Can I retire at age 72 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$246,911$244,712$242,566$240,472$238,427$232,569
2 years$122,233$119,957$117,751$115,611$113,537$107,671
3 years$80,679$78,393$76,192$74,073$72,032$66,342
4 years$59,907$57,627$55,449$53,366$51,374$45,903
5 years$47,446$45,180$43,030$40,990$39,054$33,818
6 years$39,142$36,893$34,775$32,780$30,902$25,906
7 years$33,213$30,983$28,898$26,950$25,131$20,376
8 years$28,768$26,558$24,508$22,608$20,849$16,332
9 years$25,312$23,124$21,109$19,257$17,558$13,276
10 years$22,550$20,382$18,403$16,600$14,960$10,908
11 years$20,291$18,145$16,202$14,447$12,866$9,038
12 years$18,410$16,286$14,379$12,672$11,150$7,539
13 years$16,819$14,718$12,846$11,187$9,723$6,322
14 years$15,457$13,378$11,542$9,931$8,523$5,325
15 years$14,278$12,221$10,421$8,856$7,504$4,502
16 years$13,247$11,213$9,448$7,930$6,632$3,817
17 years$12,338$10,326$8,598$7,125$5,881$3,245
18 years$11,531$9,542$7,849$6,421$5,229$2,764
19 years$10,810$8,844$7,185$5,802$4,660$2,359
20 years$10,162$8,218$6,594$5,255$4,163$2,016
21 years$9,576$7,655$6,065$4,769$3,725$1,725
22 years$9,045$7,145$5,590$4,336$3,339$1,477
23 years$8,560$6,683$5,161$3,949$2,997$1,267
24 years$8,116$6,261$4,773$3,602$2,694$1,087
25 years$7,709$5,876$4,421$3,289$2,424$933
26 years$7,333$5,523$4,100$3,008$2,184$802
27 years$6,986$5,197$3,808$2,753$1,969$689
28 years$6,664$4,897$3,540$2,522$1,777$593
29 years$6,365$4,620$3,294$2,313$1,604$510
30 years$6,086$4,363$3,068$2,123$1,449$439
31 years$5,826$4,125$2,860$1,950$1,310$377
32 years$5,583$3,903$2,669$1,792$1,185$325
33 years$5,355$3,696$2,492$1,648$1,073$280
34 years$5,140$3,503$2,328$1,516$971$241
35 years$4,939$3,323$2,177$1,396$880$208
36 years$4,749$3,154$2,036$1,285$797$179
37 years$4,570$2,995$1,906$1,184$722$154
38 years$4,400$2,846$1,785$1,091$655$133
39 years$4,240$2,707$1,672$1,006$594$114
40 years$4,088$2,575$1,567$928$539$99
41 years$3,944$2,451$1,470$856$489$85
42 years$3,807$2,335$1,379$790$443$73
43 years$3,676$2,224$1,294$730$402$63
44 years$3,553$2,120$1,214$674$365$54
45 years$3,434$2,022$1,140$622$332$47
46 years$3,322$1,929$1,071$575$301$40
47 years$3,214$1,841$1,006$531$273$35
48 years$3,112$1,757$945$491$248$30
49 years$3,013$1,678$889$453$226$26
50 years$2,919$1,603$835$419$205$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $2,990,000, adding $3,924 every year, while hoping to spend $23,658 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: 63/9/28 Blend
71$2,990,000$2,990,000$2,990,000$2,990,000
72$3,299,028$3,140,558$3,094,213$3,481,970
73$3,610,356$3,269,273$3,172,697$3,735,258
74$3,952,648$3,403,503$3,253,017$4,008,875
75$4,329,035$3,543,491$3,335,211$4,307,251
76$4,742,971$3,689,496$3,419,314$4,632,817
77$5,198,257$3,841,785$3,505,364$4,988,251
78$5,699,085$4,000,638$3,593,400$5,376,499
79$6,250,071$4,166,349$3,683,458$5,800,805
80$6,856,303$4,339,225$3,775,579$6,264,741
81$7,523,386$4,519,586$3,869,800$6,772,241
82$8,257,495$4,707,770$3,966,162$7,327,634
83$9,065,434$4,904,125$4,064,704$7,935,690
84$9,954,702$5,109,021$4,165,465$8,601,660
85$10,933,561$5,322,842$4,268,487$9,331,329
86$12,011,112$5,545,990$4,373,809$10,131,065
87$13,197,387$5,778,885$4,481,473$11,007,884
88$14,503,438$6,021,967$4,591,520$11,969,513
89$15,941,443$6,275,699$4,703,991$13,024,463
90$17,524,823$6,540,560$4,818,927$14,182,108
91$19,268,364$6,817,057$4,936,370$15,452,773
92$21,188,361$7,105,716$5,056,362$16,847,834
93$23,302,768$7,407,090$5,178,944$18,379,819
94$25,631,370$7,721,757$5,304,159$20,062,532
95$28,195,968$8,050,322$5,432,047$21,911,176
96$31,020,587$8,393,418$5,562,650$23,942,505
97$34,131,699$8,751,708$5,696,011$26,174,969
98$37,558,475$9,125,884$5,832,170$28,628,901
99$41,333,060$9,516,674$5,971,169$31,326,697
100$45,490,878$9,924,836$6,113,049$34,293,034