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%19.5%
1 years$191,583$189,877$188,212$186,587$185,000$177,941
2 years$94,843$93,077$91,365$89,705$88,095$81,067
3 years$62,601$60,827$59,119$57,475$55,891$49,114
4 years$46,483$44,714$43,024$41,408$39,862$33,388
5 years$36,814$35,056$33,388$31,805$30,303$24,148
6 years$30,371$28,626$26,983$25,435$23,977$18,147
7 years$25,770$24,040$22,423$20,911$19,500$13,992
8 years$22,321$20,607$19,016$17,542$16,177$10,986
9 years$19,640$17,942$16,379$14,942$13,624$8,741
10 years$17,497$15,815$14,279$12,880$11,608$7,026
11 years$15,744$14,079$12,571$11,209$9,983$5,692
12 years$14,284$12,637$11,157$9,832$8,651$4,639
13 years$13,050$11,420$9,968$8,680$7,544$3,799
14 years$11,994$10,380$8,956$7,705$6,613$3,123
15 years$11,078$9,483$8,086$6,872$5,823$2,576
16 years$10,278$8,700$7,331$6,153$5,146$2,130
17 years$9,573$8,013$6,671$5,528$4,563$1,764
18 years$8,947$7,404$6,090$4,982$4,057$1,464
19 years$8,388$6,862$5,575$4,502$3,616$1,217
20 years$7,885$6,376$5,116$4,077$3,230$1,013
21 years$7,431$5,939$4,706$3,700$2,891$843
22 years$7,018$5,544$4,337$3,365$2,591$703
23 years$6,642$5,185$4,005$3,064$2,326$586
24 years$6,298$4,858$3,704$2,795$2,090$489
25 years$5,981$4,559$3,430$2,552$1,881$409
26 years$5,690$4,285$3,182$2,334$1,694$341
27 years$5,420$4,033$2,954$2,136$1,528$285
28 years$5,171$3,800$2,746$1,957$1,378$238
29 years$4,939$3,585$2,556$1,795$1,245$199
30 years$4,723$3,386$2,381$1,647$1,125$166
31 years$4,521$3,200$2,219$1,513$1,017$139
32 years$4,332$3,028$2,071$1,390$920$116
33 years$4,155$2,868$1,933$1,278$832$97
34 years$3,989$2,718$1,807$1,176$754$81
35 years$3,832$2,578$1,689$1,083$683$68
36 years$3,685$2,447$1,580$997$618$57
37 years$3,546$2,324$1,479$919$561$48
38 years$3,414$2,209$1,385$847$508$40
39 years$3,290$2,100$1,297$781$461$33
40 years$3,172$1,998$1,216$720$418$28
41 years$3,060$1,902$1,140$665$379$23
42 years$2,954$1,811$1,070$613$344$20
43 years$2,853$1,726$1,004$566$312$16
44 years$2,756$1,645$942$523$283$14
45 years$2,665$1,569$885$483$257$11
46 years$2,577$1,497$831$446$234$10
47 years$2,494$1,428$781$412$212$8
48 years$2,414$1,363$734$381$193$7
49 years$2,338$1,302$690$352$175$6
50 years$2,265$1,244$648$325$159$5

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 $2,590 every year, while hoping to spend $28,601 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: 45/33/22 Blend
70$2,320,000$2,320,000$2,320,000$2,320,000
71$2,559,312$2,436,352$2,400,392$2,658,146
72$2,789,930$2,525,302$2,450,373$2,816,965
73$3,043,113$2,617,652$2,501,071$2,986,081
74$3,321,132$2,713,538$2,552,478$3,168,900
75$3,626,489$2,813,103$2,604,588$3,366,712
76$3,961,940$2,916,494$2,657,391$3,580,932
77$4,330,522$3,023,867$2,710,878$3,813,118
78$4,735,581$3,135,381$2,765,037$4,064,981
79$5,180,800$3,251,205$2,819,856$4,338,404
80$5,670,241$3,371,513$2,875,320$4,635,459
81$6,208,376$3,496,488$2,931,414$4,958,422
82$6,800,134$3,626,319$2,988,120$5,309,800
83$7,450,944$3,761,205$3,045,418$5,692,349
84$8,166,788$3,901,352$3,103,288$6,109,102
85$8,954,258$4,046,976$3,161,705$6,563,397
86$9,820,615$4,198,300$3,220,645$7,058,908
87$10,773,860$4,355,559$3,280,080$7,599,678
88$11,822,810$4,518,998$3,339,979$8,190,155
89$12,977,179$4,688,871$3,400,310$8,835,238
90$14,247,669$4,865,444$3,461,038$9,540,319
91$15,646,074$5,048,993$3,522,125$10,311,333
92$17,185,388$5,239,808$3,583,531$11,154,815
93$18,879,930$5,438,191$3,645,212$12,077,961
94$20,745,476$5,644,456$3,707,120$13,088,692
95$22,799,412$5,858,931$3,769,205$14,195,731
96$25,060,893$6,081,960$3,831,415$15,408,686
97$27,551,027$6,313,899$3,893,690$16,738,133
98$30,293,073$6,555,121$3,955,970$18,195,723
99$33,312,661$6,806,017$4,018,190$19,794,285
100$36,638,032$7,066,992$4,080,279$21,547,950