Can I retire at age 71 with 2,020,000?

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 $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$166,810$165,324$163,874$162,459$161,078$157,439
2 years$82,579$81,041$79,551$78,105$76,704$73,058
3 years$54,506$52,961$51,474$50,043$48,664$45,124
4 years$40,472$38,932$37,460$36,053$34,708$31,301
5 years$32,054$30,523$29,071$27,692$26,384$23,121
6 years$26,444$24,925$23,493$22,146$20,877$17,760
7 years$22,438$20,932$19,523$18,207$16,978$14,008
8 years$19,435$17,942$16,557$15,274$14,085$11,261
9 years$17,101$15,622$14,261$13,010$11,862$9,181
10 years$15,234$13,770$12,433$11,214$10,107$7,567
11 years$13,708$12,259$10,946$9,760$8,692$6,290
12 years$12,437$11,003$9,714$8,561$7,533$5,264
13 years$11,363$9,943$8,679$7,558$6,569$4,429
14 years$10,443$9,038$7,798$6,709$5,758$3,744
15 years$9,646$8,256$7,040$5,983$5,070$3,176
16 years$8,949$7,575$6,383$5,357$4,481$2,702
17 years$8,335$6,976$5,808$4,814$3,973$2,305
18 years$7,790$6,447$5,302$4,338$3,532$1,971
19 years$7,303$5,975$4,854$3,920$3,149$1,688
20 years$6,865$5,552$4,455$3,550$2,812$1,448
21 years$6,470$5,171$4,098$3,222$2,517$1,244
22 years$6,110$4,827$3,777$2,929$2,256$1,070
23 years$5,783$4,515$3,487$2,668$2,025$921
24 years$5,483$4,230$3,225$2,433$1,820$793
25 years$5,208$3,970$2,987$2,222$1,638$684
26 years$4,954$3,731$2,770$2,032$1,475$590
27 years$4,720$3,511$2,572$1,860$1,330$509
28 years$4,502$3,309$2,391$1,704$1,200$439
29 years$4,300$3,121$2,225$1,563$1,084$380
30 years$4,112$2,948$2,073$1,434$979$328
31 years$3,936$2,787$1,932$1,317$885$283
32 years$3,772$2,637$1,803$1,210$801$245
33 years$3,618$2,497$1,683$1,113$725$212
34 years$3,473$2,367$1,573$1,024$656$183
35 years$3,337$2,245$1,471$943$594$158
36 years$3,208$2,131$1,376$868$538$137
37 years$3,087$2,023$1,288$800$488$119
38 years$2,973$1,923$1,206$737$442$103
39 years$2,864$1,829$1,130$680$401$89
40 years$2,762$1,740$1,059$627$364$77
41 years$2,664$1,656$993$579$330$66
42 years$2,572$1,577$931$534$300$58
43 years$2,484$1,503$874$493$272$50
44 years$2,400$1,432$820$455$247$43
45 years$2,320$1,366$770$420$224$37
46 years$2,244$1,303$723$388$203$32
47 years$2,172$1,244$680$359$185$28
48 years$2,102$1,187$639$331$168$24
49 years$2,036$1,134$600$306$152$21
50 years$1,972$1,083$564$283$138$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,020,000, adding $4,406 every year, while hoping to spend $31,917 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: 59/36/5 Blend
70$2,020,000$2,020,000$2,020,000$2,020,000
71$2,230,585$2,123,525$2,092,215$2,359,963
72$2,424,145$2,193,618$2,128,345$2,517,210
73$2,636,379$2,266,076$2,164,615$2,684,523
74$2,869,157$2,340,981$2,200,997$2,866,125
75$3,124,540$2,418,419$2,237,460$3,063,389
76$3,404,798$2,498,476$2,273,970$3,277,820
77$3,712,432$2,581,246$2,310,492$3,511,078
78$4,050,195$2,666,822$2,346,988$3,764,987
79$4,421,121$2,755,303$2,383,419$4,041,555
80$4,828,553$2,846,790$2,419,741$4,342,990
81$5,276,172$2,941,389$2,455,909$4,671,726
82$5,768,034$3,039,210$2,491,874$5,030,436
83$6,308,607$3,140,365$2,527,586$5,422,068
84$6,902,814$3,244,972$2,562,989$5,849,862
85$7,556,078$3,353,152$2,598,026$6,317,388
86$8,274,374$3,465,033$2,632,636$6,828,576
87$9,064,285$3,580,744$2,666,754$7,387,752
88$9,933,063$3,700,422$2,700,311$7,999,679
89$10,888,700$3,824,207$2,733,236$8,669,602
90$11,939,999$3,952,245$2,765,451$9,403,297
91$13,096,661$4,084,687$2,796,876$10,207,124
92$14,369,375$4,221,691$2,827,426$11,088,087
93$15,769,916$4,363,419$2,857,010$12,053,899
94$17,311,261$4,510,040$2,885,533$13,113,058
95$19,007,706$4,661,728$2,912,895$14,274,919
96$20,875,006$4,818,667$2,938,991$15,549,788
97$22,930,519$4,981,043$2,963,709$16,949,018
98$25,193,371$5,149,054$2,986,932$18,485,111
99$27,684,638$5,322,901$3,008,538$20,171,842
100$30,427,543$5,502,795$3,028,396$22,024,381