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

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 $2,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$184,151$182,511$180,911$179,349$177,823$172,269
2 years$91,164$89,466$87,821$86,225$84,678$79,131
3 years$60,172$58,467$56,826$55,245$53,723$48,359
4 years$44,679$42,980$41,355$39,801$38,316$33,174
5 years$35,386$33,696$32,093$30,571$29,127$24,222
6 years$29,193$27,516$25,936$24,448$23,047$18,384
7 years$24,771$23,108$21,553$20,100$18,744$14,321
8 years$21,455$19,808$18,278$16,861$15,550$11,364
9 years$18,878$17,246$15,743$14,362$13,095$9,143
10 years$16,818$15,202$13,725$12,380$11,158$7,433
11 years$15,133$13,533$12,084$10,775$9,596$6,092
12 years$13,730$12,147$10,724$9,451$8,316$5,025
13 years$12,544$10,977$9,581$8,344$7,251$4,166
14 years$11,528$9,978$8,609$7,407$6,357$3,468
15 years$10,649$9,115$7,772$6,605$5,597$2,897
16 years$9,880$8,363$7,047$5,914$4,946$2,427
17 years$9,202$7,702$6,412$5,314$4,386$2,037
18 years$8,600$7,117$5,854$4,789$3,900$1,714
19 years$8,062$6,596$5,359$4,327$3,476$1,444
20 years$7,579$6,129$4,918$3,919$3,105$1,218
21 years$7,142$5,709$4,524$3,557$2,778$1,029
22 years$6,746$5,329$4,169$3,234$2,490$870
23 years$6,384$4,984$3,850$2,945$2,236$736
24 years$6,053$4,670$3,560$2,686$2,009$623
25 years$5,749$4,382$3,297$2,453$1,808$527
26 years$5,469$4,119$3,058$2,243$1,629$447
27 years$5,210$3,876$2,840$2,053$1,468$379
28 years$4,970$3,653$2,640$1,881$1,325$321
29 years$4,747$3,446$2,457$1,725$1,196$273
30 years$4,539$3,254$2,288$1,583$1,081$231
31 years$4,345$3,076$2,133$1,454$977$196
32 years$4,164$2,911$1,990$1,336$884$167
33 years$3,994$2,757$1,858$1,229$800$141
34 years$3,834$2,613$1,736$1,131$724$120
35 years$3,683$2,478$1,623$1,041$656$102
36 years$3,542$2,352$1,519$959$594$87
37 years$3,408$2,234$1,421$883$539$74
38 years$3,282$2,123$1,331$814$488$62
39 years$3,162$2,019$1,247$751$443$53
40 years$3,049$1,921$1,169$692$402$45
41 years$2,941$1,828$1,096$639$365$38
42 years$2,839$1,741$1,028$589$331$33
43 years$2,742$1,659$965$544$300$28
44 years$2,650$1,581$906$502$272$23
45 years$2,561$1,508$850$464$247$20
46 years$2,477$1,439$799$429$225$17
47 years$2,397$1,373$750$396$204$14
48 years$2,321$1,311$705$366$185$12
49 years$2,247$1,252$663$338$168$10
50 years$2,177$1,195$623$313$153$9

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 $2,613 every year, while hoping to spend $54,698 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: 43/39/18 Blend
70$2,230,000$2,230,000$2,230,000$2,230,000
71$2,460,155$2,341,965$2,307,400$2,552,950
72$2,652,893$2,398,523$2,326,500$2,675,174
73$2,863,456$2,456,020$2,344,406$2,801,932
74$3,093,607$2,514,442$2,361,021$2,938,113
75$3,345,281$2,573,777$2,376,243$3,084,612
76$3,620,615$2,634,007$2,389,962$3,242,414
77$3,921,957$2,695,113$2,402,065$3,412,602
78$4,251,896$2,757,072$2,412,433$3,596,371
79$4,613,280$2,819,859$2,420,940$3,795,038
80$5,009,247$2,883,445$2,427,454$4,010,054
81$5,443,254$2,947,797$2,431,838$4,243,017
82$5,919,106$3,012,879$2,433,944$4,495,689
83$6,440,995$3,078,650$2,433,621$4,770,011
84$7,013,537$3,145,066$2,430,709$5,068,124
85$7,641,820$3,212,075$2,425,039$5,392,385
86$8,331,444$3,279,625$2,416,436$5,745,394
87$9,088,579$3,347,655$2,404,715$6,130,017
88$9,920,023$3,416,099$2,389,682$6,549,410
89$10,833,263$3,484,885$2,371,134$7,007,057
90$11,836,547$3,553,937$2,348,858$7,506,793
91$12,938,963$3,623,167$2,322,633$8,052,850
92$14,150,521$3,692,486$2,292,225$8,649,888
93$15,482,248$3,761,792$2,257,389$9,303,049
94$16,946,296$3,830,978$2,217,869$10,017,998
95$18,556,049$3,899,927$2,173,399$10,800,981
96$20,326,256$3,968,514$2,123,698$11,658,883
97$22,273,165$4,036,602$2,068,473$12,599,294
98$24,414,678$4,104,046$2,007,417$13,630,580
99$26,770,520$4,170,688$1,940,210$14,761,963
100$29,362,422$4,236,361$1,866,516$16,003,612