Can I retire at age 71 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$193,235$191,514$189,834$188,195$186,595$183,882
2 years$95,661$93,879$92,153$90,479$88,855$86,128
3 years$63,140$61,351$59,629$57,970$56,373$53,716
4 years$46,883$45,100$43,395$41,764$40,206$37,639
5 years$37,132$35,359$33,676$32,079$30,564$28,096
6 years$30,633$28,873$27,215$25,654$24,184$21,817
7 years$25,992$24,247$22,616$21,092$19,668$17,403
8 years$22,514$20,785$19,180$17,693$16,317$14,153
9 years$19,810$18,097$16,520$15,071$13,741$11,677
10 years$17,647$15,951$14,402$12,991$11,708$9,743
11 years$15,880$14,201$12,680$11,306$10,069$8,202
12 years$14,408$12,746$11,253$9,917$8,726$6,953
13 years$13,163$11,518$10,054$8,755$7,609$5,928
14 years$12,097$10,470$9,033$7,772$6,670$5,079
15 years$11,174$9,564$8,156$6,931$5,873$4,369
16 years$10,367$8,775$7,394$6,206$5,190$3,770
17 years$9,656$8,082$6,729$5,576$4,602$3,263
18 years$9,024$7,468$6,142$5,025$4,092$2,830
19 years$8,460$6,921$5,623$4,541$3,647$2,460
20 years$7,953$6,431$5,161$4,112$3,258$2,142
21 years$7,495$5,991$4,747$3,732$2,915$1,868
22 years$7,078$5,592$4,375$3,394$2,613$1,632
23 years$6,699$5,230$4,039$3,091$2,346$1,426
24 years$6,352$4,900$3,736$2,819$2,108$1,248
25 years$6,033$4,599$3,460$2,574$1,897$1,093
26 years$5,739$4,322$3,209$2,354$1,709$958
27 years$5,467$4,067$2,980$2,154$1,541$840
28 years$5,215$3,833$2,770$1,974$1,390$737
29 years$4,981$3,616$2,578$1,810$1,255$647
30 years$4,763$3,415$2,401$1,661$1,134$569
31 years$4,560$3,228$2,239$1,526$1,026$500
32 years$4,369$3,054$2,089$1,402$928$439
33 years$4,191$2,893$1,950$1,289$840$386
34 years$4,023$2,741$1,822$1,186$760$340
35 years$3,865$2,600$1,704$1,092$688$299
36 years$3,716$2,468$1,594$1,006$624$263
37 years$3,576$2,344$1,492$927$565$231
38 years$3,444$2,228$1,397$854$513$204
39 years$3,318$2,118$1,309$788$465$179
40 years$3,199$2,015$1,227$726$422$158
41 years$3,086$1,918$1,150$670$382$139
42 years$2,979$1,827$1,079$619$347$122
43 years$2,877$1,741$1,012$571$315$108
44 years$2,780$1,659$950$527$286$95
45 years$2,688$1,582$892$487$260$83
46 years$2,600$1,510$838$450$236$74
47 years$2,516$1,441$787$416$214$65
48 years$2,435$1,375$740$384$194$57
49 years$2,358$1,313$695$355$177$50
50 years$2,285$1,254$654$328$160$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,340,000, adding $4,375 every year, while hoping to spend $44,011 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: 68/17/15 Blend
70$2,340,000$2,340,000$2,340,000$2,340,000
71$2,583,193$2,459,173$2,422,903$2,749,523
72$2,799,851$2,532,845$2,457,243$2,934,586
73$3,037,134$2,608,652$2,491,258$3,131,310
74$3,297,097$2,686,652$2,524,891$3,345,366
75$3,582,008$2,766,904$2,558,082$3,578,453
76$3,894,360$2,849,470$2,590,765$3,832,442
77$4,236,903$2,934,412$2,622,873$4,109,393
78$4,612,662$3,021,794$2,654,335$4,411,575
79$5,024,972$3,111,680$2,685,074$4,741,485
80$5,477,505$3,204,139$2,715,010$5,101,876
81$5,974,306$3,299,237$2,744,058$5,495,777
82$6,519,831$3,397,045$2,772,129$5,926,527
83$7,118,988$3,497,634$2,799,130$6,397,801
84$7,777,184$3,601,077$2,824,960$6,913,649
85$8,500,375$3,707,449$2,849,515$7,478,534
86$9,295,125$3,816,826$2,872,685$8,097,367
87$10,168,662$3,929,285$2,894,355$8,775,563
88$11,128,952$4,044,905$2,914,401$9,519,086
89$12,184,768$4,163,768$2,932,696$10,334,506
90$13,345,778$4,285,957$2,949,105$11,229,061
91$14,622,633$4,411,554$2,963,486$12,210,725
92$16,027,068$4,540,647$2,975,690$13,288,286
93$17,572,013$4,673,323$2,985,560$14,471,423
94$19,271,713$4,809,671$2,992,931$15,770,802
95$21,141,865$4,949,781$2,997,630$17,198,174
96$23,199,761$5,093,747$2,999,477$18,766,488
97$25,464,458$5,241,662$2,998,281$20,490,011
98$27,956,951$5,393,621$2,993,842$22,384,461
99$30,700,374$5,549,723$2,985,950$24,467,160
100$33,720,219$5,710,066$2,974,386$26,757,194