Can I retire at age 72 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$92,489$91,665$90,861$90,076$89,310$86,279
2 years$45,786$44,934$44,107$43,306$42,529$39,505
3 years$30,221$29,365$28,540$27,747$26,982$24,061
4 years$22,440$21,586$20,770$19,990$19,244$16,448
5 years$17,772$16,924$16,118$15,354$14,629$11,965
6 years$14,662$13,820$13,026$12,279$11,575$9,046
7 years$12,441$11,606$10,825$10,095$9,414$7,019
8 years$10,776$9,948$9,180$8,469$7,810$5,547
9 years$9,482$8,662$7,907$7,213$6,577$4,444
10 years$8,447$7,635$6,893$6,218$5,604$3,597
11 years$7,601$6,797$6,069$5,411$4,819$2,934
12 years$6,896$6,100$5,386$4,747$4,176$2,409
13 years$6,300$5,513$4,812$4,191$3,642$1,988
14 years$5,790$5,011$4,324$3,720$3,193$1,647
15 years$5,348$4,578$3,904$3,317$2,811$1,369
16 years$4,962$4,200$3,539$2,970$2,484$1,141
17 years$4,622$3,868$3,221$2,669$2,203$953
18 years$4,319$3,574$2,940$2,405$1,959$797
19 years$4,049$3,313$2,691$2,173$1,746$668
20 years$3,807$3,078$2,470$1,968$1,559$561
21 years$3,587$2,867$2,272$1,786$1,395$471
22 years$3,388$2,677$2,094$1,624$1,251$396
23 years$3,206$2,503$1,933$1,479$1,123$333
24 years$3,040$2,345$1,788$1,349$1,009$280
25 years$2,888$2,201$1,656$1,232$908$236
26 years$2,747$2,069$1,536$1,127$818$199
27 years$2,617$1,947$1,426$1,031$737$168
28 years$2,496$1,834$1,326$945$665$141
29 years$2,384$1,731$1,234$866$601$119
30 years$2,280$1,634$1,149$795$543$101
31 years$2,182$1,545$1,071$730$491$85
32 years$2,091$1,462$1,000$671$444$72
33 years$2,006$1,384$933$617$402$61
34 years$1,925$1,312$872$568$364$51
35 years$1,850$1,245$815$523$330$43
36 years$1,779$1,181$763$481$299$36
37 years$1,712$1,122$714$444$271$31
38 years$1,648$1,066$669$409$245$26
39 years$1,588$1,014$626$377$222$22
40 years$1,531$965$587$348$202$18
41 years$1,477$918$551$321$183$16
42 years$1,426$874$516$296$166$13
43 years$1,377$833$485$273$151$11
44 years$1,331$794$455$252$137$9
45 years$1,286$757$427$233$124$8
46 years$1,244$723$401$215$113$7
47 years$1,204$689$377$199$102$6
48 years$1,166$658$354$184$93$5
49 years$1,129$629$333$170$84$4
50 years$1,094$600$313$157$77$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $1,120,000, adding $6,576 every year, while hoping to spend $33,733 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: 45/39/16 Blend
71$1,120,000$1,120,000$1,120,000$1,120,000
72$1,241,023$1,181,663$1,164,303$1,290,905
73$1,331,716$1,203,673$1,167,416$1,348,402
74$1,430,529$1,225,631$1,169,502$1,406,811
75$1,538,254$1,247,498$1,170,492$1,469,424
76$1,655,765$1,269,234$1,170,312$1,536,645
77$1,784,020$1,290,795$1,168,885$1,608,919
78$1,924,078$1,312,131$1,166,131$1,686,737
79$2,077,102$1,333,193$1,161,964$1,770,642
80$2,244,372$1,353,926$1,156,295$1,861,232
81$2,427,299$1,374,269$1,149,032$1,959,166
82$2,627,436$1,394,161$1,140,077$2,065,173
83$2,846,492$1,413,532$1,129,327$2,180,055
84$3,086,350$1,432,311$1,116,675$2,304,700
85$3,349,084$1,450,420$1,102,010$2,440,085
86$3,636,975$1,467,776$1,085,212$2,587,288
87$3,952,540$1,484,290$1,066,160$2,747,502
88$4,298,547$1,499,868$1,044,724$2,922,038
89$4,678,046$1,514,409$1,020,770$3,112,346
90$5,094,398$1,527,806$994,157$3,320,025
91$5,551,302$1,539,943$964,736$3,546,839
92$6,052,834$1,550,700$932,354$3,794,734
93$6,603,484$1,559,946$896,849$4,065,856
94$7,208,198$1,567,542$858,053$4,362,575
95$7,872,425$1,573,342$815,788$4,687,501
96$8,602,166$1,577,189$769,870$5,043,518
97$9,404,033$1,578,918$720,108$5,433,805
98$10,285,311$1,578,351$666,298$5,861,868
99$11,254,025$1,575,302$608,230$6,331,577
100$12,319,015$1,569,571$545,685$6,847,196