Can I retire at age 73 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$81,340$80,616$79,909$79,219$78,545$77,372
2 years$40,268$39,518$38,791$38,086$37,403$36,223
3 years$26,578$25,825$25,100$24,402$23,730$22,580
4 years$19,735$18,984$18,267$17,580$16,924$15,814
5 years$15,630$14,884$14,176$13,503$12,866$11,798
6 years$12,895$12,154$11,456$10,799$10,180$9,157
7 years$10,941$10,207$9,520$8,878$8,279$7,300
8 years$9,477$8,749$8,074$7,448$6,868$5,933
9 years$8,339$7,618$6,954$6,344$5,784$4,893
10 years$7,429$6,715$6,063$5,468$4,928$4,080
11 years$6,684$5,978$5,337$4,759$4,239$3,432
12 years$6,065$5,365$4,737$4,174$3,673$2,908
13 years$5,541$4,849$4,232$3,685$3,203$2,478
14 years$5,092$4,407$3,802$3,271$2,808$2,121
15 years$4,704$4,026$3,433$2,918$2,472$1,823
16 years$4,364$3,694$3,113$2,612$2,185$1,572
17 years$4,065$3,402$2,832$2,347$1,937$1,360
18 years$3,799$3,143$2,586$2,115$1,723$1,179
19 years$3,561$2,913$2,367$1,911$1,535$1,024
20 years$3,348$2,707$2,172$1,731$1,371$891
21 years$3,155$2,522$1,998$1,571$1,227$776
22 years$2,980$2,354$1,842$1,428$1,100$677
23 years$2,820$2,202$1,700$1,301$987$592
24 years$2,674$2,063$1,573$1,187$888$517
25 years$2,539$1,936$1,456$1,084$799$453
26 years$2,416$1,819$1,351$991$719$397
27 years$2,301$1,712$1,254$907$649$348
28 years$2,195$1,613$1,166$831$585$305
29 years$2,097$1,522$1,085$762$528$267
30 years$2,005$1,437$1,011$699$477$235
31 years$1,919$1,359$942$642$432$206
32 years$1,839$1,286$879$590$391$181
33 years$1,764$1,218$821$543$353$159
34 years$1,693$1,154$767$499$320$140
35 years$1,627$1,095$717$460$290$123
36 years$1,564$1,039$671$423$263$108
37 years$1,505$987$628$390$238$95
38 years$1,450$938$588$360$216$83
39 years$1,397$892$551$332$196$73
40 years$1,347$848$516$306$177$65
41 years$1,299$808$484$282$161$57
42 years$1,254$769$454$260$146$50
43 years$1,211$733$426$240$133$44
44 years$1,170$698$400$222$120$39
45 years$1,131$666$376$205$109$34
46 years$1,094$635$353$189$99$30
47 years$1,059$606$331$175$90$26
48 years$1,025$579$311$162$82$23
49 years$993$553$293$149$74$20
50 years$962$528$275$138$67$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $985,000, adding $4,593 every year, while hoping to spend $59,107 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: 46/42/12 Blend
72$985,000$985,000$985,000$985,000
73$1,090,208$1,038,003$1,022,735$1,136,472
74$1,138,519$1,025,975$994,107$1,156,950
75$1,189,778$1,011,378$962,540$1,172,729
76$1,244,222$994,022$927,871$1,188,527
77$1,302,111$973,707$889,933$1,204,368
78$1,363,730$950,223$848,550$1,220,280
79$1,429,392$923,345$803,538$1,236,302
80$1,499,438$892,837$754,705$1,252,478
81$1,574,243$858,448$701,849$1,268,862
82$1,654,217$819,913$644,762$1,285,521
83$1,739,808$776,951$583,223$1,302,530
84$1,831,512$729,264$517,004$1,319,981
85$1,929,868$676,540$445,865$1,337,981
86$2,035,469$618,446$369,557$1,356,653
87$2,148,968$554,630$287,818$1,376,141
88$2,271,079$484,723$200,376$1,396,609
89$2,402,588$408,333$106,947$1,418,249
90$2,544,355$325,045$7,234$1,441,278
91$2,697,329$234,422$0$1,465,945
92$2,862,550$136,002$0$1,505,234
93$3,041,162$29,298$0$1,548,582
94$3,234,420$0$0$1,595,472
95$3,443,708$0$0$1,686,207
96$3,670,543$0$0$1,799,321
97$3,916,596$0$0$1,922,118
98$4,183,704$0$0$2,055,527
99$4,473,887$0$0$2,200,570
100$4,789,366$0$0$2,358,372