Can I retire at age 72 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$79,441$78,733$78,043$77,369$76,711$75,816
2 years$39,327$38,595$37,885$37,197$36,529$35,628
3 years$25,958$25,222$24,514$23,832$23,176$22,296
4 years$19,274$18,541$17,840$17,170$16,529$15,679
5 years$15,265$14,536$13,845$13,188$12,565$11,746
6 years$12,593$11,870$11,188$10,547$9,942$9,156
7 years$10,686$9,968$9,298$8,671$8,086$7,332
8 years$9,256$8,545$7,885$7,274$6,708$5,987
9 years$8,144$7,440$6,791$6,196$5,649$4,960
10 years$7,255$6,558$5,921$5,341$4,813$4,156
11 years$6,528$5,838$5,213$4,648$4,140$3,514
12 years$5,923$5,240$4,626$4,077$3,587$2,992
13 years$5,411$4,735$4,133$3,599$3,128$2,563
14 years$4,973$4,304$3,714$3,195$2,742$2,206
15 years$4,594$3,932$3,353$2,849$2,414$1,906
16 years$4,262$3,608$3,040$2,551$2,134$1,653
17 years$3,970$3,322$2,766$2,292$1,892$1,438
18 years$3,710$3,070$2,525$2,066$1,682$1,254
19 years$3,478$2,845$2,312$1,867$1,499$1,095
20 years$3,270$2,644$2,122$1,691$1,339$959
21 years$3,081$2,463$1,951$1,534$1,199$841
22 years$2,910$2,299$1,799$1,395$1,074$738
23 years$2,754$2,150$1,661$1,271$964$649
24 years$2,611$2,015$1,536$1,159$867$571
25 years$2,480$1,891$1,422$1,058$780$503
26 years$2,359$1,777$1,319$968$703$443
27 years$2,248$1,672$1,225$886$633$391
28 years$2,144$1,576$1,139$812$572$345
29 years$2,048$1,486$1,060$744$516$304
30 years$1,958$1,404$987$683$466$269
31 years$1,875$1,327$920$627$422$238
32 years$1,796$1,256$859$576$381$210
33 years$1,723$1,189$802$530$345$186
34 years$1,654$1,127$749$488$312$164
35 years$1,589$1,069$700$449$283$145
36 years$1,528$1,015$655$414$256$129
37 years$1,470$964$613$381$232$114
38 years$1,416$916$574$351$211$101
39 years$1,364$871$538$324$191$89
40 years$1,315$829$504$299$173$79
41 years$1,269$789$473$276$157$70
42 years$1,225$751$444$254$143$62
43 years$1,183$716$416$235$129$55
44 years$1,143$682$391$217$118$49
45 years$1,105$651$367$200$107$43
46 years$1,069$621$345$185$97$38
47 years$1,034$592$324$171$88$34
48 years$1,001$565$304$158$80$30
49 years$969$540$286$146$73$27
50 years$939$516$269$135$66$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $962,000, adding $5,083 every year, while hoping to spend $35,581 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: 70/17/13 Blend
71$962,000$962,000$962,000$962,000
72$1,065,367$1,014,381$999,470$1,136,562
73$1,136,177$1,026,228$995,094$1,196,333
74$1,213,016$1,037,463$989,380$1,256,943
75$1,296,463$1,048,018$982,243$1,322,341
76$1,387,153$1,057,821$973,599$1,392,993
77$1,485,785$1,066,796$963,357$1,469,412
78$1,593,127$1,074,861$951,421$1,552,163
79$1,710,025$1,081,929$937,693$1,641,871
80$1,837,410$1,087,906$922,068$1,739,224
81$1,976,307$1,092,694$904,439$1,844,979
82$2,127,843$1,096,189$884,690$1,959,972
83$2,293,260$1,098,279$862,704$2,085,126
84$2,473,922$1,098,845$838,354$2,221,455
85$2,671,335$1,097,761$811,512$2,370,081
86$2,887,154$1,094,894$782,040$2,532,238
87$3,123,201$1,090,102$749,797$2,709,288
88$3,381,485$1,083,234$714,632$2,902,734
89$3,664,214$1,074,130$676,390$3,114,230
90$3,973,824$1,062,622$634,908$3,345,601
91$4,312,993$1,048,529$590,017$3,598,862
92$4,684,673$1,031,662$541,537$3,876,229
93$5,092,114$1,011,818$489,284$4,180,151
94$5,538,898$988,785$433,062$4,513,325
95$6,028,966$962,336$372,670$4,878,725
96$6,566,661$932,231$307,896$5,279,631
97$7,156,768$898,218$238,517$5,719,657
98$7,804,555$860,028$164,305$6,202,790
99$8,515,828$817,377$85,017$6,733,424
100$9,296,979$769,965$401$7,316,405