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

Use the below retirement simulation to view the chances of a successful retirement.
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%12.4%
1 years$246,911$244,712$242,566$240,472$238,427$236,035
2 years$122,233$119,957$117,751$115,611$113,537$111,128
3 years$80,679$78,393$76,192$74,073$72,032$69,681
4 years$59,907$57,627$55,449$53,366$51,374$49,098
5 years$47,446$45,180$43,030$40,990$39,054$36,860
6 years$39,142$36,893$34,775$32,780$30,902$28,793
7 years$33,213$30,983$28,898$26,950$25,131$23,109
8 years$28,768$26,558$24,508$22,608$20,849$18,912
9 years$25,312$23,124$21,109$19,257$17,558$15,706
10 years$22,550$20,382$18,403$16,600$14,960$13,192
11 years$20,291$18,145$16,202$14,447$12,866$11,181
12 years$18,410$16,286$14,379$12,672$11,150$9,545
13 years$16,819$14,718$12,846$11,187$9,723$8,197
14 years$15,457$13,378$11,542$9,931$8,523$7,074
15 years$14,278$12,221$10,421$8,856$7,504$6,130
16 years$13,247$11,213$9,448$7,930$6,632$5,331
17 years$12,338$10,326$8,598$7,125$5,881$4,649
18 years$11,531$9,542$7,849$6,421$5,229$4,065
19 years$10,810$8,844$7,185$5,802$4,660$3,562
20 years$10,162$8,218$6,594$5,255$4,163$3,127
21 years$9,576$7,655$6,065$4,769$3,725$2,750
22 years$9,045$7,145$5,590$4,336$3,339$2,421
23 years$8,560$6,683$5,161$3,949$2,997$2,135
24 years$8,116$6,261$4,773$3,602$2,694$1,884
25 years$7,709$5,876$4,421$3,289$2,424$1,664
26 years$7,333$5,523$4,100$3,008$2,184$1,472
27 years$6,986$5,197$3,808$2,753$1,969$1,302
28 years$6,664$4,897$3,540$2,522$1,777$1,153
29 years$6,365$4,620$3,294$2,313$1,604$1,021
30 years$6,086$4,363$3,068$2,123$1,449$905
31 years$5,826$4,125$2,860$1,950$1,310$802
32 years$5,583$3,903$2,669$1,792$1,185$712
33 years$5,355$3,696$2,492$1,648$1,073$632
34 years$5,140$3,503$2,328$1,516$971$561
35 years$4,939$3,323$2,177$1,396$880$498
36 years$4,749$3,154$2,036$1,285$797$442
37 years$4,570$2,995$1,906$1,184$722$392
38 years$4,400$2,846$1,785$1,091$655$349
39 years$4,240$2,707$1,672$1,006$594$310
40 years$4,088$2,575$1,567$928$539$275
41 years$3,944$2,451$1,470$856$489$245
42 years$3,807$2,335$1,379$790$443$217
43 years$3,676$2,224$1,294$730$402$193
44 years$3,553$2,120$1,214$674$365$172
45 years$3,434$2,022$1,140$622$332$153
46 years$3,322$1,929$1,071$575$301$136
47 years$3,214$1,841$1,006$531$273$121
48 years$3,112$1,757$945$491$248$107
49 years$3,013$1,678$889$453$226$96
50 years$2,919$1,603$835$419$205$85

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 $6,956 every year, while hoping to spend $50,558 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: 25/45/30 Blend
71$2,990,000$2,990,000$2,990,000$2,990,000
72$3,302,155$3,143,685$3,097,340$3,353,637
73$3,585,182$3,243,932$3,147,308$3,497,937
74$3,895,382$3,347,397$3,197,255$3,647,822
75$4,235,476$3,454,184$3,247,127$3,807,490
76$4,608,456$3,564,400$3,296,867$3,977,799
77$5,017,620$3,678,158$3,346,414$4,159,692
78$5,466,600$3,795,571$3,395,702$4,354,203
79$5,959,398$3,916,759$3,444,663$4,562,470
80$6,500,420$4,041,843$3,493,223$4,785,741
81$7,094,522$4,170,952$3,541,304$5,025,391
82$7,747,049$4,304,215$3,588,824$5,282,928
83$8,463,895$4,441,768$3,635,696$5,560,013
84$9,251,548$4,583,751$3,681,828$5,858,470
85$10,117,159$4,730,307$3,727,122$6,180,308
86$11,068,603$4,881,586$3,771,474$6,527,735
87$12,114,558$5,037,742$3,814,777$6,903,182
88$13,264,585$5,198,933$3,856,914$7,309,320
89$14,529,217$5,365,325$3,897,765$7,749,092
90$15,920,058$5,537,087$3,937,201$8,225,736
91$17,449,894$5,714,394$3,975,087$8,742,816
92$19,132,812$5,897,428$4,011,281$9,304,253
93$20,984,332$6,086,376$4,045,632$9,914,367
94$23,021,557$6,281,431$4,077,984$10,577,911
95$25,263,329$6,482,795$4,108,170$11,300,119
96$27,730,409$6,690,672$4,136,014$12,086,754
97$30,445,674$6,905,278$4,161,333$12,944,163
98$33,434,328$7,126,832$4,183,934$13,879,335
99$36,724,146$7,355,563$4,203,612$14,899,965
100$40,345,730$7,591,706$4,220,154$16,014,531