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%11.4%
1 years$170,113$168,598$167,119$165,676$164,267$163,300
2 years$84,214$82,646$81,126$79,652$78,223$77,247
3 years$55,585$54,010$52,494$51,034$49,628$48,674
4 years$41,273$39,703$38,202$36,767$35,395$34,470
5 years$32,689$31,128$29,646$28,241$26,907$26,013
6 years$26,967$25,418$23,959$22,584$21,290$20,430
7 years$22,882$21,346$19,910$18,568$17,315$16,488
8 years$19,820$18,298$16,885$15,576$14,364$13,570
9 years$17,439$15,931$14,543$13,267$12,097$11,336
10 years$15,536$14,043$12,679$11,437$10,307$9,579
11 years$13,980$12,501$11,162$9,953$8,864$8,169
12 years$12,684$11,221$9,906$8,730$7,682$7,018
13 years$11,588$10,140$8,851$7,708$6,699$6,066
14 years$10,649$9,217$7,952$6,842$5,872$5,269
15 years$9,837$8,420$7,180$6,102$5,170$4,597
16 years$9,127$7,725$6,510$5,463$4,569$4,025
17 years$8,501$7,115$5,924$4,909$4,052$3,535
18 years$7,945$6,574$5,407$4,424$3,602$3,112
19 years$7,448$6,093$4,950$3,997$3,211$2,747
20 years$7,001$5,662$4,543$3,620$2,868$2,429
21 years$6,598$5,274$4,179$3,286$2,567$2,152
22 years$6,231$4,923$3,851$2,987$2,301$1,909
23 years$5,897$4,604$3,556$2,721$2,065$1,696
24 years$5,592$4,314$3,289$2,481$1,856$1,508
25 years$5,311$4,048$3,046$2,266$1,670$1,343
26 years$5,052$3,805$2,825$2,072$1,505$1,197
27 years$4,813$3,581$2,623$1,897$1,356$1,067
28 years$4,591$3,374$2,439$1,738$1,224$952
29 years$4,385$3,183$2,269$1,594$1,105$850
30 years$4,193$3,006$2,114$1,462$999$760
31 years$4,014$2,842$1,971$1,343$903$679
32 years$3,846$2,689$1,839$1,234$817$607
33 years$3,689$2,546$1,717$1,135$739$543
34 years$3,542$2,413$1,604$1,044$669$486
35 years$3,403$2,289$1,500$961$606$435
36 years$3,272$2,173$1,403$885$549$390
37 years$3,148$2,064$1,313$816$498$349
38 years$3,032$1,961$1,230$752$451$313
39 years$2,921$1,865$1,152$693$409$280
40 years$2,816$1,774$1,080$640$371$251
41 years$2,717$1,689$1,013$590$337$225
42 years$2,623$1,608$950$545$306$202
43 years$2,533$1,533$891$503$277$181
44 years$2,448$1,461$837$464$252$162
45 years$2,366$1,393$786$429$228$146
46 years$2,289$1,329$738$396$207$131
47 years$2,215$1,268$693$366$188$117
48 years$2,144$1,211$651$338$171$105
49 years$2,076$1,156$612$312$155$94
50 years$2,011$1,104$576$289$141$85

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 $6,889 every year, while hoping to spend $21,606 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: 25/50/25 Blend
70$2,060,000$2,060,000$2,060,000$2,060,000
71$2,277,226$2,168,046$2,136,116$2,316,020
72$2,486,514$2,251,292$2,184,687$2,431,648
73$2,716,426$2,337,892$2,234,162$2,553,236
74$2,969,042$2,427,989$2,284,546$2,683,149
75$3,246,654$2,521,730$2,335,848$2,822,098
76$3,551,788$2,619,270$2,388,074$2,970,863
77$3,887,225$2,720,770$2,441,230$3,130,294
78$4,256,032$2,826,397$2,495,321$3,301,327
79$4,661,585$2,936,328$2,550,352$3,484,985
80$5,107,604$3,050,746$2,606,326$3,682,390
81$5,598,189$3,169,842$2,663,248$3,894,774
82$6,137,857$3,293,817$2,721,119$4,123,485
83$6,731,583$3,422,879$2,779,941$4,370,006
84$7,384,851$3,557,246$2,839,716$4,635,960
85$8,103,702$3,697,147$2,900,442$4,923,133
86$8,894,791$3,842,819$2,962,118$5,233,482
87$9,765,454$3,994,511$3,024,743$5,569,159
88$10,723,771$4,152,483$3,088,313$5,932,523
89$11,778,647$4,317,006$3,152,823$6,326,172
90$12,939,894$4,488,364$3,218,268$6,752,953
91$14,218,323$4,666,853$3,284,639$7,216,000
92$15,625,845$4,852,783$3,351,928$7,718,755
93$17,175,589$5,046,477$3,420,125$8,265,000
94$18,882,017$5,248,272$3,489,218$8,858,896
95$20,761,069$5,458,523$3,559,192$9,505,015
96$22,830,306$5,677,599$3,630,033$10,208,384
97$25,109,080$5,905,885$3,701,723$10,974,535
98$27,618,718$6,143,784$3,774,241$11,809,547
99$30,382,716$6,391,719$3,847,568$12,720,111
100$33,426,969$6,650,130$3,921,678$13,713,585