Can I retire at age 72 with 1,220,000?

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 $1,220,000?

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 years$100,746$99,849$98,974$98,119$97,285$96,875
2 years$49,874$48,946$48,045$47,173$46,326$45,912
3 years$32,919$31,987$31,089$30,224$29,391$28,986
4 years$24,443$23,513$22,625$21,775$20,962$20,569
5 years$19,359$18,435$17,558$16,725$15,935$15,555
6 years$15,971$15,053$14,189$13,375$12,609$12,243
7 years$13,552$12,642$11,791$10,996$10,254$9,902
8 years$11,738$10,836$10,000$9,225$8,507$8,169
9 years$10,328$9,435$8,613$7,857$7,164$6,840
10 years$9,201$8,317$7,509$6,773$6,104$5,793
11 years$8,279$7,404$6,611$5,895$5,250$4,952
12 years$7,512$6,645$5,867$5,170$4,549$4,265
13 years$6,863$6,005$5,242$4,565$3,967$3,696
14 years$6,307$5,459$4,710$4,052$3,478$3,219
15 years$5,826$4,987$4,252$3,614$3,062$2,816
16 years$5,405$4,575$3,855$3,236$2,706$2,472
17 years$5,034$4,213$3,508$2,907$2,399$2,177
18 years$4,705$3,893$3,202$2,620$2,133$1,922
19 years$4,411$3,608$2,932$2,367$1,902$1,701
20 years$4,146$3,353$2,691$2,144$1,699$1,509
21 years$3,907$3,123$2,475$1,946$1,520$1,341
22 years$3,690$2,915$2,281$1,769$1,362$1,193
23 years$3,493$2,727$2,106$1,611$1,223$1,063
24 years$3,312$2,555$1,948$1,470$1,099$948
25 years$3,145$2,398$1,804$1,342$989$847
26 years$2,992$2,253$1,673$1,227$891$757
27 years$2,850$2,121$1,554$1,123$803$677
28 years$2,719$1,998$1,444$1,029$725$606
29 years$2,597$1,885$1,344$944$655$543
30 years$2,483$1,780$1,252$866$591$487
31 years$2,377$1,683$1,167$795$535$437
32 years$2,278$1,592$1,089$731$484$392
33 years$2,185$1,508$1,017$672$438$352
34 years$2,097$1,429$950$619$396$316
35 years$2,015$1,356$888$569$359$284
36 years$1,938$1,287$831$524$325$255
37 years$1,864$1,222$778$483$295$229
38 years$1,795$1,161$728$445$267$206
39 years$1,730$1,104$682$411$242$185
40 years$1,668$1,051$640$379$220$167
41 years$1,609$1,000$600$349$199$150
42 years$1,553$953$563$323$181$135
43 years$1,500$908$528$298$164$121
44 years$1,450$865$495$275$149$109
45 years$1,401$825$465$254$135$98
46 years$1,355$787$437$234$123$88
47 years$1,312$751$411$217$112$80
48 years$1,270$717$386$200$101$72
49 years$1,230$685$363$185$92$64
50 years$1,191$654$341$171$84$58

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $1,220,000, adding $2,476 every year, while hoping to spend $28,613 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: 51/33/16 Blend
71$1,220,000$1,220,000$1,220,000$1,220,000
72$1,346,994$1,282,334$1,263,424$1,409,675
73$1,453,943$1,314,724$1,275,305$1,485,387
74$1,570,843$1,347,743$1,286,624$1,564,459
75$1,698,676$1,381,390$1,297,334$1,649,795
76$1,838,529$1,415,666$1,307,382$1,741,997
77$1,991,594$1,450,568$1,316,715$1,841,725
78$2,159,186$1,486,095$1,325,274$1,949,709
79$2,342,752$1,522,243$1,333,000$2,066,750
80$2,543,887$1,559,008$1,339,830$2,193,733
81$2,764,346$1,596,382$1,345,697$2,331,632
82$3,006,063$1,634,358$1,350,532$2,481,518
83$3,271,168$1,672,928$1,354,260$2,644,573
84$3,562,005$1,712,080$1,356,806$2,822,100
85$3,881,159$1,751,801$1,358,089$3,015,533
86$4,231,476$1,792,078$1,358,023$3,226,451
87$4,616,089$1,832,892$1,356,520$3,456,598
88$5,038,453$1,874,227$1,353,486$3,707,890
89$5,502,370$1,916,059$1,348,823$3,982,444
90$6,012,032$1,958,366$1,342,429$4,282,588
91$6,572,055$2,001,122$1,334,196$4,610,891
92$7,187,525$2,044,296$1,324,011$4,970,182
93$7,864,043$2,087,858$1,311,756$5,363,579
94$8,607,783$2,131,770$1,297,307$5,794,519
95$9,425,545$2,175,996$1,280,536$6,266,789
96$10,324,822$2,220,490$1,261,304$6,784,562
97$11,313,868$2,265,208$1,239,472$7,352,440
98$12,401,777$2,310,099$1,214,890$7,975,490
99$13,598,572$2,355,107$1,187,401$8,659,300
100$14,915,291$2,400,172$1,156,844$9,410,028