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%12.8%
1 years$184,151$182,511$180,911$179,349$177,823$175,747
2 years$91,164$89,466$87,821$86,225$84,678$82,588
3 years$60,172$58,467$56,826$55,245$53,723$51,684
4 years$44,679$42,980$41,355$39,801$38,316$36,344
5 years$35,386$33,696$32,093$30,571$29,127$27,228
6 years$29,193$27,516$25,936$24,448$23,047$21,223
7 years$24,771$23,108$21,553$20,100$18,744$16,996
8 years$21,455$19,808$18,278$16,861$15,550$13,877
9 years$18,878$17,246$15,743$14,362$13,095$11,498
10 years$16,818$15,202$13,725$12,380$11,158$9,634
11 years$15,133$13,533$12,084$10,775$9,596$8,145
12 years$13,730$12,147$10,724$9,451$8,316$6,936
13 years$12,544$10,977$9,581$8,344$7,251$5,941
14 years$11,528$9,978$8,609$7,407$6,357$5,114
15 years$10,649$9,115$7,772$6,605$5,597$4,419
16 years$9,880$8,363$7,047$5,914$4,946$3,832
17 years$9,202$7,702$6,412$5,314$4,386$3,333
18 years$8,600$7,117$5,854$4,789$3,900$2,906
19 years$8,062$6,596$5,359$4,327$3,476$2,539
20 years$7,579$6,129$4,918$3,919$3,105$2,222
21 years$7,142$5,709$4,524$3,557$2,778$1,948
22 years$6,746$5,329$4,169$3,234$2,490$1,711
23 years$6,384$4,984$3,850$2,945$2,236$1,503
24 years$6,053$4,670$3,560$2,686$2,009$1,323
25 years$5,749$4,382$3,297$2,453$1,808$1,165
26 years$5,469$4,119$3,058$2,243$1,629$1,027
27 years$5,210$3,876$2,840$2,053$1,468$906
28 years$4,970$3,653$2,640$1,881$1,325$799
29 years$4,747$3,446$2,457$1,725$1,196$706
30 years$4,539$3,254$2,288$1,583$1,081$623
31 years$4,345$3,076$2,133$1,454$977$551
32 years$4,164$2,911$1,990$1,336$884$487
33 years$3,994$2,757$1,858$1,229$800$431
34 years$3,834$2,613$1,736$1,131$724$381
35 years$3,683$2,478$1,623$1,041$656$337
36 years$3,542$2,352$1,519$959$594$298
37 years$3,408$2,234$1,421$883$539$264
38 years$3,282$2,123$1,331$814$488$234
39 years$3,162$2,019$1,247$751$443$207
40 years$3,049$1,921$1,169$692$402$183
41 years$2,941$1,828$1,096$639$365$162
42 years$2,839$1,741$1,028$589$331$144
43 years$2,742$1,659$965$544$300$127
44 years$2,650$1,581$906$502$272$113
45 years$2,561$1,508$850$464$247$100
46 years$2,477$1,439$799$429$225$89
47 years$2,397$1,373$750$396$204$79
48 years$2,321$1,311$705$366$185$70
49 years$2,247$1,252$663$338$168$62
50 years$2,177$1,195$623$313$153$55

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 $6,389 every year, while hoping to spend $32,714 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: 66/27/7 Blend
70$2,230,000$2,230,000$2,230,000$2,230,000
71$2,464,050$2,345,860$2,311,295$2,623,235
72$2,680,576$2,426,000$2,353,916$2,809,932
73$2,918,091$2,508,970$2,396,869$3,009,379
74$3,178,701$2,594,875$2,440,129$3,226,480
75$3,464,727$2,683,822$2,483,672$3,462,952
76$3,778,725$2,775,925$2,527,470$3,720,683
77$4,123,509$2,871,299$2,571,494$4,001,752
78$4,502,180$2,970,066$2,615,713$4,308,447
79$4,918,155$3,072,352$2,660,092$4,643,284
80$5,375,198$3,178,288$2,704,596$5,009,037
81$5,877,453$3,288,010$2,749,185$5,408,757
82$6,429,490$3,401,658$2,793,819$5,845,801
83$7,036,339$3,519,380$2,838,453$6,323,870
84$7,703,544$3,641,329$2,883,039$6,847,035
85$8,437,213$3,767,662$2,927,529$7,419,779
86$9,244,076$3,898,544$2,971,868$8,047,040
87$10,131,546$4,034,147$3,016,000$8,734,254
88$11,107,792$4,174,649$3,059,865$9,487,410
89$12,181,814$4,320,234$3,103,398$10,313,101
90$13,363,529$4,471,096$3,146,532$11,218,589
91$14,663,863$4,627,433$3,189,194$12,211,872
92$16,094,854$4,789,455$3,231,309$13,301,761
93$17,669,768$4,957,376$3,272,797$14,497,958
94$19,403,220$5,131,423$3,313,571$15,811,152
95$21,311,315$5,311,829$3,353,542$17,253,115
96$23,411,797$5,498,838$3,392,614$18,836,817
97$25,724,221$5,692,701$3,430,688$20,576,543
98$28,270,132$5,893,684$3,467,656$22,488,031
99$31,073,270$6,102,059$3,503,406$24,588,617
100$34,159,794$6,318,110$3,537,821$26,897,400