Can I retire at age 72 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$82,001$81,271$80,558$79,862$79,183$78,032
2 years$40,595$39,839$39,106$38,395$37,706$36,549
3 years$26,794$26,035$25,304$24,600$23,922$22,795
4 years$19,895$19,138$18,415$17,723$17,062$15,973
5 years$15,757$15,005$14,291$13,613$12,970$11,923
6 years$12,999$12,253$11,549$10,886$10,263$9,258
7 years$11,030$10,290$9,597$8,950$8,346$7,385
8 years$9,554$8,820$8,139$7,508$6,924$6,006
9 years$8,406$7,680$7,010$6,395$5,831$4,955
10 years$7,489$6,769$6,112$5,513$4,968$4,135
11 years$6,739$6,026$5,381$4,798$4,273$3,480
12 years$6,114$5,409$4,775$4,208$3,703$2,950
13 years$5,586$4,888$4,266$3,715$3,229$2,516
14 years$5,133$4,443$3,833$3,298$2,831$2,155
15 years$4,742$4,059$3,461$2,941$2,492$1,854
16 years$4,399$3,724$3,138$2,634$2,203$1,600
17 years$4,098$3,429$2,855$2,366$1,953$1,385
18 years$3,830$3,169$2,607$2,132$1,737$1,201
19 years$3,590$2,937$2,386$1,927$1,548$1,044
20 years$3,375$2,729$2,190$1,745$1,383$909
21 years$3,180$2,542$2,014$1,584$1,237$793
22 years$3,004$2,373$1,857$1,440$1,109$692
23 years$2,843$2,219$1,714$1,312$995$605
24 years$2,695$2,079$1,585$1,196$895$530
25 years$2,560$1,951$1,468$1,092$805$464
26 years$2,435$1,834$1,362$999$725$407
27 years$2,320$1,726$1,265$914$654$357
28 years$2,213$1,626$1,176$838$590$313
29 years$2,114$1,534$1,094$768$533$275
30 years$2,021$1,449$1,019$705$481$241
31 years$1,935$1,370$950$647$435$212
32 years$1,854$1,296$886$595$394$186
33 years$1,778$1,227$828$547$356$164
34 years$1,707$1,163$773$503$323$144
35 years$1,640$1,103$723$463$292$127
36 years$1,577$1,047$676$427$265$112
37 years$1,518$995$633$393$240$98
38 years$1,461$945$593$362$218$86
39 years$1,408$899$555$334$197$76
40 years$1,358$855$521$308$179$67
41 years$1,310$814$488$284$162$59
42 years$1,264$775$458$262$147$52
43 years$1,221$739$430$242$134$46
44 years$1,180$704$403$224$121$40
45 years$1,141$671$379$207$110$35
46 years$1,103$641$356$191$100$31
47 years$1,067$611$334$176$91$27
48 years$1,033$584$314$163$82$24
49 years$1,001$557$295$151$75$21
50 years$970$532$277$139$68$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $993,000, adding $3,209 every year, while hoping to spend $30,113 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: 31/50/19 Blend
71$993,000$993,000$993,000$993,000
72$1,097,596$1,044,967$1,029,576$1,125,012
73$1,177,511$1,064,130$1,032,026$1,165,054
74$1,264,568$1,083,224$1,033,550$1,205,171
75$1,359,463$1,102,211$1,034,084$1,247,718
76$1,462,964$1,121,055$1,033,561$1,292,924
77$1,575,915$1,139,715$1,031,914$1,341,043
78$1,699,244$1,158,147$1,029,068$1,392,355
79$1,833,974$1,176,303$1,024,949$1,447,169
80$1,981,231$1,194,134$1,019,476$1,505,828
81$2,142,254$1,211,583$1,012,566$1,568,711
82$2,318,407$1,228,595$1,004,131$1,636,235
83$2,511,195$1,245,106$994,079$1,708,865
84$2,722,270$1,261,050$982,315$1,787,110
85$2,953,455$1,276,355$968,736$1,871,538
86$3,206,757$1,290,946$953,238$1,962,772
87$3,484,386$1,304,741$935,711$2,061,504
88$3,788,774$1,317,655$916,038$2,168,497
89$4,122,603$1,329,594$894,099$2,284,594
90$4,488,825$1,340,460$869,768$2,410,728
91$4,890,691$1,350,149$842,912$2,547,928
92$5,331,785$1,358,549$813,392$2,697,334
93$5,816,050$1,365,541$781,064$2,860,201
94$6,347,833$1,370,999$745,776$3,037,920
95$6,931,923$1,374,789$707,370$3,232,024
96$7,573,593$1,376,767$665,681$3,444,208
97$8,278,654$1,376,783$620,536$3,676,343
98$9,053,507$1,374,676$571,753$3,930,496
99$9,905,203$1,370,273$519,145$4,208,950
100$10,841,511$1,363,394$462,515$4,514,224