Can I retire at age 73 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$82,001$81,271$80,558$79,862$79,183$78,816
2 years$40,595$39,839$39,106$38,395$37,706$37,336
3 years$26,794$26,035$25,304$24,600$23,922$23,560
4 years$19,895$19,138$18,415$17,723$17,062$16,710
5 years$15,757$15,005$14,291$13,613$12,970$12,630
6 years$12,999$12,253$11,549$10,886$10,263$9,935
7 years$11,030$10,290$9,597$8,950$8,346$8,032
8 years$9,554$8,820$8,139$7,508$6,924$6,622
9 years$8,406$7,680$7,010$6,395$5,831$5,541
10 years$7,489$6,769$6,112$5,513$4,968$4,691
11 years$6,739$6,026$5,381$4,798$4,273$4,007
12 years$6,114$5,409$4,775$4,208$3,703$3,449
13 years$5,586$4,888$4,266$3,715$3,229$2,987
14 years$5,133$4,443$3,833$3,298$2,831$2,600
15 years$4,742$4,059$3,461$2,941$2,492$2,273
16 years$4,399$3,724$3,138$2,634$2,203$1,994
17 years$4,098$3,429$2,855$2,366$1,953$1,755
18 years$3,830$3,169$2,607$2,132$1,737$1,548
19 years$3,590$2,937$2,386$1,927$1,548$1,369
20 years$3,375$2,729$2,190$1,745$1,383$1,214
21 years$3,180$2,542$2,014$1,584$1,237$1,077
22 years$3,004$2,373$1,857$1,440$1,109$958
23 years$2,843$2,219$1,714$1,312$995$853
24 years$2,695$2,079$1,585$1,196$895$760
25 years$2,560$1,951$1,468$1,092$805$678
26 years$2,435$1,834$1,362$999$725$606
27 years$2,320$1,726$1,265$914$654$542
28 years$2,213$1,626$1,176$838$590$485
29 years$2,114$1,534$1,094$768$533$434
30 years$2,021$1,449$1,019$705$481$388
31 years$1,935$1,370$950$647$435$348
32 years$1,854$1,296$886$595$394$312
33 years$1,778$1,227$828$547$356$280
34 years$1,707$1,163$773$503$323$251
35 years$1,640$1,103$723$463$292$225
36 years$1,577$1,047$676$427$265$202
37 years$1,518$995$633$393$240$182
38 years$1,461$945$593$362$218$163
39 years$1,408$899$555$334$197$147
40 years$1,358$855$521$308$179$132
41 years$1,310$814$488$284$162$118
42 years$1,264$775$458$262$147$106
43 years$1,221$739$430$242$134$96
44 years$1,180$704$403$224$121$86
45 years$1,141$671$379$207$110$77
46 years$1,103$641$356$191$100$70
47 years$1,067$611$334$176$91$63
48 years$1,033$584$314$163$82$56
49 years$1,001$557$295$151$75$51
50 years$970$532$277$139$68$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $993,000, adding $4,070 every year, while hoping to spend $48,206 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: 68/11/21 Blend
72$993,000$993,000$993,000$993,000
73$1,098,484$1,045,855$1,030,464$1,167,145
74$1,159,239$1,045,811$1,013,693$1,213,565
75$1,224,575$1,044,150$994,746$1,258,353
76$1,294,908$1,040,740$973,497$1,306,190
77$1,370,697$1,035,444$949,817$1,357,373
78$1,452,443$1,028,116$923,570$1,412,233
79$1,540,697$1,018,599$894,616$1,471,135
80$1,636,068$1,006,729$862,804$1,534,482
81$1,739,219$992,332$827,981$1,602,719
82$1,850,885$975,222$789,984$1,676,340
83$1,971,870$955,202$748,643$1,755,889
84$2,103,060$932,066$703,782$1,841,966
85$2,245,428$905,593$655,214$1,935,235
86$2,400,045$875,551$602,747$2,036,431
87$2,568,089$841,692$546,178$2,146,364
88$2,750,855$803,756$485,297$2,265,928
89$2,949,770$761,467$419,881$2,396,114
90$3,166,400$714,533$349,702$2,538,011
91$3,402,474$662,646$274,517$2,692,827
92$3,659,890$605,479$194,077$2,861,893
93$3,940,738$542,687$108,118$3,046,679
94$4,247,321$473,906$16,367$3,248,809
95$4,582,170$398,751$0$3,470,073
96$4,948,076$316,814$0$3,730,723
97$5,348,107$227,665$0$4,019,771
98$5,785,645$130,851$0$4,336,027
99$6,264,410$25,893$0$4,682,223
100$6,788,501$0$0$5,061,372