Can I retire at age 71 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$175,068$173,508$171,987$170,502$169,052$165,503
2 years$86,667$85,053$83,489$81,972$80,501$76,942
3 years$57,204$55,583$54,023$52,520$51,073$47,616
4 years$42,476$40,859$39,315$37,838$36,426$33,096
5 years$33,641$32,034$30,510$29,063$27,690$24,498
6 years$27,753$26,158$24,656$23,242$21,910$18,859
7 years$23,549$21,968$20,490$19,109$17,819$14,909
8 years$20,397$18,830$17,377$16,030$14,783$12,013
9 years$17,947$16,395$14,967$13,654$12,449$9,818
10 years$15,988$14,452$13,048$11,770$10,607$8,112
11 years$14,387$12,865$11,488$10,243$9,123$6,760
12 years$13,053$11,547$10,195$8,985$7,905$5,672
13 years$11,925$10,435$9,108$7,932$6,894$4,785
14 years$10,960$9,486$8,184$7,041$6,043$4,055
15 years$10,123$8,665$7,389$6,280$5,321$3,450
16 years$9,392$7,950$6,699$5,623$4,702$2,944
17 years$8,748$7,322$6,096$5,052$4,170$2,519
18 years$8,176$6,766$5,565$4,553$3,707$2,160
19 years$7,665$6,270$5,094$4,114$3,304$1,855
20 years$7,205$5,827$4,675$3,726$2,952$1,597
21 years$6,790$5,427$4,300$3,381$2,641$1,376
22 years$6,413$5,066$3,964$3,075$2,368$1,187
23 years$6,069$4,738$3,660$2,800$2,125$1,024
24 years$5,755$4,440$3,385$2,554$1,910$885
25 years$5,466$4,166$3,135$2,332$1,719$766
26 years$5,199$3,916$2,907$2,132$1,548$663
27 years$4,953$3,685$2,700$1,952$1,396$574
28 years$4,725$3,472$2,510$1,788$1,260$497
29 years$4,513$3,276$2,336$1,640$1,137$431
30 years$4,315$3,094$2,175$1,505$1,028$373
31 years$4,131$2,925$2,028$1,382$929$324
32 years$3,958$2,767$1,892$1,270$840$281
33 years$3,797$2,621$1,767$1,168$761$244
34 years$3,645$2,484$1,651$1,075$689$211
35 years$3,502$2,356$1,543$989$624$183
36 years$3,367$2,236$1,444$911$565$159
37 years$3,240$2,124$1,351$840$512$138
38 years$3,120$2,018$1,266$774$464$120
39 years$3,006$1,919$1,186$714$421$104
40 years$2,898$1,826$1,111$658$382$90
41 years$2,796$1,738$1,042$607$347$79
42 years$2,699$1,655$977$560$314$68
43 years$2,607$1,577$917$517$285$59
44 years$2,519$1,503$861$478$259$51
45 years$2,435$1,434$808$441$235$45
46 years$2,355$1,368$759$407$214$39
47 years$2,279$1,305$713$376$194$34
48 years$2,206$1,246$670$348$176$29
49 years$2,137$1,190$630$321$160$25
50 years$2,070$1,137$592$297$145$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,120,000, adding $5,558 every year, while hoping to spend $31,345 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: 29/50/21 Blend
70$2,120,000$2,120,000$2,120,000$2,120,000
71$2,341,973$2,229,613$2,196,753$2,394,302
72$2,547,503$2,305,513$2,236,993$2,510,917
73$2,772,947$2,384,082$2,277,531$2,633,036
74$3,020,303$2,465,417$2,318,344$2,763,670
75$3,291,771$2,549,620$2,359,405$2,903,570
76$3,589,776$2,636,795$2,400,690$3,053,561
77$3,916,988$2,727,053$2,442,168$3,214,546
78$4,276,349$2,820,507$2,483,808$3,387,520
79$4,671,099$2,917,274$2,525,579$3,573,572
80$5,104,809$3,017,478$2,567,443$3,773,899
81$5,581,410$3,121,246$2,609,363$3,989,818
82$6,105,237$3,228,709$2,651,299$4,222,773
83$6,681,060$3,340,005$2,693,207$4,474,353
84$7,314,140$3,455,278$2,735,042$4,746,303
85$8,010,271$3,574,674$2,776,754$5,040,542
86$8,775,834$3,698,349$2,818,290$5,359,179
87$9,617,863$3,826,462$2,859,597$5,704,534
88$10,544,106$3,959,179$2,900,614$6,079,157
89$11,563,100$4,096,674$2,941,280$6,485,855
90$12,684,251$4,239,127$2,981,529$6,927,713
91$13,917,925$4,386,724$3,021,290$7,408,127
92$15,275,539$4,539,659$3,060,489$7,930,831
93$16,769,676$4,698,134$3,099,047$8,499,936
94$18,414,200$4,862,360$3,136,883$9,119,964
95$20,224,388$5,032,555$3,173,907$9,795,893
96$22,217,070$5,208,945$3,210,028$10,533,202
97$24,410,795$5,391,767$3,245,147$11,337,920
98$26,825,998$5,581,266$3,279,162$12,216,685
99$29,485,199$5,777,697$3,311,964$13,176,803
100$32,413,212$5,981,327$3,343,437$14,226,320