Can I retire at age 72 with 2,950,000?

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 $2,950,000?

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$243,608$241,438$239,321$237,255$235,237$230,205
2 years$120,598$118,352$116,175$114,065$112,018$106,973
3 years$79,600$77,344$75,173$73,082$71,069$66,168
4 years$59,105$56,856$54,707$52,652$50,687$45,968
5 years$46,811$44,576$42,455$40,442$38,531$34,008
6 years$38,618$36,400$34,310$32,341$30,488$26,166
7 years$32,768$30,568$28,512$26,590$24,795$20,673
8 years$28,383$26,203$24,180$22,305$20,570$16,648
9 years$24,974$22,814$20,826$18,999$17,323$13,598
10 years$22,248$20,110$18,157$16,378$14,760$11,228
11 years$20,019$17,902$15,985$14,253$12,694$9,351
12 years$18,163$16,068$14,186$12,502$11,000$7,840
13 years$16,594$14,521$12,674$11,038$9,593$6,610
14 years$15,250$13,199$11,388$9,798$8,409$5,599
15 years$14,087$12,058$10,282$8,738$7,404$4,759
16 years$13,070$11,063$9,322$7,824$6,544$4,059
17 years$12,173$10,188$8,483$7,030$5,802$3,470
18 years$11,377$9,414$7,744$6,335$5,159$2,973
19 years$10,666$8,725$7,089$5,724$4,598$2,552
20 years$10,026$8,108$6,506$5,185$4,107$2,194
21 years$9,448$7,552$5,984$4,705$3,675$1,889
22 years$8,924$7,050$5,515$4,278$3,295$1,628
23 years$8,445$6,593$5,092$3,896$2,957$1,405
24 years$8,008$6,178$4,710$3,554$2,658$1,213
25 years$7,606$5,797$4,362$3,245$2,392$1,048
26 years$7,235$5,449$4,046$2,967$2,155$906
27 years$6,892$5,128$3,757$2,716$1,943$784
28 years$6,575$4,832$3,492$2,489$1,753$679
29 years$6,280$4,558$3,250$2,282$1,583$588
30 years$6,005$4,305$3,027$2,094$1,430$509
31 years$5,748$4,070$2,822$1,923$1,293$441
32 years$5,508$3,851$2,633$1,768$1,170$382
33 years$5,283$3,647$2,459$1,626$1,058$331
34 years$5,072$3,456$2,297$1,496$958$287
35 years$4,873$3,278$2,148$1,377$868$249
36 years$4,685$3,111$2,009$1,268$786$216
37 years$4,508$2,955$1,880$1,168$713$187
38 years$4,341$2,808$1,761$1,077$646$162
39 years$4,183$2,671$1,650$993$586$141
40 years$4,033$2,541$1,546$916$531$122
41 years$3,891$2,419$1,450$845$482$106
42 years$3,756$2,303$1,360$780$438$92
43 years$3,627$2,195$1,276$720$397$80
44 years$3,505$2,092$1,198$665$360$69
45 years$3,388$1,995$1,125$614$327$60
46 years$3,277$1,903$1,057$567$297$52
47 years$3,171$1,816$993$524$270$45
48 years$3,070$1,734$933$484$245$39
49 years$2,973$1,656$877$447$223$34
50 years$2,880$1,581$824$414$202$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $2,950,000, adding $3,847 every year, while hoping to spend $39,870 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: 40/40/20 Blend
71$2,950,000$2,950,000$2,950,000$2,950,000
72$3,254,868$3,098,518$3,052,793$3,365,630
73$3,544,443$3,207,924$3,112,640$3,554,665
74$3,862,219$3,321,355$3,173,156$3,754,934
75$4,211,029$3,438,965$3,234,321$3,970,774
76$4,593,996$3,560,917$3,296,113$4,203,625
77$5,014,560$3,687,377$3,358,508$4,455,068
78$5,476,508$3,818,522$3,421,481$4,726,840
79$5,984,014$3,954,532$3,485,003$5,020,854
80$6,541,676$4,095,597$3,549,044$5,339,207
81$7,154,560$4,241,913$3,613,569$5,684,210
82$7,828,245$4,393,687$3,678,544$6,058,399
83$8,568,879$4,551,131$3,743,929$6,464,568
84$9,383,236$4,714,468$3,809,682$6,905,786
85$10,278,778$4,883,929$3,875,758$7,385,431
86$11,263,727$5,059,754$3,942,109$7,907,218
87$12,347,140$5,242,196$4,008,682$8,475,233
88$13,538,999$5,431,513$4,075,424$9,093,976
89$14,850,299$5,627,980$4,142,273$9,768,395
90$16,293,157$5,831,879$4,209,167$10,503,937
91$17,880,923$6,043,505$4,276,037$11,306,597
92$19,628,306$6,263,165$4,342,813$12,182,972
93$21,551,512$6,491,179$4,409,417$13,140,325
94$23,668,401$6,727,882$4,475,767$14,186,651
95$25,998,650$6,973,620$4,541,777$15,330,753
96$28,563,941$7,228,755$4,607,355$16,582,320
97$31,388,164$7,493,666$4,672,402$17,952,022
98$34,497,644$7,768,743$4,736,816$19,451,607
99$37,921,391$8,054,398$4,800,486$21,094,010
100$41,691,366$8,351,058$4,863,296$22,893,477