992$0$3,881,570
100$7,710,801$394,131$0$4,187,278