Can I retire at age 71 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$170,113$168,598$167,119$165,676$164,267$162,147
2 years$84,214$82,646$81,126$79,652$78,223$76,090
3 years$55,585$54,010$52,494$51,034$49,628$47,548
4 years$41,273$39,703$38,202$36,767$35,395$33,385
5 years$32,689$31,128$29,646$28,241$26,907$24,972
6 years$26,967$25,418$23,959$22,584$21,290$19,433
7 years$22,882$21,346$19,910$18,568$17,315$15,536
8 years$19,820$18,298$16,885$15,576$14,364$12,664
9 years$17,439$15,931$14,543$13,267$12,097$10,474
10 years$15,536$14,043$12,679$11,437$10,307$8,760
11 years$13,980$12,501$11,162$9,953$8,864$7,392
12 years$12,684$11,221$9,906$8,730$7,682$6,283
13 years$11,588$10,140$8,851$7,708$6,699$5,371
14 years$10,649$9,217$7,952$6,842$5,872$4,614
15 years$9,837$8,420$7,180$6,102$5,170$3,979
16 years$9,127$7,725$6,510$5,463$4,569$3,444
17 years$8,501$7,115$5,924$4,909$4,052$2,989
18 years$7,945$6,574$5,407$4,424$3,602$2,600
19 years$7,448$6,093$4,950$3,997$3,211$2,267
20 years$7,001$5,662$4,543$3,620$2,868$1,980
21 years$6,598$5,274$4,179$3,286$2,567$1,732
22 years$6,231$4,923$3,851$2,987$2,301$1,517
23 years$5,897$4,604$3,556$2,721$2,065$1,330
24 years$5,592$4,314$3,289$2,481$1,856$1,168
25 years$5,311$4,048$3,046$2,266$1,670$1,026
26 years$5,052$3,805$2,825$2,072$1,505$902
27 years$4,813$3,581$2,623$1,897$1,356$794
28 years$4,591$3,374$2,439$1,738$1,224$699
29 years$4,385$3,183$2,269$1,594$1,105$615
30 years$4,193$3,006$2,114$1,462$999$542
31 years$4,014$2,842$1,971$1,343$903$478
32 years$3,846$2,689$1,839$1,234$817$422
33 years$3,689$2,546$1,717$1,135$739$372
34 years$3,542$2,413$1,604$1,044$669$328
35 years$3,403$2,289$1,500$961$606$290
36 years$3,272$2,173$1,403$885$549$256
37 years$3,148$2,064$1,313$816$498$226
38 years$3,032$1,961$1,230$752$451$199
39 years$2,921$1,865$1,152$693$409$176
40 years$2,816$1,774$1,080$640$371$156
41 years$2,717$1,689$1,013$590$337$137
42 years$2,623$1,608$950$545$306$121
43 years$2,533$1,533$891$503$277$107
44 years$2,448$1,461$837$464$252$95
45 years$2,366$1,393$786$429$228$84
46 years$2,289$1,329$738$396$207$74
47 years$2,215$1,268$693$366$188$65
48 years$2,144$1,211$651$338$171$58
49 years$2,076$1,156$612$312$155$51
50 years$2,011$1,104$576$289$141$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,060,000, adding $3,675 every year, while hoping to spend $32,887 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: 63/23/14 Blend
70$2,060,000$2,060,000$2,060,000$2,060,000
71$2,273,911$2,164,731$2,132,801$2,409,261
72$2,470,858$2,235,811$2,169,258$2,571,529
73$2,686,792$2,309,272$2,205,834$2,744,548
74$2,923,614$2,385,196$2,242,499$2,932,678
75$3,183,419$2,463,667$2,279,219$3,137,390
76$3,468,515$2,544,773$2,315,960$3,360,303
77$3,781,442$2,628,606$2,352,684$3,603,196
78$4,125,001$2,715,260$2,389,351$3,868,030
79$4,502,276$2,804,832$2,425,918$4,156,965
80$4,916,662$2,897,423$2,462,341$4,472,377
81$5,371,904$2,993,139$2,498,572$4,816,882
82$5,872,123$3,092,088$2,534,559$5,193,361
83$6,421,862$3,194,382$2,570,248$5,604,988
84$7,026,123$3,300,138$2,605,583$6,055,255
85$7,690,420$3,409,478$2,640,503$6,548,011
86$8,420,826$3,522,525$2,674,942$7,087,493
87$9,224,032$3,639,410$2,708,834$7,678,368
88$10,107,409$3,760,267$2,742,106$8,325,775
89$11,079,080$3,885,236$2,774,683$9,035,378
90$12,147,995$4,014,461$2,806,483$9,813,411
91$13,324,012$4,148,091$2,837,422$10,666,745
92$14,617,997$4,286,283$2,867,411$11,602,947
93$16,041,918$4,429,196$2,896,354$12,630,351
94$17,608,965$4,576,998$2,924,154$13,758,141
95$19,333,670$4,729,862$2,950,703$14,996,433
96$21,232,045$4,887,966$2,975,893$16,356,370
97$23,321,735$5,051,497$2,999,607$17,850,231
98$25,622,179$5,220,648$3,021,721$19,491,540
99$28,154,801$5,395,619$3,042,108$21,295,201
100$30,943,203$5,576,617$3,060,631$23,277,630