Can I retire at age 72 with 624,000?

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 $624,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$51,529$51,070$50,623$50,185$49,759$49,342
2 years$25,510$25,034$24,574$24,128$23,695$23,274
3 years$16,837$16,360$15,901$15,459$15,033$14,622
4 years$12,502$12,027$11,572$11,137$10,722$10,324
5 years$9,902$9,429$8,980$8,554$8,150$7,767
6 years$8,169$7,699$7,257$6,841$6,449$6,080
7 years$6,931$6,466$6,031$5,624$5,245$4,891
8 years$6,004$5,543$5,115$4,718$4,351$4,012
9 years$5,283$4,826$4,405$4,019$3,664$3,339
10 years$4,706$4,254$3,841$3,464$3,122$2,812
11 years$4,235$3,787$3,381$3,015$2,685$2,389
12 years$3,842$3,399$3,001$2,645$2,327$2,045
13 years$3,510$3,072$2,681$2,335$2,029$1,760
14 years$3,226$2,792$2,409$2,073$1,779$1,523
15 years$2,980$2,551$2,175$1,848$1,566$1,324
16 years$2,765$2,340$1,972$1,655$1,384$1,154
17 years$2,575$2,155$1,794$1,487$1,227$1,009
18 years$2,407$1,991$1,638$1,340$1,091$885
19 years$2,256$1,846$1,499$1,211$973$778
20 years$2,121$1,715$1,376$1,097$869$685
21 years$1,999$1,597$1,266$995$777$604
22 years$1,888$1,491$1,167$905$697$533
23 years$1,786$1,395$1,077$824$626$472
24 years$1,694$1,307$996$752$562$418
25 years$1,609$1,226$923$686$506$370
26 years$1,530$1,153$856$628$456$328
27 years$1,458$1,085$795$575$411$291
28 years$1,391$1,022$739$526$371$259
29 years$1,328$964$687$483$335$230
30 years$1,270$911$640$443$302$204
31 years$1,216$861$597$407$273$182
32 years$1,165$814$557$374$247$162
33 years$1,117$771$520$344$224$144
34 years$1,073$731$486$316$203$128
35 years$1,031$693$454$291$184$114
36 years$991$658$425$268$166$102
37 years$954$625$398$247$151$91
38 years$918$594$372$228$137$81
39 years$885$565$349$210$124$72
40 years$853$537$327$194$112$64
41 years$823$512$307$179$102$57
42 years$794$487$288$165$93$51
43 years$767$464$270$152$84$46
44 years$741$443$253$141$76$41
45 years$717$422$238$130$69$36
46 years$693$403$223$120$63$32
47 years$671$384$210$111$57$29
48 years$649$367$197$102$52$26
49 years$629$350$185$95$47$23
50 years$609$335$174$87$43$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $624,000, adding $2,423 every year, while hoping to spend $57,035 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: 70/18/12 Blend
71$624,000$624,000$624,000$624,000
72$690,147$657,075$647,403$736,529
73$699,858$628,587$608,407$739,127
74$708,647$596,792$566,192$734,828
75$716,360$561,466$520,591$728,619
76$722,827$522,376$471,429$720,301
77$727,856$479,272$418,522$709,656
78$731,233$431,893$361,678$696,448
79$732,722$379,959$300,698$680,416
80$732,061$323,178$235,373$661,277
81$728,957$261,240$165,484$638,720
82$723,087$193,817$90,804$612,406
83$714,091$120,564$11,095$581,962
84$701,571$41,114$0$546,982
85$685,085$0$0$516,491
86$664,144$0$0$491,560
87$638,207$0$0$470,897
88$606,672$0$0$445,897
89$568,877$0$0$416,046
90$524,088$0$0$380,778
91$471,491$0$0$339,464
92$410,189$0$0$291,412
93$339,187$0$0$235,854
94$257,390$0$0$171,943
95$163,582$0$0$98,741
96$56,424$0$0$15,215
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0