Can I retire at age 72 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$168,461$166,961$165,497$164,068$162,672$161,987
2 years$83,397$81,843$80,338$78,879$77,463$76,771
3 years$55,046$53,486$51,984$50,538$49,146$48,469
4 years$40,873$39,318$37,831$36,410$35,051$34,394
5 years$32,371$30,825$29,359$27,966$26,645$26,010
6 years$26,705$25,171$23,726$22,365$21,084$20,471
7 years$22,660$21,139$19,716$18,387$17,147$16,558
8 years$19,627$18,120$16,721$15,425$14,225$13,659
9 years$17,270$15,777$14,402$13,138$11,979$11,437
10 years$15,385$13,906$12,556$11,326$10,207$9,687
11 years$13,844$12,380$11,054$9,857$8,778$8,281
12 years$12,560$11,112$9,810$8,646$7,607$7,132
13 years$11,475$10,042$8,765$7,633$6,634$6,180
14 years$10,546$9,128$7,875$6,775$5,815$5,383
15 years$9,741$8,338$7,110$6,043$5,120$4,708
16 years$9,038$7,650$6,446$5,410$4,525$4,133
17 years$8,418$7,045$5,866$4,861$4,012$3,640
18 years$7,867$6,510$5,355$4,381$3,567$3,214
19 years$7,376$6,034$4,902$3,959$3,180$2,845
20 years$6,933$5,607$4,499$3,585$2,840$2,523
21 years$6,534$5,223$4,138$3,254$2,542$2,242
22 years$6,171$4,875$3,814$2,958$2,278$1,995
23 years$5,840$4,560$3,522$2,694$2,045$1,777
24 years$5,538$4,272$3,257$2,457$1,838$1,585
25 years$5,259$4,009$3,016$2,244$1,654$1,416
26 years$5,003$3,768$2,798$2,052$1,490$1,266
27 years$4,766$3,546$2,598$1,878$1,343$1,132
28 years$4,547$3,341$2,415$1,721$1,212$1,014
29 years$4,343$3,152$2,247$1,578$1,094$908
30 years$4,153$2,977$2,093$1,448$989$814
31 years$3,975$2,814$1,952$1,330$894$730
32 years$3,809$2,663$1,821$1,222$809$655
33 years$3,653$2,522$1,700$1,124$732$588
34 years$3,507$2,390$1,589$1,034$663$528
35 years$3,370$2,267$1,485$952$600$474
36 years$3,240$2,152$1,389$877$544$426
37 years$3,118$2,044$1,300$808$493$383
38 years$3,002$1,942$1,218$745$447$344
39 years$2,893$1,847$1,141$687$405$310
40 years$2,789$1,757$1,069$633$368$278
41 years$2,691$1,673$1,003$584$333$250
42 years$2,597$1,593$941$539$303$225
43 years$2,508$1,518$883$498$275$203
44 years$2,424$1,447$828$460$249$182
45 years$2,343$1,380$778$424$226$164
46 years$2,266$1,316$731$392$205$148
47 years$2,193$1,256$686$362$187$133
48 years$2,123$1,199$645$335$169$120
49 years$2,056$1,145$606$309$154$108
50 years$1,992$1,094$570$286$140$97

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $2,040,000, adding $6,803 every year, while hoping to spend $48,078 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: 81/10/9 Blend
71$2,040,000$2,040,000$2,040,000$2,040,000
72$2,255,097$2,146,977$2,115,357$2,434,288
73$2,433,963$2,201,025$2,135,067$2,606,716
74$2,629,461$2,256,109$2,153,826$2,788,890
75$2,843,238$2,312,230$2,171,551$2,987,398
76$3,077,105$2,369,387$2,188,155$3,203,849
77$3,333,059$2,427,576$2,203,547$3,440,014
78$3,613,296$2,486,791$2,217,631$3,697,845
79$3,920,235$2,547,027$2,230,305$3,979,493
80$4,256,541$2,608,274$2,241,462$4,287,325
81$4,625,148$2,670,519$2,250,991$4,623,949
82$5,029,288$2,733,749$2,258,774$4,992,236
83$5,472,520$2,797,948$2,264,688$5,395,351
84$5,958,765$2,863,095$2,268,602$5,836,779
85$6,492,340$2,929,167$2,270,381$6,320,361
86$7,078,001$2,996,139$2,269,882$6,850,325
87$7,720,989$3,063,982$2,266,954$7,431,331
88$8,427,074$3,132,661$2,261,441$8,068,513
89$9,202,613$3,202,139$2,253,178$8,767,527
90$10,054,611$3,272,376$2,241,991$9,534,605
91$10,990,783$3,343,323$2,227,699$10,376,610
92$12,019,628$3,414,931$2,210,112$11,301,109
93$13,150,511$3,487,144$2,189,031$12,316,435
94$14,393,747$3,559,898$2,164,248$13,431,770
95$15,760,703$3,633,126$2,135,544$14,657,234
96$17,263,900$3,706,755$2,102,690$16,003,974
97$18,917,135$3,780,703$2,065,447$17,484,276
98$20,735,608$3,854,883$2,023,565$19,111,674
99$22,736,066$3,929,199$1,976,781$20,901,084
100$24,936,962$4,003,547$1,924,820$22,868,940