Can I retire at age 72 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$57,227$56,718$56,220$55,735$55,261$53,343
2 years$28,330$27,803$27,291$26,796$26,315$24,402
3 years$18,699$18,169$17,659$17,168$16,695$14,848
4 years$13,885$13,356$12,851$12,369$11,907$10,140
5 years$10,997$10,472$9,973$9,500$9,052$7,368
6 years$9,072$8,551$8,060$7,598$7,162$5,565
7 years$7,698$7,181$6,698$6,246$5,825$4,313
8 years$6,668$6,155$5,680$5,240$4,832$3,404
9 years$5,867$5,359$4,892$4,463$4,069$2,724
10 years$5,226$4,724$4,265$3,847$3,467$2,202
11 years$4,703$4,206$3,755$3,348$2,982$1,794
12 years$4,267$3,775$3,333$2,937$2,584$1,471
13 years$3,898$3,411$2,977$2,593$2,253$1,212
14 years$3,583$3,101$2,675$2,302$1,975$1,003
15 years$3,309$2,833$2,415$2,053$1,739$832
16 years$3,070$2,599$2,190$1,838$1,537$693
17 years$2,860$2,393$1,993$1,651$1,363$578
18 years$2,673$2,212$1,819$1,488$1,212$483
19 years$2,506$2,050$1,665$1,345$1,080$404
20 years$2,355$1,905$1,528$1,218$965$338
21 years$2,220$1,774$1,406$1,105$863$284
22 years$2,096$1,656$1,296$1,005$774$238
23 years$1,984$1,549$1,196$915$695$200
24 years$1,881$1,451$1,106$835$624$168
25 years$1,787$1,362$1,025$762$562$141
26 years$1,700$1,280$950$697$506$119
27 years$1,619$1,205$882$638$456$100
28 years$1,545$1,135$820$585$412$84
29 years$1,475$1,071$763$536$372$71
30 years$1,411$1,011$711$492$336$60
31 years$1,350$956$663$452$304$50
32 years$1,294$905$619$415$275$42
33 years$1,241$857$578$382$249$36
34 years$1,191$812$540$351$225$30
35 years$1,145$770$505$323$204$25
36 years$1,101$731$472$298$185$21
37 years$1,059$694$442$274$167$18
38 years$1,020$660$414$253$152$15
39 years$983$627$388$233$138$13
40 years$947$597$363$215$125$11
41 years$914$568$341$198$113$9
42 years$882$541$320$183$103$8
43 years$852$516$300$169$93$6
44 years$823$491$281$156$85$5
45 years$796$469$264$144$77$5
46 years$770$447$248$133$70$4
47 years$745$427$233$123$63$3
48 years$721$407$219$114$58$3
49 years$698$389$206$105$52$2
50 years$677$372$194$97$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $693,000, adding $6,518 every year, while hoping to spend $37,174 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: 63/28/9 Blend
71$693,000$693,000$693,000$693,000
72$770,409$733,680$722,939$817,061
73$809,438$730,078$707,604$845,420
74$851,202$725,053$690,510$871,450
75$895,941$718,497$671,559$898,926
76$943,917$710,293$650,646$927,987
77$995,420$700,321$627,666$958,787
78$1,050,765$688,449$602,505$991,498
79$1,110,301$674,541$575,047$1,026,310
80$1,174,409$658,450$545,168$1,063,434
81$1,243,507$640,023$512,740$1,103,103
82$1,318,057$619,096$477,629$1,145,577
83$1,398,564$595,497$439,694$1,191,143
84$1,485,584$569,043$398,790$1,240,120
85$1,579,727$539,539$354,763$1,292,861
86$1,681,665$506,783$307,454$1,349,757
87$1,792,136$470,556$256,695$1,411,242
88$1,911,952$430,632$202,312$1,477,796
89$2,042,005$386,767$144,124$1,549,951
90$2,183,277$338,706$81,940$1,628,296
91$2,336,848$286,179$15,562$1,713,483
92$2,503,906$228,902$0$1,806,234
93$2,685,758$166,571$0$1,912,656
94$2,883,842$98,870$0$2,030,264
95$3,099,741$25,462$0$2,158,564
96$3,335,197$0$0$2,298,660
97$3,592,126$0$0$2,468,414
98$3,872,640$0$0$2,662,361
99$4,179,061$0$0$2,874,270
100$4,513,946$0$0$3,105,914