Can I retire at age 72 with 2,940,000?

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$242,782$240,620$238,510$236,451$234,440$229,425
2 years$120,189$117,951$115,782$113,678$111,638$106,610
3 years$79,330$77,082$74,918$72,835$70,828$65,944
4 years$58,905$56,664$54,521$52,473$50,515$45,812
5 years$46,653$44,425$42,311$40,305$38,401$33,893
6 years$38,487$36,276$34,193$32,232$30,385$26,077
7 years$32,657$30,465$28,415$26,500$24,711$20,603
8 years$28,287$26,114$24,098$22,230$20,500$16,591
9 years$24,889$22,737$20,756$18,935$17,264$13,552
10 years$22,172$20,041$18,095$16,322$14,710$11,190
11 years$19,951$17,842$15,931$14,205$12,651$9,319
12 years$18,102$16,014$14,138$12,460$10,963$7,814
13 years$16,538$14,472$12,632$11,000$9,560$6,588
14 years$15,199$13,154$11,349$9,765$8,380$5,580
15 years$14,039$12,017$10,247$8,708$7,379$4,743
16 years$13,025$11,025$9,290$7,797$6,521$4,045
17 years$12,132$10,154$8,454$7,006$5,782$3,458
18 years$11,338$9,383$7,717$6,314$5,141$2,963
19 years$10,629$8,696$7,065$5,705$4,583$2,544
20 years$9,992$8,080$6,484$5,167$4,093$2,187
21 years$9,416$7,527$5,964$4,689$3,663$1,883
22 years$8,893$7,026$5,497$4,264$3,283$1,623
23 years$8,417$6,571$5,075$3,883$2,947$1,400
24 years$7,981$6,157$4,694$3,542$2,649$1,209
25 years$7,580$5,778$4,347$3,234$2,384$1,045
26 years$7,210$5,430$4,032$2,957$2,147$903
27 years$6,869$5,110$3,744$2,707$1,936$781
28 years$6,553$4,816$3,480$2,480$1,747$676
29 years$6,259$4,543$3,239$2,274$1,577$586
30 years$5,985$4,290$3,017$2,087$1,425$507
31 years$5,729$4,056$2,813$1,917$1,289$439
32 years$5,489$3,838$2,624$1,762$1,166$381
33 years$5,265$3,634$2,450$1,620$1,055$330
34 years$5,054$3,444$2,289$1,491$955$286
35 years$4,856$3,267$2,140$1,372$865$248
36 years$4,669$3,101$2,002$1,264$784$215
37 years$4,493$2,945$1,874$1,164$710$187
38 years$4,327$2,799$1,755$1,073$644$162
39 years$4,169$2,661$1,644$990$584$140
40 years$4,019$2,532$1,541$913$530$122
41 years$3,878$2,410$1,445$842$481$106
42 years$3,743$2,296$1,356$777$436$92
43 years$3,615$2,187$1,272$717$396$80
44 years$3,493$2,085$1,194$662$359$69
45 years$3,377$1,988$1,121$612$326$60
46 years$3,266$1,897$1,053$565$296$52
47 years$3,161$1,810$989$522$269$45
48 years$3,060$1,728$930$482$244$39
49 years$2,963$1,650$874$446$222$34
50 years$2,870$1,576$821$412$201$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $2,940,000, adding $6,579 every year, while hoping to spend $44,473 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: 68/24/8 Blend
71$2,940,000$2,940,000$2,940,000$2,940,000
72$3,246,666$3,090,846$3,045,276$3,462,288
73$3,530,507$3,194,979$3,099,974$3,710,260
74$3,841,810$3,302,723$3,155,014$3,975,339
75$4,183,327$3,414,210$3,210,360$4,264,031
76$4,558,094$3,529,573$3,265,974$4,578,641
77$4,969,450$3,648,953$3,321,815$4,921,705
78$5,421,078$3,772,496$3,377,840$5,296,013
79$5,917,031$3,900,351$3,434,001$5,704,639
80$6,461,776$4,032,676$3,490,248$6,150,964
81$7,060,233$4,169,634$3,546,527$6,638,712
82$7,717,823$4,311,391$3,602,781$7,171,983
83$8,440,516$4,458,124$3,658,949$7,755,291
84$9,234,891$4,610,015$3,714,967$8,393,606
85$10,108,196$4,767,252$3,770,764$9,092,401
86$11,068,415$4,930,031$3,826,268$9,857,702
87$12,124,346$5,098,555$3,881,401$10,696,148
88$13,285,681$5,273,036$3,936,079$11,615,047
89$14,563,099$5,453,693$3,990,216$12,622,450
90$15,968,365$5,640,754$4,043,718$13,727,223
91$17,514,443$5,834,455$4,096,488$14,939,133
92$19,215,616$6,035,043$4,148,420$16,268,936
93$21,087,622$6,242,773$4,199,405$17,728,481
94$23,147,800$6,457,910$4,249,326$19,330,819
95$25,415,258$6,680,730$4,298,061$21,090,327
96$27,911,048$6,911,519$4,345,479$23,022,844
97$30,658,366$7,150,575$4,391,444$25,145,814
98$33,682,774$7,398,207$4,435,811$27,478,459
99$37,012,434$7,654,737$4,478,428$30,041,952
100$40,678,381$7,920,498$4,519,134$32,859,619