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%12.1%
1 years$166,810$165,324$163,874$162,459$161,078$159,661
2 years$82,579$81,041$79,551$78,105$76,704$75,276
3 years$54,506$52,961$51,474$50,043$48,664$47,270
4 years$40,472$38,932$37,460$36,053$34,708$33,358
5 years$32,054$30,523$29,071$27,692$26,384$25,082
6 years$26,444$24,925$23,493$22,146$20,877$19,625
7 years$22,438$20,932$19,523$18,207$16,978$15,777
8 years$19,435$17,942$16,557$15,274$14,085$12,934
9 years$17,101$15,622$14,261$13,010$11,862$10,760
10 years$15,234$13,770$12,433$11,214$10,107$9,054
11 years$13,708$12,259$10,946$9,760$8,692$7,688
12 years$12,437$11,003$9,714$8,561$7,533$6,576
13 years$11,363$9,943$8,679$7,558$6,569$5,658
14 years$10,443$9,038$7,798$6,709$5,758$4,893
15 years$9,646$8,256$7,040$5,983$5,070$4,248
16 years$8,949$7,575$6,383$5,357$4,481$3,702
17 years$8,335$6,976$5,808$4,814$3,973$3,235
18 years$7,790$6,447$5,302$4,338$3,532$2,835
19 years$7,303$5,975$4,854$3,920$3,149$2,490
20 years$6,865$5,552$4,455$3,550$2,812$2,190
21 years$6,470$5,171$4,098$3,222$2,517$1,930
22 years$6,110$4,827$3,777$2,929$2,256$1,704
23 years$5,783$4,515$3,487$2,668$2,025$1,505
24 years$5,483$4,230$3,225$2,433$1,820$1,332
25 years$5,208$3,970$2,987$2,222$1,638$1,179
26 years$4,954$3,731$2,770$2,032$1,475$1,045
27 years$4,720$3,511$2,572$1,860$1,330$927
28 years$4,502$3,309$2,391$1,704$1,200$822
29 years$4,300$3,121$2,225$1,563$1,084$730
30 years$4,112$2,948$2,073$1,434$979$649
31 years$3,936$2,787$1,932$1,317$885$577
32 years$3,772$2,637$1,803$1,210$801$513
33 years$3,618$2,497$1,683$1,113$725$456
34 years$3,473$2,367$1,573$1,024$656$406
35 years$3,337$2,245$1,471$943$594$361
36 years$3,208$2,131$1,376$868$538$322
37 years$3,087$2,023$1,288$800$488$286
38 years$2,973$1,923$1,206$737$442$255
39 years$2,864$1,829$1,130$680$401$227
40 years$2,762$1,740$1,059$627$364$202
41 years$2,664$1,656$993$579$330$180
42 years$2,572$1,577$931$534$300$161
43 years$2,484$1,503$874$493$272$143
44 years$2,400$1,432$820$455$247$128
45 years$2,320$1,366$770$420$224$114
46 years$2,244$1,303$723$388$203$101
47 years$2,172$1,244$680$359$185$90
48 years$2,102$1,187$639$331$168$81
49 years$2,036$1,134$600$306$152$72
50 years$1,972$1,083$564$283$138$64

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 $4,122 every year, while hoping to spend $37,010 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: 50/27/23 Blend
70$2,020,000$2,020,000$2,020,000$2,020,000
71$2,230,292$2,123,232$2,091,922$2,327,208
72$2,418,403$2,187,892$2,122,623$2,459,608
73$2,624,462$2,254,480$2,153,112$2,599,342
74$2,850,258$2,323,051$2,183,343$2,750,456
75$3,097,767$2,393,662$2,213,267$2,914,040
76$3,369,160$2,466,373$2,242,832$3,091,297
77$3,666,830$2,541,241$2,271,983$3,283,549
78$3,993,415$2,618,330$2,300,662$3,492,252
79$4,351,817$2,697,702$2,328,808$3,719,010
80$4,745,234$2,779,422$2,356,356$3,965,588
81$5,177,191$2,863,556$2,383,237$4,233,929
82$5,651,568$2,950,173$2,409,378$4,526,175
83$6,172,639$3,039,343$2,434,704$4,844,683
84$6,745,115$3,131,138$2,459,133$5,192,049
85$7,374,184$3,225,631$2,482,581$5,571,132
86$8,065,562$3,322,898$2,504,959$5,985,083
87$8,825,545$3,423,015$2,526,171$6,437,370
88$9,661,071$3,526,064$2,546,118$6,931,815
89$10,579,784$3,632,124$2,564,696$7,472,628
90$11,590,103$3,741,280$2,581,795$8,064,446
91$12,701,308$3,853,617$2,597,299$8,712,378
92$13,923,619$3,969,222$2,611,087$9,422,052
93$15,268,300$4,088,185$2,623,030$10,199,670
94$16,747,759$4,210,599$2,632,993$11,052,063
95$18,375,668$4,336,556$2,640,837$11,986,757
96$20,167,093$4,466,154$2,646,412$13,012,045
97$22,138,632$4,599,491$2,649,562$14,137,065
98$24,308,575$4,736,668$2,650,125$15,371,884
99$26,697,073$4,877,789$2,647,928$16,727,594
100$29,326,333$5,022,959$2,642,792$18,216,418