Can I retire at age 72 with 994,000?

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 $994,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$82,084$81,352$80,639$79,943$79,263$77,822
2 years$40,635$39,879$39,145$38,434$37,744$36,297
3 years$26,821$26,061$25,330$24,625$23,947$22,539
4 years$19,915$19,158$18,433$17,741$17,079$15,722
5 years$15,773$15,020$14,305$13,627$12,983$11,680
6 years$13,012$12,265$11,561$10,897$10,273$9,026
7 years$11,041$10,300$9,607$8,959$8,355$7,163
8 years$9,564$8,829$8,147$7,516$6,931$5,795
9 years$8,415$7,687$7,017$6,402$5,837$4,756
10 years$7,496$6,776$6,118$5,518$4,973$3,947
11 years$6,745$6,032$5,386$4,803$4,277$3,304
12 years$6,120$5,414$4,780$4,213$3,707$2,784
13 years$5,591$4,893$4,271$3,719$3,232$2,360
14 years$5,139$4,447$3,837$3,301$2,833$2,010
15 years$4,747$4,063$3,464$2,944$2,495$1,718
16 years$4,404$3,728$3,141$2,636$2,205$1,473
17 years$4,102$3,433$2,858$2,369$1,955$1,267
18 years$3,833$3,172$2,609$2,135$1,738$1,092
19 years$3,594$2,940$2,389$1,929$1,549$943
20 years$3,378$2,732$2,192$1,747$1,384$816
21 years$3,184$2,545$2,016$1,585$1,238$706
22 years$3,007$2,375$1,858$1,442$1,110$613
23 years$2,846$2,222$1,716$1,313$996$532
24 years$2,698$2,082$1,587$1,197$896$462
25 years$2,563$1,953$1,470$1,094$806$402
26 years$2,438$1,836$1,363$1,000$726$350
27 years$2,322$1,728$1,266$915$655$305
28 years$2,215$1,628$1,177$839$591$265
29 years$2,116$1,536$1,095$769$533$231
30 years$2,023$1,451$1,020$706$482$202
31 years$1,937$1,371$951$648$436$176
32 years$1,856$1,297$887$596$394$153
33 years$1,780$1,229$828$548$357$134
34 years$1,709$1,165$774$504$323$117
35 years$1,642$1,105$724$464$292$102
36 years$1,579$1,048$677$427$265$89
37 years$1,519$996$634$394$240$78
38 years$1,463$946$593$363$218$68
39 years$1,409$900$556$335$197$59
40 years$1,359$856$521$309$179$52
41 years$1,311$815$489$285$162$45
42 years$1,266$776$458$263$147$40
43 years$1,222$739$430$243$134$35
44 years$1,181$705$404$224$121$30
45 years$1,142$672$379$207$110$26
46 years$1,104$641$356$191$100$23
47 years$1,069$612$334$177$91$20
48 years$1,034$584$314$163$83$18
49 years$1,002$558$295$151$75$15
50 years$970$533$278$139$68$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $994,000, adding $5,996 every year, while hoping to spend $49,816 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: 67/21/12 Blend
71$994,000$994,000$994,000$994,000
72$1,101,573$1,048,891$1,033,484$1,172,057
73$1,160,929$1,047,283$1,015,102$1,218,140
74$1,224,671$1,043,926$994,434$1,262,038
75$1,293,192$1,038,683$971,352$1,308,755
76$1,366,925$1,031,406$945,720$1,358,560
77$1,446,347$1,021,940$917,397$1,411,754
78$1,531,979$1,010,121$886,235$1,468,668
79$1,624,397$995,772$852,080$1,529,668
80$1,724,230$978,710$814,769$1,595,159
81$1,832,171$958,737$774,134$1,665,588
82$1,948,983$935,645$729,998$1,741,451
83$2,075,503$909,215$682,176$1,823,295
84$2,212,650$879,212$630,475$1,911,723
85$2,361,438$845,392$574,694$2,007,405
86$2,522,981$807,492$514,622$2,111,079
87$2,698,501$765,235$450,038$2,223,562
88$2,889,348$718,331$380,714$2,345,754
89$3,097,002$666,470$306,408$2,478,654
90$3,323,095$609,326$226,871$2,623,361
91$3,569,420$546,552$141,841$2,781,093
92$3,837,953$477,785$51,045$2,953,193
93$4,130,866$402,638$0$3,141,146
94$4,450,552$320,705$0$3,352,463
95$4,799,643$231,555$0$3,590,439
96$5,181,038$134,733$0$3,850,573
97$5,597,929$29,759$0$4,135,114
98$6,053,827$0$0$4,446,545
99$6,552,602$0$0$4,806,985
100$7,098,512$0$0$5,209,074