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%19.6%
1 years$194,887$193,151$191,457$189,804$188,190$180,937
2 years$96,479$94,682$92,940$91,252$89,614$82,394
3 years$63,680$61,876$60,139$58,466$56,855$49,894
4 years$47,284$45,485$43,765$42,121$40,549$33,901
5 years$37,449$35,661$33,964$32,353$30,825$24,506
6 years$30,895$29,120$27,448$25,873$24,391$18,406
7 years$26,215$24,455$22,809$21,272$19,836$14,183
8 years$22,706$20,962$19,344$17,844$16,456$11,129
9 years$19,979$18,251$16,661$15,199$13,858$8,850
10 years$17,798$16,088$14,525$13,102$11,808$7,109
11 years$16,015$14,322$12,788$11,403$10,155$5,755
12 years$14,531$12,855$11,349$10,002$8,800$4,687
13 years$13,275$11,617$10,140$8,830$7,674$3,836
14 years$12,200$10,559$9,110$7,838$6,727$3,152
15 years$11,269$9,646$8,226$6,990$5,923$2,597
16 years$10,456$8,850$7,458$6,259$5,235$2,146
17 years$9,738$8,151$6,786$5,624$4,642$1,777
18 years$9,102$7,532$6,195$5,068$4,127$1,473
19 years$8,532$6,980$5,671$4,580$3,679$1,224
20 years$8,021$6,486$5,205$4,148$3,286$1,017
21 years$7,559$6,042$4,787$3,764$2,940$847
22 years$7,139$5,640$4,412$3,423$2,636$705
23 years$6,756$5,275$4,074$3,117$2,366$588
24 years$6,406$4,942$3,768$2,843$2,127$490
25 years$6,084$4,638$3,490$2,596$1,914$409
26 years$5,788$4,359$3,236$2,374$1,724$341
27 years$5,514$4,102$3,005$2,173$1,554$285
28 years$5,260$3,866$2,794$1,991$1,402$238
29 years$5,024$3,647$2,600$1,826$1,266$199
30 years$4,804$3,444$2,422$1,675$1,144$166
31 years$4,599$3,256$2,258$1,539$1,034$139
32 years$4,407$3,080$2,106$1,414$936$116
33 years$4,226$2,917$1,967$1,300$847$97
34 years$4,057$2,765$1,838$1,197$767$81
35 years$3,898$2,622$1,718$1,101$694$68
36 years$3,748$2,489$1,607$1,014$629$57
37 years$3,607$2,364$1,504$935$570$47
38 years$3,473$2,247$1,409$862$517$39
39 years$3,346$2,136$1,320$794$469$33
40 years$3,226$2,033$1,237$733$425$28
41 years$3,113$1,935$1,160$676$386$23
42 years$3,005$1,843$1,088$624$350$19
43 years$2,902$1,756$1,021$576$318$16
44 years$2,804$1,674$958$532$288$13
45 years$2,711$1,596$900$491$262$11
46 years$2,622$1,522$845$454$238$9
47 years$2,537$1,453$794$419$216$8
48 years$2,456$1,387$746$387$196$7
49 years$2,378$1,324$701$358$178$6
50 years$2,304$1,265$659$331$162$5

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 $4,333 every year, while hoping to spend $20,680 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: 54/37/9 Blend
70$2,360,000$2,360,000$2,360,000$2,360,000
71$2,605,189$2,480,109$2,443,529$2,739,845
72$2,848,915$2,579,631$2,503,384$2,931,094
73$3,116,808$2,683,337$2,564,551$3,136,506
74$3,411,311$2,791,409$2,627,052$3,359,573
75$3,735,116$2,904,039$2,690,910$3,601,973
76$4,091,189$3,021,428$2,756,146$3,865,553
77$4,482,796$3,143,783$2,822,782$4,152,338
78$4,913,537$3,271,325$2,890,842$4,464,559
79$5,387,380$3,404,282$2,960,347$4,804,666
80$5,908,693$3,542,892$3,031,319$5,175,355
81$6,482,292$3,687,406$3,103,780$5,579,590
82$7,113,481$3,838,084$3,177,753$6,020,632
83$7,808,107$3,995,201$3,253,258$6,502,067
84$8,572,610$4,159,042$3,330,318$7,027,840
85$9,414,086$4,329,905$3,408,954$7,602,294
86$10,340,356$4,508,104$3,489,187$8,230,205
87$11,360,035$4,693,964$3,571,037$8,916,828
88$12,482,618$4,887,827$3,654,526$9,667,949
89$13,718,566$5,090,051$3,739,674$10,489,933
90$15,079,406$5,301,011$3,826,500$11,389,787
91$16,577,841$5,521,095$3,915,023$12,375,223
92$18,227,866$5,750,715$4,005,262$13,454,732
93$20,044,906$5,990,297$4,097,235$14,637,658
94$22,045,954$6,240,289$4,190,960$15,934,290
95$24,249,737$6,501,160$4,286,454$17,355,956
96$26,676,892$6,773,398$4,383,732$18,915,128
97$29,350,158$7,057,518$4,482,810$20,625,537
98$32,294,592$7,354,054$4,583,702$22,502,305
99$35,537,806$7,663,568$4,686,421$24,562,081
100$39,110,227$7,986,647$4,790,980$26,823,201