Can I retire at age 72 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$81,010$80,288$79,584$78,897$78,226$75,783
2 years$40,104$39,357$38,633$37,931$37,251$34,811
3 years$26,470$25,720$24,998$24,303$23,633$21,273
4 years$19,655$18,907$18,192$17,509$16,855$14,594
5 years$15,567$14,823$14,118$13,449$12,813$10,656
6 years$12,842$12,104$11,409$10,755$10,139$8,087
7 years$10,897$10,165$9,481$8,842$8,245$6,300
8 years$9,438$8,714$8,041$7,418$6,840$4,999
9 years$8,305$7,587$6,926$6,318$5,761$4,022
10 years$7,398$6,687$6,038$5,446$4,908$3,270
11 years$6,657$5,953$5,316$4,740$4,221$2,680
12 years$6,040$5,343$4,718$4,157$3,658$2,210
13 years$5,518$4,829$4,215$3,670$3,190$1,833
14 years$5,071$4,389$3,787$3,258$2,796$1,526
15 years$4,684$4,010$3,419$2,906$2,462$1,274
16 years$4,346$3,679$3,100$2,602$2,176$1,068
17 years$4,048$3,388$2,821$2,338$1,929$896
18 years$3,783$3,131$2,575$2,107$1,716$754
19 years$3,547$2,902$2,357$1,904$1,529$635
20 years$3,334$2,696$2,163$1,724$1,366$536
21 years$3,142$2,511$1,990$1,565$1,222$453
22 years$2,968$2,344$1,834$1,423$1,096$383
23 years$2,808$2,193$1,693$1,296$983$324
24 years$2,663$2,054$1,566$1,182$884$274
25 years$2,529$1,928$1,451$1,079$795$232
26 years$2,406$1,812$1,345$987$716$197
27 years$2,292$1,705$1,249$903$646$167
28 years$2,186$1,607$1,161$828$583$141
29 years$2,088$1,516$1,081$759$526$120
30 years$1,997$1,432$1,007$696$476$102
31 years$1,912$1,353$938$640$430$86
32 years$1,832$1,280$876$588$389$73
33 years$1,757$1,213$818$541$352$62
34 years$1,687$1,149$764$497$319$53
35 years$1,620$1,090$714$458$289$45
36 years$1,558$1,035$668$422$262$38
37 years$1,499$983$625$389$237$32
38 years$1,444$934$586$358$215$27
39 years$1,391$888$549$330$195$23
40 years$1,341$845$514$305$177$20
41 years$1,294$804$482$281$160$17
42 years$1,249$766$452$259$146$14
43 years$1,206$730$424$239$132$12
44 years$1,166$696$398$221$120$10
45 years$1,127$663$374$204$109$9
46 years$1,090$633$351$189$99$7
47 years$1,055$604$330$174$90$6
48 years$1,021$577$310$161$81$5
49 years$989$551$292$149$74$5
50 years$958$526$274$138$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $981,000, adding $6,732 every year, while hoping to spend $37,458 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: 57/29/14 Blend
71$981,000$981,000$981,000$981,000
72$1,088,006$1,036,013$1,020,808$1,145,751
73$1,159,128$1,046,923$1,015,150$1,196,531
74$1,236,248$1,057,111$1,008,047$1,247,142
75$1,319,940$1,066,504$999,411$1,301,420
76$1,410,833$1,075,022$989,150$1,359,723
77$1,509,619$1,082,579$977,167$1,422,446
78$1,617,059$1,089,085$963,362$1,490,025
79$1,733,993$1,094,444$947,628$1,562,942
80$1,861,342$1,098,553$929,855$1,641,730
81$2,000,121$1,101,304$909,927$1,726,976
82$2,151,446$1,102,580$887,722$1,819,329
83$2,316,546$1,102,260$863,114$1,919,505
84$2,496,775$1,100,212$835,970$2,028,295
85$2,693,621$1,096,297$806,150$2,146,572
86$2,908,724$1,090,370$773,510$2,275,302
87$3,143,889$1,082,273$737,897$2,415,547
88$3,401,102$1,071,841$699,154$2,568,483
89$3,682,553$1,058,899$657,113$2,735,407
90$3,990,649$1,043,261$611,602$2,917,751
91$4,328,044$1,024,729$562,439$3,117,095
92$4,697,659$1,003,096$509,436$3,335,184
93$5,102,711$978,139$452,393$3,573,943
94$5,546,745$949,625$391,106$3,835,496
95$6,033,662$917,306$325,357$4,122,189
96$6,567,761$880,919$254,922$4,436,609
97$7,153,776$840,187$179,565$4,781,611
98$7,796,922$794,817$99,041$5,160,347
99$8,502,943$744,498$13,093$5,576,294
100$9,278,166$688,901$0$6,033,287