Can I retire at age 72 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$184,977$183,329$181,722$180,153$178,621$174,232
2 years$91,573$89,867$88,215$86,612$85,057$80,663
3 years$60,442$58,729$57,081$55,493$53,964$49,701
4 years$44,880$43,172$41,540$39,980$38,488$34,389
5 years$35,545$33,848$32,237$30,708$29,258$25,335
6 years$29,324$27,639$26,052$24,558$23,151$19,408
7 years$24,882$23,211$21,649$20,190$18,828$15,265
8 years$21,552$19,896$18,360$16,937$15,619$12,235
9 years$18,963$17,323$15,814$14,427$13,154$9,946
10 years$16,893$15,270$13,787$12,436$11,208$8,172
11 years$15,201$13,594$12,138$10,823$9,639$6,771
12 years$13,792$12,201$10,772$9,493$8,353$5,648
13 years$12,600$11,026$9,624$8,381$7,284$4,736
14 years$11,580$10,022$8,647$7,440$6,385$3,990
15 years$10,696$9,156$7,807$6,635$5,622$3,373
16 years$9,924$8,400$7,078$5,941$4,969$2,860
17 years$9,243$7,736$6,441$5,338$4,406$2,431
18 years$8,639$7,149$5,880$4,810$3,917$2,071
19 years$8,099$6,625$5,383$4,347$3,491$1,767
20 years$7,613$6,157$4,940$3,937$3,119$1,510
21 years$7,174$5,735$4,544$3,573$2,791$1,292
22 years$6,776$5,353$4,188$3,249$2,502$1,107
23 years$6,413$5,007$3,867$2,959$2,246$949
24 years$6,080$4,691$3,576$2,698$2,018$814
25 years$5,775$4,402$3,312$2,464$1,816$699
26 years$5,494$4,137$3,072$2,253$1,636$601
27 years$5,234$3,894$2,853$2,062$1,475$516
28 years$4,992$3,669$2,652$1,890$1,331$444
29 years$4,768$3,461$2,468$1,733$1,202$382
30 years$4,560$3,269$2,299$1,590$1,086$329
31 years$4,365$3,090$2,143$1,461$982$283
32 years$4,182$2,924$1,999$1,342$888$243
33 years$4,012$2,769$1,867$1,234$804$210
34 years$3,851$2,624$1,744$1,136$728$181
35 years$3,700$2,489$1,631$1,045$659$155
36 years$3,558$2,363$1,526$963$597$134
37 years$3,423$2,244$1,428$887$541$115
38 years$3,296$2,132$1,337$818$491$99
39 years$3,176$2,028$1,253$754$445$86
40 years$3,062$1,929$1,174$695$404$74
41 years$2,954$1,836$1,101$642$366$64
42 years$2,852$1,749$1,033$592$332$55
43 years$2,754$1,666$969$547$302$47
44 years$2,661$1,588$910$505$274$41
45 years$2,573$1,515$854$466$248$35
46 years$2,489$1,445$802$431$226$30
47 years$2,408$1,379$754$398$205$26
48 years$2,331$1,316$708$368$186$22
49 years$2,257$1,257$666$340$169$19
50 years$2,187$1,201$626$314$153$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $2,240,000, adding $4,907 every year, while hoping to spend $38,589 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: 60/29/11 Blend
71$2,240,000$2,240,000$2,240,000$2,240,000
72$2,473,542$2,354,822$2,320,102$2,615,226
73$2,684,784$2,429,149$2,356,767$2,785,328
74$2,916,281$2,505,826$2,393,367$2,965,982
75$3,170,056$2,584,926$2,429,858$3,162,095
76$3,448,339$2,666,525$2,466,197$3,375,159
77$3,753,588$2,750,703$2,502,333$3,606,818
78$4,088,509$2,837,542$2,538,216$3,858,880
79$4,456,081$2,927,126$2,573,790$4,133,335
80$4,859,588$3,019,542$2,608,998$4,432,373
81$5,302,645$3,114,879$2,643,779$4,758,406
82$5,789,237$3,213,230$2,678,068$5,114,089
83$6,323,751$3,314,690$2,711,795$5,502,345
84$6,911,022$3,419,358$2,744,889$5,926,391
85$7,556,375$3,527,336$2,777,272$6,389,772
86$8,265,679$3,638,728$2,808,863$6,896,390
87$9,045,395$3,753,643$2,839,577$7,450,542
88$9,902,646$3,872,192$2,869,324$8,056,959
89$10,845,277$3,994,491$2,898,007$8,720,855
90$11,881,932$4,120,658$2,925,527$9,447,970
91$13,022,135$4,250,816$2,951,778$10,244,625
92$14,276,378$4,385,091$2,976,648$11,117,784
93$15,656,223$4,523,615$3,000,020$12,075,119
94$17,174,406$4,666,521$3,021,770$13,125,078
95$18,844,964$4,813,949$3,041,767$14,276,970
96$20,683,360$4,966,042$3,059,876$15,541,047
97$22,706,633$5,122,948$3,075,952$16,928,604
98$24,933,557$5,284,820$3,089,844$18,452,084
99$27,384,819$5,451,816$3,101,393$20,125,195
100$30,083,214$5,624,097$3,110,433$21,963,040