Can I retire at age 72 with 971,000?

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 $971,000?

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%
1 years$80,184$79,470$78,773$78,093$77,429$76,748
2 years$39,695$38,956$38,239$37,545$36,871$36,185
3 years$26,201$25,458$24,743$24,055$23,392$22,722
4 years$19,455$18,714$18,007$17,330$16,684$16,035
5 years$15,408$14,672$13,974$13,311$12,683$12,057
6 years$12,711$11,981$11,293$10,645$10,035$9,433
7 years$10,786$10,062$9,385$8,752$8,161$7,584
8 years$9,342$8,625$7,959$7,342$6,771$6,217
9 years$8,220$7,509$6,855$6,254$5,702$5,172
10 years$7,323$6,619$5,976$5,391$4,858$4,352
11 years$6,589$5,893$5,261$4,692$4,178$3,696
12 years$5,979$5,289$4,669$4,115$3,621$3,161
13 years$5,462$4,780$4,172$3,633$3,157$2,720
14 years$5,020$4,345$3,748$3,225$2,768$2,352
15 years$4,637$3,969$3,384$2,876$2,437$2,042
16 years$4,302$3,641$3,068$2,575$2,154$1,780
17 years$4,007$3,354$2,792$2,314$1,910$1,555
18 years$3,745$3,099$2,549$2,085$1,698$1,363
19 years$3,511$2,872$2,333$1,884$1,513$1,197
20 years$3,300$2,669$2,141$1,707$1,352$1,053
21 years$3,110$2,486$1,970$1,549$1,210$928
22 years$2,937$2,320$1,815$1,408$1,084$819
23 years$2,780$2,170$1,676$1,282$973$724
24 years$2,636$2,033$1,550$1,170$875$640
25 years$2,503$1,908$1,436$1,068$787$567
26 years$2,381$1,793$1,332$977$709$502
27 years$2,269$1,688$1,237$894$639$446
28 years$2,164$1,590$1,150$819$577$395
29 years$2,067$1,500$1,070$751$521$351
30 years$1,977$1,417$996$689$471$312
31 years$1,892$1,339$929$633$426$277
32 years$1,813$1,267$867$582$385$247
33 years$1,739$1,200$809$535$348$219
34 years$1,669$1,138$756$492$315$195
35 years$1,604$1,079$707$453$286$174
36 years$1,542$1,024$661$417$259$155
37 years$1,484$973$619$385$235$138
38 years$1,429$924$580$354$213$123
39 years$1,377$879$543$327$193$109
40 years$1,328$836$509$301$175$97
41 years$1,281$796$477$278$159$87
42 years$1,236$758$448$257$144$77
43 years$1,194$722$420$237$131$69
44 years$1,154$689$394$219$119$61
45 years$1,115$657$370$202$108$55
46 years$1,079$626$348$187$98$49
47 years$1,044$598$327$172$89$43
48 years$1,010$571$307$159$81$39
49 years$979$545$289$147$73$35
50 years$948$521$271$136$67$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $971,000, adding $4,546 every year, while hoping to spend $52,579 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: 54/39/7 Blend
71$971,000$971,000$971,000$971,000
72$1,074,731$1,023,268$1,008,218$1,130,761
73$1,128,410$1,017,465$986,049$1,163,367
74$1,185,802$1,009,615$961,376$1,192,658
75$1,247,230$999,562$934,059$1,223,263
76$1,313,049$987,142$903,951$1,255,314
77$1,383,648$972,179$870,901$1,288,962
78$1,459,452$954,488$834,748$1,324,371
79$1,540,931$933,873$795,327$1,361,729
80$1,628,597$910,125$752,462$1,401,244
81$1,723,017$883,023$705,972$1,443,147
82$1,824,808$852,335$655,666$1,487,700
83$1,934,653$817,814$601,345$1,535,192
84$2,053,299$779,198$542,802$1,585,946
85$2,181,568$736,211$479,818$1,640,324
86$2,320,364$688,562$412,168$1,698,726
87$2,470,680$635,940$339,614$1,761,600
88$2,633,607$578,019$261,909$1,829,446
89$2,810,347$514,454$178,795$1,902,817
90$3,002,220$444,880$90,002$1,982,331
91$3,210,678$368,911$0$2,068,675
92$3,437,320$286,140$0$2,162,965
93$3,683,902$196,136$0$2,272,894
94$3,952,359$98,445$0$2,392,694
95$4,244,818$0$0$2,523,438
96$4,563,622$0$0$2,669,491
97$4,911,348$0$0$2,874,960
98$5,290,832$0$0$3,099,281
99$5,705,196$0$0$3,344,312
100$6,157,880$0$0$3,612,096