Can I retire at age 71 with 2,390,000?

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$197,364$195,606$193,891$192,217$190,582$186,963
2 years$97,705$95,885$94,122$92,412$90,753$87,122
3 years$64,490$62,662$60,903$59,209$57,578$54,046
4 years$47,885$46,063$44,322$42,657$41,065$37,661
5 years$37,925$36,114$34,396$32,765$31,217$27,950
6 years$31,287$29,490$27,797$26,202$24,701$21,575
7 years$26,548$24,766$23,099$21,542$20,088$17,104
8 years$22,995$21,229$19,590$18,071$16,665$13,822
9 years$20,233$18,483$16,873$15,393$14,035$11,330
10 years$18,025$16,292$14,710$13,269$11,958$9,390
11 years$16,219$14,504$12,951$11,548$10,284$7,850
12 years$14,715$13,018$11,493$10,129$8,912$6,608
13 years$13,444$11,764$10,268$8,942$7,772$5,593
14 years$12,355$10,694$9,226$7,938$6,813$4,756
15 years$11,413$9,769$8,330$7,079$5,998$4,060
16 years$10,589$8,963$7,552$6,339$5,301$3,477
17 years$9,862$8,254$6,872$5,695$4,701$2,986
18 years$9,217$7,627$6,274$5,133$4,180$2,570
19 years$8,641$7,069$5,743$4,638$3,725$2,216
20 years$8,123$6,569$5,271$4,200$3,327$1,914
21 years$7,655$6,119$4,848$3,812$2,978$1,655
22 years$7,230$5,711$4,468$3,466$2,669$1,433
23 years$6,842$5,342$4,126$3,157$2,396$1,242
24 years$6,488$5,005$3,816$2,879$2,154$1,078
25 years$6,162$4,697$3,534$2,629$1,938$936
26 years$5,862$4,414$3,278$2,404$1,746$813
27 years$5,584$4,154$3,044$2,201$1,574$707
28 years$5,327$3,915$2,829$2,016$1,420$615
29 years$5,088$3,693$2,633$1,849$1,282$535
30 years$4,865$3,488$2,453$1,697$1,159$465
31 years$4,657$3,297$2,286$1,558$1,047$405
32 years$4,463$3,120$2,133$1,432$948$353
33 years$4,280$2,954$1,992$1,317$858$308
34 years$4,109$2,800$1,861$1,212$776$268
35 years$3,948$2,656$1,740$1,115$703$234
36 years$3,796$2,521$1,628$1,027$637$204
37 years$3,653$2,394$1,523$947$577$177
38 years$3,517$2,275$1,427$872$524$155
39 years$3,389$2,164$1,337$804$475$135
40 years$3,268$2,058$1,253$742$431$118
41 years$3,152$1,959$1,175$685$391$103
42 years$3,043$1,866$1,102$632$354$89
43 years$2,939$1,778$1,034$583$322$78
44 years$2,840$1,695$971$538$292$68
45 years$2,745$1,616$911$497$265$59
46 years$2,655$1,542$856$459$241$52
47 years$2,569$1,471$804$424$219$45
48 years$2,487$1,405$756$392$198$39
49 years$2,409$1,341$710$362$180$34
50 years$2,333$1,281$668$335$164$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,390,000, adding $6,826 every year, while hoping to spend $43,161 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: 56/29/15 Blend
70$2,390,000$2,390,000$2,390,000$2,390,000
71$2,640,821$2,514,151$2,477,106$2,778,009
72$2,864,262$2,591,421$2,514,166$2,949,195
73$3,109,047$2,671,032$2,551,021$3,130,299
74$3,377,308$2,753,050$2,587,619$3,326,586
75$3,671,393$2,837,549$2,623,903$3,539,520
76$3,993,886$2,924,601$2,659,815$3,770,707
77$4,347,637$3,014,280$2,695,293$4,021,920
78$4,735,780$3,106,664$2,730,270$4,295,107
79$5,161,772$3,201,833$2,764,676$4,592,413
80$5,629,418$3,299,868$2,798,438$4,916,201
81$6,142,909$3,400,852$2,831,477$5,269,071
82$6,706,865$3,504,873$2,863,710$5,653,886
83$7,326,371$3,612,018$2,895,050$6,073,799
84$8,007,032$3,722,378$2,925,406$6,532,283
85$8,755,022$3,836,047$2,954,679$7,033,160
86$9,577,142$3,953,121$2,982,769$7,580,642
87$10,480,885$4,073,698$3,009,566$8,179,365
88$11,474,507$4,197,881$3,034,958$8,834,438
89$12,567,101$4,325,772$3,058,824$9,551,488
90$13,768,690$4,457,479$3,081,039$10,336,710
91$15,090,312$4,593,112$3,101,470$11,196,930
92$16,544,133$4,732,783$3,119,978$12,139,670
93$18,143,553$4,876,608$3,136,415$13,173,211
94$19,903,340$5,024,706$3,150,630$14,306,678
95$21,839,762$5,177,199$3,162,458$15,550,126
96$23,970,748$5,334,211$3,171,730$16,914,627
97$26,316,049$5,495,873$3,178,268$18,412,385
98$28,897,430$5,662,314$3,181,884$20,056,840
99$31,738,872$5,833,672$3,182,381$21,862,804
100$34,866,799$6,010,083$3,179,553$23,846,593