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%17.6%
1 years$189,932$188,240$186,589$184,978$183,405$177,748
2 years$94,026$92,275$90,577$88,932$87,336$81,686
3 years$62,061$60,302$58,610$56,980$55,409$49,944
4 years$46,082$44,329$42,653$41,051$39,518$34,279
5 years$36,497$34,754$33,100$31,531$30,041$25,042
6 years$30,109$28,379$26,750$25,215$23,771$19,016
7 years$25,548$23,833$22,229$20,731$19,332$14,822
8 years$22,129$20,429$18,852$17,391$16,038$11,769
9 years$19,471$17,787$16,237$14,813$13,506$9,474
10 years$17,346$15,679$14,156$12,769$11,508$7,707
11 years$15,608$13,958$12,463$11,113$9,897$6,321
12 years$14,161$12,528$11,060$9,747$8,577$5,217
13 years$12,938$11,321$9,882$8,606$7,479$4,328
14 years$11,890$10,291$8,879$7,639$6,556$3,606
15 years$10,983$9,401$8,016$6,813$5,772$3,014
16 years$10,190$8,625$7,268$6,100$5,102$2,527
17 years$9,491$7,943$6,614$5,481$4,524$2,123
18 years$8,870$7,340$6,037$4,939$4,022$1,787
19 years$8,316$6,803$5,527$4,463$3,585$1,507
20 years$7,817$6,321$5,072$4,042$3,202$1,272
21 years$7,366$5,888$4,666$3,669$2,866$1,075
22 years$6,957$5,496$4,300$3,336$2,569$909
23 years$6,585$5,141$3,970$3,038$2,306$770
24 years$6,243$4,816$3,672$2,771$2,072$652
25 years$5,930$4,520$3,401$2,530$1,865$553
26 years$5,641$4,248$3,154$2,314$1,680$469
27 years$5,374$3,998$2,929$2,118$1,514$398
28 years$5,126$3,767$2,723$1,940$1,367$338
29 years$4,896$3,554$2,534$1,779$1,234$287
30 years$4,682$3,356$2,360$1,633$1,115$243
31 years$4,482$3,173$2,200$1,500$1,008$207
32 years$4,294$3,002$2,053$1,378$912$176
33 years$4,119$2,843$1,917$1,267$825$149
34 years$3,954$2,695$1,791$1,166$747$127
35 years$3,799$2,556$1,674$1,073$677$108
36 years$3,653$2,426$1,566$989$613$92
37 years$3,515$2,304$1,466$911$556$78
38 years$3,385$2,190$1,373$840$504$66
39 years$3,261$2,082$1,286$774$457$56
40 years$3,144$1,981$1,206$714$414$48
41 years$3,034$1,886$1,131$659$376$41
42 years$2,928$1,796$1,060$608$341$35
43 years$2,828$1,711$995$561$310$29
44 years$2,733$1,631$934$518$281$25
45 years$2,642$1,555$877$479$255$21
46 years$2,555$1,484$824$442$232$18
47 years$2,473$1,416$774$408$210$15
48 years$2,393$1,352$727$377$191$13
49 years$2,318$1,291$684$349$173$11
50 years$2,246$1,233$643$322$158$9

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 $3,269 every year, while hoping to spend $34,362 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: 37/44/19 Blend
70$2,300,000$2,300,000$2,300,000$2,300,000
71$2,537,972$2,416,072$2,380,422$2,617,205
72$2,760,284$2,497,899$2,423,605$2,756,720
73$3,004,121$2,582,583$2,467,083$2,903,842
74$3,271,640$2,670,229$2,510,830$3,062,043
75$3,565,222$2,760,944$2,554,817$3,232,337
76$3,887,485$2,854,841$2,599,014$3,415,837
77$4,241,314$2,952,034$2,643,387$3,613,767
78$4,629,890$3,052,646$2,687,902$3,827,472
79$5,056,713$3,156,800$2,732,521$4,058,431
80$5,525,641$3,264,626$2,777,204$4,308,268
81$6,040,924$3,376,260$2,821,908$4,578,771
82$6,607,243$3,491,842$2,866,586$4,871,903
83$7,229,757$3,611,517$2,911,192$5,189,826
84$7,914,146$3,735,436$2,955,671$5,534,915
85$8,666,673$3,863,756$2,999,970$5,909,786
86$9,494,234$3,996,640$3,044,029$6,317,315
87$10,404,428$4,134,257$3,087,786$6,760,665
88$11,405,628$4,276,784$3,131,175$7,243,320
89$12,507,059$4,424,404$3,174,126$7,769,111
90$13,718,884$4,577,305$3,216,565$8,342,255
91$15,052,303$4,735,686$3,258,413$8,967,395
92$16,519,655$4,899,751$3,299,587$9,649,641
93$18,134,535$5,069,714$3,339,998$10,394,616
94$19,911,924$5,245,797$3,379,555$11,208,514
95$21,868,329$5,428,229$3,418,158$12,098,151
96$24,021,936$5,617,250$3,455,703$13,071,035
97$26,392,786$5,813,108$3,492,083$14,135,429
98$29,002,963$6,016,063$3,527,180$15,300,434
99$31,876,799$6,226,383$3,560,874$16,576,073
100$35,041,105$6,444,349$3,593,036$17,973,381