Can I retire at age 72 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$246,086$243,894$241,755$239,668$237,629$232,736
2 years$121,825$119,556$117,357$115,225$113,157$108,249
3 years$80,410$78,131$75,938$73,826$71,791$67,023
4 years$59,706$57,435$55,263$53,187$51,202$46,609
5 years$47,287$45,029$42,886$40,853$38,923$34,518
6 years$39,011$36,770$34,659$32,670$30,799$26,587
7 years$33,101$30,879$28,801$26,860$25,047$21,030
8 years$28,671$26,469$24,426$22,532$20,779$16,955
9 years$25,228$23,046$21,038$19,193$17,499$13,865
10 years$22,474$20,314$18,341$16,544$14,910$11,463
11 years$20,223$18,084$16,148$14,398$12,823$9,558
12 years$18,348$16,232$14,331$12,629$11,112$8,025
13 years$16,763$14,669$12,803$11,150$9,690$6,775
14 years$15,405$13,333$11,504$9,898$8,494$5,746
15 years$14,230$12,180$10,386$8,827$7,479$4,891
16 years$13,203$11,175$9,417$7,903$6,610$4,177
17 years$12,297$10,292$8,569$7,101$5,861$3,576
18 years$11,493$9,510$7,822$6,400$5,211$3,069
19 years$10,774$8,814$7,161$5,783$4,645$2,638
20 years$10,128$8,190$6,572$5,237$4,149$2,272
21 years$9,544$7,629$6,045$4,753$3,713$1,959
22 years$9,014$7,121$5,571$4,322$3,328$1,691
23 years$8,531$6,661$5,144$3,936$2,987$1,461
24 years$8,089$6,240$4,757$3,590$2,685$1,264
25 years$7,683$5,856$4,406$3,278$2,416$1,094
26 years$7,309$5,504$4,087$2,998$2,176$947
27 years$6,963$5,180$3,795$2,744$1,962$821
28 years$6,642$4,881$3,528$2,514$1,771$712
29 years$6,344$4,605$3,283$2,305$1,599$617
30 years$6,066$4,349$3,058$2,116$1,445$535
31 years$5,807$4,111$2,851$1,943$1,306$465
32 years$5,564$3,890$2,660$1,786$1,181$403
33 years$5,337$3,684$2,484$1,642$1,069$350
34 years$5,123$3,491$2,320$1,511$968$304
35 years$4,922$3,311$2,169$1,391$877$264
36 years$4,733$3,143$2,029$1,281$794$229
37 years$4,554$2,985$1,900$1,180$720$199
38 years$4,385$2,837$1,779$1,088$653$173
39 years$4,226$2,698$1,667$1,003$592$151
40 years$4,074$2,567$1,562$925$537$131
41 years$3,930$2,443$1,465$854$487$114
42 years$3,794$2,327$1,374$788$442$99
43 years$3,664$2,217$1,289$727$401$86
44 years$3,541$2,113$1,210$671$364$75
45 years$3,423$2,015$1,136$620$331$65
46 years$3,311$1,922$1,067$573$300$56
47 years$3,204$1,835$1,003$529$273$49
48 years$3,101$1,751$942$489$247$43
49 years$3,003$1,672$886$452$225$37
50 years$2,910$1,598$833$418$204$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $2,980,000, adding $2,846 every year, while hoping to spend $56,778 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: 51/30/19 Blend
71$2,980,000$2,980,000$2,980,000$2,980,000
72$3,286,896$3,128,956$3,082,766$3,437,116
73$3,561,748$3,221,863$3,125,627$3,633,873
74$3,862,732$3,317,420$3,168,021$3,841,567
75$4,192,453$3,415,696$3,209,873$4,066,166
76$4,553,781$3,516,764$3,251,101$4,309,290
77$4,949,877$3,620,695$3,291,623$4,572,720
78$5,384,219$3,727,564$3,331,347$4,858,419
79$5,860,643$3,837,448$3,370,181$5,168,547
80$6,383,369$3,950,424$3,408,023$5,505,481
81$6,957,049$4,066,571$3,444,768$5,871,841
82$7,586,806$4,185,971$3,480,305$6,270,509
83$8,278,282$4,308,705$3,514,518$6,704,659
84$9,037,694$4,434,859$3,547,281$7,177,787
85$9,871,890$4,564,517$3,578,466$7,693,744
86$10,788,412$4,697,768$3,607,934$8,256,771
87$11,795,572$4,834,701$3,635,541$8,871,536
88$12,902,524$4,975,405$3,661,136$9,543,186
89$14,119,355$5,119,974$3,684,558$10,277,386
90$15,457,178$5,268,501$3,705,639$11,080,378
91$16,928,234$5,421,081$3,724,202$11,959,039
92$18,546,012$5,577,813$3,740,061$12,920,944
93$20,325,373$5,738,794$3,753,021$13,974,436
94$22,282,691$5,904,124$3,762,877$15,128,712
95$24,436,005$6,073,906$3,769,413$16,393,898
96$26,805,193$6,248,242$3,772,403$17,781,154
97$29,412,154$6,427,237$3,771,610$19,302,777
98$32,281,019$6,610,997$3,766,784$20,972,311
99$35,438,376$6,799,630$3,757,665$22,804,683
100$38,913,522$6,993,243$3,743,978$24,816,338