Can I retire at age 72 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$81,671$80,943$80,233$79,541$78,864$75,825
2 years$40,431$39,678$38,948$38,241$37,554$34,529
3 years$26,686$25,930$25,202$24,501$23,826$20,909
4 years$19,815$19,061$18,341$17,652$16,993$14,207
5 years$15,694$14,944$14,233$13,558$12,918$10,270
6 years$12,947$12,203$11,502$10,843$10,221$7,713
7 years$10,986$10,248$9,559$8,914$8,313$5,944
8 years$9,515$8,785$8,106$7,478$6,896$4,664
9 years$8,373$7,649$6,982$6,370$5,808$3,709
10 years$7,459$6,742$6,087$5,491$4,948$2,979
11 years$6,712$6,002$5,359$4,779$4,256$2,412
12 years$6,089$5,387$4,756$4,191$3,688$1,964
13 years$5,563$4,868$4,249$3,700$3,216$1,608
14 years$5,113$4,425$3,818$3,285$2,819$1,321
15 years$4,723$4,042$3,447$2,929$2,482$1,088
16 years$4,382$3,709$3,125$2,623$2,194$899
17 years$4,081$3,416$2,844$2,357$1,945$745
18 years$3,814$3,156$2,596$2,124$1,730$617
19 years$3,576$2,925$2,377$1,919$1,542$513
20 years$3,361$2,718$2,181$1,738$1,377$426
21 years$3,168$2,532$2,006$1,577$1,232$355
22 years$2,992$2,363$1,849$1,434$1,104$295
23 years$2,831$2,210$1,707$1,306$991$246
24 years$2,685$2,071$1,579$1,191$891$205
25 years$2,550$1,944$1,462$1,088$802$171
26 years$2,426$1,827$1,356$995$722$143
27 years$2,311$1,719$1,259$911$651$119
28 years$2,204$1,620$1,171$834$588$100
29 years$2,105$1,528$1,090$765$531$83
30 years$2,013$1,443$1,015$702$479$70
31 years$1,927$1,364$946$645$433$58
32 years$1,847$1,291$883$593$392$49
33 years$1,771$1,223$824$545$355$41
34 years$1,700$1,159$770$501$321$34
35 years$1,634$1,099$720$462$291$28
36 years$1,571$1,043$674$425$264$24
37 years$1,511$991$630$392$239$20
38 years$1,455$942$590$361$217$17
39 years$1,402$895$553$333$196$14
40 years$1,352$852$518$307$178$12
41 years$1,304$811$486$283$162$10
42 years$1,259$772$456$261$147$8
43 years$1,216$736$428$241$133$7
44 years$1,175$701$402$223$121$6
45 years$1,136$669$377$206$110$5
46 years$1,099$638$354$190$100$4
47 years$1,063$609$333$176$90$3
48 years$1,029$581$313$162$82$3
49 years$997$555$294$150$75$2
50 years$966$530$276$139$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $989,000, adding $5,287 every year, while hoping to spend $37,090 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: 54/31/15 Blend
71$989,000$989,000$989,000$989,000
72$1,095,332$1,042,915$1,027,585$1,149,846
73$1,167,592$1,054,554$1,022,546$1,199,232
74$1,245,980$1,065,520$1,016,094$1,248,539
75$1,331,081$1,075,742$1,008,145$1,301,369
76$1,423,540$1,085,142$998,606$1,358,067
77$1,524,065$1,093,638$987,384$1,419,014
78$1,633,436$1,101,143$974,378$1,484,629
79$1,752,512$1,107,565$959,485$1,555,377
80$1,882,236$1,112,803$942,596$1,631,771
81$2,023,648$1,116,754$923,596$1,714,378
82$2,177,890$1,119,305$902,367$1,803,823
83$2,346,222$1,120,338$878,783$1,900,798
84$2,530,029$1,119,727$852,714$2,006,065
85$2,730,835$1,117,337$824,023$2,120,467
86$2,950,320$1,113,026$792,568$2,244,936
87$3,190,332$1,106,644$758,198$2,380,499
88$3,452,906$1,098,029$720,758$2,528,290
89$3,740,283$1,087,014$680,084$2,689,564
90$4,054,931$1,073,417$636,006$2,865,704
91$4,399,567$1,057,047$588,346$3,058,237
92$4,777,183$1,037,703$536,916$3,268,849
93$5,191,076$1,015,170$481,522$3,499,401
94$5,644,873$989,221$421,961$3,751,950
95$6,142,574$959,617$358,021$4,028,762
96$6,688,581$926,103$289,479$4,332,341
97$7,287,744$888,409$216,104$4,665,449
98$7,945,405$846,252$137,654$5,031,136
99$8,667,448$799,330$53,877$5,432,767
100$9,460,355$747,325$0$5,874,053