Can I retire at age 72 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$109,004$108,033$107,086$106,161$105,259$102,672
2 years$53,963$52,958$51,984$51,039$50,123$47,534
3 years$35,618$34,608$33,637$32,701$31,800$29,288
4 years$26,447$25,441$24,479$23,559$22,680$20,265
5 years$20,946$19,946$18,997$18,096$17,241$14,930
6 years$17,280$16,287$15,352$14,471$13,642$11,437
7 years$14,662$13,678$12,758$11,898$11,095$8,995
8 years$12,700$11,725$10,820$9,981$9,204$7,210
9 years$11,175$10,208$9,319$8,501$7,751$5,861
10 years$9,955$8,998$8,124$7,328$6,604$4,815
11 years$8,958$8,011$7,153$6,378$5,680$3,990
12 years$8,127$7,190$6,348$5,594$4,922$3,328
13 years$7,425$6,498$5,671$4,939$4,292$2,791
14 years$6,824$5,906$5,096$4,384$3,763$2,351
15 years$6,303$5,395$4,601$3,910$3,313$1,987
16 years$5,848$4,950$4,171$3,501$2,928$1,685
17 years$5,447$4,559$3,796$3,146$2,596$1,433
18 years$5,091$4,213$3,465$2,835$2,308$1,220
19 years$4,772$3,904$3,172$2,561$2,057$1,041
20 years$4,486$3,628$2,911$2,320$1,838$890
21 years$4,228$3,379$2,678$2,105$1,645$761
22 years$3,993$3,154$2,468$1,914$1,474$652
23 years$3,779$2,950$2,279$1,743$1,323$559
24 years$3,583$2,764$2,107$1,590$1,189$480
25 years$3,403$2,594$1,952$1,452$1,070$412
26 years$3,237$2,438$1,810$1,328$964$354
27 years$3,084$2,294$1,681$1,215$869$304
28 years$2,942$2,162$1,563$1,114$784$262
29 years$2,810$2,040$1,454$1,021$708$225
30 years$2,687$1,926$1,355$937$640$194
31 years$2,572$1,821$1,263$861$579$167
32 years$2,465$1,723$1,178$791$523$143
33 years$2,364$1,632$1,100$727$474$124
34 years$2,269$1,546$1,028$669$429$106
35 years$2,180$1,467$961$616$388$92
36 years$2,096$1,392$899$567$352$79
37 years$2,017$1,322$841$523$319$68
38 years$1,943$1,257$788$482$289$59
39 years$1,872$1,195$738$444$262$50
40 years$1,805$1,137$692$410$238$43
41 years$1,741$1,082$649$378$216$37
42 years$1,681$1,031$609$349$196$32
43 years$1,623$982$571$322$178$28
44 years$1,568$936$536$297$161$24
45 years$1,516$893$503$275$146$21
46 years$1,466$852$473$254$133$18
47 years$1,419$813$444$234$121$15
48 years$1,374$776$417$217$110$13
49 years$1,330$741$392$200$100$11
50 years$1,289$708$369$185$90$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $1,320,000, adding $4,587 every year, while hoping to spend $41,403 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: 56/30/14 Blend
71$1,320,000$1,320,000$1,320,000$1,320,000
72$1,459,371$1,389,411$1,368,951$1,535,567
73$1,564,175$1,413,440$1,370,759$1,611,799
74$1,678,281$1,437,259$1,371,239$1,689,887
75$1,802,594$1,460,813$1,370,304$1,773,990
76$1,938,110$1,484,045$1,367,861$1,864,691
77$2,085,927$1,506,892$1,363,814$1,962,632
78$2,247,249$1,529,288$1,358,060$2,068,523
79$2,423,407$1,551,161$1,350,493$2,183,146
80$2,615,860$1,572,434$1,341,000$2,307,362
81$2,826,220$1,593,025$1,329,466$2,442,122
82$3,056,259$1,612,847$1,315,767$2,588,475
83$3,307,926$1,631,806$1,299,774$2,747,577
84$3,583,372$1,649,802$1,281,354$2,920,703
85$3,884,961$1,666,727$1,260,365$3,109,258
86$4,215,299$1,682,469$1,236,659$3,314,795
87$4,577,255$1,696,905$1,210,082$3,539,021
88$4,973,988$1,709,906$1,180,473$3,783,824
89$5,408,978$1,721,335$1,147,662$4,051,284
90$5,886,058$1,731,045$1,111,473$4,343,693
91$6,409,449$1,738,879$1,071,721$4,663,582
92$6,983,801$1,744,672$1,028,211$5,013,739
93$7,614,235$1,748,248$980,743$5,397,241
94$8,306,393$1,749,418$929,104$5,817,480
95$9,066,490$1,747,985$873,074$6,278,197
96$9,901,372$1,743,735$812,421$6,783,516
97$10,818,579$1,736,446$746,905$7,337,986
98$11,826,421$1,725,878$676,273$7,946,623
99$12,934,049$1,711,780$600,261$8,614,958
100$14,151,547$1,693,882$518,595$9,349,090