Can I retire at age 72 with 1,980,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$163,507$162,050$160,629$159,242$157,888$156,304
2 years$80,944$79,436$77,975$76,559$75,185$73,590
3 years$53,427$51,913$50,455$49,052$47,700$46,143
4 years$39,671$38,161$36,718$35,339$34,020$32,513
5 years$31,419$29,919$28,495$27,144$25,862$24,409
6 years$25,920$24,431$23,028$21,707$20,463$19,067
7 years$21,994$20,517$19,137$17,847$16,642$15,303
8 years$19,050$17,587$16,229$14,971$13,806$12,524
9 years$16,762$15,313$13,978$12,752$11,627$10,401
10 years$14,932$13,497$12,187$10,992$9,907$8,736
11 years$13,437$12,016$10,729$9,567$8,520$7,404
12 years$12,191$10,785$9,522$8,391$7,383$6,321
13 years$11,138$9,746$8,507$7,408$6,438$5,428
14 years$10,236$8,859$7,644$6,576$5,644$4,685
15 years$9,455$8,093$6,901$5,865$4,969$4,060
16 years$8,772$7,425$6,257$5,251$4,392$3,530
17 years$8,170$6,838$5,693$4,718$3,894$3,079
18 years$7,636$6,319$5,197$4,252$3,463$2,692
19 years$7,159$5,856$4,758$3,842$3,086$2,359
20 years$6,729$5,442$4,367$3,480$2,757$2,071
21 years$6,342$5,069$4,016$3,158$2,467$1,821
22 years$5,989$4,732$3,702$2,871$2,211$1,603
23 years$5,668$4,425$3,418$2,615$1,985$1,414
24 years$5,375$4,146$3,161$2,385$1,784$1,248
25 years$5,105$3,891$2,928$2,178$1,605$1,102
26 years$4,856$3,657$2,715$1,992$1,446$974
27 years$4,626$3,442$2,521$1,823$1,304$862
28 years$4,413$3,243$2,344$1,670$1,176$763
29 years$4,215$3,059$2,181$1,532$1,062$676
30 years$4,030$2,889$2,032$1,406$960$599
31 years$3,858$2,731$1,894$1,291$868$531
32 years$3,697$2,584$1,767$1,186$785$471
33 years$3,546$2,448$1,650$1,091$710$418
34 years$3,404$2,320$1,542$1,004$643$371
35 years$3,270$2,200$1,441$924$583$330
36 years$3,145$2,088$1,348$851$528$293
37 years$3,026$1,983$1,262$784$478$260
38 years$2,914$1,885$1,182$723$434$231
39 years$2,808$1,792$1,107$666$393$205
40 years$2,707$1,705$1,038$615$357$182
41 years$2,612$1,623$973$567$324$162
42 years$2,521$1,546$913$523$294$144
43 years$2,435$1,473$857$483$267$128
44 years$2,353$1,404$804$446$242$114
45 years$2,274$1,339$755$412$220$101
46 years$2,200$1,277$709$381$199$90
47 years$2,129$1,219$666$352$181$80
48 years$2,060$1,164$626$325$164$71
49 years$1,995$1,111$588$300$149$63
50 years$1,933$1,061$553$278$136$56

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $1,980,000, adding $2,862 every year, while hoping to spend $57,476 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: 48/31/21 Blend
71$1,980,000$1,980,000$1,980,000$1,980,000
72$2,184,912$2,079,972$2,049,282$2,276,673
73$2,346,619$2,120,737$2,056,779$2,381,656
74$2,522,894$2,161,573$2,062,601$2,489,579
75$2,715,162$2,202,422$2,066,631$2,605,581
76$2,924,991$2,243,224$2,068,746$2,730,445
77$3,154,109$2,283,911$2,068,817$2,865,036
78$3,404,416$2,324,410$2,066,711$3,010,307
79$3,678,005$2,364,645$2,062,284$3,167,308
80$3,977,180$2,404,531$2,055,389$3,337,198
81$4,304,477$2,443,977$2,045,869$3,521,258
82$4,662,690$2,482,888$2,033,562$3,720,896
83$5,054,893$2,521,159$2,018,295$3,937,669
84$5,484,475$2,558,678$1,999,891$4,173,294
85$5,955,165$2,595,327$1,978,160$4,429,664
86$6,471,069$2,630,976$1,952,907$4,708,868
87$7,036,714$2,665,489$1,923,924$5,013,209
88$7,657,080$2,698,719$1,890,997$5,345,230
89$8,337,656$2,730,510$1,853,899$5,707,732
90$9,084,487$2,760,695$1,812,395$6,103,809
91$9,904,231$2,789,096$1,766,236$6,536,871
92$10,804,222$2,815,521$1,715,165$7,010,679
93$11,792,540$2,839,769$1,658,910$7,529,382
94$12,878,084$2,861,622$1,597,189$8,097,558
95$14,070,659$2,880,852$1,529,705$8,720,252
96$15,381,065$2,897,213$1,456,149$9,403,032
97$16,821,202$2,910,445$1,376,198$10,152,037
98$18,404,177$2,920,269$1,289,514$10,974,038
99$20,144,434$2,926,393$1,195,743$11,876,501
100$22,057,881$2,928,502$1,094,516$12,867,662