Can I retire at age 72 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$245,260$243,075$240,944$238,863$236,832$232,431
2 years$121,416$119,154$116,963$114,838$112,777$108,359
3 years$80,140$77,869$75,683$73,578$71,550$67,254
4 years$59,506$57,242$55,078$53,009$51,030$46,888
5 years$47,129$44,878$42,743$40,716$38,792$34,816
6 years$38,880$36,646$34,542$32,561$30,695$26,889
7 years$32,990$30,776$28,705$26,770$24,963$21,329
8 years$28,575$26,380$24,344$22,457$20,710$17,246
9 years$25,143$22,969$20,967$19,128$17,440$14,145
10 years$22,399$20,246$18,280$16,489$14,860$11,730
11 years$20,155$18,024$16,093$14,350$12,780$9,812
12 years$18,286$16,177$14,282$12,587$11,075$8,265
13 years$16,707$14,619$12,760$11,112$9,658$7,001
14 years$15,354$13,289$11,465$9,864$8,466$5,958
15 years$14,182$12,139$10,352$8,797$7,454$5,089
16 years$13,158$11,138$9,385$7,877$6,588$4,361
17 years$12,256$10,257$8,540$7,077$5,841$3,748
18 years$11,454$9,478$7,796$6,378$5,194$3,228
19 years$10,738$8,784$7,137$5,763$4,629$2,785
20 years$10,094$8,163$6,550$5,220$4,135$2,407
21 years$9,512$7,603$6,025$4,737$3,700$2,084
22 years$8,984$7,098$5,553$4,307$3,317$1,806
23 years$8,503$6,638$5,127$3,923$2,977$1,566
24 years$8,062$6,220$4,742$3,578$2,676$1,360
25 years$7,657$5,837$4,392$3,267$2,408$1,182
26 years$7,284$5,486$4,073$2,987$2,169$1,027
27 years$6,939$5,163$3,782$2,735$1,956$894
28 years$6,619$4,865$3,516$2,505$1,765$778
29 years$6,322$4,589$3,272$2,298$1,593$678
30 years$6,046$4,334$3,048$2,109$1,440$590
31 years$5,787$4,097$2,841$1,937$1,302$514
32 years$5,545$3,877$2,651$1,780$1,177$448
33 years$5,319$3,671$2,475$1,637$1,066$391
34 years$5,106$3,480$2,313$1,506$965$341
35 years$4,906$3,300$2,162$1,386$874$297
36 years$4,717$3,132$2,023$1,277$792$259
37 years$4,539$2,975$1,893$1,176$718$226
38 years$4,371$2,827$1,773$1,084$651$198
39 years$4,211$2,689$1,661$1,000$590$172
40 years$4,060$2,558$1,557$922$535$150
41 years$3,917$2,435$1,460$851$485$131
42 years$3,781$2,319$1,369$785$441$115
43 years$3,652$2,210$1,285$725$400$100
44 years$3,529$2,106$1,206$669$363$87
45 years$3,411$2,008$1,133$618$329$76
46 years$3,300$1,916$1,064$571$299$67
47 years$3,193$1,828$999$527$272$58
48 years$3,091$1,745$939$487$247$51
49 years$2,993$1,667$883$450$224$44
50 years$2,900$1,592$830$416$203$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $2,970,000, adding $2,950 every year, while hoping to spend $26,516 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: 43/43/14 Blend
71$2,970,000$2,970,000$2,970,000$2,970,000
72$3,275,983$3,118,573$3,072,538$3,403,406
73$3,581,920$3,243,170$3,147,255$3,617,566
74$3,918,175$3,372,984$3,223,587$3,846,565
75$4,287,810$3,508,242$3,301,559$4,094,077
76$4,694,203$3,649,182$3,381,197$4,361,813
77$5,141,073$3,796,053$3,462,528$4,651,651
78$5,632,517$3,949,114$3,545,577$4,965,655
79$6,173,051$4,108,638$3,630,371$5,306,089
80$6,767,648$4,274,908$3,716,935$5,675,444
81$7,421,791$4,448,220$3,805,295$6,076,454
82$8,141,517$4,628,887$3,895,476$6,512,124
83$8,933,480$4,817,230$3,987,503$6,985,757
84$9,805,012$5,013,591$4,081,401$7,500,984
85$10,764,190$5,218,324$4,177,194$8,061,796
86$11,819,914$5,431,799$4,274,907$8,672,582
87$12,981,993$5,654,405$4,374,564$9,338,167
88$14,261,231$5,886,546$4,476,187$10,063,858
89$15,669,537$6,128,647$4,579,800$10,855,493
90$17,220,030$6,381,151$4,685,424$11,719,491
91$18,927,168$6,644,522$4,793,080$12,662,916
92$20,806,881$6,919,245$4,902,790$13,693,538
93$22,876,723$7,205,828$5,014,573$14,819,907
94$25,156,035$7,504,801$5,128,448$16,051,432
95$27,666,134$7,816,719$5,244,434$17,398,464
96$30,430,504$8,142,162$5,362,547$18,872,399
97$33,475,026$8,481,739$5,482,803$20,485,775
98$36,828,218$8,836,084$5,605,217$22,252,396
99$40,521,507$9,205,862$5,729,802$24,187,454
100$44,589,520$9,591,769$5,856,570$26,307,674