Can I retire at age 71 with 2,300,000?

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 $2,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$189,932$188,240$186,589$184,978$183,405$179,263
2 years$94,026$92,275$90,577$88,932$87,336$83,185
3 years$62,061$60,302$58,610$56,980$55,409$51,379
4 years$46,082$44,329$42,653$41,051$39,518$35,640
5 years$36,497$34,754$33,100$31,531$30,041$26,326
6 years$30,109$28,379$26,750$25,215$23,771$20,222
7 years$25,548$23,833$22,229$20,731$19,332$15,950
8 years$22,129$20,429$18,852$17,391$16,038$12,822
9 years$19,471$17,787$16,237$14,813$13,506$10,454
10 years$17,346$15,679$14,156$12,769$11,508$8,616
11 years$15,608$13,958$12,463$11,113$9,897$7,162
12 years$14,161$12,528$11,060$9,747$8,577$5,993
13 years$12,938$11,321$9,882$8,606$7,479$5,043
14 years$11,890$10,291$8,879$7,639$6,556$4,262
15 years$10,983$9,401$8,016$6,813$5,772$3,616
16 years$10,190$8,625$7,268$6,100$5,102$3,077
17 years$9,491$7,943$6,614$5,481$4,524$2,625
18 years$8,870$7,340$6,037$4,939$4,022$2,244
19 years$8,316$6,803$5,527$4,463$3,585$1,922
20 years$7,817$6,321$5,072$4,042$3,202$1,649
21 years$7,366$5,888$4,666$3,669$2,866$1,416
22 years$6,957$5,496$4,300$3,336$2,569$1,218
23 years$6,585$5,141$3,970$3,038$2,306$1,048
24 years$6,243$4,816$3,672$2,771$2,072$903
25 years$5,930$4,520$3,401$2,530$1,865$779
26 years$5,641$4,248$3,154$2,314$1,680$672
27 years$5,374$3,998$2,929$2,118$1,514$580
28 years$5,126$3,767$2,723$1,940$1,367$500
29 years$4,896$3,554$2,534$1,779$1,234$432
30 years$4,682$3,356$2,360$1,633$1,115$373
31 years$4,482$3,173$2,200$1,500$1,008$323
32 years$4,294$3,002$2,053$1,378$912$279
33 years$4,119$2,843$1,917$1,267$825$241
34 years$3,954$2,695$1,791$1,166$747$209
35 years$3,799$2,556$1,674$1,073$677$180
36 years$3,653$2,426$1,566$989$613$156
37 years$3,515$2,304$1,466$911$556$135
38 years$3,385$2,190$1,373$840$504$117
39 years$3,261$2,082$1,286$774$457$101
40 years$3,144$1,981$1,206$714$414$87
41 years$3,034$1,886$1,131$659$376$76
42 years$2,928$1,796$1,060$608$341$66
43 years$2,828$1,711$995$561$310$57
44 years$2,733$1,631$934$518$281$49
45 years$2,642$1,555$877$479$255$42
46 years$2,555$1,484$824$442$232$37
47 years$2,473$1,416$774$408$210$32
48 years$2,393$1,352$727$377$191$28
49 years$2,318$1,291$684$349$173$24
50 years$2,246$1,233$643$322$158$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,300,000, adding $6,951 every year, while hoping to spend $49,442 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: 43/34/23 Blend
70$2,300,000$2,300,000$2,300,000$2,300,000
71$2,541,770$2,419,870$2,384,220$2,633,766
72$2,748,425$2,485,838$2,411,485$2,765,779
73$2,974,501$2,553,381$2,438,007$2,903,414
74$3,221,928$2,622,524$2,463,708$3,051,547
75$3,492,829$2,693,292$2,488,507$3,211,171
76$3,789,543$2,765,710$2,512,318$3,383,385
77$4,114,647$2,839,799$2,535,051$3,569,395
78$4,470,976$2,915,585$2,556,610$3,770,531
79$4,861,654$2,993,087$2,576,895$3,988,258
80$5,290,123$3,072,328$2,595,801$4,224,189
81$5,760,172$3,153,329$2,613,217$4,480,101
82$6,275,975$3,236,108$2,629,025$4,757,950
83$6,842,131$3,320,683$2,643,104$5,059,894
84$7,463,703$3,407,072$2,655,323$5,388,307
85$8,146,272$3,495,289$2,665,547$5,745,808
86$8,895,983$3,585,350$2,673,634$6,135,278
87$9,719,606$3,677,265$2,679,434$6,559,896
88$10,624,600$3,771,045$2,682,789$7,023,161
89$11,619,182$3,866,699$2,683,535$7,528,933
90$12,712,404$3,964,232$2,681,499$8,081,461
91$13,914,238$4,063,649$2,676,498$8,685,428
92$15,235,672$4,164,949$2,668,343$9,345,998
93$16,688,811$4,268,132$2,656,833$10,068,859
94$18,286,992$4,373,193$2,641,759$10,860,277
95$20,044,910$4,480,124$2,622,902$11,727,163
96$21,978,752$4,588,912$2,600,031$12,677,128
97$24,106,359$4,699,542$2,572,906$13,718,564
98$26,447,384$4,811,996$2,541,274$14,860,716
99$29,023,481$4,926,248$2,504,871$16,113,774
100$31,858,512$5,042,270$2,463,420$17,488,971