Can I retire at age 72 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$80,184$79,470$78,773$78,093$77,429$75,959
2 years$39,695$38,956$38,239$37,545$36,871$35,396
3 years$26,201$25,458$24,743$24,055$23,392$21,958
4 years$19,455$18,714$18,007$17,330$16,684$15,301
5 years$15,408$14,672$13,974$13,311$12,683$11,355
6 years$12,711$11,981$11,293$10,645$10,035$8,765
7 years$10,786$10,062$9,385$8,752$8,161$6,949
8 years$9,342$8,625$7,959$7,342$6,771$5,615
9 years$8,220$7,509$6,855$6,254$5,702$4,603
10 years$7,323$6,619$5,976$5,391$4,858$3,815
11 years$6,589$5,893$5,261$4,692$4,178$3,189
12 years$5,979$5,289$4,669$4,115$3,621$2,684
13 years$5,462$4,780$4,172$3,633$3,157$2,272
14 years$5,020$4,345$3,748$3,225$2,768$1,932
15 years$4,637$3,969$3,384$2,876$2,437$1,650
16 years$4,302$3,641$3,068$2,575$2,154$1,413
17 years$4,007$3,354$2,792$2,314$1,910$1,213
18 years$3,745$3,099$2,549$2,085$1,698$1,044
19 years$3,511$2,872$2,333$1,884$1,513$900
20 years$3,300$2,669$2,141$1,707$1,352$777
21 years$3,110$2,486$1,970$1,549$1,210$672
22 years$2,937$2,320$1,815$1,408$1,084$582
23 years$2,780$2,170$1,676$1,282$973$505
24 years$2,636$2,033$1,550$1,170$875$438
25 years$2,503$1,908$1,436$1,068$787$380
26 years$2,381$1,793$1,332$977$709$330
27 years$2,269$1,688$1,237$894$639$287
28 years$2,164$1,590$1,150$819$577$250
29 years$2,067$1,500$1,070$751$521$217
30 years$1,977$1,417$996$689$471$189
31 years$1,892$1,339$929$633$426$165
32 years$1,813$1,267$867$582$385$143
33 years$1,739$1,200$809$535$348$125
34 years$1,669$1,138$756$492$315$109
35 years$1,604$1,079$707$453$286$95
36 years$1,542$1,024$661$417$259$83
37 years$1,484$973$619$385$235$72
38 years$1,429$924$580$354$213$63
39 years$1,377$879$543$327$193$55
40 years$1,328$836$509$301$175$48
41 years$1,281$796$477$278$159$42
42 years$1,236$758$448$257$144$36
43 years$1,194$722$420$237$131$32
44 years$1,154$689$394$219$119$28
45 years$1,115$657$370$202$108$24
46 years$1,079$626$348$187$98$21
47 years$1,044$598$327$172$89$18
48 years$1,010$571$307$159$81$16
49 years$979$545$289$147$73$14
50 years$948$521$271$136$67$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $971,000, adding $5,831 every year, while hoping to spend $29,129 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: 75/8/17 Blend
71$971,000$971,000$971,000$971,000
72$1,076,057$1,024,594$1,009,543$1,152,198
73$1,154,821$1,043,806$1,012,370$1,222,593
74$1,240,644$1,062,983$1,014,315$1,295,561
75$1,334,213$1,082,093$1,015,318$1,374,763
76$1,436,288$1,101,100$1,015,316$1,460,811
77$1,547,703$1,119,968$1,014,243$1,554,383
78$1,669,377$1,138,654$1,012,028$1,656,220
79$1,802,321$1,157,116$1,008,599$1,767,144
80$1,947,650$1,175,307$1,003,879$1,888,057
81$2,106,590$1,193,176$997,789$2,019,955
82$2,280,490$1,210,670$990,242$2,163,933
83$2,470,837$1,227,730$981,153$2,321,201
84$2,679,269$1,244,295$970,428$2,493,090
85$2,907,587$1,260,299$957,970$2,681,068
86$3,157,777$1,275,670$943,678$2,886,751
87$3,432,026$1,290,333$927,447$3,111,922
88$3,732,741$1,304,207$909,165$3,358,545
89$4,062,574$1,317,207$888,715$3,628,784
90$4,424,447$1,329,241$865,978$3,925,025
91$4,821,576$1,340,209$840,824$4,249,896
92$5,257,507$1,350,010$813,121$4,606,295
93$5,736,143$1,358,530$782,731$4,997,414
94$6,261,784$1,365,653$749,507$5,426,774
95$6,839,168$1,371,252$713,298$5,898,251
96$7,473,513$1,375,194$673,944$6,416,120
97$8,170,570$1,377,336$631,279$6,985,093
98$8,936,671$1,377,529$585,130$7,610,361
99$9,778,795$1,375,611$535,315$8,297,646
100$10,704,629$1,371,413$481,645$9,053,253