Can I retire at age 72 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$81,010$80,288$79,584$78,897$78,226$76,710
2 years$40,104$39,357$38,633$37,931$37,251$35,729
3 years$26,470$25,720$24,998$24,303$23,633$22,154
4 years$19,655$18,907$18,192$17,509$16,855$15,430
5 years$15,567$14,823$14,118$13,449$12,813$11,445
6 years$12,842$12,104$11,409$10,755$10,139$8,830
7 years$10,897$10,165$9,481$8,842$8,245$6,996
8 years$9,438$8,714$8,041$7,418$6,840$5,650
9 years$8,305$7,587$6,926$6,318$5,761$4,629
10 years$7,398$6,687$6,038$5,446$4,908$3,834
11 years$6,657$5,953$5,316$4,740$4,221$3,203
12 years$6,040$5,343$4,718$4,157$3,658$2,694
13 years$5,518$4,829$4,215$3,670$3,190$2,279
14 years$5,071$4,389$3,787$3,258$2,796$1,937
15 years$4,684$4,010$3,419$2,906$2,462$1,652
16 years$4,346$3,679$3,100$2,602$2,176$1,414
17 years$4,048$3,388$2,821$2,338$1,929$1,213
18 years$3,783$3,131$2,575$2,107$1,716$1,043
19 years$3,547$2,902$2,357$1,904$1,529$899
20 years$3,334$2,696$2,163$1,724$1,366$776
21 years$3,142$2,511$1,990$1,565$1,222$671
22 years$2,968$2,344$1,834$1,423$1,096$580
23 years$2,808$2,193$1,693$1,296$983$503
24 years$2,663$2,054$1,566$1,182$884$436
25 years$2,529$1,928$1,451$1,079$795$378
26 years$2,406$1,812$1,345$987$716$328
27 years$2,292$1,705$1,249$903$646$285
28 years$2,186$1,607$1,161$828$583$248
29 years$2,088$1,516$1,081$759$526$215
30 years$1,997$1,432$1,007$696$476$187
31 years$1,912$1,353$938$640$430$163
32 years$1,832$1,280$876$588$389$142
33 years$1,757$1,213$818$541$352$123
34 years$1,687$1,149$764$497$319$107
35 years$1,620$1,090$714$458$289$94
36 years$1,558$1,035$668$422$262$81
37 years$1,499$983$625$389$237$71
38 years$1,444$934$586$358$215$62
39 years$1,391$888$549$330$195$54
40 years$1,341$845$514$305$177$47
41 years$1,294$804$482$281$160$41
42 years$1,249$766$452$259$146$36
43 years$1,206$730$424$239$132$31
44 years$1,166$696$398$221$120$27
45 years$1,127$663$374$204$109$24
46 years$1,090$633$351$189$99$21
47 years$1,055$604$330$174$90$18
48 years$1,021$577$310$161$81$16
49 years$989$551$292$149$74$14
50 years$958$526$274$138$67$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $981,000, adding $5,949 every year, while hoping to spend $25,239 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: 76/5/19 Blend
71$981,000$981,000$981,000$981,000
72$1,087,198$1,035,205$1,020,000$1,164,609
73$1,171,239$1,059,076$1,027,316$1,240,532
74$1,263,005$1,083,271$1,034,031$1,320,048
75$1,363,259$1,107,779$1,040,098$1,406,565
76$1,472,839$1,132,587$1,045,469$1,500,774
77$1,592,667$1,157,683$1,050,091$1,603,437
78$1,723,761$1,183,051$1,053,911$1,715,394
79$1,867,238$1,208,674$1,056,870$1,837,569
80$2,024,331$1,234,534$1,058,910$1,970,982
81$2,196,396$1,260,610$1,059,967$2,116,756
82$2,384,928$1,286,879$1,059,976$2,276,129
83$2,591,572$1,313,318$1,058,866$2,450,463
84$2,818,140$1,339,898$1,056,566$2,641,260
85$3,066,629$1,366,591$1,052,999$2,850,176
86$3,339,235$1,393,365$1,048,085$3,079,035
87$3,638,382$1,420,184$1,041,741$3,329,847
88$3,966,736$1,447,012$1,033,878$3,604,826
89$4,327,235$1,473,808$1,024,405$3,906,412
90$4,723,115$1,500,527$1,013,225$4,237,296
91$5,157,942$1,527,122$1,000,237$4,600,441
92$5,635,644$1,553,542$985,336$4,999,112
93$6,160,545$1,579,731$968,411$5,436,910
94$6,737,414$1,605,631$949,346$5,917,800
95$7,371,501$1,631,178$928,020$6,446,152
96$8,068,591$1,656,303$904,306$7,026,785
97$8,835,059$1,680,933$878,071$7,665,006
98$9,677,925$1,704,989$849,176$8,366,665
99$10,604,927$1,728,387$817,477$9,138,209
100$11,624,588$1,751,036$782,822$9,986,742