Can I retire at age 72 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$81,093$80,370$79,666$78,978$78,306$77,943
2 years$40,145$39,397$38,673$37,970$37,289$36,922
3 years$26,497$25,747$25,024$24,328$23,657$23,299
4 years$19,675$18,926$18,211$17,527$16,873$16,525
5 years$15,583$14,839$14,132$13,462$12,826$12,491
6 years$12,855$12,117$11,421$10,766$10,149$9,825
7 years$10,908$10,176$9,491$8,851$8,254$7,943
8 years$9,448$8,722$8,049$7,425$6,847$6,548
9 years$8,313$7,594$6,933$6,325$5,767$5,480
10 years$7,406$6,694$6,044$5,452$4,913$4,639
11 years$6,664$5,959$5,321$4,745$4,226$3,963
12 years$6,046$5,349$4,722$4,162$3,662$3,411
13 years$5,524$4,834$4,219$3,674$3,193$2,954
14 years$5,077$4,394$3,791$3,262$2,799$2,571
15 years$4,689$4,014$3,423$2,909$2,465$2,247
16 years$4,351$3,683$3,103$2,604$2,178$1,972
17 years$4,052$3,392$2,824$2,340$1,931$1,735
18 years$3,787$3,134$2,578$2,109$1,717$1,531
19 years$3,550$2,904$2,360$1,906$1,531$1,354
20 years$3,338$2,699$2,166$1,726$1,367$1,200
21 years$3,145$2,514$1,992$1,566$1,223$1,065
22 years$2,971$2,347$1,836$1,424$1,097$947
23 years$2,811$2,195$1,695$1,297$984$843
24 years$2,666$2,056$1,568$1,183$885$752
25 years$2,532$1,930$1,452$1,080$796$671
26 years$2,408$1,814$1,347$988$717$599
27 years$2,294$1,707$1,251$904$647$536
28 years$2,189$1,608$1,163$828$583$479
29 years$2,090$1,517$1,082$760$527$429
30 years$1,999$1,433$1,008$697$476$384
31 years$1,913$1,355$939$640$430$344
32 years$1,834$1,282$877$588$389$309
33 years$1,759$1,214$818$541$352$277
34 years$1,688$1,150$765$498$319$248
35 years$1,622$1,091$715$458$289$223
36 years$1,560$1,036$669$422$262$200
37 years$1,501$984$626$389$237$180
38 years$1,445$935$586$358$215$161
39 years$1,392$889$549$331$195$145
40 years$1,343$846$515$305$177$130
41 years$1,295$805$483$281$161$117
42 years$1,250$767$453$260$146$105
43 years$1,207$731$425$240$132$95
44 years$1,167$696$399$221$120$85
45 years$1,128$664$374$204$109$77
46 years$1,091$633$352$189$99$69
47 years$1,056$605$330$174$90$62
48 years$1,022$577$311$161$82$56
49 years$990$551$292$149$74$50
50 years$959$526$274$138$67$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $982,000, adding $6,086 every year, while hoping to spend $47,432 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: 39/36/25 Blend
71$982,000$982,000$982,000$982,000
72$1,088,442$1,036,396$1,021,175$1,122,608
73$1,148,995$1,036,712$1,004,917$1,148,285
74$1,214,136$1,035,454$986,524$1,171,158
75$1,284,281$1,032,494$965,876$1,194,961
76$1,359,890$1,027,698$942,845$1,219,805
77$1,441,465$1,020,922$917,297$1,245,820
78$1,529,562$1,012,015$889,094$1,273,150
79$1,624,788$1,000,815$858,090$1,301,958
80$1,727,813$987,151$824,132$1,332,428
81$1,839,371$970,842$787,061$1,364,766
82$1,960,270$951,697$746,711$1,399,205
83$2,091,400$929,512$702,908$1,436,004
84$2,233,737$904,072$655,470$1,475,457
85$2,388,356$875,150$604,206$1,517,888
86$2,556,440$842,504$548,919$1,563,666
87$2,739,289$805,879$489,400$1,613,198
88$2,938,335$765,005$425,433$1,666,943
89$3,155,152$719,598$356,792$1,725,410
90$3,391,474$669,354$283,241$1,789,170
91$3,649,207$613,955$204,532$1,858,859
92$3,930,450$553,063$120,408$1,935,184
93$4,237,515$486,322$30,600$2,018,934
94$4,572,944$413,354$0$2,110,989
95$4,939,537$333,762$0$2,229,728
96$5,340,378$247,124$0$2,368,678
97$5,778,861$152,998$0$2,520,958
98$6,258,723$50,912$0$2,687,997
99$6,784,078$0$0$2,871,375
100$7,359,459$0$0$3,096,464