Can I retire at age 71 with 2,030,000?

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 $2,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$167,636$166,142$164,685$163,264$161,875$160,787
2 years$82,988$81,442$79,944$78,492$77,083$75,987
3 years$54,776$53,223$51,729$50,291$48,905$47,833
4 years$40,672$39,125$37,646$36,232$34,879$33,840
5 years$32,213$30,674$29,215$27,829$26,515$25,512
6 years$26,575$25,048$23,610$22,255$20,980$20,014
7 years$22,549$21,035$19,620$18,297$17,063$16,134
8 years$19,531$18,031$16,639$15,349$14,155$13,265
9 years$17,185$15,699$14,331$13,074$11,921$11,068
10 years$15,310$13,838$12,494$11,270$10,157$9,341
11 years$13,776$12,319$11,000$9,808$8,735$7,956
12 years$12,499$11,057$9,762$8,603$7,570$6,826
13 years$11,419$9,992$8,722$7,595$6,601$5,893
14 years$10,494$9,083$7,837$6,742$5,786$5,112
15 years$9,694$8,297$7,075$6,013$5,095$4,454
16 years$8,994$7,613$6,415$5,384$4,503$3,894
17 years$8,377$7,011$5,837$4,837$3,993$3,415
18 years$7,829$6,478$5,329$4,359$3,550$3,003
19 years$7,339$6,004$4,878$3,939$3,164$2,647
20 years$6,899$5,579$4,477$3,568$2,826$2,337
21 years$6,502$5,197$4,118$3,238$2,529$2,067
22 years$6,141$4,851$3,795$2,944$2,267$1,831
23 years$5,812$4,537$3,504$2,681$2,035$1,624
24 years$5,510$4,251$3,241$2,445$1,829$1,443
25 years$5,234$3,989$3,002$2,233$1,646$1,282
26 years$4,979$3,749$2,784$2,042$1,483$1,141
27 years$4,743$3,529$2,585$1,869$1,337$1,016
28 years$4,524$3,325$2,403$1,712$1,206$905
29 years$4,321$3,137$2,236$1,570$1,089$807
30 years$4,132$2,962$2,083$1,441$984$720
31 years$3,956$2,800$1,942$1,324$890$642
32 years$3,790$2,650$1,812$1,216$805$574
33 years$3,635$2,509$1,692$1,119$728$512
34 years$3,490$2,378$1,581$1,029$659$458
35 years$3,353$2,256$1,478$947$597$409
36 years$3,224$2,141$1,383$873$541$366
37 years$3,102$2,034$1,294$804$490$327
38 years$2,987$1,933$1,212$741$445$293
39 years$2,878$1,838$1,135$683$403$262
40 years$2,775$1,748$1,064$630$366$234
41 years$2,677$1,664$998$581$332$210
42 years$2,584$1,585$936$537$301$188
43 years$2,496$1,510$878$495$273$168
44 years$2,412$1,440$824$457$248$150
45 years$2,332$1,373$774$422$225$135
46 years$2,255$1,310$727$390$204$120
47 years$2,182$1,250$683$360$186$108
48 years$2,113$1,193$642$333$169$97
49 years$2,046$1,139$603$308$153$87
50 years$1,982$1,088$567$285$139$77

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,030,000, adding $6,992 every year, while hoping to spend $56,047 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: 65/19/16 Blend
70$2,030,000$2,030,000$2,030,000$2,030,000
71$2,244,272$2,136,682$2,105,217$2,380,969
72$2,413,554$2,181,746$2,116,108$2,518,421
73$2,598,225$2,227,140$2,125,486$2,661,451
74$2,799,794$2,272,820$2,133,240$2,816,378
75$3,019,925$2,318,740$2,139,255$2,984,367
76$3,260,447$2,364,848$2,143,411$3,166,697
77$3,523,376$2,411,089$2,145,578$3,364,780
78$3,810,931$2,457,402$2,145,625$3,580,171
79$4,125,553$2,503,722$2,143,411$3,814,584
80$4,469,933$2,549,978$2,138,788$4,069,907
81$4,847,032$2,596,093$2,131,604$4,348,221
82$5,260,112$2,641,984$2,121,695$4,651,820
83$5,712,764$2,687,563$2,108,893$4,983,229
84$6,208,945$2,732,732$2,093,020$5,345,236
85$6,753,011$2,777,390$2,073,890$5,740,908
86$7,349,761$2,821,424$2,051,307$6,173,630
87$8,004,479$2,864,716$2,025,069$6,647,129
88$8,722,987$2,907,139$1,994,960$7,165,515
89$9,511,698$2,948,554$1,960,757$7,733,317
90$10,377,674$2,988,817$1,922,226$8,355,527
91$11,328,698$3,027,769$1,879,121$9,037,646
92$12,373,339$3,065,244$1,831,186$9,785,740
93$13,521,041$3,101,063$1,778,152$10,606,491
94$14,782,206$3,135,033$1,719,738$11,507,266
95$16,168,293$3,166,952$1,655,652$12,496,186
96$17,691,927$3,196,601$1,585,585$13,582,199
97$19,367,018$3,223,749$1,509,216$14,775,169
98$21,208,889$3,248,148$1,426,210$16,085,969
99$23,234,424$3,269,536$1,336,217$17,526,582
100$25,462,224$3,287,632$1,238,868$19,110,215