Can I retire at age 72 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$102,398$101,486$100,596$99,727$98,879$95,257
2 years$50,692$49,748$48,833$47,946$47,085$43,477
3 years$33,459$32,511$31,598$30,719$29,873$26,391
4 years$24,844$23,899$22,995$22,132$21,306$17,977
5 years$19,677$18,737$17,845$16,999$16,196$13,029
6 years$16,233$15,300$14,422$13,594$12,815$9,813
7 years$13,774$12,849$11,985$11,177$10,422$7,583
8 years$11,930$11,014$10,164$9,376$8,646$5,968
9 years$10,497$9,590$8,754$7,986$7,282$4,761
10 years$9,352$8,453$7,632$6,884$6,204$3,836
11 years$8,415$7,525$6,719$5,991$5,336$3,116
12 years$7,635$6,754$5,963$5,255$4,624$2,546
13 years$6,975$6,104$5,328$4,640$4,032$2,091
14 years$6,410$5,548$4,787$4,118$3,535$1,724
15 years$5,921$5,068$4,322$3,673$3,112$1,426
16 years$5,494$4,650$3,918$3,289$2,750$1,182
17 years$5,117$4,283$3,566$2,955$2,439$982
18 years$4,782$3,957$3,255$2,663$2,168$818
19 years$4,483$3,668$2,980$2,406$1,933$682
20 years$4,214$3,408$2,735$2,179$1,726$569
21 years$3,971$3,174$2,515$1,978$1,545$475
22 years$3,751$2,963$2,318$1,798$1,385$397
23 years$3,550$2,771$2,141$1,638$1,243$333
24 years$3,366$2,597$1,980$1,494$1,117$278
25 years$3,197$2,437$1,834$1,364$1,005$233
26 years$3,041$2,290$1,701$1,247$906$195
27 years$2,897$2,155$1,579$1,142$817$164
28 years$2,764$2,031$1,468$1,046$737$137
29 years$2,640$1,916$1,366$959$665$115
30 years$2,524$1,810$1,272$880$601$97
31 years$2,416$1,711$1,186$809$543$81
32 years$2,315$1,619$1,107$743$492$68
33 years$2,221$1,533$1,033$683$445$57
34 years$2,132$1,453$966$629$403$48
35 years$2,048$1,378$903$579$365$40
36 years$1,969$1,308$844$533$331$34
37 years$1,895$1,242$790$491$300$28
38 years$1,825$1,180$740$453$272$24
39 years$1,758$1,123$693$417$246$20
40 years$1,695$1,068$650$385$223$17
41 years$1,635$1,017$609$355$203$14
42 years$1,579$968$572$328$184$12
43 years$1,525$922$536$303$167$10
44 years$1,473$879$504$279$152$8
45 years$1,424$839$473$258$138$7
46 years$1,378$800$444$238$125$6
47 years$1,333$763$417$220$113$5
48 years$1,290$729$392$203$103$4
49 years$1,250$696$369$188$94$3
50 years$1,211$665$346$174$85$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $1,240,000, adding $6,176 every year, while hoping to spend $29,925 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: 54/40/6 Blend
71$1,240,000$1,240,000$1,240,000$1,240,000
72$1,372,851$1,307,131$1,287,911$1,444,803
73$1,481,041$1,339,340$1,299,216$1,526,331
74$1,599,265$1,372,125$1,309,896$1,611,179
75$1,728,512$1,405,481$1,319,900$1,702,788
76$1,869,876$1,439,405$1,329,172$1,801,802
77$2,024,558$1,473,891$1,337,654$1,908,931
78$2,193,882$1,508,931$1,345,285$2,024,955
79$2,379,306$1,544,516$1,352,000$2,150,735
80$2,582,435$1,580,637$1,357,732$2,287,218
81$2,805,037$1,617,282$1,362,410$2,435,446
82$3,049,059$1,654,438$1,365,959$2,596,567
83$3,316,646$1,692,088$1,368,301$2,771,847
84$3,610,158$1,730,215$1,369,354$2,962,679
85$3,932,199$1,768,799$1,369,031$3,170,597
86$4,285,632$1,807,819$1,367,243$3,397,292
87$4,673,614$1,847,251$1,363,893$3,644,625
88$5,099,622$1,887,065$1,358,883$3,914,648
89$5,567,486$1,927,234$1,352,109$4,209,622
90$6,081,425$1,967,724$1,343,459$4,532,036
91$6,646,087$2,008,498$1,332,821$4,884,635
92$7,266,590$2,049,518$1,320,074$5,270,440
93$7,948,578$2,090,739$1,305,092$5,692,783
94$8,698,263$2,132,116$1,287,742$6,155,334
95$9,522,492$2,173,596$1,267,888$6,662,138
96$10,428,809$2,215,124$1,245,385$7,217,651
97$11,425,523$2,256,641$1,220,080$7,826,784
98$12,521,790$2,298,080$1,191,817$8,494,948
99$13,727,699$2,339,373$1,160,429$9,228,107
100$15,054,364$2,380,442$1,125,744$10,032,833