Can I retire at age 71 with 2,360,000?

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 $2,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$194,887$193,151$191,457$189,804$188,190$182,825
2 years$96,479$94,682$92,940$91,252$89,614$84,251
3 years$63,680$61,876$60,139$58,466$56,855$51,662
4 years$47,284$45,485$43,765$42,121$40,549$35,566
5 years$37,449$35,661$33,964$32,353$30,825$26,064
6 years$30,895$29,120$27,448$25,873$24,391$19,858
7 years$26,215$24,455$22,809$21,272$19,836$15,530
8 years$22,706$20,962$19,344$17,844$16,456$12,375
9 years$19,979$18,251$16,661$15,199$13,858$9,999
10 years$17,798$16,088$14,525$13,102$11,808$8,164
11 years$16,015$14,322$12,788$11,403$10,155$6,722
12 years$14,531$12,855$11,349$10,002$8,800$5,570
13 years$13,275$11,617$10,140$8,830$7,674$4,640
14 years$12,200$10,559$9,110$7,838$6,727$3,881
15 years$11,269$9,646$8,226$6,990$5,923$3,258
16 years$10,456$8,850$7,458$6,259$5,235$2,743
17 years$9,738$8,151$6,786$5,624$4,642$2,315
18 years$9,102$7,532$6,195$5,068$4,127$1,957
19 years$8,532$6,980$5,671$4,580$3,679$1,658
20 years$8,021$6,486$5,205$4,148$3,286$1,406
21 years$7,559$6,042$4,787$3,764$2,940$1,194
22 years$7,139$5,640$4,412$3,423$2,636$1,015
23 years$6,756$5,275$4,074$3,117$2,366$863
24 years$6,406$4,942$3,768$2,843$2,127$735
25 years$6,084$4,638$3,490$2,596$1,914$626
26 years$5,788$4,359$3,236$2,374$1,724$533
27 years$5,514$4,102$3,005$2,173$1,554$455
28 years$5,260$3,866$2,794$1,991$1,402$388
29 years$5,024$3,647$2,600$1,826$1,266$331
30 years$4,804$3,444$2,422$1,675$1,144$282
31 years$4,599$3,256$2,258$1,539$1,034$241
32 years$4,407$3,080$2,106$1,414$936$206
33 years$4,226$2,917$1,967$1,300$847$176
34 years$4,057$2,765$1,838$1,197$767$150
35 years$3,898$2,622$1,718$1,101$694$128
36 years$3,748$2,489$1,607$1,014$629$109
37 years$3,607$2,364$1,504$935$570$94
38 years$3,473$2,247$1,409$862$517$80
39 years$3,346$2,136$1,320$794$469$68
40 years$3,226$2,033$1,237$733$425$58
41 years$3,113$1,935$1,160$676$386$50
42 years$3,005$1,843$1,088$624$350$43
43 years$2,902$1,756$1,021$576$318$36
44 years$2,804$1,674$958$532$288$31
45 years$2,711$1,596$900$491$262$27
46 years$2,622$1,522$845$454$238$23
47 years$2,537$1,453$794$419$216$19
48 years$2,456$1,387$746$387$196$17
49 years$2,378$1,324$701$358$178$14
50 years$2,304$1,265$659$331$162$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,360,000, adding $5,062 every year, while hoping to spend $32,593 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: 57/17/26 Blend
70$2,360,000$2,360,000$2,360,000$2,360,000
71$2,605,941$2,480,861$2,444,281$2,735,718
72$2,837,069$2,567,745$2,491,486$2,912,077
73$3,090,679$2,657,793$2,539,180$3,100,336
74$3,369,030$2,751,127$2,587,345$3,304,850
75$3,674,611$2,847,872$2,635,960$3,527,202
76$4,010,162$2,948,159$2,685,006$3,769,128
77$4,378,703$3,052,123$2,734,458$4,032,544
78$4,783,560$3,159,906$2,784,291$4,319,558
79$5,228,395$3,271,654$2,834,478$4,632,490
80$5,717,247$3,387,521$2,884,988$4,973,895
81$6,254,562$3,507,665$2,935,791$5,346,586
82$6,845,239$3,632,252$2,986,852$5,753,660
83$7,494,676$3,761,455$3,038,133$6,198,530
84$8,208,818$3,895,451$3,089,596$6,684,951
85$8,994,218$4,034,429$3,141,198$7,217,061
86$9,858,094$4,178,582$3,192,894$7,799,417
87$10,808,399$4,328,112$3,244,635$8,437,037
88$11,853,895$4,483,229$3,296,370$9,135,450
89$13,004,238$4,644,153$3,348,045$9,900,744
90$14,270,066$4,811,111$3,399,599$10,739,627
91$15,663,098$4,984,342$3,450,971$11,659,487
92$17,196,251$5,164,091$3,502,096$12,668,461
93$18,883,754$5,350,617$3,552,901$13,775,517
94$20,741,287$5,544,187$3,603,314$14,990,532
95$22,786,128$5,745,082$3,653,254$16,324,385
96$25,037,312$5,953,590$3,702,638$17,789,065
97$27,515,818$6,170,017$3,751,376$19,397,779
98$30,244,760$6,394,676$3,799,375$21,165,076
99$33,249,607$6,627,896$3,846,536$23,106,987
100$36,558,425$6,870,021$3,892,753$25,241,175