Can I retire at age 72 with 1,340,000?

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 $1,340,000?

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%
1 years$110,656$109,670$108,709$107,770$106,853$104,186
2 years$54,780$53,760$52,771$51,813$50,883$48,212
3 years$36,157$35,133$34,146$33,197$32,282$29,692
4 years$26,848$25,826$24,850$23,916$23,024$20,534
5 years$21,263$20,248$19,285$18,370$17,502$15,120
6 years$17,542$16,534$15,585$14,691$13,849$11,576
7 years$14,885$13,885$12,951$12,078$11,263$9,100
8 years$12,893$11,902$10,983$10,132$9,344$7,290
9 years$11,344$10,363$9,460$8,630$7,869$5,922
10 years$10,106$9,135$8,248$7,439$6,705$4,863
11 years$9,093$8,132$7,261$6,474$5,766$4,026
12 years$8,250$7,299$6,444$5,679$4,997$3,356
13 years$7,538$6,596$5,757$5,014$4,357$2,813
14 years$6,927$5,996$5,173$4,451$3,820$2,368
15 years$6,399$5,477$4,670$3,969$3,363$2,000
16 years$5,937$5,025$4,234$3,554$2,972$1,695
17 years$5,529$4,628$3,853$3,193$2,635$1,440
18 years$5,168$4,276$3,517$2,878$2,343$1,225
19 years$4,845$3,963$3,220$2,600$2,089$1,045
20 years$4,554$3,683$2,955$2,355$1,866$892
21 years$4,292$3,430$2,718$2,137$1,670$763
22 years$4,053$3,202$2,505$1,943$1,496$653
23 years$3,836$2,995$2,313$1,770$1,343$559
24 years$3,637$2,806$2,139$1,614$1,207$480
25 years$3,455$2,633$1,981$1,474$1,086$411
26 years$3,286$2,475$1,838$1,348$979$353
27 years$3,131$2,329$1,706$1,234$882$303
28 years$2,987$2,195$1,586$1,130$796$261
29 years$2,853$2,071$1,476$1,037$719$224
30 years$2,728$1,955$1,375$951$650$193
31 years$2,611$1,849$1,282$874$587$166
32 years$2,502$1,749$1,196$803$531$142
33 years$2,400$1,656$1,117$738$481$123
34 years$2,304$1,570$1,043$679$435$105
35 years$2,213$1,489$976$625$394$91
36 years$2,128$1,413$913$576$357$78
37 years$2,048$1,342$854$531$324$67
38 years$1,972$1,276$800$489$294$58
39 years$1,900$1,213$749$451$266$50
40 years$1,832$1,154$702$416$241$43
41 years$1,767$1,099$659$384$219$37
42 years$1,706$1,046$618$354$199$32
43 years$1,648$997$580$327$180$27
44 years$1,592$950$544$302$164$24
45 years$1,539$906$511$279$149$20
46 years$1,489$864$480$258$135$17
47 years$1,441$825$451$238$123$15
48 years$1,394$788$424$220$111$13
49 years$1,350$752$398$203$101$11
50 years$1,308$718$374$188$92$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $1,340,000, adding $6,877 every year, while hoping to spend $20,052 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: 39/50/11 Blend
71$1,340,000$1,340,000$1,340,000$1,340,000
72$1,483,774$1,412,754$1,391,984$1,536,451
73$1,613,783$1,460,643$1,417,280$1,622,253
74$1,756,382$1,510,208$1,442,752$1,712,477
75$1,912,833$1,561,507$1,468,383$1,809,584
76$2,084,526$1,614,606$1,494,159$1,914,203
77$2,272,994$1,669,568$1,520,060$2,027,026
78$2,479,926$1,726,463$1,546,068$2,148,811
79$2,707,180$1,785,361$1,572,162$2,280,392
80$2,956,804$1,846,336$1,598,322$2,422,685
81$3,231,055$1,909,463$1,624,522$2,576,698
82$3,532,418$1,974,822$1,650,739$2,743,538
83$3,863,631$2,042,495$1,676,946$2,924,421
84$4,227,712$2,112,568$1,703,114$3,120,686
85$4,627,984$2,185,129$1,729,214$3,333,805
86$5,068,109$2,260,271$1,755,213$3,565,395
87$5,552,120$2,338,088$1,781,077$3,817,238
88$6,084,463$2,418,682$1,806,770$4,091,291
89$6,670,035$2,502,154$1,832,253$4,389,709
90$7,314,232$2,588,612$1,857,487$4,714,863
91$8,022,998$2,678,169$1,882,427$5,069,361
92$8,802,883$2,770,939$1,907,028$5,456,075
93$9,661,106$2,867,043$1,931,241$5,878,164
94$10,605,617$2,966,607$1,955,017$6,339,105
95$11,645,180$3,069,760$1,978,299$6,842,726
96$12,789,448$3,176,638$2,001,032$7,393,242
97$14,049,060$3,287,382$2,023,155$7,995,292
98$15,435,738$3,402,138$2,044,605$8,653,982
99$16,962,398$3,521,057$2,065,314$9,374,937
100$18,643,272$3,644,298$2,085,211$10,164,347