Can I retire at age 72 with 589,000?

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 $589,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$48,639$48,206$47,783$47,371$46,968$46,691
2 years$24,079$23,630$23,196$22,774$22,366$22,087
3 years$15,893$15,443$15,009$14,592$14,190$13,917
4 years$11,801$11,352$10,923$10,513$10,120$9,856
5 years$9,346$8,900$8,477$8,075$7,693$7,438
6 years$7,711$7,268$6,850$6,457$6,087$5,841
7 years$6,543$6,103$5,693$5,309$4,951$4,714
8 years$5,667$5,232$4,828$4,454$4,107$3,880
9 years$4,986$4,555$4,158$3,793$3,459$3,241
10 years$4,442$4,015$3,625$3,270$2,947$2,739
11 years$3,997$3,574$3,192$2,846$2,535$2,336
12 years$3,627$3,208$2,832$2,496$2,196$2,007
13 years$3,313$2,899$2,531$2,204$1,915$1,734
14 years$3,045$2,635$2,274$1,956$1,679$1,507
15 years$2,813$2,407$2,053$1,745$1,478$1,314
16 years$2,609$2,209$1,861$1,562$1,306$1,151
17 years$2,430$2,034$1,694$1,404$1,158$1,011
18 years$2,272$1,880$1,546$1,265$1,030$890
19 years$2,130$1,742$1,415$1,143$918$785
20 years$2,002$1,619$1,299$1,035$820$695
21 years$1,886$1,508$1,195$939$734$615
22 years$1,782$1,408$1,101$854$658$546
23 years$1,686$1,316$1,017$778$590$485
24 years$1,599$1,233$940$710$531$431
25 years$1,519$1,158$871$648$478$384
26 years$1,445$1,088$808$592$430$342
27 years$1,376$1,024$750$542$388$305
28 years$1,313$965$697$497$350$272
29 years$1,254$910$649$456$316$243
30 years$1,199$860$604$418$286$217
31 years$1,148$813$563$384$258$194
32 years$1,100$769$526$353$234$174
33 years$1,055$728$491$325$211$155
34 years$1,013$690$459$299$191$139
35 years$973$655$429$275$173$125
36 years$935$621$401$253$157$112
37 years$900$590$375$233$142$100
38 years$867$561$352$215$129$89
39 years$835$533$329$198$117$80
40 years$805$507$309$183$106$72
41 years$777$483$290$169$96$64
42 years$750$460$272$156$87$58
43 years$724$438$255$144$79$52
44 years$700$418$239$133$72$46
45 years$677$398$225$123$65$42
46 years$654$380$211$113$59$37
47 years$633$363$198$105$54$34
48 years$613$346$186$97$49$30
49 years$594$331$175$89$44$27
50 years$575$316$165$83$40$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $589,000, adding $3,174 every year, while hoping to spend $27,369 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: 54/37/9 Blend
71$589,000$589,000$589,000$589,000
72$652,352$621,135$612,005$685,959
73$689,771$622,450$603,387$710,405
74$730,090$622,913$593,563$733,733
75$773,576$622,451$582,464$758,471
76$820,521$620,992$570,016$784,757
77$871,247$618,454$556,145$812,745
78$926,109$614,753$540,771$842,605
79$985,496$609,799$523,811$874,526
80$1,049,836$603,498$505,177$908,719
81$1,119,598$595,749$484,780$945,415
82$1,195,301$586,444$462,523$984,872
83$1,277,512$575,471$438,309$1,027,376
84$1,366,859$562,709$412,032$1,073,242
85$1,464,028$548,032$383,585$1,122,821
86$1,569,778$531,304$352,854$1,176,501
87$1,684,942$512,384$319,721$1,234,712
88$1,810,436$491,121$284,062$1,297,930
89$1,947,270$467,356$245,747$1,366,680
90$2,096,554$440,919$204,643$1,441,547
91$2,259,511$411,633$160,607$1,523,175
92$2,437,487$379,308$113,493$1,612,279
93$2,631,963$343,747$63,147$1,709,648
94$2,844,569$304,737$9,409$1,816,156
95$3,077,102$262,056$0$1,932,771
96$3,331,539$215,469$0$2,065,164
97$3,610,056$164,727$0$2,211,178
98$3,915,051$109,568$0$2,371,233
99$4,249,164$49,714$0$2,546,793
100$4,615,301$0$0$2,739,473