Can I retire at age 71 with 2,260,000?

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 $2,260,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$186,629$184,966$183,344$181,761$180,216$174,867
2 years$92,390$90,670$89,002$87,385$85,817$80,473
3 years$60,982$59,254$57,590$55,989$54,446$49,273
4 years$45,281$43,558$41,911$40,337$38,831$33,870
5 years$35,862$34,150$32,525$30,982$29,519$24,782
6 years$29,585$27,886$26,285$24,777$23,357$18,850
7 years$25,104$23,419$21,843$20,370$18,996$14,717
8 years$21,744$20,074$18,524$17,088$15,759$11,707
9 years$19,132$17,478$15,955$14,555$13,271$9,441
10 years$17,044$15,406$13,910$12,547$11,308$7,695
11 years$15,337$13,715$12,246$10,920$9,725$6,323
12 years$13,915$12,310$10,868$9,578$8,427$5,229
13 years$12,713$11,125$9,710$8,456$7,349$4,347
14 years$11,683$10,112$8,724$7,506$6,442$3,629
15 years$10,792$9,237$7,877$6,694$5,672$3,040
16 years$10,013$8,475$7,142$5,994$5,013$2,554
17 years$9,326$7,805$6,499$5,385$4,445$2,150
18 years$8,716$7,212$5,932$4,853$3,952$1,814
19 years$8,171$6,684$5,431$4,385$3,523$1,533
20 years$7,681$6,211$4,984$3,972$3,146$1,297
21 years$7,238$5,786$4,584$3,605$2,816$1,099
22 years$6,836$5,401$4,225$3,278$2,524$932
23 years$6,470$5,051$3,901$2,985$2,266$791
24 years$6,135$4,733$3,608$2,722$2,036$672
25 years$5,827$4,441$3,342$2,486$1,832$571
26 years$5,543$4,174$3,099$2,273$1,651$485
27 years$5,280$3,928$2,878$2,081$1,488$413
28 years$5,037$3,702$2,675$1,906$1,343$351
29 years$4,811$3,492$2,490$1,748$1,213$299
30 years$4,600$3,298$2,319$1,604$1,096$254
31 years$4,404$3,118$2,162$1,474$991$217
32 years$4,220$2,950$2,017$1,354$896$184
33 years$4,047$2,794$1,883$1,245$811$157
34 years$3,885$2,648$1,760$1,146$734$134
35 years$3,733$2,511$1,645$1,055$665$114
36 years$3,589$2,384$1,539$971$602$97
37 years$3,454$2,264$1,441$895$546$83
38 years$3,326$2,152$1,349$825$495$71
39 years$3,205$2,046$1,264$761$449$60
40 years$3,090$1,946$1,185$702$407$51
41 years$2,981$1,853$1,111$647$369$44
42 years$2,877$1,765$1,042$597$335$37
43 years$2,779$1,681$978$551$304$32
44 years$2,685$1,603$918$509$276$27
45 years$2,596$1,528$862$470$251$23
46 years$2,511$1,458$809$434$228$20
47 years$2,430$1,391$760$401$207$17
48 years$2,352$1,328$715$371$188$14
49 years$2,278$1,268$672$343$170$12
50 years$2,207$1,212$631$317$155$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,260,000, adding $5,885 every year, while hoping to spend $48,237 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$2,260,000$2,260,000$2,260,000$2,260,000
71$2,496,590$2,376,810$2,341,780$2,622,715
72$2,699,919$2,441,950$2,368,906$2,774,830
73$2,922,370$2,508,665$2,395,324$2,935,004
74$3,165,844$2,576,982$2,420,959$3,108,651
75$3,432,431$2,646,926$2,445,733$3,297,092
76$3,724,437$2,718,522$2,469,563$3,501,780
77$4,044,397$2,791,797$2,492,360$3,724,315
78$4,395,104$2,866,775$2,514,033$3,966,461
79$4,779,637$2,943,478$2,534,486$4,230,162
80$5,201,383$3,021,932$2,553,614$4,517,560
81$5,664,075$3,102,158$2,571,311$4,831,013
82$6,171,825$3,184,178$2,587,464$5,173,121
83$6,729,161$3,268,012$2,601,954$5,546,748
84$7,341,070$3,353,680$2,614,655$5,955,053
85$8,013,049$3,441,200$2,625,435$6,401,511
86$8,751,151$3,530,589$2,634,158$6,889,958
87$9,562,043$3,621,863$2,640,677$7,424,618
88$10,453,071$3,715,034$2,644,840$8,010,144
89$11,432,329$3,810,115$2,646,486$8,651,668
90$12,508,733$3,907,117$2,645,449$9,354,843
91$13,692,104$4,006,046$2,641,552$10,125,899
92$14,993,264$4,106,908$2,634,610$10,971,702
93$16,424,137$4,209,706$2,624,429$11,899,820
94$17,997,858$4,314,441$2,610,807$12,918,592
95$19,728,899$4,421,109$2,593,529$14,037,210
96$21,633,208$4,529,704$2,572,373$15,265,801
97$23,728,353$4,640,218$2,547,106$16,615,530
98$26,033,693$4,752,636$2,517,481$18,098,698
99$28,570,556$4,866,941$2,483,243$19,728,865
100$31,362,444$4,983,113$2,444,123$21,520,974