Can I retire at age 71 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%16.2%
1 years$168,461$166,961$165,497$164,068$162,672$158,547
2 years$83,397$81,843$80,338$78,879$77,463$73,333
3 years$55,046$53,486$51,984$50,538$49,146$45,141
4 years$40,873$39,318$37,831$36,410$35,051$31,202
5 years$32,371$30,825$29,359$27,966$26,645$22,963
6 years$26,705$25,171$23,726$22,365$21,084$17,572
7 years$22,660$21,139$19,716$18,387$17,147$13,805
8 years$19,627$18,120$16,721$15,425$14,225$11,052
9 years$17,270$15,777$14,402$13,138$11,979$8,973
10 years$15,385$13,906$12,556$11,326$10,207$7,364
11 years$13,844$12,380$11,054$9,857$8,778$6,093
12 years$12,560$11,112$9,810$8,646$7,607$5,076
13 years$11,475$10,042$8,765$7,633$6,634$4,251
14 years$10,546$9,128$7,875$6,775$5,815$3,576
15 years$9,741$8,338$7,110$6,043$5,120$3,019
16 years$9,038$7,650$6,446$5,410$4,525$2,556
17 years$8,418$7,045$5,866$4,861$4,012$2,170
18 years$7,867$6,510$5,355$4,381$3,567$1,845
19 years$7,376$6,034$4,902$3,959$3,180$1,572
20 years$6,933$5,607$4,499$3,585$2,840$1,342
21 years$6,534$5,223$4,138$3,254$2,542$1,146
22 years$6,171$4,875$3,814$2,958$2,278$980
23 years$5,840$4,560$3,522$2,694$2,045$839
24 years$5,538$4,272$3,257$2,457$1,838$719
25 years$5,259$4,009$3,016$2,244$1,654$616
26 years$5,003$3,768$2,798$2,052$1,490$529
27 years$4,766$3,546$2,598$1,878$1,343$454
28 years$4,547$3,341$2,415$1,721$1,212$389
29 years$4,343$3,152$2,247$1,578$1,094$334
30 years$4,153$2,977$2,093$1,448$989$287
31 years$3,975$2,814$1,952$1,330$894$247
32 years$3,809$2,663$1,821$1,222$809$212
33 years$3,653$2,522$1,700$1,124$732$182
34 years$3,507$2,390$1,589$1,034$663$157
35 years$3,370$2,267$1,485$952$600$135
36 years$3,240$2,152$1,389$877$544$116
37 years$3,118$2,044$1,300$808$493$100
38 years$3,002$1,942$1,218$745$447$86
39 years$2,893$1,847$1,141$687$405$74
40 years$2,789$1,757$1,069$633$368$63
41 years$2,691$1,673$1,003$584$333$55
42 years$2,597$1,593$941$539$303$47
43 years$2,508$1,518$883$498$275$40
44 years$2,424$1,447$828$460$249$35
45 years$2,343$1,380$778$424$226$30
46 years$2,266$1,316$731$392$205$26
47 years$2,193$1,256$686$362$187$22
48 years$2,123$1,199$645$335$169$19
49 years$2,056$1,145$606$309$154$16
50 years$1,992$1,094$570$286$140$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,040,000, adding $2,222 every year, while hoping to spend $21,544 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: 62/22/16 Blend
70$2,040,000$2,040,000$2,040,000$2,040,000
71$2,250,372$2,142,252$2,110,632$2,380,765
72$2,456,987$2,224,300$2,158,416$2,550,771
73$2,683,955$2,309,646$2,207,078$2,733,645
74$2,933,329$2,398,429$2,256,625$2,932,769
75$3,207,371$2,490,794$2,307,064$3,149,723
76$3,508,573$2,586,893$2,358,401$3,386,245
77$3,839,679$2,686,883$2,410,640$3,644,249
78$4,203,716$2,790,929$2,463,785$3,925,841
79$4,604,014$2,899,204$2,517,841$4,233,336
80$5,044,246$3,011,887$2,572,811$4,569,286
81$5,528,456$3,129,167$2,628,697$4,936,498
82$6,061,100$3,251,238$2,685,501$5,338,063
83$6,647,090$3,378,306$2,743,223$5,777,382
84$7,291,836$3,510,585$2,801,863$6,258,203
85$8,001,297$3,648,298$2,861,420$6,784,648
86$8,782,043$3,791,679$2,921,891$7,361,260
87$9,641,311$3,940,970$2,983,274$7,993,038
88$10,587,074$4,096,427$3,045,563$8,685,489
89$11,628,119$4,258,315$3,108,752$9,444,676
90$12,774,127$4,426,913$3,172,835$10,277,277
91$14,035,766$4,602,510$3,237,804$11,190,647
92$15,424,791$4,785,409$3,303,646$12,192,885
93$16,954,153$4,975,928$3,370,352$13,292,912
94$18,638,126$5,174,397$3,437,908$14,500,553
95$20,492,435$5,381,163$3,506,298$15,826,631
96$22,534,410$5,596,587$3,575,506$17,283,067
97$24,783,146$5,821,047$3,645,512$18,882,991
98$27,259,686$6,054,937$3,716,296$20,640,868
99$29,987,216$6,298,670$3,787,834$22,572,633
100$32,991,285$6,552,679$3,860,099$24,695,835