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%17.3%
1 years$170,113$168,598$167,119$165,676$164,267$159,392
2 years$84,214$82,646$81,126$79,652$78,223$73,351
3 years$55,585$54,010$52,494$51,034$49,628$44,913
4 years$41,273$39,703$38,202$36,767$35,395$30,873
5 years$32,689$31,128$29,646$28,241$26,907$22,589
6 years$26,967$25,418$23,959$22,584$21,290$17,182
7 years$22,882$21,346$19,910$18,568$17,315$13,415
8 years$19,820$18,298$16,885$15,576$14,364$10,671
9 years$17,439$15,931$14,543$13,267$12,097$8,606
10 years$15,536$14,043$12,679$11,437$10,307$7,014
11 years$13,980$12,501$11,162$9,953$8,864$5,763
12 years$12,684$11,221$9,906$8,730$7,682$4,766
13 years$11,588$10,140$8,851$7,708$6,699$3,962
14 years$10,649$9,217$7,952$6,842$5,872$3,308
15 years$9,837$8,420$7,180$6,102$5,170$2,771
16 years$9,127$7,725$6,510$5,463$4,569$2,328
17 years$8,501$7,115$5,924$4,909$4,052$1,960
18 years$7,945$6,574$5,407$4,424$3,602$1,654
19 years$7,448$6,093$4,950$3,997$3,211$1,397
20 years$7,001$5,662$4,543$3,620$2,868$1,182
21 years$6,598$5,274$4,179$3,286$2,567$1,002
22 years$6,231$4,923$3,851$2,987$2,301$849
23 years$5,897$4,604$3,556$2,721$2,065$721
24 years$5,592$4,314$3,289$2,481$1,856$612
25 years$5,311$4,048$3,046$2,266$1,670$520
26 years$5,052$3,805$2,825$2,072$1,505$442
27 years$4,813$3,581$2,623$1,897$1,356$376
28 years$4,591$3,374$2,439$1,738$1,224$320
29 years$4,385$3,183$2,269$1,594$1,105$272
30 years$4,193$3,006$2,114$1,462$999$232
31 years$4,014$2,842$1,971$1,343$903$197
32 years$3,846$2,689$1,839$1,234$817$168
33 years$3,689$2,546$1,717$1,135$739$143
34 years$3,542$2,413$1,604$1,044$669$122
35 years$3,403$2,289$1,500$961$606$104
36 years$3,272$2,173$1,403$885$549$89
37 years$3,148$2,064$1,313$816$498$75
38 years$3,032$1,961$1,230$752$451$64
39 years$2,921$1,865$1,152$693$409$55
40 years$2,816$1,774$1,080$640$371$47
41 years$2,717$1,689$1,013$590$337$40
42 years$2,623$1,608$950$545$306$34
43 years$2,533$1,533$891$503$277$29
44 years$2,448$1,461$837$464$252$25
45 years$2,366$1,393$786$429$228$21
46 years$2,289$1,329$738$396$207$18
47 years$2,215$1,268$693$366$188$15
48 years$2,144$1,211$651$338$171$13
49 years$2,076$1,156$612$312$155$11
50 years$2,011$1,104$576$289$141$9

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 $2,493 every year, while hoping to spend $48,878 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: 71/15/14 Blend
70$2,060,000$2,060,000$2,060,000$2,060,000
71$2,272,692$2,163,512$2,131,582$2,426,829
72$2,452,500$2,217,518$2,150,984$2,583,430
73$2,649,011$2,272,532$2,169,398$2,748,643
74$2,863,877$2,328,552$2,186,739$2,928,225
75$3,098,915$2,385,575$2,202,918$3,123,584
76$3,356,130$2,443,593$2,217,841$3,336,274
77$3,637,726$2,502,600$2,231,409$3,568,005
78$3,946,132$2,562,585$2,243,519$3,820,661
79$4,284,022$2,623,536$2,254,061$4,096,315
80$4,654,341$2,685,439$2,262,922$4,397,255
81$5,060,333$2,748,275$2,269,979$4,725,997
82$5,505,571$2,812,024$2,275,107$5,085,316
83$5,993,990$2,876,664$2,278,174$5,478,268
84$6,529,923$2,942,166$2,279,038$5,908,219
85$7,118,144$3,008,501$2,277,555$6,378,879
86$7,763,912$3,075,635$2,273,571$6,894,335
87$8,473,020$3,143,530$2,266,924$7,459,090
88$9,251,848$3,212,143$2,257,446$8,078,106
89$10,107,426$3,281,427$2,244,960$8,756,850
90$11,047,497$3,351,331$2,229,280$9,501,345
91$12,080,592$3,421,797$2,210,211$10,318,230
92$13,216,110$3,492,763$2,187,551$11,214,820
93$14,464,405$3,564,160$2,161,086$12,199,173
94$15,836,884$3,635,913$2,130,592$13,280,171
95$17,346,115$3,707,942$2,095,835$14,467,602
96$19,005,944$3,780,156$2,056,571$15,772,250
97$20,831,627$3,852,461$2,012,543$17,205,999
98$22,839,973$3,924,751$1,963,483$18,781,946
99$25,049,501$3,996,915$1,909,110$20,514,522
100$27,480,616$4,068,830$1,849,132$22,419,632