Can I retire at age 72 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$101,572$100,667$99,785$98,923$98,082$97,260
2 years$50,283$49,347$48,439$47,559$46,706$45,877
3 years$33,189$32,249$31,343$30,472$29,632$28,823
4 years$24,644$23,706$22,810$21,953$21,134$20,350
5 years$19,518$18,586$17,701$16,862$16,066$15,310
6 years$16,102$15,177$14,305$13,485$12,712$11,985
7 years$13,663$12,745$11,888$11,087$10,338$9,640
8 years$11,834$10,925$10,082$9,300$8,577$7,908
9 years$10,413$9,512$8,683$7,922$7,223$6,582
10 years$9,276$8,385$7,570$6,829$6,154$5,542
11 years$8,347$7,464$6,665$5,943$5,293$4,709
12 years$7,573$6,700$5,915$5,213$4,587$4,030
13 years$6,919$6,055$5,285$4,602$4,000$3,470
14 years$6,359$5,503$4,748$4,085$3,506$3,003
15 years$5,873$5,027$4,287$3,643$3,087$2,609
16 years$5,449$4,613$3,887$3,262$2,728$2,275
17 years$5,076$4,248$3,537$2,931$2,419$1,990
18 years$4,744$3,925$3,229$2,641$2,151$1,745
19 years$4,447$3,638$2,956$2,387$1,917$1,533
20 years$4,180$3,381$2,713$2,162$1,712$1,350
21 years$3,939$3,149$2,495$1,962$1,532$1,190
22 years$3,721$2,939$2,300$1,784$1,374$1,051
23 years$3,521$2,749$2,123$1,625$1,233$930
24 years$3,339$2,576$1,964$1,482$1,108$823
25 years$3,171$2,417$1,819$1,353$997$729
26 years$3,017$2,272$1,687$1,237$898$647
27 years$2,874$2,138$1,566$1,132$810$574
28 years$2,741$2,015$1,456$1,038$731$510
29 years$2,618$1,901$1,355$951$660$453
30 years$2,504$1,795$1,262$873$596$403
31 years$2,397$1,697$1,177$802$539$359
32 years$2,297$1,606$1,098$737$488$319
33 years$2,203$1,520$1,025$678$441$284
34 years$2,115$1,441$958$624$400$253
35 years$2,032$1,367$895$574$362$225
36 years$1,954$1,297$838$529$328$201
37 years$1,880$1,232$784$487$297$179
38 years$1,810$1,171$734$449$269$159
39 years$1,744$1,113$688$414$244$142
40 years$1,682$1,059$645$382$222$127
41 years$1,622$1,008$605$352$201$113
42 years$1,566$960$567$325$182$101
43 years$1,512$915$532$300$166$90
44 years$1,461$872$500$277$150$80
45 years$1,413$832$469$256$136$72
46 years$1,366$793$441$236$124$64
47 years$1,322$757$414$218$112$57
48 years$1,280$723$389$202$102$51
49 years$1,240$690$366$187$93$45
50 years$1,201$659$344$172$84$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $1,230,000, adding $6,558 every year, while hoping to spend $56,878 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: 58/22/20 Blend
71$1,230,000$1,230,000$1,230,000$1,230,000
72$1,362,225$1,297,035$1,277,970$1,433,647
73$1,440,654$1,300,072$1,260,264$1,485,973
74$1,525,176$1,301,351$1,240,059$1,536,262
75$1,616,354$1,300,727$1,217,210$1,589,823
76$1,714,803$1,298,044$1,191,568$1,646,984
77$1,821,202$1,293,137$1,162,975$1,708,107
78$1,936,296$1,285,832$1,131,265$1,773,596
79$2,060,903$1,275,942$1,096,268$1,843,894
80$2,195,924$1,263,272$1,057,801$1,919,495
81$2,342,348$1,247,613$1,015,678$2,000,944
82$2,501,265$1,228,743$969,700$2,088,846
83$2,673,871$1,206,428$919,662$2,183,870
84$2,861,483$1,180,421$865,348$2,286,754
85$3,065,551$1,150,457$806,533$2,398,320
86$3,287,667$1,116,260$742,983$2,519,472
87$3,529,587$1,077,534$674,450$2,651,213
88$3,793,239$1,033,968$600,679$2,794,652
89$4,080,749$985,232$521,400$2,951,015
90$4,394,453$930,976$436,335$3,121,658
91$4,736,925$870,832$345,191$3,308,080
92$5,110,998$804,409$247,661$3,511,940
93$5,519,790$731,295$143,428$3,735,068
94$5,966,735$651,055$32,158$3,979,492
95$6,455,611$563,225$0$4,247,447
96$6,990,581$467,321$0$4,559,885
97$7,576,227$362,827$0$4,909,586
98$8,217,597$249,200$0$5,292,779
99$8,920,247$125,866$0$5,712,884
100$9,690,298$0$0$6,173,671