Can I retire at age 72 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$81,093$80,370$79,666$78,978$78,306$77,845
2 years$40,145$39,397$38,673$37,970$37,289$36,824
3 years$26,497$25,747$25,024$24,328$23,657$23,203
4 years$19,675$18,926$18,211$17,527$16,873$16,432
5 years$15,583$14,839$14,132$13,462$12,826$12,401
6 years$12,855$12,117$11,421$10,766$10,149$9,739
7 years$10,908$10,176$9,491$8,851$8,254$7,860
8 years$9,448$8,722$8,049$7,425$6,847$6,469
9 years$8,313$7,594$6,933$6,325$5,767$5,404
10 years$7,406$6,694$6,044$5,452$4,913$4,566
11 years$6,664$5,959$5,321$4,745$4,226$3,894
12 years$6,046$5,349$4,722$4,162$3,662$3,345
13 years$5,524$4,834$4,219$3,674$3,193$2,891
14 years$5,077$4,394$3,791$3,262$2,799$2,512
15 years$4,689$4,014$3,423$2,909$2,465$2,191
16 years$4,351$3,683$3,103$2,604$2,178$1,919
17 years$4,052$3,392$2,824$2,340$1,931$1,685
18 years$3,787$3,134$2,578$2,109$1,717$1,484
19 years$3,550$2,904$2,360$1,906$1,531$1,309
20 years$3,338$2,699$2,166$1,726$1,367$1,158
21 years$3,145$2,514$1,992$1,566$1,223$1,026
22 years$2,971$2,347$1,836$1,424$1,097$910
23 years$2,811$2,195$1,695$1,297$984$808
24 years$2,666$2,056$1,568$1,183$885$719
25 years$2,532$1,930$1,452$1,080$796$640
26 years$2,408$1,814$1,347$988$717$570
27 years$2,294$1,707$1,251$904$647$509
28 years$2,189$1,608$1,163$828$583$454
29 years$2,090$1,517$1,082$760$527$405
30 years$1,999$1,433$1,008$697$476$362
31 years$1,913$1,355$939$640$430$324
32 years$1,834$1,282$877$588$389$290
33 years$1,759$1,214$818$541$352$259
34 years$1,688$1,150$765$498$319$232
35 years$1,622$1,091$715$458$289$208
36 years$1,560$1,036$669$422$262$186
37 years$1,501$984$626$389$237$167
38 years$1,445$935$586$358$215$149
39 years$1,392$889$549$331$195$134
40 years$1,343$846$515$305$177$120
41 years$1,295$805$483$281$161$107
42 years$1,250$767$453$260$146$96
43 years$1,207$731$425$240$132$86
44 years$1,167$696$399$221$120$77
45 years$1,128$664$374$204$109$69
46 years$1,091$633$352$189$99$62
47 years$1,056$605$330$174$90$56
48 years$1,022$577$311$161$82$50
49 years$990$551$292$149$74$45
50 years$959$526$274$138$67$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $982,000, adding $2,611 every year, while hoping to spend $24,546 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: 48/43/9 Blend
71$982,000$982,000$982,000$982,000
72$1,084,857$1,032,811$1,017,590$1,134,171
73$1,169,396$1,057,302$1,025,563$1,192,781
74$1,261,735$1,082,171$1,032,980$1,253,592
75$1,362,644$1,107,409$1,039,796$1,319,049
76$1,472,970$1,133,009$1,045,966$1,389,593
77$1,593,647$1,158,960$1,051,440$1,465,707
78$1,725,701$1,185,251$1,056,166$1,547,925
79$1,870,265$1,211,870$1,060,089$1,636,836
80$2,028,582$1,238,803$1,063,153$1,733,085
81$2,202,026$1,266,033$1,065,297$1,837,387
82$2,392,107$1,293,543$1,066,459$1,950,526
83$2,600,489$1,321,313$1,066,572$2,073,368
84$2,829,004$1,349,322$1,065,567$2,206,866
85$3,079,670$1,377,547$1,063,371$2,352,070
86$3,354,711$1,405,961$1,059,908$2,510,137
87$3,656,574$1,434,536$1,055,098$2,682,343
88$3,987,958$1,463,241$1,048,857$2,870,091
89$4,351,832$1,492,043$1,041,097$3,074,932
90$4,751,471$1,520,905$1,031,725$3,298,571
91$5,190,479$1,549,787$1,020,646$3,542,888
92$5,672,828$1,578,647$1,007,758$3,809,955
93$6,202,894$1,607,438$992,955$4,102,057
94$6,785,496$1,636,110$976,126$4,421,710
95$7,425,946$1,664,609$957,156$4,771,688
96$8,130,095$1,692,876$935,923$5,155,049
97$8,904,388$1,720,850$912,299$5,575,162
98$9,755,926$1,748,463$886,152$6,035,742
99$10,692,536$1,775,643$857,344$6,540,882
100$11,722,837$1,802,312$825,727$7,095,093