Can I retire at age 71 with 2,310,000?

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 $2,310,000?

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$190,758$189,058$187,401$185,783$184,203$180,042
2 years$94,434$92,676$90,971$89,319$87,716$83,546
3 years$62,331$60,565$58,864$57,227$55,650$51,602
4 years$46,282$44,521$42,838$41,229$39,690$35,795
5 years$36,656$34,905$33,244$31,668$30,172$26,440
6 years$30,240$28,503$26,866$25,325$23,874$20,310
7 years$25,659$23,937$22,326$20,821$19,416$16,019
8 years$22,225$20,518$18,934$17,466$16,107$12,878
9 years$19,556$17,865$16,308$14,877$13,565$10,499
10 years$17,421$15,747$14,218$12,824$11,558$8,653
11 years$15,676$14,019$12,517$11,161$9,940$7,193
12 years$14,223$12,582$11,109$9,790$8,614$6,019
13 years$12,994$11,371$9,925$8,643$7,512$5,065
14 years$11,942$10,336$8,917$7,672$6,585$4,281
15 years$11,031$9,442$8,051$6,842$5,798$3,632
16 years$10,234$8,663$7,300$6,127$5,124$3,090
17 years$9,532$7,978$6,642$5,505$4,543$2,636
18 years$8,909$7,372$6,064$4,961$4,040$2,254
19 years$8,352$6,832$5,551$4,482$3,601$1,931
20 years$7,851$6,349$5,094$4,060$3,216$1,656
21 years$7,398$5,914$4,686$3,684$2,878$1,423
22 years$6,988$5,520$4,319$3,350$2,580$1,223
23 years$6,613$5,163$3,988$3,051$2,316$1,053
24 years$6,270$4,837$3,688$2,783$2,081$907
25 years$5,956$4,540$3,416$2,541$1,873$782
26 years$5,665$4,267$3,168$2,324$1,687$674
27 years$5,397$4,015$2,942$2,127$1,521$582
28 years$5,148$3,784$2,735$1,949$1,372$503
29 years$4,917$3,569$2,545$1,787$1,239$434
30 years$4,702$3,371$2,370$1,640$1,120$375
31 years$4,501$3,187$2,210$1,506$1,012$324
32 years$4,313$3,015$2,062$1,384$916$280
33 years$4,137$2,855$1,925$1,273$829$242
34 years$3,971$2,706$1,799$1,171$750$209
35 years$3,816$2,567$1,682$1,078$680$181
36 years$3,669$2,436$1,573$993$616$157
37 years$3,530$2,314$1,472$915$558$136
38 years$3,399$2,199$1,379$843$506$117
39 years$3,276$2,091$1,292$778$459$102
40 years$3,158$1,990$1,211$717$416$88
41 years$3,047$1,894$1,135$662$378$76
42 years$2,941$1,804$1,065$611$343$66
43 years$2,840$1,719$999$564$311$57
44 years$2,745$1,638$938$520$282$49
45 years$2,653$1,562$881$481$256$43
46 years$2,566$1,490$827$444$233$37
47 years$2,483$1,422$777$410$211$32
48 years$2,404$1,358$730$379$192$28
49 years$2,328$1,296$687$350$174$24
50 years$2,255$1,238$645$324$158$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,310,000, adding $5,307 every year, while hoping to spend $27,436 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: 48/28/24 Blend
70$2,310,000$2,310,000$2,310,000$2,310,000
71$2,551,094$2,428,664$2,392,859$2,655,912
72$2,782,114$2,518,477$2,443,828$2,819,586
73$3,035,778$2,611,771$2,495,585$2,994,069
74$3,314,368$2,708,688$2,548,128$3,182,998
75$3,620,396$2,809,376$2,601,452$3,387,744
76$3,956,629$2,913,988$2,655,553$3,609,815
77$4,326,116$3,022,685$2,710,426$3,850,870
78$4,732,218$3,135,635$2,766,063$4,112,734
79$5,178,635$3,253,011$2,822,456$4,397,412
80$5,669,443$3,374,996$2,879,597$4,707,114
81$6,209,136$3,501,780$2,937,472$5,044,267
82$6,802,662$3,633,561$2,996,071$5,411,546
83$7,455,473$3,770,546$3,055,380$5,811,892
84$8,173,577$3,912,949$3,115,381$6,248,541
85$8,963,595$4,060,996$3,176,059$6,725,058
86$9,832,817$4,214,921$3,237,393$7,245,363
87$10,789,281$4,374,968$3,299,362$7,813,775
88$11,841,841$4,541,394$3,361,943$8,435,045
89$13,000,250$4,714,464$3,425,110$9,114,407
90$14,275,260$4,894,457$3,488,836$9,857,620
91$15,678,714$5,081,663$3,553,089$10,671,028
92$17,223,662$5,276,384$3,617,837$11,561,615
93$18,924,485$5,478,936$3,683,044$12,537,071
94$20,797,028$5,689,650$3,748,672$13,605,865
95$22,858,752$5,908,870$3,814,679$14,777,325
96$25,128,895$6,136,954$3,881,021$16,061,721
97$27,628,657$6,374,280$3,947,650$17,470,365
98$30,381,397$6,621,237$4,014,514$19,015,718
99$33,412,858$6,878,236$4,081,558$20,711,500
100$36,751,404$7,145,704$4,148,724$22,572,828