Can I retire at age 71 with 2,160,000?

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 $2,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$178,371$176,782$175,232$173,719$172,241$171,013
2 years$88,302$86,658$85,064$83,519$82,020$80,781
3 years$58,283$56,632$55,042$53,511$52,037$50,826
4 years$43,277$41,630$40,057$38,552$37,113$35,939
5 years$34,275$32,639$31,085$29,611$28,213$27,080
6 years$28,276$26,652$25,122$23,681$22,324$21,233
7 years$23,993$22,382$20,876$19,469$18,155$17,108
8 years$20,782$19,186$17,705$16,332$15,061$14,057
9 years$18,286$16,705$15,249$13,911$12,684$11,722
10 years$16,290$14,724$13,294$11,992$10,807$9,887
11 years$14,658$13,108$11,704$10,436$9,295$8,416
12 years$13,299$11,765$10,387$9,154$8,055$7,217
13 years$12,150$10,632$9,280$8,082$7,024$6,225
14 years$11,166$9,664$8,338$7,174$6,157$5,397
15 years$10,314$8,829$7,528$6,398$5,421$4,699
16 years$9,570$8,100$6,826$5,729$4,791$4,106
17 years$8,913$7,460$6,211$5,147$4,248$3,599
18 years$8,330$6,893$5,670$4,639$3,777$3,162
19 years$7,809$6,389$5,191$4,191$3,367$2,785
20 years$7,341$5,937$4,764$3,796$3,007$2,457
21 years$6,918$5,530$4,382$3,445$2,691$2,172
22 years$6,534$5,162$4,038$3,133$2,412$1,923
23 years$6,184$4,828$3,729$2,853$2,165$1,704
24 years$5,863$4,523$3,448$2,602$1,946$1,512
25 years$5,569$4,245$3,194$2,376$1,751$1,343
26 years$5,297$3,990$2,962$2,173$1,578$1,194
27 years$5,047$3,755$2,751$1,989$1,422$1,062
28 years$4,814$3,538$2,557$1,822$1,283$946
29 years$4,598$3,338$2,380$1,671$1,159$843
30 years$4,397$3,152$2,216$1,533$1,047$751
31 years$4,209$2,980$2,066$1,408$947$670
32 years$4,033$2,819$1,928$1,294$856$597
33 years$3,868$2,670$1,800$1,190$775$533
34 years$3,713$2,531$1,682$1,095$702$476
35 years$3,568$2,400$1,573$1,008$636$425
36 years$3,431$2,278$1,471$928$576$380
37 years$3,301$2,164$1,377$855$522$339
38 years$3,179$2,056$1,289$788$473$303
39 years$3,063$1,955$1,208$727$429$271
40 years$2,953$1,860$1,132$671$389$242
41 years$2,849$1,771$1,062$619$353$217
42 years$2,750$1,687$996$571$320$194
43 years$2,656$1,607$935$527$291$173
44 years$2,566$1,532$877$487$264$155
45 years$2,481$1,461$824$449$240$139
46 years$2,400$1,393$774$415$218$124
47 years$2,322$1,330$727$384$198$111
48 years$2,248$1,269$683$354$179$99
49 years$2,177$1,212$642$328$163$89
50 years$2,109$1,158$604$303$148$79

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,160,000, adding $6,616 every year, while hoping to spend $49,493 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: 68/8/24 Blend
70$2,160,000$2,160,000$2,160,000$2,160,000
71$2,387,144$2,272,664$2,239,184$2,534,405
72$2,577,973$2,331,365$2,261,537$2,692,712
73$2,786,607$2,391,283$2,282,979$2,859,536
74$3,014,811$2,452,426$2,303,429$3,040,885
75$3,264,527$2,514,799$2,322,799$3,238,195
76$3,537,893$2,578,409$2,340,997$3,453,045
77$3,837,265$2,643,258$2,357,927$3,687,176
78$4,165,236$2,709,347$2,373,488$3,942,507
79$4,524,661$2,776,676$2,387,571$4,221,152
80$4,918,687$2,845,244$2,400,065$4,525,441
81$5,350,778$2,915,046$2,410,852$4,857,938
82$5,824,749$2,986,075$2,419,807$5,221,473
83$6,344,803$3,058,322$2,426,800$5,619,163
84$6,915,569$3,131,776$2,431,695$6,054,440
85$7,542,147$3,206,423$2,434,346$6,531,091
86$8,230,153$3,282,245$2,434,604$7,053,284
87$8,985,776$3,359,222$2,432,310$7,625,616
88$9,815,830$3,437,329$2,427,298$8,253,152
89$10,727,825$3,516,539$2,419,393$8,941,473
90$11,730,034$3,596,819$2,408,413$9,696,730
91$12,831,568$3,678,135$2,394,166$10,525,702
92$14,042,469$3,760,444$2,376,451$11,435,859
93$15,373,798$3,843,703$2,355,059$12,435,435
94$16,837,740$3,927,859$2,329,768$13,533,503
95$18,447,723$4,012,857$2,300,349$14,740,062
96$20,218,539$4,098,635$2,266,558$16,066,133
97$22,166,486$4,185,125$2,228,144$17,523,861
98$24,309,521$4,272,250$2,184,841$19,126,630
99$26,667,431$4,359,929$2,136,373$20,889,191
100$29,262,016$4,448,072$2,082,448$22,827,802