Can I retire at age 72 with 1,010,000?

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$83,405$82,662$81,937$81,230$80,539$78,977
2 years$41,290$40,521$39,775$39,053$38,352$36,785
3 years$27,253$26,481$25,737$25,021$24,332$22,809
4 years$20,236$19,466$18,730$18,027$17,354$15,886
5 years$16,027$15,262$14,535$13,846$13,192$11,783
6 years$13,222$12,462$11,747$11,073$10,438$9,091
7 years$11,219$10,466$9,762$9,104$8,489$7,203
8 years$9,717$8,971$8,279$7,637$7,043$5,817
9 years$8,550$7,811$7,130$6,505$5,931$4,766
10 years$7,617$6,885$6,216$5,607$5,053$3,947
11 years$6,854$6,129$5,473$4,880$4,346$3,298
12 years$6,219$5,501$4,857$4,280$3,766$2,774
13 years$5,681$4,972$4,339$3,779$3,284$2,347
14 years$5,221$4,519$3,899$3,355$2,879$1,994
15 years$4,823$4,128$3,520$2,992$2,535$1,701
16 years$4,475$3,788$3,192$2,679$2,240$1,456
17 years$4,168$3,488$2,904$2,407$1,986$1,249
18 years$3,895$3,223$2,651$2,169$1,766$1,074
19 years$3,652$2,987$2,427$1,960$1,574$926
20 years$3,433$2,776$2,227$1,775$1,406$799
21 years$3,235$2,586$2,049$1,611$1,258$690
22 years$3,055$2,414$1,888$1,465$1,128$597
23 years$2,891$2,257$1,743$1,334$1,013$517
24 years$2,742$2,115$1,612$1,217$910$448
25 years$2,604$1,985$1,493$1,111$819$389
26 years$2,477$1,865$1,385$1,016$738$338
27 years$2,360$1,756$1,286$930$665$293
28 years$2,251$1,654$1,196$852$600$255
29 years$2,150$1,561$1,113$781$542$222
30 years$2,056$1,474$1,036$717$490$193
31 years$1,968$1,393$966$659$443$168
32 years$1,886$1,318$901$605$400$146
33 years$1,809$1,248$842$557$362$127
34 years$1,736$1,183$786$512$328$111
35 years$1,668$1,122$735$471$297$96
36 years$1,604$1,065$688$434$269$84
37 years$1,544$1,012$644$400$244$73
38 years$1,486$962$603$369$221$64
39 years$1,432$914$565$340$201$55
40 years$1,381$870$529$314$182$48
41 years$1,332$828$496$289$165$42
42 years$1,286$789$466$267$150$37
43 years$1,242$751$437$246$136$32
44 years$1,200$716$410$228$123$28
45 years$1,160$683$385$210$112$24
46 years$1,122$652$362$194$102$21
47 years$1,086$622$340$179$92$18
48 years$1,051$594$319$166$84$16
49 years$1,018$567$300$153$76$14
50 years$986$541$282$142$69$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $1,010,000, adding $3,030 every year, while hoping to spend $37,885 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: 64/12/24 Blend
71$1,010,000$1,010,000$1,010,000$1,010,000
72$1,116,145$1,062,615$1,046,960$1,180,398
73$1,189,683$1,074,374$1,041,724$1,235,884
74$1,269,452$1,085,440$1,035,043$1,291,979
75$1,356,047$1,095,737$1,026,828$1,352,415
76$1,450,124$1,105,188$1,016,987$1,417,622
77$1,552,403$1,113,709$1,005,423$1,488,072
78$1,663,677$1,121,210$992,033$1,564,288
79$1,784,819$1,127,596$976,713$1,646,848
80$1,916,787$1,132,765$959,350$1,736,388
81$2,060,639$1,136,610$939,827$1,833,610
82$2,217,536$1,139,016$918,024$1,939,290
83$2,388,758$1,139,861$893,811$2,054,283
84$2,575,714$1,139,017$867,056$2,179,534
85$2,779,952$1,136,344$837,618$2,316,083
86$3,003,181$1,131,699$805,352$2,465,080
87$3,247,280$1,124,926$770,105$2,627,792
88$3,514,315$1,115,861$731,717$2,805,620
89$3,806,567$1,104,330$690,021$3,000,105
90$4,126,543$1,090,148$644,843$3,212,952
91$4,477,005$1,073,120$596,000$3,446,037
92$4,860,995$1,053,038$543,301$3,701,435
93$5,281,864$1,029,684$486,549$3,981,429
94$5,743,299$1,002,824$425,534$4,288,542
95$6,249,366$972,213$360,040$4,625,556
96$6,804,540$937,589$289,839$4,995,536
97$7,413,750$898,678$214,696$5,401,869
98$8,082,426$855,188$134,362$5,848,284
99$8,816,551$806,809$48,580$6,338,898
100$9,622,712$753,216$0$6,878,251