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

Use the below retirement simulation to view the chances of a successful retirement.
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%18.4%
1 years$176,719$175,145$173,609$172,110$170,647$164,854
2 years$87,485$85,855$84,276$82,745$81,260$75,483
3 years$57,744$56,107$54,532$53,016$51,555$45,974
4 years$42,876$41,245$39,686$38,195$36,769$31,427
5 years$33,958$32,337$30,798$29,337$27,951$22,862
6 years$28,015$26,405$24,889$23,461$22,117$17,285
7 years$23,771$22,175$20,683$19,289$17,987$13,411
8 years$20,590$19,008$17,541$16,181$14,922$10,599
9 years$18,116$16,550$15,108$13,783$12,567$8,490
10 years$16,139$14,588$13,171$11,881$10,707$6,872
11 years$14,522$12,987$11,596$10,340$9,209$5,607
12 years$13,176$11,656$10,291$9,069$7,980$4,603
13 years$12,038$10,534$9,194$8,007$6,959$3,798
14 years$11,063$9,575$8,261$7,108$6,100$3,147
15 years$10,219$8,747$7,459$6,339$5,371$2,616
16 years$9,481$8,025$6,762$5,676$4,747$2,180
17 years$8,831$7,391$6,154$5,100$4,209$1,821
18 years$8,253$6,829$5,617$4,596$3,742$1,524
19 years$7,737$6,330$5,142$4,153$3,336$1,277
20 years$7,273$5,882$4,719$3,761$2,979$1,071
21 years$6,854$5,479$4,341$3,413$2,666$900
22 years$6,473$5,114$4,001$3,104$2,390$757
23 years$6,127$4,783$3,694$2,826$2,145$637
24 years$5,809$4,481$3,416$2,578$1,928$536
25 years$5,517$4,206$3,164$2,354$1,735$451
26 years$5,248$3,953$2,935$2,153$1,563$380
27 years$5,000$3,720$2,725$1,970$1,409$321
28 years$4,770$3,505$2,533$1,805$1,271$270
29 years$4,556$3,307$2,358$1,655$1,148$228
30 years$4,356$3,123$2,196$1,519$1,037$192
31 years$4,170$2,952$2,047$1,395$938$162
32 years$3,996$2,793$1,910$1,282$848$137
33 years$3,832$2,645$1,783$1,179$768$116
34 years$3,679$2,507$1,666$1,085$695$98
35 years$3,535$2,378$1,558$999$630$82
36 years$3,399$2,257$1,457$920$570$70
37 years$3,271$2,144$1,364$848$517$59
38 years$3,149$2,037$1,277$781$469$50
39 years$3,034$1,937$1,197$720$425$42
40 years$2,926$1,843$1,122$664$386$35
41 years$2,823$1,754$1,052$613$350$30
42 years$2,725$1,671$987$566$317$25
43 years$2,631$1,592$926$522$288$21
44 years$2,543$1,518$869$482$261$18
45 years$2,458$1,447$816$445$237$15
46 years$2,377$1,381$766$411$216$13
47 years$2,301$1,317$720$380$196$11
48 years$2,227$1,258$677$351$178$9
49 years$2,157$1,201$636$325$161$8
50 years$2,089$1,147$598$300$147$7

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 $4,331 every year, while hoping to spend $25,112 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: 47/41/12 Blend
70$2,140,000$2,140,000$2,140,000$2,140,000
71$2,362,747$2,249,327$2,216,157$2,465,701
72$2,577,029$2,332,825$2,263,680$2,620,738
73$2,812,325$2,419,573$2,311,952$2,785,964
74$3,070,753$2,509,704$2,360,974$2,964,721
75$3,354,646$2,603,355$2,410,742$3,158,275
76$3,666,572$2,700,671$2,461,254$3,368,020
77$4,009,361$2,801,803$2,512,505$3,595,485
78$4,386,133$2,906,908$2,564,491$3,842,353
79$4,800,321$3,016,149$2,617,204$4,110,471
80$5,255,710$3,129,697$2,670,637$4,401,874
81$5,756,471$3,247,731$2,724,781$4,718,795
82$6,307,196$3,370,435$2,779,627$5,063,694
83$6,912,948$3,498,004$2,835,163$5,439,274
84$7,579,303$3,630,640$2,891,375$5,848,508
85$8,312,405$3,768,555$2,948,248$6,294,668
86$9,119,024$3,911,967$3,005,768$6,781,352
87$10,006,618$4,061,108$3,063,915$7,312,522
88$10,983,407$4,216,216$3,122,670$7,892,534
89$12,058,446$4,377,542$3,182,011$8,526,183
90$13,241,713$4,545,347$3,241,914$9,218,747
91$14,544,202$4,719,903$3,302,353$9,976,035
92$15,978,028$4,901,496$3,363,299$10,804,440
93$17,556,539$5,090,422$3,424,722$11,711,000
94$19,294,444$5,286,990$3,486,588$12,703,462
95$21,207,951$5,491,526$3,548,862$13,790,355
96$23,314,917$5,704,366$3,611,504$14,981,070
97$25,635,022$5,925,864$3,674,473$16,285,946
98$28,189,950$6,156,387$3,737,724$17,716,368
99$31,003,596$6,396,321$3,801,209$19,284,870
100$34,102,290$6,646,067$3,864,876$21,005,257