Can I retire at age 72 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$82,331$81,598$80,882$80,184$79,502$77,517
2 years$40,758$39,999$39,263$38,550$37,858$35,871
3 years$26,902$26,140$25,406$24,699$24,019$22,091
4 years$19,976$19,216$18,489$17,795$17,130$15,278
5 years$15,821$15,065$14,348$13,668$13,022$11,249
6 years$13,052$12,302$11,596$10,930$10,304$8,613
7 years$11,075$10,331$9,636$8,986$8,380$6,771
8 years$9,592$8,856$8,172$7,538$6,952$5,424
9 years$8,440$7,710$7,039$6,421$5,855$4,406
10 years$7,519$6,796$6,136$5,535$4,988$3,618
11 years$6,766$6,050$5,402$4,817$4,290$2,996
12 years$6,139$5,431$4,794$4,225$3,718$2,497
13 years$5,608$4,908$4,284$3,730$3,242$2,093
14 years$5,154$4,461$3,849$3,311$2,842$1,762
15 years$4,761$4,075$3,475$2,953$2,502$1,488
16 years$4,417$3,739$3,151$2,644$2,211$1,261
17 years$4,114$3,443$2,867$2,376$1,961$1,071
18 years$3,845$3,182$2,617$2,141$1,744$912
19 years$3,605$2,949$2,396$1,935$1,554$777
20 years$3,388$2,740$2,199$1,752$1,388$664
21 years$3,193$2,552$2,022$1,590$1,242$568
22 years$3,016$2,383$1,864$1,446$1,113$486
23 years$2,854$2,228$1,721$1,317$999$416
24 years$2,706$2,088$1,592$1,201$898$357
25 years$2,570$1,959$1,474$1,097$808$306
26 years$2,445$1,841$1,367$1,003$728$263
27 years$2,329$1,733$1,270$918$657$226
28 years$2,222$1,633$1,180$841$592$194
29 years$2,122$1,541$1,098$771$535$167
30 years$2,029$1,455$1,023$708$483$143
31 years$1,943$1,375$954$650$437$123
32 years$1,862$1,301$890$597$395$106
33 years$1,785$1,232$831$549$358$91
34 years$1,714$1,168$776$505$324$78
35 years$1,647$1,108$726$465$293$68
36 years$1,583$1,052$679$429$266$58
37 years$1,524$999$636$395$241$50
38 years$1,467$949$595$364$218$43
39 years$1,414$903$558$336$198$37
40 years$1,363$859$523$310$180$32
41 years$1,315$817$490$286$163$27
42 years$1,269$778$460$264$148$24
43 years$1,226$742$431$243$134$20
44 years$1,185$707$405$225$122$18
45 years$1,145$674$380$207$111$15
46 years$1,108$643$357$192$100$13
47 years$1,072$614$335$177$91$11
48 years$1,038$586$315$164$83$10
49 years$1,005$560$296$151$75$8
50 years$973$534$279$140$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $997,000, adding $4,314 every year, while hoping to spend $24,222 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: 40/37/23 Blend
71$997,000$997,000$997,000$997,000
72$1,103,144$1,050,303$1,034,849$1,139,612
73$1,189,893$1,075,996$1,043,745$1,191,952
74$1,284,678$1,102,136$1,052,126$1,245,925
75$1,388,294$1,128,719$1,059,951$1,303,833
76$1,501,615$1,155,741$1,067,175$1,366,047
77$1,625,603$1,183,197$1,073,749$1,432,980
78$1,761,320$1,211,078$1,079,625$1,505,083
79$1,909,931$1,239,378$1,084,749$1,582,856
80$2,072,724$1,268,087$1,089,067$1,666,850
81$2,251,112$1,297,193$1,092,522$1,757,669
82$2,446,655$1,326,686$1,095,051$1,855,982
83$2,661,071$1,356,550$1,096,592$1,962,525
84$2,896,250$1,386,771$1,097,078$2,078,111
85$3,154,276$1,417,331$1,096,438$2,203,634
86$3,437,442$1,448,210$1,094,599$2,340,080
87$3,748,276$1,479,388$1,091,483$2,488,537
88$4,089,562$1,510,840$1,087,010$2,650,203
89$4,464,367$1,542,540$1,081,094$2,826,401
90$4,876,068$1,574,460$1,073,646$3,018,587
91$5,328,387$1,606,569$1,064,574$3,228,366
92$5,825,424$1,638,833$1,053,778$3,457,511
93$6,371,696$1,671,214$1,041,158$3,707,973
94$6,972,177$1,703,672$1,026,606$3,981,905
95$7,632,351$1,736,164$1,010,009$4,281,679
96$8,358,256$1,768,641$991,249$4,609,912
97$9,156,547$1,801,053$970,205$4,969,486
98$10,034,555$1,833,345$946,747$5,363,583
99$11,000,356$1,865,455$920,740$5,795,707
100$12,062,851$1,897,322$892,043$6,269,723