Can I retire at age 71 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$191,583$189,877$188,212$186,587$185,000$183,373
2 years$94,843$93,077$91,365$89,705$88,095$86,456
3 years$62,601$60,827$59,119$57,475$55,891$54,290
4 years$46,483$44,714$43,024$41,408$39,862$38,312
5 years$36,814$35,056$33,388$31,805$30,303$28,807
6 years$30,371$28,626$26,983$25,435$23,977$22,539
7 years$25,770$24,040$22,423$20,911$19,500$18,120
8 years$22,321$20,607$19,016$17,542$16,177$14,854
9 years$19,640$17,942$16,379$14,942$13,624$12,358
10 years$17,497$15,815$14,279$12,880$11,608$10,399
11 years$15,744$14,079$12,571$11,209$9,983$8,830
12 years$14,284$12,637$11,157$9,832$8,651$7,552
13 years$13,050$11,420$9,968$8,680$7,544$6,498
14 years$11,994$10,380$8,956$7,705$6,613$5,619
15 years$11,078$9,483$8,086$6,872$5,823$4,879
16 years$10,278$8,700$7,331$6,153$5,146$4,252
17 years$9,573$8,013$6,671$5,528$4,563$3,716
18 years$8,947$7,404$6,090$4,982$4,057$3,256
19 years$8,388$6,862$5,575$4,502$3,616$2,859
20 years$7,885$6,376$5,116$4,077$3,230$2,516
21 years$7,431$5,939$4,706$3,700$2,891$2,217
22 years$7,018$5,544$4,337$3,365$2,591$1,957
23 years$6,642$5,185$4,005$3,064$2,326$1,729
24 years$6,298$4,858$3,704$2,795$2,090$1,529
25 years$5,981$4,559$3,430$2,552$1,881$1,354
26 years$5,690$4,285$3,182$2,334$1,694$1,200
27 years$5,420$4,033$2,954$2,136$1,528$1,064
28 years$5,171$3,800$2,746$1,957$1,378$945
29 years$4,939$3,585$2,556$1,795$1,245$839
30 years$4,723$3,386$2,381$1,647$1,125$745
31 years$4,521$3,200$2,219$1,513$1,017$662
32 years$4,332$3,028$2,071$1,390$920$589
33 years$4,155$2,868$1,933$1,278$832$524
34 years$3,989$2,718$1,807$1,176$754$466
35 years$3,832$2,578$1,689$1,083$683$415
36 years$3,685$2,447$1,580$997$618$369
37 years$3,546$2,324$1,479$919$561$329
38 years$3,414$2,209$1,385$847$508$293
39 years$3,290$2,100$1,297$781$461$261
40 years$3,172$1,998$1,216$720$418$233
41 years$3,060$1,902$1,140$665$379$207
42 years$2,954$1,811$1,070$613$344$185
43 years$2,853$1,726$1,004$566$312$165
44 years$2,756$1,645$942$523$283$147
45 years$2,665$1,569$885$483$257$131
46 years$2,577$1,497$831$446$234$117
47 years$2,494$1,428$781$412$212$104
48 years$2,414$1,363$734$381$193$93
49 years$2,338$1,302$690$352$175$83
50 years$2,265$1,244$648$325$159$74

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,320,000, adding $5,728 every year, while hoping to spend $36,968 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: 28/47/25 Blend
70$2,320,000$2,320,000$2,320,000$2,320,000
71$2,562,548$2,439,588$2,403,628$2,614,173
72$2,784,595$2,519,795$2,444,816$2,735,587
73$3,028,051$2,602,692$2,486,145$2,862,331
74$3,295,061$2,688,373$2,527,580$2,997,746
75$3,587,988$2,776,934$2,569,085$3,142,598
76$3,909,434$2,868,475$2,610,621$3,297,729
77$4,262,265$2,963,099$2,652,145$3,464,063
78$4,649,638$3,060,913$2,693,613$3,642,617
79$5,075,030$3,162,027$2,734,979$3,834,506
80$5,542,273$3,266,556$2,776,190$4,040,955
81$6,055,587$3,374,619$2,817,195$4,263,311
82$6,619,621$3,486,339$2,857,935$4,503,055
83$7,239,496$3,601,844$2,898,350$4,761,815
84$7,920,857$3,721,266$2,938,376$5,041,380
85$8,669,918$3,844,742$2,977,946$5,343,720
86$9,493,529$3,972,414$3,016,987$5,670,998
87$10,399,236$4,104,430$3,055,423$6,025,596
88$11,395,353$4,240,941$3,093,174$6,410,134
89$12,491,038$4,382,106$3,130,154$6,827,494
90$13,696,383$4,528,089$3,166,274$7,280,848
91$15,022,509$4,679,060$3,201,439$7,773,686
92$16,481,666$4,835,195$3,235,548$8,309,849
93$18,087,353$4,996,676$3,268,496$8,893,566
94$19,854,444$5,163,694$3,300,171$9,529,491
95$21,799,326$5,336,444$3,330,456$10,222,747
96$23,940,058$5,515,131$3,359,227$10,978,975
97$26,296,537$5,699,965$3,386,354$11,804,384
98$28,890,686$5,891,166$3,411,699$12,705,812
99$31,746,663$6,088,960$3,435,118$13,690,788
100$34,891,087$6,293,584$3,456,459$14,767,603