Can I retire at age 72 with 2,340,000?

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 $2,340,000?

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%
1 years$193,235$191,514$189,834$188,195$186,595$182,678
2 years$95,661$93,879$92,153$90,479$88,855$84,927
3 years$63,140$61,351$59,629$57,970$56,373$52,557
4 years$46,883$45,100$43,395$41,764$40,206$36,531
5 years$37,132$35,359$33,676$32,079$30,564$27,040
6 years$30,633$28,873$27,215$25,654$24,184$20,816
7 years$25,992$24,247$22,616$21,092$19,668$16,456
8 years$22,514$20,785$19,180$17,693$16,317$13,259
9 years$19,810$18,097$16,520$15,071$13,741$10,837
10 years$17,647$15,951$14,402$12,991$11,708$8,953
11 years$15,880$14,201$12,680$11,306$10,069$7,461
12 years$14,408$12,746$11,253$9,917$8,726$6,260
13 years$13,163$11,518$10,054$8,755$7,609$5,282
14 years$12,097$10,470$9,033$7,772$6,670$4,476
15 years$11,174$9,564$8,156$6,931$5,873$3,808
16 years$10,367$8,775$7,394$6,206$5,190$3,250
17 years$9,656$8,082$6,729$5,576$4,602$2,780
18 years$9,024$7,468$6,142$5,025$4,092$2,384
19 years$8,460$6,921$5,623$4,541$3,647$2,048
20 years$7,953$6,431$5,161$4,112$3,258$1,762
21 years$7,495$5,991$4,747$3,732$2,915$1,518
22 years$7,078$5,592$4,375$3,394$2,613$1,310
23 years$6,699$5,230$4,039$3,091$2,346$1,131
24 years$6,352$4,900$3,736$2,819$2,108$977
25 years$6,033$4,599$3,460$2,574$1,897$845
26 years$5,739$4,322$3,209$2,354$1,709$731
27 years$5,467$4,067$2,980$2,154$1,541$633
28 years$5,215$3,833$2,770$1,974$1,390$548
29 years$4,981$3,616$2,578$1,810$1,255$475
30 years$4,763$3,415$2,401$1,661$1,134$412
31 years$4,560$3,228$2,239$1,526$1,026$357
32 years$4,369$3,054$2,089$1,402$928$310
33 years$4,191$2,893$1,950$1,289$840$269
34 years$4,023$2,741$1,822$1,186$760$233
35 years$3,865$2,600$1,704$1,092$688$202
36 years$3,716$2,468$1,594$1,006$624$176
37 years$3,576$2,344$1,492$927$565$153
38 years$3,444$2,228$1,397$854$513$132
39 years$3,318$2,118$1,309$788$465$115
40 years$3,199$2,015$1,227$726$422$100
41 years$3,086$1,918$1,150$670$382$87
42 years$2,979$1,827$1,079$619$347$75
43 years$2,877$1,741$1,012$571$315$65
44 years$2,780$1,659$950$527$286$57
45 years$2,688$1,582$892$487$260$49
46 years$2,600$1,510$838$450$236$43
47 years$2,516$1,441$787$416$214$37
48 years$2,435$1,375$740$384$194$32
49 years$2,358$1,313$695$355$177$28
50 years$2,285$1,254$654$328$160$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $2,340,000, adding $5,301 every year, while hoping to spend $26,423 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: 64/20/16 Blend
71$2,340,000$2,340,000$2,340,000$2,340,000
72$2,584,148$2,460,128$2,423,858$2,739,052
73$2,819,617$2,552,560$2,476,943$2,935,996
74$3,078,219$2,648,636$2,530,922$3,147,536
75$3,362,284$2,748,507$2,585,794$3,377,982
76$3,674,382$2,852,328$2,641,563$3,629,177
77$4,017,342$2,960,265$2,698,229$3,903,154
78$4,394,281$3,072,489$2,755,790$4,202,145
79$4,808,634$3,189,177$2,814,245$4,528,610
80$5,264,184$3,310,516$2,873,591$4,885,257
81$5,765,100$3,436,700$2,933,826$5,275,065
82$6,315,974$3,567,933$2,994,943$5,701,316
83$6,921,867$3,704,425$3,056,937$6,167,621
84$7,588,353$3,846,398$3,119,800$6,677,959
85$8,321,575$3,994,081$3,183,524$7,236,708
86$9,128,301$4,147,717$3,248,097$7,848,689
87$10,015,988$4,307,555$3,313,509$8,519,214
88$10,992,852$4,473,858$3,379,744$9,254,129
89$12,067,945$4,646,899$3,446,788$10,059,875
90$13,251,244$4,826,966$3,514,624$10,943,544
91$14,553,739$5,014,355$3,583,231$11,912,948
92$15,987,540$5,209,378$3,652,590$12,976,689
93$17,565,993$5,412,361$3,722,675$14,144,243
94$19,303,801$5,623,644$3,793,462$15,426,050
95$21,217,167$5,843,581$3,864,921$16,833,604
96$23,323,944$6,072,543$3,937,022$18,379,572
97$25,643,806$6,310,916$4,009,731$20,077,903
98$28,198,429$6,559,106$4,083,012$21,943,966
99$31,011,700$6,817,534$4,156,825$23,994,688
100$34,109,942$7,086,642$4,231,127$26,248,721