Can I retire at age 72 with 1,040,000?

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$85,882$85,117$84,371$83,642$82,931$81,124
2 years$42,516$41,724$40,957$40,213$39,491$37,680
3 years$28,062$27,267$26,502$25,765$25,055$23,295
4 years$20,837$20,044$19,286$18,562$17,869$16,176
5 years$16,503$15,715$14,967$14,257$13,584$11,961
6 years$13,615$12,832$12,096$11,402$10,748$9,197
7 years$11,552$10,777$10,052$9,374$8,741$7,263
8 years$10,006$9,238$8,524$7,864$7,252$5,845
9 years$8,804$8,043$7,342$6,698$6,107$4,771
10 years$7,843$7,089$6,401$5,774$5,204$3,937
11 years$7,058$6,311$5,635$5,025$4,475$3,277
12 years$6,403$5,665$5,001$4,408$3,878$2,746
13 years$5,850$5,119$4,468$3,891$3,382$2,314
14 years$5,376$4,653$4,015$3,454$2,964$1,958
15 years$4,966$4,251$3,625$3,081$2,610$1,664
16 years$4,608$3,900$3,286$2,758$2,307$1,418
17 years$4,292$3,592$2,991$2,478$2,045$1,211
18 years$4,011$3,319$2,730$2,233$1,819$1,037
19 years$3,760$3,076$2,499$2,018$1,621$889
20 years$3,535$2,858$2,294$1,828$1,448$764
21 years$3,331$2,662$2,110$1,659$1,296$657
22 years$3,146$2,485$1,944$1,508$1,161$566
23 years$2,977$2,324$1,795$1,374$1,043$488
24 years$2,823$2,178$1,660$1,253$937$421
25 years$2,681$2,044$1,538$1,144$843$364
26 years$2,551$1,921$1,426$1,046$760$314
27 years$2,430$1,808$1,324$958$685$272
28 years$2,318$1,703$1,231$877$618$235
29 years$2,214$1,607$1,146$805$558$203
30 years$2,117$1,518$1,067$738$504$176
31 years$2,027$1,435$995$678$456$152
32 years$1,942$1,357$928$623$412$132
33 years$1,862$1,286$867$573$373$114
34 years$1,788$1,218$810$527$338$99
35 years$1,718$1,156$757$485$306$86
36 years$1,652$1,097$708$447$277$74
37 years$1,589$1,042$663$412$251$64
38 years$1,530$990$621$380$228$56
39 years$1,475$941$582$350$207$48
40 years$1,422$896$545$323$187$42
41 years$1,372$853$511$298$170$36
42 years$1,324$812$480$275$154$31
43 years$1,279$774$450$254$140$27
44 years$1,236$738$422$234$127$24
45 years$1,195$703$397$216$115$21
46 years$1,155$671$372$200$105$18
47 years$1,118$640$350$185$95$15
48 years$1,082$611$329$171$86$13
49 years$1,048$584$309$158$78$12
50 years$1,015$558$291$146$71$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $1,040,000, adding $3,576 every year, while hoping to spend $29,310 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: 34/46/20 Blend
71$1,040,000$1,040,000$1,040,000$1,040,000
72$1,149,769$1,094,649$1,078,529$1,181,703
73$1,235,859$1,117,101$1,083,474$1,228,045
74$1,329,749$1,139,671$1,087,602$1,275,031
75$1,432,202$1,162,333$1,090,856$1,325,091
76$1,544,060$1,185,061$1,093,173$1,378,515
77$1,666,250$1,207,825$1,094,489$1,435,622
78$1,799,791$1,230,591$1,094,738$1,496,765
79$1,945,806$1,253,327$1,093,848$1,562,334
80$2,105,531$1,275,993$1,091,745$1,632,758
81$2,280,327$1,298,549$1,088,351$1,708,512
82$2,471,694$1,320,951$1,083,584$1,790,118
83$2,681,282$1,343,152$1,077,359$1,878,156
84$2,910,908$1,365,102$1,069,586$1,973,262
85$3,162,574$1,386,745$1,060,170$2,076,143
86$3,438,485$1,408,024$1,049,014$2,187,574
87$3,741,068$1,428,875$1,036,014$2,308,414
88$4,072,999$1,449,232$1,021,062$2,439,611
89$4,437,222$1,469,022$1,004,045$2,582,210
90$4,836,982$1,488,167$984,844$2,737,365
91$5,275,854$1,506,587$963,336$2,906,351
92$5,757,774$1,524,193$939,391$3,090,572
93$6,287,079$1,540,890$912,872$3,291,581
94$6,868,546$1,556,579$883,639$3,511,090
95$7,507,439$1,571,152$851,542$3,750,988
96$8,209,555$1,584,496$816,426$4,013,362
97$8,981,282$1,596,490$778,129$4,300,512
98$9,829,658$1,607,003$736,481$4,614,978
99$10,762,435$1,615,898$691,305$4,959,562
100$11,788,155$1,623,028$642,416$5,337,355