Can I retire at age 71 with 2,190,000?

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 $2,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$180,848$179,237$177,666$176,132$174,634$170,205
2 years$89,529$87,861$86,245$84,679$83,159$78,726
3 years$59,093$57,418$55,807$54,254$52,759$48,460
4 years$43,878$42,209$40,613$39,087$37,628$33,497
5 years$34,751$33,092$31,517$30,023$28,605$24,652
6 years$28,669$27,022$25,471$24,009$22,634$18,864
7 years$24,326$22,693$21,166$19,739$18,407$14,820
8 years$21,071$19,452$17,951$16,559$15,271$11,865
9 years$18,540$16,937$15,461$14,105$12,860$9,633
10 years$16,516$14,929$13,479$12,158$10,957$7,905
11 years$14,862$13,290$11,867$10,581$9,424$6,541
12 years$13,484$11,929$10,531$9,281$8,166$5,449
13 years$12,319$10,780$9,409$8,194$7,121$4,564
14 years$11,321$9,799$8,454$7,274$6,242$3,839
15 years$10,458$8,951$7,633$6,487$5,496$3,241
16 years$9,703$8,213$6,920$5,808$4,858$2,744
17 years$9,037$7,564$6,297$5,219$4,307$2,329
18 years$8,446$6,989$5,749$4,703$3,830$1,981
19 years$7,918$6,477$5,263$4,250$3,414$1,688
20 years$7,443$6,019$4,830$3,849$3,049$1,440
21 years$7,014$5,607$4,442$3,493$2,729$1,231
22 years$6,625$5,234$4,094$3,176$2,446$1,052
23 years$6,270$4,895$3,780$2,892$2,195$901
24 years$5,945$4,586$3,496$2,638$1,973$772
25 years$5,646$4,304$3,238$2,409$1,776$662
26 years$5,371$4,045$3,003$2,203$1,599$568
27 years$5,117$3,807$2,789$2,016$1,442$487
28 years$4,881$3,587$2,593$1,847$1,301$418
29 years$4,662$3,384$2,413$1,694$1,175$359
30 years$4,458$3,196$2,247$1,555$1,062$308
31 years$4,267$3,021$2,095$1,428$960$265
32 years$4,089$2,859$1,955$1,312$868$228
33 years$3,922$2,707$1,825$1,207$786$196
34 years$3,765$2,566$1,705$1,110$711$168
35 years$3,617$2,434$1,594$1,022$644$145
36 years$3,478$2,310$1,491$941$584$124
37 years$3,347$2,194$1,396$867$529$107
38 years$3,223$2,085$1,307$799$480$92
39 years$3,105$1,983$1,225$737$435$79
40 years$2,994$1,886$1,148$680$395$68
41 years$2,888$1,795$1,076$627$358$59
42 years$2,788$1,710$1,010$579$325$50
43 years$2,693$1,629$948$534$295$43
44 years$2,602$1,553$889$493$268$37
45 years$2,516$1,481$835$456$243$32
46 years$2,433$1,413$784$421$221$28
47 years$2,354$1,348$737$389$200$24
48 years$2,279$1,287$692$359$182$20
49 years$2,207$1,229$651$332$165$18
50 years$2,138$1,174$612$307$150$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,190,000, adding $5,785 every year, while hoping to spend $23,671 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: 53/28/19 Blend
70$2,190,000$2,190,000$2,190,000$2,190,000
71$2,419,347$2,303,277$2,269,332$2,534,738
72$2,640,935$2,390,952$2,320,169$2,702,202
73$2,884,331$2,482,130$2,371,916$2,881,361
74$3,151,735$2,576,956$2,424,577$3,075,795
75$3,445,571$2,675,586$2,478,159$3,286,966
76$3,768,507$2,778,177$2,532,665$3,516,481
77$4,123,484$2,884,897$2,588,099$3,766,107
78$4,513,743$2,995,921$2,644,464$4,037,788
79$4,942,852$3,111,428$2,701,761$4,333,662
80$5,414,745$3,231,610$2,759,991$4,656,083
81$5,933,754$3,356,664$2,819,156$5,007,640
82$6,504,653$3,486,797$2,879,254$5,391,181
83$7,132,702$3,622,224$2,940,284$5,809,841
84$7,823,696$3,763,172$3,002,242$6,267,071
85$8,584,020$3,909,875$3,065,124$6,766,669
86$9,420,711$4,062,579$3,128,926$7,312,815
87$10,341,519$4,221,541$3,193,641$7,910,111
88$11,354,986$4,387,028$3,259,260$8,563,623
89$12,470,523$4,559,322$3,325,774$9,278,927
90$13,698,502$4,738,713$3,393,172$10,062,166
91$15,050,347$4,925,509$3,461,442$10,920,099
92$16,538,651$5,120,027$3,530,569$11,860,171
93$18,177,287$5,322,602$3,600,536$12,890,582
94$19,981,541$5,533,581$3,671,325$14,020,357
95$21,968,260$5,753,328$3,742,917$15,259,438
96$24,156,006$5,982,224$3,815,287$16,618,775
97$26,565,231$6,220,665$3,888,412$18,110,426
98$29,218,475$6,469,068$3,962,264$19,747,670
99$32,140,573$6,727,866$4,036,813$21,545,135
100$35,358,891$6,997,511$4,112,027$23,518,931