Can I retire at age 71 with 2,230,000?

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 $2,230,000?

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 years$184,151$182,511$180,911$179,349$177,823$174,162
2 years$91,164$89,466$87,821$86,225$84,678$81,005
3 years$60,172$58,467$56,826$55,245$53,723$50,155
4 years$44,679$42,980$41,355$39,801$38,316$34,879
5 years$35,386$33,696$32,093$30,571$29,127$25,831
6 years$29,193$27,516$25,936$24,448$23,047$19,896
7 years$24,771$23,108$21,553$20,100$18,744$15,737
8 years$21,455$19,808$18,278$16,861$15,550$12,688
9 years$18,878$17,246$15,743$14,362$13,095$10,376
10 years$16,818$15,202$13,725$12,380$11,158$8,578
11 years$15,133$13,533$12,084$10,775$9,596$7,153
12 years$13,730$12,147$10,724$9,451$8,316$6,005
13 years$12,544$10,977$9,581$8,344$7,251$5,070
14 years$11,528$9,978$8,609$7,407$6,357$4,300
15 years$10,649$9,115$7,772$6,605$5,597$3,660
16 years$9,880$8,363$7,047$5,914$4,946$3,126
17 years$9,202$7,702$6,412$5,314$4,386$2,676
18 years$8,600$7,117$5,854$4,789$3,900$2,297
19 years$8,062$6,596$5,359$4,327$3,476$1,974
20 years$7,579$6,129$4,918$3,919$3,105$1,700
21 years$7,142$5,709$4,524$3,557$2,778$1,466
22 years$6,746$5,329$4,169$3,234$2,490$1,265
23 years$6,384$4,984$3,850$2,945$2,236$1,093
24 years$6,053$4,670$3,560$2,686$2,009$946
25 years$5,749$4,382$3,297$2,453$1,808$818
26 years$5,469$4,119$3,058$2,243$1,629$709
27 years$5,210$3,876$2,840$2,053$1,468$614
28 years$4,970$3,653$2,640$1,881$1,325$532
29 years$4,747$3,446$2,457$1,725$1,196$462
30 years$4,539$3,254$2,288$1,583$1,081$401
31 years$4,345$3,076$2,133$1,454$977$348
32 years$4,164$2,911$1,990$1,336$884$302
33 years$3,994$2,757$1,858$1,229$800$262
34 years$3,834$2,613$1,736$1,131$724$228
35 years$3,683$2,478$1,623$1,041$656$198
36 years$3,542$2,352$1,519$959$594$172
37 years$3,408$2,234$1,421$883$539$149
38 years$3,282$2,123$1,331$814$488$130
39 years$3,162$2,019$1,247$751$443$113
40 years$3,049$1,921$1,169$692$402$98
41 years$2,941$1,828$1,096$639$365$85
42 years$2,839$1,741$1,028$589$331$74
43 years$2,742$1,659$965$544$300$64
44 years$2,650$1,581$906$502$272$56
45 years$2,561$1,508$850$464$247$49
46 years$2,477$1,439$799$429$225$42
47 years$2,397$1,373$750$396$204$37
48 years$2,321$1,311$705$366$185$32
49 years$2,247$1,252$663$338$168$28
50 years$2,177$1,195$623$313$153$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,230,000, adding $2,680 every year, while hoping to spend $30,302 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: 58/15/27 Blend
70$2,230,000$2,230,000$2,230,000$2,230,000
71$2,460,224$2,342,034$2,307,469$2,584,675
72$2,678,926$2,424,553$2,352,529$2,752,663
73$2,918,920$2,510,099$2,398,082$2,932,306
74$3,182,346$2,598,790$2,444,113$3,127,557
75$3,471,560$2,690,746$2,490,606$3,339,936
76$3,789,160$2,786,093$2,537,542$3,571,117
77$4,138,005$2,884,962$2,584,900$3,822,944
78$4,521,246$2,987,490$2,632,659$4,097,446
79$4,942,355$3,093,819$2,680,795$4,396,857
80$5,405,154$3,204,096$2,729,281$4,723,637
81$5,913,858$3,318,474$2,778,090$5,080,496
82$6,473,107$3,437,115$2,827,192$5,470,417
83$7,088,015$3,560,184$2,876,553$5,896,685
84$7,764,215$3,687,856$2,926,140$6,362,918
85$8,507,913$3,820,309$2,975,914$6,873,103
86$9,325,949$3,957,733$3,025,836$7,431,628
87$10,225,857$4,100,323$3,075,862$8,043,327
88$11,215,938$4,248,282$3,125,948$8,713,527
89$12,305,339$4,401,824$3,176,042$9,448,093
90$13,504,138$4,561,168$3,226,095$10,253,488
91$14,823,441$4,726,545$3,276,049$11,136,829
92$16,275,481$4,898,195$3,325,846$12,105,958
93$17,873,741$5,076,368$3,375,423$13,169,514
94$19,633,075$5,261,323$3,424,712$14,337,014
95$21,569,852$5,453,331$3,473,644$15,618,943
96$23,702,108$5,652,675$3,522,142$17,026,852
97$26,049,717$5,859,650$3,570,126$18,573,468
98$28,634,576$6,074,560$3,617,514$20,272,812
99$31,480,815$6,297,727$3,664,214$22,140,334
100$34,615,026$6,529,483$3,710,132$24,193,053