Can I retire at age 73 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$81,175$80,452$79,747$79,058$78,386$77,762
2 years$40,186$39,437$38,712$38,009$37,327$36,697
3 years$26,524$25,773$25,049$24,353$23,682$23,067
4 years$19,695$18,946$18,229$17,545$16,890$16,294
5 years$15,599$14,854$14,147$13,476$12,839$12,265
6 years$12,868$12,129$11,433$10,777$10,159$9,606
7 years$10,919$10,186$9,501$8,860$8,262$7,731
8 years$9,458$8,731$8,057$7,433$6,854$6,345
9 years$8,322$7,602$6,940$6,331$5,772$5,285
10 years$7,413$6,701$6,050$5,457$4,918$4,453
11 years$6,671$5,965$5,327$4,750$4,230$3,785
12 years$6,052$5,354$4,727$4,166$3,666$3,242
13 years$5,530$4,839$4,223$3,678$3,196$2,793
14 years$5,082$4,398$3,795$3,265$2,802$2,418
15 years$4,694$4,018$3,426$2,912$2,467$2,103
16 years$4,355$3,686$3,106$2,607$2,180$1,835
17 years$4,056$3,395$2,827$2,342$1,933$1,606
18 years$3,791$3,137$2,580$2,111$1,719$1,409
19 years$3,554$2,907$2,362$1,907$1,532$1,239
20 years$3,341$2,702$2,168$1,728$1,369$1,092
21 years$3,148$2,517$1,994$1,568$1,225$964
22 years$2,974$2,349$1,838$1,426$1,098$852
23 years$2,814$2,197$1,697$1,298$985$754
24 years$2,668$2,059$1,569$1,184$886$668
25 years$2,534$1,932$1,454$1,081$797$592
26 years$2,411$1,816$1,348$989$718$526
27 years$2,297$1,709$1,252$905$647$467
28 years$2,191$1,610$1,164$829$584$415
29 years$2,093$1,519$1,083$760$527$369
30 years$2,001$1,434$1,009$698$477$329
31 years$1,915$1,356$940$641$431$292
32 years$1,835$1,283$877$589$390$260
33 years$1,760$1,215$819$542$353$232
34 years$1,690$1,152$765$498$319$207
35 years$1,624$1,092$716$459$289$184
36 years$1,561$1,037$669$423$262$164
37 years$1,502$985$627$389$238$147
38 years$1,447$936$587$359$215$131
39 years$1,394$890$550$331$195$117
40 years$1,344$847$515$305$177$104
41 years$1,297$806$483$282$161$93
42 years$1,252$768$453$260$146$83
43 years$1,209$731$425$240$132$74
44 years$1,168$697$399$221$120$66
45 years$1,129$665$375$205$109$59
46 years$1,092$634$352$189$99$53
47 years$1,057$605$331$175$90$47
48 years$1,023$578$311$161$82$42
49 years$991$552$292$149$74$38
50 years$960$527$275$138$67$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $983,000, adding $5,439 every year, while hoping to spend $20,573 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: 42/36/22 Blend
72$983,000$983,000$983,000$983,000
73$1,088,876$1,036,777$1,021,541$1,127,391
74$1,178,052$1,065,690$1,033,873$1,184,254
75$1,275,634$1,095,330$1,045,929$1,243,400
76$1,382,459$1,125,711$1,057,677$1,307,035
77$1,499,446$1,156,846$1,069,085$1,375,583
78$1,627,609$1,188,751$1,080,119$1,449,510
79$1,768,063$1,221,439$1,090,742$1,529,331
80$1,922,040$1,254,923$1,100,915$1,615,610
81$2,090,891$1,289,217$1,110,599$1,708,970
82$2,276,108$1,324,335$1,119,750$1,810,097
83$2,479,333$1,360,290$1,128,324$1,919,745
84$2,702,376$1,397,095$1,136,274$2,038,747
85$2,947,230$1,434,764$1,143,550$2,168,018
86$3,216,088$1,473,308$1,150,100$2,308,568
87$3,511,370$1,512,741$1,155,869$2,461,507
88$3,835,738$1,553,074$1,160,800$2,628,060
89$4,192,128$1,594,319$1,164,831$2,809,575
90$4,583,771$1,636,487$1,167,899$3,007,540
91$5,014,229$1,679,588$1,169,937$3,223,590
92$5,487,426$1,723,634$1,170,875$3,459,531
93$6,007,684$1,768,632$1,170,640$3,717,349
94$6,579,765$1,814,593$1,169,154$3,999,234
95$7,208,917$1,861,523$1,166,336$4,307,599
96$7,900,919$1,909,431$1,162,101$4,645,104
97$8,662,142$1,958,322$1,156,361$5,014,679
98$9,499,602$2,008,201$1,149,020$5,419,552
99$10,421,031$2,059,073$1,139,982$5,863,281
100$11,434,949$2,110,940$1,129,145$6,349,788