Can I retire at age 72 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$80,349$79,634$78,935$78,254$77,588$76,524
2 years$39,777$39,036$38,318$37,622$36,947$35,876
3 years$26,255$25,511$24,794$24,105$23,441$22,397
4 years$19,495$18,753$18,044$17,366$16,718$15,710
5 years$15,440$14,703$14,003$13,339$12,709$11,739
6 years$12,737$12,006$11,316$10,667$10,056$9,125
7 years$10,808$10,082$9,404$8,770$8,178$7,287
8 years$9,361$8,642$7,975$7,357$6,785$5,933
9 years$8,237$7,525$6,869$6,267$5,714$4,901
10 years$7,338$6,633$5,989$5,402$4,868$4,094
11 years$6,603$5,905$5,272$4,701$4,187$3,451
12 years$5,991$5,300$4,679$4,124$3,628$2,929
13 years$5,473$4,789$4,180$3,641$3,164$2,501
14 years$5,030$4,353$3,756$3,232$2,773$2,145
15 years$4,646$3,977$3,391$2,882$2,442$1,848
16 years$4,311$3,649$3,075$2,581$2,158$1,597
17 years$4,015$3,360$2,798$2,319$1,914$1,384
18 years$3,752$3,105$2,554$2,090$1,702$1,202
19 years$3,518$2,878$2,338$1,888$1,517$1,047
20 years$3,307$2,674$2,146$1,710$1,355$913
21 years$3,116$2,491$1,974$1,552$1,212$797
22 years$2,943$2,325$1,819$1,411$1,087$697
23 years$2,786$2,175$1,680$1,285$975$610
24 years$2,641$2,038$1,553$1,172$877$535
25 years$2,509$1,912$1,439$1,070$789$469
26 years$2,386$1,797$1,334$979$711$412
27 years$2,273$1,691$1,239$896$641$362
28 years$2,169$1,594$1,152$821$578$318
29 years$2,071$1,503$1,072$753$522$280
30 years$1,981$1,420$998$691$472$246
31 years$1,896$1,342$931$634$426$217
32 years$1,817$1,270$868$583$386$191
33 years$1,743$1,203$811$536$349$168
34 years$1,673$1,140$758$493$316$148
35 years$1,607$1,081$708$454$286$130
36 years$1,545$1,026$663$418$259$115
37 years$1,487$975$620$385$235$101
38 years$1,432$926$581$355$213$89
39 years$1,380$881$544$328$193$79
40 years$1,330$838$510$302$175$69
41 years$1,283$798$478$279$159$61
42 years$1,239$760$449$257$144$54
43 years$1,196$724$421$237$131$48
44 years$1,156$690$395$219$119$42
45 years$1,118$658$371$202$108$37
46 years$1,081$628$348$187$98$33
47 years$1,046$599$327$173$89$29
48 years$1,013$572$308$160$81$25
49 years$981$546$289$148$73$22
50 years$950$522$272$136$67$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $973,000, adding $6,393 every year, while hoping to spend $48,836 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: 50/42/8 Blend
71$973,000$973,000$973,000$973,000
72$1,078,840$1,027,271$1,012,190$1,130,234
73$1,136,921$1,025,647$994,137$1,164,377
74$1,199,289$1,022,305$973,843$1,195,713
75$1,266,330$1,017,112$951,180$1,228,616
76$1,338,468$1,009,923$926,017$1,263,246
77$1,416,168$1,000,585$898,215$1,299,779
78$1,499,940$988,936$867,628$1,338,414
79$1,590,345$974,806$834,105$1,379,372
80$1,688,001$958,011$797,487$1,422,899
81$1,793,583$938,360$757,610$1,469,272
82$1,907,837$915,649$714,298$1,518,794
83$2,031,582$889,661$667,372$1,571,808
84$2,165,716$860,167$616,642$1,628,693
85$2,311,230$826,926$561,910$1,689,872
86$2,469,211$789,681$502,970$1,755,813
87$2,640,857$748,162$439,606$1,827,041
88$2,827,484$702,082$371,593$1,904,135
89$3,030,541$651,137$298,695$1,987,740
90$3,251,621$595,008$220,666$2,078,574
91$3,492,478$533,355$137,250$2,177,432
92$3,755,043$465,821$48,179$2,285,199
93$4,041,438$392,027$0$2,402,855
94$4,354,002$311,574$0$2,535,489
95$4,695,308$224,039$0$2,684,956
96$5,068,189$128,976$0$2,848,504
97$5,475,764$25,916$0$3,027,643
98$5,921,466$0$0$3,224,046
99$6,409,075$0$0$3,479,146
100$6,942,755$0$0$3,771,557