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%13.7%
1 years$168,461$166,961$165,497$164,068$162,672$160,175
2 years$83,397$81,843$80,338$78,879$77,463$74,953
3 years$55,046$53,486$51,984$50,538$49,146$46,702
4 years$40,873$39,318$37,831$36,410$35,051$32,691
5 years$32,371$30,825$29,359$27,966$26,645$24,376
6 years$26,705$25,171$23,726$22,365$21,084$18,908
7 years$22,660$21,139$19,716$18,387$17,147$15,066
8 years$19,627$18,120$16,721$15,425$14,225$12,238
9 years$17,270$15,777$14,402$13,138$11,979$10,086
10 years$15,385$13,906$12,556$11,326$10,207$8,405
11 years$13,844$12,380$11,054$9,857$8,778$7,066
12 years$12,560$11,112$9,810$8,646$7,607$5,983
13 years$11,475$10,042$8,765$7,633$6,634$5,094
14 years$10,546$9,128$7,875$6,775$5,815$4,359
15 years$9,741$8,338$7,110$6,043$5,120$3,744
16 years$9,038$7,650$6,446$5,410$4,525$3,226
17 years$8,418$7,045$5,866$4,861$4,012$2,788
18 years$7,867$6,510$5,355$4,381$3,567$2,415
19 years$7,376$6,034$4,902$3,959$3,180$2,097
20 years$6,933$5,607$4,499$3,585$2,840$1,823
21 years$6,534$5,223$4,138$3,254$2,542$1,587
22 years$6,171$4,875$3,814$2,958$2,278$1,384
23 years$5,840$4,560$3,522$2,694$2,045$1,208
24 years$5,538$4,272$3,257$2,457$1,838$1,056
25 years$5,259$4,009$3,016$2,244$1,654$923
26 years$5,003$3,768$2,798$2,052$1,490$808
27 years$4,766$3,546$2,598$1,878$1,343$707
28 years$4,547$3,341$2,415$1,721$1,212$620
29 years$4,343$3,152$2,247$1,578$1,094$543
30 years$4,153$2,977$2,093$1,448$989$476
31 years$3,975$2,814$1,952$1,330$894$418
32 years$3,809$2,663$1,821$1,222$809$367
33 years$3,653$2,522$1,700$1,124$732$322
34 years$3,507$2,390$1,589$1,034$663$282
35 years$3,370$2,267$1,485$952$600$248
36 years$3,240$2,152$1,389$877$544$218
37 years$3,118$2,044$1,300$808$493$191
38 years$3,002$1,942$1,218$745$447$168
39 years$2,893$1,847$1,141$687$405$148
40 years$2,789$1,757$1,069$633$368$130
41 years$2,691$1,673$1,003$584$333$114
42 years$2,597$1,593$941$539$303$100
43 years$2,508$1,518$883$498$275$88
44 years$2,424$1,447$828$460$249$78
45 years$2,343$1,380$778$424$226$68
46 years$2,266$1,316$731$392$205$60
47 years$2,193$1,256$686$362$187$53
48 years$2,123$1,199$645$335$169$46
49 years$2,056$1,145$606$309$154$41
50 years$1,992$1,094$570$286$140$36

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 $4,332 every year, while hoping to spend $40,697 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: 77/6/17 Blend
70$2,040,000$2,040,000$2,040,000$2,040,000
71$2,252,548$2,144,428$2,112,808$2,417,168
72$2,439,007$2,206,204$2,140,286$2,588,266
73$2,643,121$2,269,643$2,167,321$2,770,326
74$2,866,647$2,334,783$2,193,854$2,968,881
75$3,111,521$2,401,664$2,219,824$3,185,566
76$3,379,876$2,470,325$2,245,168$3,422,180
77$3,674,058$2,540,806$2,269,816$3,680,707
78$3,996,655$2,613,148$2,293,698$3,963,331
79$4,350,513$2,687,392$2,316,736$4,272,458
80$4,738,771$2,763,579$2,338,852$4,610,738
81$5,164,882$2,841,752$2,359,960$4,981,092
82$5,632,653$2,921,951$2,379,972$5,386,736
83$6,146,278$3,004,220$2,398,795$5,831,214
84$6,710,373$3,088,602$2,416,330$6,318,431
85$7,330,027$3,175,140$2,432,473$6,852,687
86$8,010,845$3,263,877$2,447,116$7,438,724
87$8,759,000$3,354,856$2,460,143$8,081,763
88$9,581,296$3,448,121$2,471,435$8,787,556
89$10,485,225$3,543,716$2,480,865$9,562,445
90$11,479,044$3,641,684$2,488,300$10,413,414
91$12,571,848$3,742,068$2,493,600$11,348,160
92$13,773,660$3,844,913$2,496,619$12,375,163
93$15,095,521$3,950,261$2,497,203$13,503,769
94$16,549,595$4,058,155$2,495,190$14,744,274
95$18,149,286$4,168,637$2,490,412$16,108,025
96$19,909,362$4,281,749$2,482,689$17,607,525
97$21,846,094$4,397,532$2,471,837$19,256,551
98$23,977,412$4,516,027$2,457,659$21,070,285
99$26,323,068$4,637,273$2,439,952$23,065,455
100$28,904,831$4,761,309$2,418,500$25,260,496