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%15.6%
1 years$82,331$81,598$80,882$80,184$79,502$77,675
2 years$40,758$39,999$39,263$38,550$37,858$36,027
3 years$26,902$26,140$25,406$24,699$24,019$22,242
4 years$19,976$19,216$18,489$17,795$17,130$15,420
5 years$15,821$15,065$14,348$13,668$13,022$11,384
6 years$13,052$12,302$11,596$10,930$10,304$8,740
7 years$11,075$10,331$9,636$8,986$8,380$6,890
8 years$9,592$8,856$8,172$7,538$6,952$5,535
9 years$8,440$7,710$7,039$6,421$5,855$4,510
10 years$7,519$6,796$6,136$5,535$4,988$3,715
11 years$6,766$6,050$5,402$4,817$4,290$3,086
12 years$6,139$5,431$4,794$4,225$3,718$2,581
13 years$5,608$4,908$4,284$3,730$3,242$2,170
14 years$5,154$4,461$3,849$3,311$2,842$1,833
15 years$4,761$4,075$3,475$2,953$2,502$1,554
16 years$4,417$3,739$3,151$2,644$2,211$1,321
17 years$4,114$3,443$2,867$2,376$1,961$1,126
18 years$3,845$3,182$2,617$2,141$1,744$962
19 years$3,605$2,949$2,396$1,935$1,554$824
20 years$3,388$2,740$2,199$1,752$1,388$706
21 years$3,193$2,552$2,022$1,590$1,242$606
22 years$3,016$2,383$1,864$1,446$1,113$521
23 years$2,854$2,228$1,721$1,317$999$448
24 years$2,706$2,088$1,592$1,201$898$385
25 years$2,570$1,959$1,474$1,097$808$332
26 years$2,445$1,841$1,367$1,003$728$286
27 years$2,329$1,733$1,270$918$657$247
28 years$2,222$1,633$1,180$841$592$213
29 years$2,122$1,541$1,098$771$535$184
30 years$2,029$1,455$1,023$708$483$159
31 years$1,943$1,375$954$650$437$137
32 years$1,862$1,301$890$597$395$118
33 years$1,785$1,232$831$549$358$102
34 years$1,714$1,168$776$505$324$88
35 years$1,647$1,108$726$465$293$76
36 years$1,583$1,052$679$429$266$66
37 years$1,524$999$636$395$241$57
38 years$1,467$949$595$364$218$49
39 years$1,414$903$558$336$198$43
40 years$1,363$859$523$310$180$37
41 years$1,315$817$490$286$163$32
42 years$1,269$778$460$264$148$28
43 years$1,226$742$431$243$134$24
44 years$1,185$707$405$225$122$21
45 years$1,145$674$380$207$111$18
46 years$1,108$643$357$192$100$15
47 years$1,072$614$335$177$91$13
48 years$1,038$586$315$164$83$12
49 years$1,005$560$296$151$75$10
50 years$973$534$279$140$68$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $997,000, adding $6,056 every year, while hoping to spend $20,828 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: 69/18/13 Blend
71$997,000$997,000$997,000$997,000
72$1,104,941$1,052,100$1,036,646$1,177,589
73$1,195,484$1,081,492$1,049,213$1,256,048
74$1,294,564$1,111,626$1,061,503$1,338,786
75$1,403,031$1,142,517$1,073,484$1,428,765
76$1,521,818$1,174,178$1,085,124$1,526,693
77$1,651,956$1,206,625$1,096,388$1,633,351
78$1,794,578$1,239,872$1,107,239$1,749,599
79$1,950,931$1,273,932$1,117,638$1,876,384
80$2,122,392$1,308,821$1,127,545$2,014,748
81$2,310,475$1,344,552$1,136,916$2,165,840
82$2,516,847$1,381,139$1,145,707$2,330,926
83$2,743,347$1,418,596$1,153,869$2,511,398
84$2,991,997$1,456,936$1,161,353$2,708,792
85$3,265,028$1,496,173$1,168,106$2,924,797
86$3,564,896$1,536,320$1,174,072$3,161,277
87$3,894,305$1,577,390$1,179,193$3,420,283
88$4,256,236$1,619,394$1,183,408$3,704,076
89$4,653,973$1,662,345$1,186,653$4,015,146
90$5,091,132$1,706,254$1,188,860$4,356,236
91$5,571,699$1,751,132$1,189,958$4,730,370
92$6,100,064$1,796,989$1,189,873$5,140,877
93$6,681,063$1,843,834$1,188,527$5,591,427
94$7,320,027$1,891,677$1,185,838$6,086,063
95$8,022,825$1,940,525$1,181,719$6,629,239
96$8,795,929$1,990,386$1,176,082$7,225,864
97$9,646,464$2,041,265$1,168,831$7,881,346
98$10,582,284$2,093,168$1,159,868$8,601,644
99$11,612,042$2,146,099$1,149,089$9,393,324
100$12,745,272$2,200,060$1,136,385$10,263,622