Can I retire at age 72 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$81,175$80,452$79,747$79,058$78,386$76,898
2 years$40,186$39,437$38,712$38,009$37,327$35,833
3 years$26,524$25,773$25,049$24,353$23,682$22,229
4 years$19,695$18,946$18,229$17,545$16,890$15,490
5 years$15,599$14,854$14,147$13,476$12,839$11,496
6 years$12,868$12,129$11,433$10,777$10,159$8,874
7 years$10,919$10,186$9,501$8,860$8,262$7,035
8 years$9,458$8,731$8,057$7,433$6,854$5,685
9 years$8,322$7,602$6,940$6,331$5,772$4,660
10 years$7,413$6,701$6,050$5,457$4,918$3,862
11 years$6,671$5,965$5,327$4,750$4,230$3,229
12 years$6,052$5,354$4,727$4,166$3,666$2,718
13 years$5,530$4,839$4,223$3,678$3,196$2,300
14 years$5,082$4,398$3,795$3,265$2,802$1,956
15 years$4,694$4,018$3,426$2,912$2,467$1,670
16 years$4,355$3,686$3,106$2,607$2,180$1,430
17 years$4,056$3,395$2,827$2,342$1,933$1,228
18 years$3,791$3,137$2,580$2,111$1,719$1,057
19 years$3,554$2,907$2,362$1,907$1,532$911
20 years$3,341$2,702$2,168$1,728$1,369$787
21 years$3,148$2,517$1,994$1,568$1,225$681
22 years$2,974$2,349$1,838$1,426$1,098$589
23 years$2,814$2,197$1,697$1,298$985$511
24 years$2,668$2,059$1,569$1,184$886$443
25 years$2,534$1,932$1,454$1,081$797$385
26 years$2,411$1,816$1,348$989$718$334
27 years$2,297$1,709$1,252$905$647$291
28 years$2,191$1,610$1,164$829$584$253
29 years$2,093$1,519$1,083$760$527$220
30 years$2,001$1,434$1,009$698$477$191
31 years$1,915$1,356$940$641$431$167
32 years$1,835$1,283$877$589$390$145
33 years$1,760$1,215$819$542$353$126
34 years$1,690$1,152$765$498$319$110
35 years$1,624$1,092$716$459$289$96
36 years$1,561$1,037$669$423$262$84
37 years$1,502$985$627$389$238$73
38 years$1,447$936$587$359$215$64
39 years$1,394$890$550$331$195$55
40 years$1,344$847$515$305$177$48
41 years$1,297$806$483$282$161$42
42 years$1,252$768$453$260$146$37
43 years$1,209$731$425$240$132$32
44 years$1,168$697$399$221$120$28
45 years$1,129$665$375$205$109$24
46 years$1,092$634$352$189$99$21
47 years$1,057$605$331$175$90$19
48 years$1,023$578$311$161$82$16
49 years$991$552$292$149$74$14
50 years$960$527$275$138$67$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $983,000, adding $6,977 every year, while hoping to spend $30,611 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: 57/33/10 Blend
71$983,000$983,000$983,000$983,000
72$1,090,463$1,038,364$1,023,127$1,149,595
73$1,169,120$1,056,674$1,024,832$1,208,606
74$1,254,775$1,074,855$1,025,568$1,268,858
75$1,348,107$1,092,869$1,025,271$1,333,772
76$1,449,869$1,110,674$1,023,872$1,403,796
77$1,560,884$1,128,225$1,021,300$1,479,426
78$1,682,061$1,145,475$1,017,480$1,561,209
79$1,814,400$1,162,372$1,012,334$1,649,747
80$1,959,001$1,178,861$1,005,781$1,745,704
81$2,117,078$1,194,884$997,733$1,849,812
82$2,289,963$1,210,376$988,100$1,962,878
83$2,479,127$1,225,272$976,789$2,085,791
84$2,686,186$1,239,499$963,699$2,219,534
85$2,912,922$1,252,979$948,728$2,365,188
86$3,161,297$1,265,632$931,767$2,523,944
87$3,433,470$1,277,369$912,703$2,697,119
88$3,731,821$1,288,097$891,416$2,886,162
89$4,058,971$1,297,718$867,782$3,092,673
90$4,417,804$1,306,124$841,671$3,318,413
91$4,811,501$1,313,205$812,947$3,565,327
92$5,243,561$1,318,839$781,468$3,835,558
93$5,717,843$1,322,900$747,086$4,131,469
94$6,238,593$1,325,253$709,643$4,455,665
95$6,810,492$1,325,753$668,979$4,811,021
96$7,438,694$1,324,247$624,922$5,200,704
97$8,128,880$1,320,574$577,296$5,628,206
98$8,887,305$1,314,562$525,915$6,097,379
99$9,720,862$1,306,027$470,584$6,612,470
100$10,637,144$1,294,776$411,102$7,178,159