Can I retire at age 72 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$81,671$80,943$80,233$79,541$78,864$77,846
2 years$40,431$39,678$38,948$38,241$37,554$36,531
3 years$26,686$25,930$25,202$24,501$23,826$22,828
4 years$19,815$19,061$18,341$17,652$16,993$16,028
5 years$15,694$14,944$14,233$13,558$12,918$11,989
6 years$12,947$12,203$11,502$10,843$10,221$9,330
7 years$10,986$10,248$9,559$8,914$8,313$7,459
8 years$9,515$8,785$8,106$7,478$6,896$6,080
9 years$8,373$7,649$6,982$6,370$5,808$5,028
10 years$7,459$6,742$6,087$5,491$4,948$4,206
11 years$6,712$6,002$5,359$4,779$4,256$3,549
12 years$6,089$5,387$4,756$4,191$3,688$3,016
13 years$5,563$4,868$4,249$3,700$3,216$2,579
14 years$5,113$4,425$3,818$3,285$2,819$2,215
15 years$4,723$4,042$3,447$2,929$2,482$1,911
16 years$4,382$3,709$3,125$2,623$2,194$1,653
17 years$4,081$3,416$2,844$2,357$1,945$1,435
18 years$3,814$3,156$2,596$2,124$1,730$1,248
19 years$3,576$2,925$2,377$1,919$1,542$1,088
20 years$3,361$2,718$2,181$1,738$1,377$951
21 years$3,168$2,532$2,006$1,577$1,232$831
22 years$2,992$2,363$1,849$1,434$1,104$728
23 years$2,831$2,210$1,707$1,306$991$639
24 years$2,685$2,071$1,579$1,191$891$561
25 years$2,550$1,944$1,462$1,088$802$493
26 years$2,426$1,827$1,356$995$722$433
27 years$2,311$1,719$1,259$911$651$381
28 years$2,204$1,620$1,171$834$588$335
29 years$2,105$1,528$1,090$765$531$295
30 years$2,013$1,443$1,015$702$479$260
31 years$1,927$1,364$946$645$433$230
32 years$1,847$1,291$883$593$392$202
33 years$1,771$1,223$824$545$355$179
34 years$1,700$1,159$770$501$321$158
35 years$1,634$1,099$720$462$291$139
36 years$1,571$1,043$674$425$264$123
37 years$1,511$991$630$392$239$108
38 years$1,455$942$590$361$217$96
39 years$1,402$895$553$333$196$85
40 years$1,352$852$518$307$178$75
41 years$1,304$811$486$283$162$66
42 years$1,259$772$456$261$147$58
43 years$1,216$736$428$241$133$51
44 years$1,175$701$402$223$121$46
45 years$1,136$669$377$206$110$40
46 years$1,099$638$354$190$100$36
47 years$1,063$609$333$176$90$31
48 years$1,029$581$313$162$82$28
49 years$997$555$294$150$75$25
50 years$966$530$276$139$68$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $989,000, adding $4,279 every year, while hoping to spend $29,919 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: 56/18/26 Blend
71$989,000$989,000$989,000$989,000
72$1,094,292$1,041,875$1,026,545$1,147,550
73$1,174,076$1,061,093$1,029,101$1,203,807
74$1,260,995$1,080,250$1,030,740$1,261,580
75$1,355,746$1,099,312$1,031,399$1,323,906
76$1,459,095$1,118,241$1,031,013$1,391,234
77$1,571,884$1,136,996$1,029,514$1,464,060
78$1,695,043$1,155,536$1,026,829$1,542,927
79$1,829,593$1,173,813$1,022,883$1,628,439
80$1,976,659$1,191,777$1,017,598$1,721,259
81$2,137,481$1,209,376$1,010,889$1,822,118
82$2,313,421$1,226,553$1,002,671$1,931,825
83$2,505,981$1,243,245$992,852$2,051,270
84$2,716,814$1,259,388$981,336$2,181,435
85$2,947,743$1,274,911$968,024$2,323,405
86$3,200,771$1,289,740$952,811$2,478,375
87$3,478,108$1,303,795$935,588$2,647,663
88$3,782,184$1,316,991$916,240$2,832,723
89$4,115,680$1,329,236$894,647$3,035,159
90$4,481,546$1,340,435$870,684$3,256,740
91$4,883,030$1,350,483$844,219$3,499,417
92$5,323,714$1,359,272$815,115$3,765,342
93$5,807,540$1,366,683$783,229$4,056,886
94$6,338,852$1,372,593$748,409$4,376,668
95$6,922,434$1,376,869$710,500$4,727,573
96$7,563,557$1,379,371$669,337$5,112,782
97$8,268,029$1,379,949$624,749$5,535,806
98$9,042,246$1,378,445$576,556$6,000,515
99$9,893,255$1,374,689$524,571$6,511,175
100$10,828,822$1,368,504$468,599$7,072,491