Can I retire at age 72 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$85,056$84,299$83,560$82,838$82,134$81,378
2 years$42,107$41,323$40,563$39,826$39,111$38,349
3 years$27,793$27,005$26,247$25,517$24,814$24,070
4 years$20,637$19,852$19,101$18,384$17,697$16,977
5 years$16,344$15,564$14,823$14,120$13,453$12,759
6 years$13,484$12,709$11,979$11,292$10,645$9,977
7 years$11,441$10,673$9,955$9,284$8,657$8,016
8 years$9,910$9,149$8,443$7,788$7,182$6,568
9 years$8,720$7,966$7,272$6,634$6,048$5,461
10 years$7,768$7,021$6,339$5,718$5,154$4,593
11 years$6,990$6,251$5,581$4,977$4,432$3,897
12 years$6,342$5,610$4,953$4,365$3,841$3,331
13 years$5,794$5,070$4,425$3,854$3,349$2,865
14 years$5,325$4,609$3,976$3,421$2,936$2,475
15 years$4,918$4,210$3,590$3,051$2,585$2,148
16 years$4,563$3,863$3,255$2,732$2,285$1,870
17 years$4,250$3,557$2,962$2,454$2,026$1,634
18 years$3,972$3,287$2,704$2,212$1,801$1,430
19 years$3,724$3,046$2,475$1,999$1,605$1,255
20 years$3,501$2,831$2,272$1,810$1,434$1,104
21 years$3,299$2,637$2,089$1,643$1,283$972
22 years$3,116$2,461$1,926$1,494$1,150$857
23 years$2,949$2,302$1,778$1,360$1,033$757
24 years$2,796$2,157$1,644$1,241$928$669
25 years$2,655$2,024$1,523$1,133$835$592
26 years$2,526$1,902$1,413$1,036$752$524
27 years$2,407$1,790$1,312$948$678$464
28 years$2,296$1,687$1,219$869$612$412
29 years$2,193$1,592$1,135$797$553$365
30 years$2,097$1,503$1,057$731$499$324
31 years$2,007$1,421$985$672$451$288
32 years$1,923$1,344$919$617$408$256
33 years$1,845$1,273$858$568$370$227
34 years$1,771$1,207$802$522$335$202
35 years$1,701$1,145$750$481$303$180
36 years$1,636$1,086$701$443$275$160
37 years$1,574$1,032$657$408$249$142
38 years$1,516$981$615$376$226$127
39 years$1,461$932$576$347$205$113
40 years$1,408$887$540$320$186$100
41 years$1,359$844$506$295$168$89
42 years$1,311$804$475$272$153$80
43 years$1,266$766$446$251$139$71
44 years$1,224$730$418$232$126$63
45 years$1,183$697$393$214$114$56
46 years$1,144$664$369$198$104$50
47 years$1,107$634$347$183$94$45
48 years$1,072$605$326$169$86$40
49 years$1,038$578$306$156$78$35
50 years$1,006$552$288$144$71$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $1,030,000, adding $2,209 every year, while hoping to spend $30,265 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: 55/17/28 Blend
71$1,030,000$1,030,000$1,030,000$1,030,000
72$1,137,339$1,082,749$1,066,784$1,190,965
73$1,221,145$1,103,602$1,070,319$1,249,047
74$1,312,486$1,124,462$1,072,959$1,308,968
75$1,412,097$1,145,298$1,074,640$1,373,622
76$1,520,790$1,166,076$1,075,299$1,443,476
77$1,639,455$1,186,759$1,074,867$1,519,044
78$1,769,076$1,207,307$1,073,272$1,600,895
79$1,910,734$1,227,677$1,070,439$1,689,654
80$2,065,620$1,247,824$1,066,289$1,786,012
81$2,235,043$1,267,697$1,060,739$1,890,731
82$2,420,448$1,287,245$1,053,704$2,004,651
83$2,623,423$1,306,409$1,045,093$2,128,698
84$2,845,718$1,325,129$1,034,809$2,263,896
85$3,089,260$1,343,339$1,022,755$2,411,371
86$3,356,172$1,360,971$1,008,824$2,572,369
87$3,648,791$1,377,948$992,909$2,748,259
88$3,969,692$1,394,191$974,896$2,940,556
89$4,321,709$1,409,614$954,663$3,150,928
90$4,707,965$1,424,128$932,086$3,381,216
91$5,131,901$1,437,634$907,035$3,633,450
92$5,597,306$1,450,029$879,372$3,909,868
93$6,108,354$1,461,203$848,953$4,212,939
94$6,669,642$1,471,038$815,629$4,545,386
95$7,286,237$1,479,410$779,244$4,910,211
96$7,963,717$1,486,185$739,632$5,310,725
97$8,708,230$1,491,222$696,624$5,750,580
98$9,526,548$1,494,370$650,040$6,233,801
99$10,426,132$1,495,470$599,692$6,764,828
100$11,415,201$1,494,352$545,386$7,348,556