Can I retire at age 72 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$80,845$80,125$79,422$78,736$78,067$77,445
2 years$40,022$39,277$38,554$37,854$37,175$36,548
3 years$26,416$25,668$24,947$24,253$23,585$22,973
4 years$19,615$18,869$18,155$17,473$16,821$16,228
5 years$15,535$14,793$14,089$13,421$12,787$12,215
6 years$12,816$12,080$11,386$10,733$10,118$9,567
7 years$10,875$10,145$9,462$8,824$8,229$7,700
8 years$9,419$8,696$8,024$7,402$6,826$6,320
9 years$8,288$7,571$6,911$6,305$5,749$5,264
10 years$7,383$6,674$6,026$5,435$4,898$4,435
11 years$6,644$5,941$5,305$4,730$4,213$3,770
12 years$6,028$5,332$4,708$4,149$3,651$3,229
13 years$5,507$4,819$4,206$3,663$3,183$2,782
14 years$5,061$4,380$3,779$3,252$2,791$2,409
15 years$4,675$4,002$3,412$2,900$2,457$2,094
16 years$4,337$3,671$3,094$2,596$2,172$1,827
17 years$4,040$3,381$2,815$2,333$1,925$1,599
18 years$3,776$3,124$2,570$2,102$1,712$1,403
19 years$3,540$2,896$2,353$1,900$1,526$1,234
20 years$3,327$2,691$2,159$1,721$1,363$1,087
21 years$3,136$2,506$1,986$1,562$1,220$960
22 years$2,961$2,340$1,830$1,420$1,093$848
23 years$2,803$2,188$1,690$1,293$981$751
24 years$2,657$2,050$1,563$1,179$882$665
25 years$2,524$1,924$1,448$1,077$794$590
26 years$2,401$1,808$1,343$985$715$524
27 years$2,287$1,702$1,247$901$645$465
28 years$2,182$1,604$1,159$826$582$413
29 years$2,084$1,513$1,079$757$525$368
30 years$1,993$1,429$1,005$695$475$327
31 years$1,908$1,351$937$638$429$291
32 years$1,828$1,278$874$587$388$259
33 years$1,753$1,210$816$539$351$231
34 years$1,683$1,147$762$496$318$206
35 years$1,617$1,088$713$457$288$184
36 years$1,555$1,033$667$421$261$164
37 years$1,496$981$624$388$237$146
38 years$1,441$932$584$357$214$130
39 years$1,388$886$548$330$194$116
40 years$1,338$843$513$304$176$104
41 years$1,291$803$481$280$160$93
42 years$1,246$764$451$259$145$83
43 years$1,204$728$424$239$132$74
44 years$1,163$694$398$221$120$66
45 years$1,125$662$373$204$109$59
46 years$1,088$632$351$188$99$53
47 years$1,052$603$329$174$90$47
48 years$1,019$575$310$161$81$42
49 years$987$549$291$148$74$37
50 years$956$525$274$137$67$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $979,000, adding $5,244 every year, while hoping to spend $21,986 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: 76/8/16 Blend
71$979,000$979,000$979,000$979,000
72$1,084,267$1,032,380$1,017,206$1,162,468
73$1,171,470$1,059,574$1,027,889$1,242,051
74$1,266,830$1,087,363$1,038,194$1,326,017
75$1,371,156$1,115,754$1,048,083$1,417,476
76$1,485,340$1,144,752$1,057,520$1,517,170
77$1,610,362$1,174,362$1,066,464$1,625,912
78$1,747,302$1,204,589$1,074,874$1,744,602
79$1,897,350$1,235,437$1,082,705$1,874,228
80$2,061,815$1,266,908$1,089,911$2,015,880
81$2,242,139$1,299,006$1,096,442$2,170,759
82$2,439,913$1,331,733$1,102,248$2,340,187
83$2,656,885$1,365,089$1,107,274$2,525,620
84$2,894,983$1,399,074$1,111,464$2,728,664
85$3,156,331$1,433,688$1,114,758$2,951,088
86$3,443,268$1,468,930$1,117,093$3,194,839
87$3,758,369$1,504,795$1,118,403$3,462,065
88$4,104,473$1,541,280$1,118,620$3,755,130
89$4,484,706$1,578,380$1,117,671$4,076,642
90$4,902,512$1,616,087$1,115,479$4,429,470
91$5,361,687$1,654,394$1,111,966$4,816,780
92$5,866,409$1,693,289$1,107,047$5,242,057
93$6,421,285$1,732,762$1,100,635$5,709,145
94$7,031,388$1,772,799$1,092,639$6,222,274
95$7,702,308$1,813,385$1,082,960$6,786,111
96$8,440,204$1,854,502$1,071,500$7,405,796
97$9,251,861$1,896,129$1,058,152$8,086,992
98$10,144,757$1,938,245$1,042,806$8,835,941
99$11,127,127$1,980,825$1,025,346$9,659,521
100$12,208,050$2,023,840$1,005,650$10,565,312