Can I retire at age 72 with 704,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $704,000?

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$58,136$57,618$57,113$56,619$56,138$55,901
2 years$28,780$28,244$27,725$27,221$26,732$26,494
3 years$18,996$18,458$17,940$17,441$16,960$16,726
4 years$14,105$13,568$13,055$12,565$12,096$11,869
5 years$11,171$10,638$10,132$9,651$9,195$8,976
6 years$9,216$8,687$8,188$7,718$7,276$7,065
7 years$7,820$7,295$6,804$6,345$5,917$5,714
8 years$6,773$6,253$5,770$5,323$4,909$4,714
9 years$5,960$5,444$4,970$4,534$4,134$3,947
10 years$5,309$4,799$4,333$3,908$3,522$3,343
11 years$4,777$4,272$3,815$3,401$3,029$2,858
12 years$4,335$3,835$3,385$2,984$2,625$2,461
13 years$3,960$3,465$3,025$2,634$2,289$2,133
14 years$3,639$3,150$2,718$2,338$2,007$1,858
15 years$3,362$2,877$2,454$2,085$1,767$1,625
16 years$3,119$2,640$2,225$1,867$1,562$1,426
17 years$2,905$2,431$2,024$1,678$1,385$1,256
18 years$2,715$2,247$1,848$1,512$1,231$1,109
19 years$2,545$2,082$1,692$1,366$1,097$982
20 years$2,393$1,935$1,553$1,237$980$871
21 years$2,255$1,802$1,428$1,123$877$774
22 years$2,130$1,682$1,316$1,021$786$688
23 years$2,015$1,573$1,215$930$706$613
24 years$1,911$1,474$1,124$848$634$547
25 years$1,815$1,384$1,041$774$571$489
26 years$1,727$1,300$965$708$514$437
27 years$1,645$1,224$897$648$464$391
28 years$1,569$1,153$833$594$418$350
29 years$1,499$1,088$776$545$378$313
30 years$1,433$1,027$722$500$341$281
31 years$1,372$971$673$459$309$252
32 years$1,314$919$628$422$279$226
33 years$1,261$870$587$388$253$203
34 years$1,210$825$548$357$229$182
35 years$1,163$782$513$329$207$164
36 years$1,118$743$479$303$188$147
37 years$1,076$705$449$279$170$132
38 years$1,036$670$420$257$154$119
39 years$998$637$394$237$140$107
40 years$962$606$369$219$127$96
41 years$929$577$346$202$115$86
42 years$896$550$325$186$104$78
43 years$866$524$305$172$95$70
44 years$836$499$286$159$86$63
45 years$809$476$268$146$78$57
46 years$782$454$252$135$71$51
47 years$757$433$237$125$64$46
48 years$733$414$223$116$58$41
49 years$709$395$209$107$53$37
50 years$687$377$197$99$48$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $704,000, adding $6,391 every year, while hoping to spend $30,439 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: 83/11/6 Blend
71$704,000$704,000$704,000$704,000
72$782,400$745,088$734,176$846,525
73$829,818$749,211$726,384$893,478
74$881,053$752,515$717,311$940,252
75$936,461$754,929$706,882$990,660
76$996,435$756,376$695,017$1,045,048
77$1,061,407$756,774$681,636$1,103,794
78$1,131,851$756,036$666,651$1,167,318
79$1,208,289$754,071$649,973$1,236,082
80$1,291,295$750,781$631,508$1,310,592
81$1,381,500$746,062$611,156$1,391,409
82$1,479,598$739,804$588,816$1,479,149
83$1,586,354$731,892$564,378$1,574,490
84$1,702,607$722,200$537,730$1,678,180
85$1,829,284$710,598$508,754$1,791,043
86$1,967,401$696,948$477,328$1,913,985
87$2,118,080$681,102$443,322$2,048,009
88$2,282,553$662,905$406,602$2,194,214
89$2,462,178$642,192$367,028$2,353,815
90$2,658,448$618,788$324,452$2,528,149
91$2,873,010$592,508$278,721$2,718,691
92$3,107,675$563,159$229,676$2,927,065
93$3,364,436$530,532$177,148$3,155,062
94$3,645,489$494,409$120,964$3,404,653
95$3,953,254$454,560$60,941$3,678,012
96$4,290,392$410,739$0$3,977,537
97$4,659,836$362,690$0$4,306,065
98$5,064,816$310,138$0$4,670,485
99$5,508,889$252,796$0$5,070,110
100$5,995,972$190,360$0$5,508,489