Can I retire at age 72 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$77,624$76,933$76,258$75,600$74,957$73,354
2 years$38,428$37,712$37,019$36,346$35,694$34,086
3 years$25,364$24,645$23,953$23,287$22,646$21,084
4 years$18,834$18,117$17,432$16,777$16,151$14,647
5 years$14,916$14,204$13,528$12,886$12,278$10,836
6 years$12,305$11,599$10,933$10,305$9,715$8,337
7 years$10,441$9,740$9,085$8,473$7,901$6,587
8 years$9,044$8,349$7,705$7,108$6,555$5,305
9 years$7,958$7,270$6,636$6,054$5,520$4,333
10 years$7,089$6,408$5,786$5,219$4,703$3,578
11 years$6,379$5,704$5,094$4,542$4,045$2,979
12 years$5,788$5,120$4,520$3,984$3,505$2,498
13 years$5,288$4,627$4,039$3,517$3,057$2,106
14 years$4,859$4,206$3,629$3,122$2,679$1,784
15 years$4,489$3,842$3,276$2,784$2,359$1,517
16 years$4,165$3,525$2,970$2,493$2,085$1,293
17 years$3,879$3,246$2,703$2,240$1,849$1,106
18 years$3,625$3,000$2,467$2,019$1,644$947
19 years$3,399$2,780$2,259$1,824$1,465$813
20 years$3,195$2,584$2,073$1,652$1,309$699
21 years$3,011$2,406$1,907$1,499$1,171$602
22 years$2,843$2,246$1,757$1,363$1,050$519
23 years$2,691$2,101$1,623$1,242$942$448
24 years$2,552$1,968$1,501$1,132$847$387
25 years$2,423$1,847$1,390$1,034$762$334
26 years$2,305$1,736$1,289$946$687$289
27 years$2,196$1,634$1,197$865$619$250
28 years$2,095$1,540$1,113$793$559$216
29 years$2,001$1,452$1,036$727$504$187
30 years$1,913$1,372$965$667$456$162
31 years$1,832$1,297$899$613$412$140
32 years$1,755$1,227$839$563$373$122
33 years$1,683$1,162$783$518$337$106
34 years$1,616$1,101$732$477$305$92
35 years$1,553$1,045$684$439$277$79
36 years$1,493$991$640$404$251$69
37 years$1,437$942$599$372$227$60
38 years$1,383$895$561$343$206$52
39 years$1,333$851$526$316$187$45
40 years$1,285$810$493$292$169$39
41 years$1,240$771$462$269$154$34
42 years$1,197$734$433$248$139$29
43 years$1,156$699$407$229$127$25
44 years$1,117$667$382$212$115$22
45 years$1,080$636$358$196$104$19
46 years$1,044$606$337$181$95$17
47 years$1,011$579$316$167$86$14
48 years$978$552$297$154$78$13
49 years$947$528$279$143$71$11
50 years$918$504$263$132$64$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $940,000, adding $3,089 every year, while hoping to spend $53,508 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: 80/11/9 Blend
71$940,000$940,000$940,000$940,000
72$1,039,066$989,246$974,676$1,120,563
73$1,088,119$980,787$950,396$1,165,984
74$1,140,382$970,120$923,509$1,208,488
75$1,196,125$957,081$893,871$1,253,537
76$1,255,647$941,495$861,332$1,301,358
77$1,319,271$923,176$825,735$1,352,201
78$1,387,355$901,930$786,915$1,406,344
79$1,460,289$877,548$744,701$1,464,091
80$1,538,502$849,812$698,912$1,525,779
81$1,622,465$818,488$649,361$1,591,778
82$1,712,693$783,332$595,852$1,662,496
83$1,809,755$744,081$538,180$1,738,385
84$1,914,271$700,462$476,130$1,819,942
85$2,026,925$652,183$409,479$1,907,714
86$2,148,467$598,937$337,993$2,002,307
87$2,279,724$540,397$261,428$2,104,388
88$2,421,600$476,221$179,530$2,214,692
89$2,575,092$406,044$92,033$2,334,031
90$2,741,294$329,483$0$2,463,301
91$2,921,410$246,133$0$2,603,617
92$3,116,764$155,564$0$2,765,381
93$3,328,812$57,324$0$2,940,977
94$3,559,154$0$0$3,131,760
95$3,809,551$0$0$3,345,164
96$4,081,940$0$0$3,584,882
97$4,378,453$0$0$3,845,855
98$4,701,436$0$0$4,130,149
99$5,053,468$0$0$4,440,040
100$5,437,392$0$0$4,778,031