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%18.6%
1 years$242,782$240,620$238,510$236,451$234,440$226,302
2 years$120,189$117,951$115,782$113,678$111,638$103,523
3 years$79,330$77,082$74,918$72,835$70,828$62,991
4 years$58,905$56,664$54,521$52,473$50,515$43,016
5 years$46,653$44,425$42,311$40,305$38,401$31,260
6 years$38,487$36,276$34,193$32,232$30,385$23,608
7 years$32,657$30,465$28,415$26,500$24,711$18,296
8 years$28,287$26,114$24,098$22,230$20,500$14,442
9 years$24,889$22,737$20,756$18,935$17,264$11,555
10 years$22,172$20,041$18,095$16,322$14,710$9,341
11 years$19,951$17,842$15,931$14,205$12,651$7,611
12 years$18,102$16,014$14,138$12,460$10,963$6,241
13 years$16,538$14,472$12,632$11,000$9,560$5,142
14 years$15,199$13,154$11,349$9,765$8,380$4,254
15 years$14,039$12,017$10,247$8,708$7,379$3,531
16 years$13,025$11,025$9,290$7,797$6,521$2,939
17 years$12,132$10,154$8,454$7,006$5,782$2,451
18 years$11,338$9,383$7,717$6,314$5,141$2,048
19 years$10,629$8,696$7,065$5,705$4,583$1,714
20 years$9,992$8,080$6,484$5,167$4,093$1,436
21 years$9,416$7,527$5,964$4,689$3,663$1,204
22 years$8,893$7,026$5,497$4,264$3,283$1,011
23 years$8,417$6,571$5,075$3,883$2,947$849
24 years$7,981$6,157$4,694$3,542$2,649$714
25 years$7,580$5,778$4,347$3,234$2,384$600
26 years$7,210$5,430$4,032$2,957$2,147$505
27 years$6,869$5,110$3,744$2,707$1,936$425
28 years$6,553$4,816$3,480$2,480$1,747$358
29 years$6,259$4,543$3,239$2,274$1,577$301
30 years$5,985$4,290$3,017$2,087$1,425$254
31 years$5,729$4,056$2,813$1,917$1,289$214
32 years$5,489$3,838$2,624$1,762$1,166$180
33 years$5,265$3,634$2,450$1,620$1,055$152
34 years$5,054$3,444$2,289$1,491$955$128
35 years$4,856$3,267$2,140$1,372$865$108
36 years$4,669$3,101$2,002$1,264$784$91
37 years$4,493$2,945$1,874$1,164$710$77
38 years$4,327$2,799$1,755$1,073$644$65
39 years$4,169$2,661$1,644$990$584$54
40 years$4,019$2,532$1,541$913$530$46
41 years$3,878$2,410$1,445$842$481$39
42 years$3,743$2,296$1,356$777$436$33
43 years$3,615$2,187$1,272$717$396$27
44 years$3,493$2,085$1,194$662$359$23
45 years$3,377$1,988$1,121$612$326$20
46 years$3,266$1,897$1,053$565$296$16
47 years$3,161$1,810$989$522$269$14
48 years$3,060$1,728$930$482$244$12
49 years$2,963$1,650$874$446$222$10
50 years$2,870$1,576$821$412$201$8

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 $5,185 every year, while hoping to spend $48,761 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: 57/29/14 Blend
71$2,940,000$2,940,000$2,940,000$2,940,000
72$3,245,228$3,089,408$3,043,838$3,418,288
73$3,524,360$3,188,908$3,093,926$3,635,546
74$3,830,329$3,291,649$3,144,057$3,866,372
75$4,165,822$3,397,738$3,194,181$4,116,764
76$4,533,795$3,507,287$3,244,246$4,388,607
77$4,937,509$3,620,411$3,294,194$4,683,974
78$5,380,551$3,737,227$3,343,966$5,005,147
79$5,866,875$3,857,859$3,393,497$5,354,637
80$6,400,835$3,982,433$3,442,718$5,735,209
81$6,987,229$4,111,081$3,491,558$6,149,906
82$7,631,340$4,243,938$3,539,939$6,602,076
83$8,338,991$4,381,145$3,587,781$7,095,408
84$9,116,593$4,522,846$3,634,997$7,633,962
85$9,971,212$4,669,192$3,681,496$8,222,207
86$10,910,631$4,820,338$3,727,181$8,865,067
87$11,943,425$4,976,444$3,771,951$9,567,961
88$13,079,041$5,137,677$3,815,698$10,336,860
89$14,327,888$5,304,207$3,858,309$11,178,336
90$15,701,433$5,476,214$3,899,662$12,099,631
91$17,212,310$5,653,879$3,939,632$13,108,718
92$18,874,441$5,837,395$3,978,085$14,214,380
93$20,703,164$6,026,956$4,014,880$15,426,291
94$22,715,377$6,222,768$4,049,869$16,755,107
95$24,929,701$6,425,039$4,082,896$18,212,565
96$27,366,653$6,633,989$4,113,795$19,811,597
97$30,048,839$6,849,842$4,142,395$21,566,445
98$33,001,168$7,072,831$4,168,512$23,492,800
99$36,251,086$7,303,198$4,191,956$25,607,949
100$39,828,835$7,541,193$4,212,525$27,930,935