Can I retire at age 71 with 2,050,000?

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 $2,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$169,287$167,779$166,308$164,872$163,470$161,561
2 years$83,805$82,245$80,732$79,265$77,843$75,922
3 years$55,315$53,748$52,239$50,786$49,387$47,513
4 years$41,073$39,510$38,017$36,589$35,223$33,411
5 years$32,530$30,977$29,502$28,104$26,776$25,030
6 years$26,836$25,295$23,842$22,475$21,187$19,510
7 years$22,771$21,242$19,813$18,478$17,231$15,624
8 years$19,724$18,209$16,803$15,500$14,294$12,757
9 years$17,355$15,854$14,472$13,203$12,038$10,570
10 years$15,460$13,974$12,617$11,381$10,257$8,857
11 years$13,912$12,441$11,108$9,905$8,821$7,488
12 years$12,622$11,166$9,858$8,688$7,644$6,376
13 years$11,532$10,091$8,808$7,670$6,666$5,461
14 years$10,598$9,172$7,914$6,809$5,843$4,701
15 years$9,789$8,379$7,145$6,072$5,145$4,063
16 years$9,082$7,688$6,478$5,437$4,547$3,523
17 years$8,459$7,080$5,895$4,885$4,032$3,064
18 years$7,906$6,542$5,381$4,402$3,585$2,671
19 years$7,412$6,063$4,926$3,978$3,195$2,334
20 years$6,967$5,634$4,521$3,603$2,854$2,043
21 years$6,566$5,248$4,158$3,270$2,554$1,791
22 years$6,201$4,899$3,833$2,973$2,289$1,572
23 years$5,869$4,582$3,539$2,708$2,055$1,382
24 years$5,565$4,293$3,273$2,469$1,847$1,216
25 years$5,285$4,029$3,031$2,255$1,662$1,071
26 years$5,028$3,786$2,811$2,062$1,497$944
27 years$4,790$3,563$2,611$1,887$1,350$832
28 years$4,569$3,358$2,427$1,729$1,218$735
29 years$4,364$3,168$2,258$1,586$1,100$649
30 years$4,173$2,992$2,104$1,455$994$573
31 years$3,995$2,828$1,961$1,337$898$506
32 years$3,828$2,676$1,830$1,228$813$448
33 years$3,671$2,534$1,708$1,130$736$396
34 years$3,524$2,402$1,596$1,039$666$350
35 years$3,386$2,278$1,492$957$603$310
36 years$3,256$2,162$1,396$881$546$274
37 years$3,133$2,054$1,307$812$495$243
38 years$3,017$1,952$1,224$748$449$215
39 years$2,907$1,856$1,146$690$407$190
40 years$2,803$1,766$1,075$636$369$169
41 years$2,704$1,681$1,008$587$335$149
42 years$2,610$1,601$945$542$304$132
43 years$2,521$1,525$887$500$276$117
44 years$2,436$1,454$833$462$250$104
45 years$2,355$1,386$782$427$227$92
46 years$2,277$1,322$734$394$206$81
47 years$2,204$1,262$690$364$187$72
48 years$2,133$1,205$648$336$170$64
49 years$2,066$1,150$609$311$155$57
50 years$2,002$1,099$573$287$140$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,050,000, adding $3,292 every year, while hoping to spend $23,845 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: 69/15/16 Blend
70$2,050,000$2,050,000$2,050,000$2,050,000
71$2,262,496$2,153,846$2,122,071$2,409,888
72$2,467,899$2,234,013$2,167,789$2,588,637
73$2,693,455$2,317,310$2,214,240$2,780,999
74$2,941,193$2,403,864$2,261,423$2,990,864
75$3,213,350$2,493,808$2,309,336$3,219,953
76$3,512,390$2,587,283$2,357,976$3,470,161
77$3,841,027$2,684,433$2,407,342$3,743,575
78$4,202,252$2,785,410$2,457,428$4,042,492
79$4,599,359$2,890,373$2,508,229$4,369,441
80$5,035,978$2,999,486$2,559,740$4,727,206
81$5,516,108$3,112,921$2,611,951$5,118,856
82$6,044,155$3,230,858$2,664,856$5,547,765
83$6,624,973$3,353,484$2,718,442$6,017,654
84$7,263,910$3,480,995$2,772,700$6,532,619
85$7,966,859$3,613,594$2,827,616$7,097,169
86$8,740,313$3,751,494$2,883,175$7,716,273
87$9,591,426$3,894,918$2,939,362$8,395,404
88$10,528,080$4,044,097$2,996,159$9,140,587
89$11,558,959$4,199,274$3,053,546$9,958,463
90$12,693,634$4,360,699$3,111,501$10,856,344
91$13,942,650$4,528,638$3,170,001$11,842,285
92$15,317,624$4,703,366$3,229,020$12,925,160
93$16,831,360$4,885,169$3,288,530$14,114,745
94$18,497,964$5,074,347$3,348,501$15,421,809
95$20,332,980$5,271,214$3,408,900$16,858,215
96$22,353,537$5,476,097$3,469,691$18,437,032
97$24,578,509$5,689,336$3,530,837$20,172,660
98$27,028,692$5,911,289$3,592,295$22,080,962
99$29,727,004$6,142,328$3,654,023$24,179,414
100$32,698,698$6,382,841$3,715,972$26,487,273