Can I retire at age 72 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$168,461$166,961$165,497$164,068$162,672$159,323
2 years$83,397$81,843$80,338$78,879$77,463$74,104
3 years$55,046$53,486$51,984$50,538$49,146$45,881
4 years$40,873$39,318$37,831$36,410$35,051$31,907
5 years$32,371$30,825$29,359$27,966$26,645$23,630
6 years$26,705$25,171$23,726$22,365$21,084$18,201
7 years$22,660$21,139$19,716$18,387$17,147$14,396
8 years$19,627$18,120$16,721$15,425$14,225$11,607
9 years$17,270$15,777$14,402$13,138$11,979$9,492
10 years$15,385$13,906$12,556$11,326$10,207$7,847
11 years$13,844$12,380$11,054$9,857$8,778$6,543
12 years$12,560$11,112$9,810$8,646$7,607$5,494
13 years$11,475$10,042$8,765$7,633$6,634$4,638
14 years$10,546$9,128$7,875$6,775$5,815$3,933
15 years$9,741$8,338$7,110$6,043$5,120$3,348
16 years$9,038$7,650$6,446$5,410$4,525$2,859
17 years$8,418$7,045$5,866$4,861$4,012$2,448
18 years$7,867$6,510$5,355$4,381$3,567$2,101
19 years$7,376$6,034$4,902$3,959$3,180$1,806
20 years$6,933$5,607$4,499$3,585$2,840$1,555
21 years$6,534$5,223$4,138$3,254$2,542$1,341
22 years$6,171$4,875$3,814$2,958$2,278$1,158
23 years$5,840$4,560$3,522$2,694$2,045$1,000
24 years$5,538$4,272$3,257$2,457$1,838$865
25 years$5,259$4,009$3,016$2,244$1,654$749
26 years$5,003$3,768$2,798$2,052$1,490$648
27 years$4,766$3,546$2,598$1,878$1,343$562
28 years$4,547$3,341$2,415$1,721$1,212$487
29 years$4,343$3,152$2,247$1,578$1,094$422
30 years$4,153$2,977$2,093$1,448$989$366
31 years$3,975$2,814$1,952$1,330$894$318
32 years$3,809$2,663$1,821$1,222$809$276
33 years$3,653$2,522$1,700$1,124$732$240
34 years$3,507$2,390$1,589$1,034$663$208
35 years$3,370$2,267$1,485$952$600$181
36 years$3,240$2,152$1,389$877$544$157
37 years$3,118$2,044$1,300$808$493$136
38 years$3,002$1,942$1,218$745$447$119
39 years$2,893$1,847$1,141$687$405$103
40 years$2,789$1,757$1,069$633$368$90
41 years$2,691$1,673$1,003$584$333$78
42 years$2,597$1,593$941$539$303$68
43 years$2,508$1,518$883$498$275$59
44 years$2,424$1,447$828$460$249$51
45 years$2,343$1,380$778$424$226$44
46 years$2,266$1,316$731$392$205$39
47 years$2,193$1,256$686$362$187$34
48 years$2,123$1,199$645$335$169$29
49 years$2,056$1,145$606$309$154$25
50 years$1,992$1,094$570$286$140$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $2,040,000, adding $4,650 every year, while hoping to spend $58,990 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: 35/47/18 Blend
71$2,040,000$2,040,000$2,040,000$2,040,000
72$2,252,876$2,144,756$2,113,136$2,319,160
73$2,419,905$2,187,085$2,121,162$2,410,320
74$2,601,993$2,229,510$2,127,479$2,502,772
75$2,800,615$2,271,974$2,131,968$2,601,284
76$3,017,393$2,314,416$2,134,504$2,706,428
77$3,254,112$2,356,768$2,134,955$2,818,835
78$3,512,739$2,398,956$2,133,183$2,939,203
79$3,795,436$2,440,903$2,129,042$3,068,300
80$4,104,587$2,482,524$2,122,382$3,206,975
81$4,442,815$2,523,728$2,113,042$3,356,166
82$4,813,009$2,564,417$2,100,855$3,516,908
83$5,218,349$2,604,486$2,085,647$3,690,343
84$5,662,337$2,643,823$2,067,233$3,877,732
85$6,148,831$2,682,306$2,045,421$4,080,468
86$6,682,079$2,719,806$2,020,010$4,300,090
87$7,266,760$2,756,185$1,990,788$4,538,292
88$7,908,025$2,791,295$1,957,536$4,796,950
89$8,611,552$2,824,976$1,920,022$5,078,132
90$9,383,591$2,857,061$1,878,003$5,384,119
91$10,231,029$2,887,368$1,831,227$5,717,433
92$11,161,449$2,915,705$1,779,429$6,080,855
93$12,183,209$2,941,866$1,722,332$6,477,455
94$13,305,512$2,965,633$1,659,645$6,910,622
95$14,538,497$2,986,772$1,591,067$7,384,094
96$15,893,336$3,005,036$1,516,279$7,902,001
97$17,382,333$3,020,159$1,434,952$8,468,895
98$19,019,046$3,031,862$1,346,738$9,089,805
99$20,818,411$3,039,846$1,251,275$9,770,275
100$22,796,883$3,043,792$1,148,187$10,516,426