Can I retire at age 72 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$58,301$57,782$57,275$56,780$56,297$55,990
2 years$28,862$28,324$27,803$27,298$26,808$26,498
3 years$19,050$18,510$17,991$17,490$17,008$16,704
4 years$14,145$13,607$13,093$12,601$12,130$11,836
5 years$11,203$10,668$10,160$9,679$9,221$8,937
6 years$9,242$8,711$8,211$7,740$7,297$7,022
7 years$7,842$7,316$6,823$6,364$5,934$5,670
8 years$6,793$6,271$5,787$5,338$4,923$4,670
9 years$5,977$5,460$4,984$4,547$4,146$3,903
10 years$5,324$4,813$4,345$3,920$3,532$3,300
11 years$4,791$4,284$3,826$3,411$3,038$2,816
12 years$4,347$3,845$3,395$2,992$2,633$2,421
13 years$3,971$3,475$3,033$2,642$2,296$2,094
14 years$3,650$3,159$2,725$2,345$2,012$1,820
15 years$3,371$2,886$2,461$2,091$1,772$1,589
16 years$3,128$2,648$2,231$1,872$1,566$1,392
17 years$2,913$2,438$2,030$1,682$1,389$1,223
18 years$2,723$2,253$1,853$1,516$1,235$1,078
19 years$2,553$2,088$1,697$1,370$1,100$952
20 years$2,399$1,940$1,557$1,241$983$843
21 years$2,261$1,807$1,432$1,126$880$747
22 years$2,136$1,687$1,320$1,024$788$663
23 years$2,021$1,578$1,219$932$708$590
24 years$1,916$1,478$1,127$850$636$525
25 years$1,820$1,387$1,044$777$572$467
26 years$1,731$1,304$968$710$516$417
27 years$1,650$1,227$899$650$465$372
28 years$1,574$1,156$836$596$419$332
29 years$1,503$1,091$778$546$379$297
30 years$1,437$1,030$724$501$342$266
31 years$1,376$974$675$460$309$238
32 years$1,318$922$630$423$280$213
33 years$1,264$873$588$389$253$190
34 years$1,214$827$550$358$229$171
35 years$1,166$785$514$330$208$153
36 years$1,121$745$481$303$188$137
37 years$1,079$707$450$280$171$123
38 years$1,039$672$421$258$155$110
39 years$1,001$639$395$238$140$99
40 years$965$608$370$219$127$89
41 years$931$579$347$202$115$79
42 years$899$551$326$187$105$71
43 years$868$525$305$172$95$64
44 years$839$501$287$159$86$57
45 years$811$477$269$147$78$52
46 years$784$455$253$136$71$46
47 years$759$435$238$125$65$42
48 years$735$415$223$116$59$37
49 years$712$396$210$107$53$34
50 years$689$378$197$99$48$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $706,000, adding $3,123 every year, while hoping to spend $48,876 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: 60/23/17 Blend
71$706,000$706,000$706,000$706,000
72$781,233$743,815$732,872$824,522
73$808,915$728,259$705,420$838,566
74$837,783$710,302$675,410$848,176
75$867,905$689,775$642,704$857,526
76$899,357$666,499$607,161$866,598
77$932,219$640,285$568,628$875,372
78$966,579$610,933$526,950$883,831
79$1,002,530$578,229$481,964$891,957
80$1,040,176$541,949$433,496$899,734
81$1,079,626$501,856$381,370$907,146
82$1,121,000$457,700$325,399$914,179
83$1,164,429$409,214$265,387$920,821
84$1,210,054$356,119$201,130$927,063
85$1,258,028$298,117$132,417$932,898
86$1,308,519$234,898$59,025$938,320
87$1,361,709$166,128$0$943,332
88$1,417,795$91,460$0$951,437
89$1,476,994$10,526$0$970,797
90$1,539,540$0$0$990,757
91$1,605,690$0$0$1,030,892
92$1,675,726$0$0$1,076,229
93$1,749,951$0$0$1,124,306
94$1,828,702$0$0$1,175,344
95$1,912,343$0$0$1,229,584
96$2,001,275$0$0$1,287,287
97$2,095,935$0$0$1,348,744
98$2,196,802$0$0$1,414,269
99$2,304,401$0$0$1,484,208
100$2,419,305$0$0$1,558,940