Can I retire at age 72 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$87,534$86,754$85,993$85,251$84,526$82,684
2 years$43,334$42,527$41,744$40,986$40,250$38,404
3 years$28,602$27,792$27,011$26,260$25,537$23,743
4 years$21,238$20,430$19,657$18,919$18,213$16,487
5 years$16,820$16,017$15,255$14,532$13,845$12,191
6 years$13,876$13,079$12,328$11,621$10,955$9,374
7 years$11,774$10,984$10,245$9,554$8,909$7,402
8 years$10,199$9,415$8,688$8,015$7,391$5,958
9 years$8,974$8,198$7,483$6,827$6,225$4,863
10 years$7,994$7,226$6,524$5,885$5,304$4,013
11 years$7,193$6,433$5,744$5,122$4,561$3,340
12 years$6,526$5,774$5,097$4,492$3,953$2,799
13 years$5,963$5,218$4,554$3,966$3,447$2,358
14 years$5,480$4,743$4,092$3,521$3,021$1,996
15 years$5,062$4,333$3,695$3,140$2,660$1,695
16 years$4,696$3,975$3,350$2,811$2,351$1,445
17 years$4,374$3,661$3,048$2,526$2,085$1,234
18 years$4,088$3,383$2,782$2,276$1,854$1,057
19 years$3,832$3,135$2,547$2,057$1,652$907
20 years$3,603$2,913$2,338$1,863$1,476$779
21 years$3,395$2,714$2,150$1,691$1,321$670
22 years$3,206$2,533$1,982$1,537$1,184$577
23 years$3,035$2,369$1,830$1,400$1,063$497
24 years$2,877$2,220$1,692$1,277$955$429
25 years$2,733$2,083$1,567$1,166$859$371
26 years$2,600$1,958$1,454$1,066$774$320
27 years$2,477$1,843$1,350$976$698$277
28 years$2,363$1,736$1,255$894$630$239
29 years$2,256$1,638$1,168$820$569$207
30 years$2,158$1,547$1,088$753$514$179
31 years$2,065$1,462$1,014$691$465$155
32 years$1,979$1,384$946$635$420$134
33 years$1,898$1,310$883$584$380$116
34 years$1,822$1,242$825$537$344$101
35 years$1,751$1,178$772$495$312$87
36 years$1,684$1,118$722$456$283$76
37 years$1,620$1,062$676$420$256$66
38 years$1,560$1,009$633$387$232$57
39 years$1,503$960$593$357$211$49
40 years$1,449$913$556$329$191$43
41 years$1,398$869$521$304$173$37
42 years$1,350$828$489$280$157$32
43 years$1,303$789$459$259$143$28
44 years$1,259$752$430$239$130$24
45 years$1,218$717$404$221$118$21
46 years$1,178$684$380$204$107$18
47 years$1,140$653$357$188$97$16
48 years$1,103$623$335$174$88$14
49 years$1,068$595$315$161$80$12
50 years$1,035$568$296$149$73$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $1,060,000, adding $3,068 every year, while hoping to spend $25,942 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: 74/8/18 Blend
71$1,060,000$1,060,000$1,060,000$1,060,000
72$1,171,285$1,115,105$1,098,675$1,252,855
73$1,263,154$1,142,143$1,107,878$1,334,382
74$1,363,524$1,169,636$1,116,521$1,420,221
75$1,473,235$1,197,580$1,124,556$1,513,604
76$1,593,211$1,225,968$1,131,935$1,615,277
77$1,724,471$1,254,792$1,138,607$1,726,058
78$1,868,135$1,284,045$1,144,518$1,846,852
79$2,025,437$1,313,716$1,149,612$1,978,653
80$2,197,737$1,343,793$1,153,829$2,122,559
81$2,386,531$1,374,264$1,157,108$2,279,776
82$2,593,468$1,405,114$1,159,381$2,451,636
83$2,820,364$1,436,326$1,160,582$2,639,605
84$3,069,216$1,467,882$1,160,637$2,845,299
85$3,342,229$1,499,761$1,159,471$3,070,499
86$3,641,828$1,531,940$1,157,005$3,317,165
87$3,970,684$1,564,395$1,153,155$3,587,459
88$4,331,742$1,597,099$1,147,833$3,883,764
89$4,728,243$1,630,020$1,140,949$4,208,703
90$5,163,759$1,663,126$1,132,406$4,565,168
91$5,642,224$1,696,381$1,122,104$4,956,347
92$6,167,974$1,729,746$1,109,937$5,385,752
93$6,745,783$1,763,179$1,095,795$5,857,252
94$7,380,911$1,796,634$1,079,563$6,375,113
95$8,079,155$1,830,060$1,061,119$6,944,033
96$8,846,899$1,863,403$1,040,337$7,569,192
97$9,691,179$1,896,606$1,017,085$8,256,298
98$10,619,746$1,929,606$991,223$9,011,640
99$11,641,138$1,962,335$962,607$9,842,150
100$12,764,765$1,994,720$931,085$10,755,465