Can I retire at age 72 with 623,000?

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 $623,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$51,447$50,988$50,541$50,105$49,679$48,957
2 years$25,469$24,994$24,535$24,089$23,657$22,931
3 years$16,810$16,334$15,876$15,434$15,009$14,301
4 years$12,482$12,007$11,553$11,119$10,704$10,021
5 years$9,886$9,414$8,966$8,541$8,137$7,480
6 years$8,156$7,687$7,246$6,830$6,439$5,809
7 years$6,920$6,456$6,021$5,615$5,236$4,633
8 years$5,994$5,534$5,106$4,711$4,344$3,768
9 years$5,274$4,818$4,398$4,012$3,658$3,109
10 years$4,698$4,247$3,834$3,459$3,117$2,594
11 years$4,228$3,781$3,376$3,010$2,681$2,184
12 years$3,836$3,393$2,996$2,640$2,323$1,851
13 years$3,504$3,067$2,677$2,331$2,026$1,578
14 years$3,221$2,787$2,405$2,069$1,776$1,352
15 years$2,975$2,546$2,171$1,845$1,564$1,163
16 years$2,760$2,336$1,969$1,652$1,382$1,004
17 years$2,571$2,152$1,791$1,485$1,225$869
18 years$2,403$1,988$1,635$1,338$1,089$754
19 years$2,252$1,843$1,497$1,209$971$655
20 years$2,117$1,712$1,374$1,095$867$570
21 years$1,995$1,595$1,264$994$776$497
22 years$1,885$1,489$1,165$903$696$434
23 years$1,784$1,392$1,075$823$625$380
24 years$1,691$1,305$995$750$561$332
25 years$1,606$1,224$921$685$505$291
26 years$1,528$1,151$854$627$455$255
27 years$1,456$1,083$793$574$410$224
28 years$1,389$1,020$738$526$370$196
29 years$1,326$963$686$482$334$172
30 years$1,268$909$639$442$302$151
31 years$1,214$859$596$406$273$133
32 years$1,163$813$556$373$247$117
33 years$1,116$770$519$343$224$103
34 years$1,071$730$485$316$202$90
35 years$1,029$692$454$291$183$80
36 years$989$657$424$268$166$70
37 years$952$624$397$247$151$62
38 years$917$593$372$227$136$54
39 years$883$564$348$210$124$48
40 years$852$537$327$193$112$42
41 years$822$511$306$178$102$37
42 years$793$486$287$165$92$33
43 years$766$463$270$152$84$29
44 years$740$442$253$140$76$25
45 years$716$421$238$130$69$22
46 years$692$402$223$120$63$20
47 years$670$384$210$111$57$17
48 years$648$366$197$102$52$15
49 years$628$350$185$94$47$13
50 years$608$334$174$87$43$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $623,000, adding $6,853 every year, while hoping to spend $36,604 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: 54/35/11 Blend
71$623,000$623,000$623,000$623,000
72$693,615$660,596$650,939$728,760
73$725,417$654,019$633,799$746,814
74$759,237$645,892$614,859$761,896
75$795,240$636,103$594,018$777,453
76$833,611$624,528$571,173$793,539
77$874,549$611,039$546,217$810,213
78$918,273$595,501$519,036$827,543
79$965,025$577,768$489,512$845,606
80$1,015,068$557,690$457,521$864,489
81$1,068,691$535,102$422,934$884,290
82$1,126,212$509,836$385,617$905,120
83$1,187,977$481,710$345,427$927,103
84$1,254,370$450,533$302,218$950,380
85$1,325,810$416,103$255,836$975,109
86$1,402,756$378,206$206,120$1,001,468
87$1,485,715$336,616$152,902$1,029,654
88$1,575,241$291,093$96,008$1,059,892
89$1,671,946$241,387$35,255$1,092,431
90$1,776,500$187,230$0$1,127,551
91$1,889,640$128,341$0$1,169,036
92$2,012,175$64,423$0$1,218,406
93$2,144,998$0$0$1,271,934
94$2,289,088$0$0$1,331,943
95$2,445,522$0$0$1,424,081
96$2,615,485$0$0$1,524,240
97$2,800,281$0$0$1,633,194
98$3,001,343$0$0$1,751,797
99$3,220,250$0$0$1,880,985
100$3,458,737$0$0$2,021,791