Can I retire at age 72 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$81,506$80,780$80,071$79,380$78,705$78,045
2 years$40,349$39,598$38,870$38,163$37,478$36,814
3 years$26,632$25,878$25,151$24,452$23,778$23,129
4 years$19,775$19,023$18,304$17,616$16,959$16,330
5 years$15,662$14,914$14,204$13,531$12,892$12,285
6 years$12,921$12,178$11,479$10,821$10,201$9,617
7 years$10,963$10,227$9,539$8,896$8,296$7,736
8 years$9,496$8,767$8,090$7,463$6,882$6,345
9 years$8,356$7,633$6,968$6,357$5,796$5,282
10 years$7,444$6,728$6,075$5,480$4,938$4,447
11 years$6,698$5,990$5,348$4,769$4,247$3,779
12 years$6,077$5,376$4,746$4,183$3,680$3,234
13 years$5,552$4,858$4,241$3,693$3,209$2,784
14 years$5,102$4,416$3,810$3,278$2,813$2,409
15 years$4,713$4,034$3,440$2,924$2,477$2,094
16 years$4,373$3,701$3,119$2,618$2,189$1,825
17 years$4,073$3,409$2,838$2,352$1,941$1,597
18 years$3,806$3,150$2,591$2,120$1,726$1,400
19 years$3,568$2,919$2,372$1,915$1,538$1,230
20 years$3,355$2,713$2,177$1,735$1,374$1,083
21 years$3,161$2,527$2,002$1,574$1,230$955
22 years$2,986$2,359$1,845$1,431$1,102$844
23 years$2,826$2,206$1,704$1,304$989$746
24 years$2,679$2,067$1,576$1,189$889$661
25 years$2,545$1,940$1,459$1,086$800$585
26 years$2,421$1,823$1,354$993$721$519
27 years$2,306$1,716$1,257$909$650$461
28 years$2,200$1,617$1,168$833$586$409
29 years$2,101$1,525$1,087$764$530$364
30 years$2,009$1,440$1,013$701$478$323
31 years$1,923$1,362$944$644$433$288
32 years$1,843$1,288$881$591$391$256
33 years$1,768$1,220$823$544$354$228
34 years$1,697$1,156$769$500$321$203
35 years$1,630$1,097$719$461$290$181
36 years$1,568$1,041$672$424$263$161
37 years$1,508$989$629$391$238$144
38 years$1,452$940$589$360$216$128
39 years$1,400$893$552$332$196$114
40 years$1,349$850$517$306$178$102
41 years$1,302$809$485$283$161$91
42 years$1,257$771$455$261$146$81
43 years$1,214$734$427$241$133$72
44 years$1,173$700$401$222$121$64
45 years$1,134$667$376$205$109$57
46 years$1,097$637$354$190$99$51
47 years$1,061$608$332$175$90$46
48 years$1,027$580$312$162$82$41
49 years$995$554$293$150$74$36
50 years$964$529$276$138$68$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $987,000, adding $6,968 every year, while hoping to spend $46,226 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: 68/18/14 Blend
71$987,000$987,000$987,000$987,000
72$1,094,861$1,042,550$1,027,252$1,165,337
73$1,157,353$1,044,451$1,012,481$1,215,059
74$1,224,670$1,044,896$995,666$1,263,283
75$1,297,255$1,043,764$976,689$1,314,848
76$1,375,595$1,040,929$955,428$1,370,078
77$1,460,225$1,036,254$931,754$1,429,330
78$1,551,734$1,029,596$905,534$1,492,997
79$1,650,767$1,020,803$876,626$1,561,515
80$1,758,036$1,009,713$844,883$1,635,366
81$1,874,321$996,154$810,152$1,715,080
82$2,000,482$979,946$772,272$1,801,243
83$2,137,462$960,895$731,075$1,894,502
84$2,286,303$938,798$686,385$1,995,574
85$2,448,145$913,439$638,019$2,105,246
86$2,624,248$884,589$585,785$2,224,392
87$2,815,995$852,008$529,482$2,353,973
88$3,024,908$815,438$468,901$2,495,052
89$3,252,664$774,609$403,824$2,648,802
90$3,501,105$729,234$334,022$2,816,517
91$3,772,263$679,012$259,257$2,999,629
92$4,068,371$623,621$179,280$3,199,714
93$4,391,890$562,723$93,830$3,418,515
94$4,745,526$495,960$2,637$3,657,954
95$5,132,262$422,954$0$3,920,153
96$5,555,380$343,306$0$4,221,597
97$6,018,493$256,593$0$4,552,068
98$6,525,584$162,370$0$4,914,068
99$7,081,033$60,166$0$5,310,793
100$7,689,668$0$0$5,745,767