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%14.4%
1 years$189,932$188,240$186,589$184,978$183,405$180,071
2 years$94,026$92,275$90,577$88,932$87,336$83,988
3 years$62,061$60,302$58,610$56,980$55,409$52,153
4 years$46,082$44,329$42,653$41,051$39,518$36,378
5 years$36,497$34,754$33,100$31,531$30,041$27,027
6 years$30,109$28,379$26,750$25,215$23,771$20,885
7 years$25,548$23,833$22,229$20,731$19,332$16,575
8 years$22,129$20,429$18,852$17,391$16,038$13,410
9 years$19,471$17,787$16,237$14,813$13,506$11,006
10 years$17,346$15,679$14,156$12,769$11,508$9,132
11 years$15,608$13,958$12,463$11,113$9,897$7,644
12 years$14,161$12,528$11,060$9,747$8,577$6,443
13 years$12,938$11,321$9,882$8,606$7,479$5,461
14 years$11,890$10,291$8,879$7,639$6,556$4,650
15 years$10,983$9,401$8,016$6,813$5,772$3,975
16 years$10,190$8,625$7,268$6,100$5,102$3,409
17 years$9,491$7,943$6,614$5,481$4,524$2,931
18 years$8,870$7,340$6,037$4,939$4,022$2,526
19 years$8,316$6,803$5,527$4,463$3,585$2,182
20 years$7,817$6,321$5,072$4,042$3,202$1,887
21 years$7,366$5,888$4,666$3,669$2,866$1,635
22 years$6,957$5,496$4,300$3,336$2,569$1,418
23 years$6,585$5,141$3,970$3,038$2,306$1,231
24 years$6,243$4,816$3,672$2,771$2,072$1,069
25 years$5,930$4,520$3,401$2,530$1,865$930
26 years$5,641$4,248$3,154$2,314$1,680$809
27 years$5,374$3,998$2,929$2,118$1,514$705
28 years$5,126$3,767$2,723$1,940$1,367$614
29 years$4,896$3,554$2,534$1,779$1,234$535
30 years$4,682$3,356$2,360$1,633$1,115$466
31 years$4,482$3,173$2,200$1,500$1,008$407
32 years$4,294$3,002$2,053$1,378$912$355
33 years$4,119$2,843$1,917$1,267$825$310
34 years$3,954$2,695$1,791$1,166$747$270
35 years$3,799$2,556$1,674$1,073$677$236
36 years$3,653$2,426$1,566$989$613$206
37 years$3,515$2,304$1,466$911$556$180
38 years$3,385$2,190$1,373$840$504$157
39 years$3,261$2,082$1,286$774$457$137
40 years$3,144$1,981$1,206$714$414$120
41 years$3,034$1,886$1,131$659$376$105
42 years$2,928$1,796$1,060$608$341$92
43 years$2,828$1,711$995$561$310$80
44 years$2,733$1,631$934$518$281$70
45 years$2,642$1,555$877$479$255$61
46 years$2,555$1,484$824$442$232$53
47 years$2,473$1,416$774$408$210$47
48 years$2,393$1,352$727$377$191$41
49 years$2,318$1,291$684$349$173$36
50 years$2,246$1,233$643$322$158$31

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 $4,891 every year, while hoping to spend $40,577 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: 57/37/6 Blend
70$2,300,000$2,300,000$2,300,000$2,300,000
71$2,539,645$2,417,745$2,382,095$2,680,971
72$2,755,515$2,493,041$2,418,722$2,851,838
73$2,992,044$2,570,666$2,455,215$3,032,909
74$3,251,296$2,650,693$2,491,529$3,229,178
75$3,535,545$2,733,193$2,527,611$3,442,098
76$3,847,295$2,818,244$2,563,410$3,673,268
77$4,189,303$2,905,922$2,598,869$3,924,447
78$4,564,609$2,996,309$2,633,928$4,197,571
79$4,976,557$3,089,486$2,668,522$4,494,771
80$5,428,834$3,185,539$2,702,586$4,818,390
81$5,925,501$3,284,556$2,736,049$5,171,009
82$6,471,030$3,386,627$2,768,834$5,555,468
83$7,070,348$3,491,845$2,800,863$5,974,894
84$7,728,884$3,600,306$2,832,052$6,432,727
85$8,452,617$3,712,108$2,862,313$6,932,758
86$9,248,136$3,827,354$2,891,553$7,479,157
87$10,122,699$3,946,146$2,919,672$8,076,520
88$11,084,301$4,068,595$2,946,568$8,729,904
89$12,141,753$4,194,809$2,972,132$9,444,880
90$13,304,761$4,324,904$2,996,247$10,227,581
91$14,584,019$4,458,996$3,018,794$11,084,763
92$15,991,309$4,597,208$3,039,644$12,023,868
93$17,539,615$4,739,663$3,058,664$13,053,089
94$19,243,239$4,886,490$3,075,713$14,181,453
95$21,117,942$5,037,821$3,090,642$15,418,902
96$23,181,090$5,193,792$3,103,296$16,776,386
97$25,451,816$5,354,542$3,113,512$18,265,970
98$27,951,203$5,520,217$3,121,116$19,900,940
99$30,702,482$5,690,963$3,125,929$21,695,937
100$33,731,249$5,866,934$3,127,762$23,667,086