Can I retire at age 71 with 2,140,000?

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 $2,140,000?

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 years$176,719$175,145$173,609$172,110$170,647$168,514
2 years$87,485$85,855$84,276$82,745$81,260$79,115
3 years$57,744$56,107$54,532$53,016$51,555$49,463
4 years$42,876$41,245$39,686$38,195$36,769$34,747
5 years$33,958$32,337$30,798$29,337$27,951$26,004
6 years$28,015$26,405$24,889$23,461$22,117$20,248
7 years$23,771$22,175$20,683$19,289$17,987$16,196
8 years$20,590$19,008$17,541$16,181$14,922$13,209
9 years$18,116$16,550$15,108$13,783$12,567$10,931
10 years$16,139$14,588$13,171$11,881$10,707$9,149
11 years$14,522$12,987$11,596$10,340$9,209$7,725
12 years$13,176$11,656$10,291$9,069$7,980$6,570
13 years$12,038$10,534$9,194$8,007$6,959$5,620
14 years$11,063$9,575$8,261$7,108$6,100$4,831
15 years$10,219$8,747$7,459$6,339$5,371$4,169
16 years$9,481$8,025$6,762$5,676$4,747$3,611
17 years$8,831$7,391$6,154$5,100$4,209$3,136
18 years$8,253$6,829$5,617$4,596$3,742$2,730
19 years$7,737$6,330$5,142$4,153$3,336$2,382
20 years$7,273$5,882$4,719$3,761$2,979$2,082
21 years$6,854$5,479$4,341$3,413$2,666$1,822
22 years$6,473$5,114$4,001$3,104$2,390$1,597
23 years$6,127$4,783$3,694$2,826$2,145$1,402
24 years$5,809$4,481$3,416$2,578$1,928$1,232
25 years$5,517$4,206$3,164$2,354$1,735$1,083
26 years$5,248$3,953$2,935$2,153$1,563$953
27 years$5,000$3,720$2,725$1,970$1,409$839
28 years$4,770$3,505$2,533$1,805$1,271$739
29 years$4,556$3,307$2,358$1,655$1,148$652
30 years$4,356$3,123$2,196$1,519$1,037$575
31 years$4,170$2,952$2,047$1,395$938$507
32 years$3,996$2,793$1,910$1,282$848$448
33 years$3,832$2,645$1,783$1,179$768$395
34 years$3,679$2,507$1,666$1,085$695$349
35 years$3,535$2,378$1,558$999$630$308
36 years$3,399$2,257$1,457$920$570$272
37 years$3,271$2,144$1,364$848$517$241
38 years$3,149$2,037$1,277$781$469$213
39 years$3,034$1,937$1,197$720$425$188
40 years$2,926$1,843$1,122$664$386$166
41 years$2,823$1,754$1,052$613$350$147
42 years$2,725$1,671$987$566$317$130
43 years$2,631$1,592$926$522$288$115
44 years$2,543$1,518$869$482$261$102
45 years$2,458$1,447$816$445$237$90
46 years$2,377$1,381$766$411$216$80
47 years$2,301$1,317$720$380$196$70
48 years$2,227$1,258$677$351$178$62
49 years$2,157$1,201$636$325$161$55
50 years$2,089$1,147$598$300$147$49

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,140,000, adding $2,075 every year, while hoping to spend $42,614 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: 61/25/14 Blend
70$2,140,000$2,140,000$2,140,000$2,140,000
71$2,360,420$2,247,000$2,213,830$2,496,147
72$2,555,842$2,311,762$2,242,653$2,652,427
73$2,769,769$2,378,270$2,271,012$2,817,890
74$3,004,043$2,446,562$2,298,849$2,997,428
75$3,260,693$2,516,682$2,326,098$3,192,405
76$3,541,954$2,588,670$2,352,693$3,404,326
77$3,850,287$2,662,568$2,378,562$3,634,844
78$4,188,402$2,738,420$2,403,629$3,885,783
79$4,559,285$2,816,267$2,427,816$4,159,149
80$4,966,223$2,896,155$2,451,039$4,457,152
81$5,412,838$2,978,127$2,473,209$4,782,225
82$5,903,120$3,062,228$2,494,234$5,137,049
83$6,441,462$3,148,502$2,514,015$5,524,576
84$7,032,707$3,236,994$2,532,451$5,948,056
85$7,682,187$3,327,751$2,549,431$6,411,071
86$8,395,776$3,420,817$2,564,844$6,917,566
87$9,179,947$3,516,238$2,578,567$7,471,885
88$10,041,829$3,614,061$2,590,476$8,078,817
89$10,989,276$3,714,331$2,600,438$8,743,633
90$12,030,944$3,817,094$2,608,314$9,472,144
91$13,176,365$3,922,397$2,613,958$10,270,749
92$14,436,045$4,030,285$2,617,217$11,146,500
93$15,821,557$4,140,804$2,617,928$12,107,165
94$17,345,651$4,253,999$2,615,924$13,161,304
95$19,022,378$4,369,915$2,611,028$14,318,347
96$20,867,215$4,488,596$2,603,052$15,588,685
97$22,897,220$4,610,086$2,591,803$16,983,766
98$25,131,184$4,734,428$2,577,076$18,516,204
99$27,589,813$4,861,663$2,558,657$20,199,900
100$30,295,923$4,991,834$2,536,321$22,050,167