Can I retire at age 71 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$198,190$196,424$194,702$193,021$191,379$190,173
2 years$98,114$96,286$94,516$92,799$91,133$89,916
3 years$64,759$62,924$61,158$59,457$57,819$56,629
4 years$48,086$46,256$44,507$42,835$41,237$40,084
5 years$38,084$36,265$34,539$32,902$31,347$30,234
6 years$31,418$29,613$27,913$26,312$24,804$23,732
7 years$26,659$24,869$23,196$21,632$20,172$19,142
8 years$23,091$21,318$19,672$18,147$16,735$15,746
9 years$20,318$18,561$16,943$15,457$14,093$13,146
10 years$18,100$16,360$14,772$13,324$12,008$11,102
11 years$16,287$14,565$13,005$11,596$10,327$9,461
12 years$14,777$13,072$11,541$10,171$8,950$8,123
13 years$13,500$11,814$10,311$8,980$7,804$7,016
14 years$12,407$10,738$9,265$7,971$6,841$6,091
15 years$11,460$9,810$8,365$7,109$6,023$5,310
16 years$10,633$9,000$7,584$6,365$5,324$4,646
17 years$9,904$8,289$6,901$5,719$4,720$4,078
18 years$9,256$7,659$6,300$5,154$4,197$3,588
19 years$8,677$7,099$5,767$4,657$3,741$3,165
20 years$8,157$6,596$5,293$4,218$3,341$2,796
21 years$7,687$6,144$4,868$3,828$2,990$2,475
22 years$7,260$5,735$4,487$3,481$2,680$2,194
23 years$6,871$5,364$4,143$3,170$2,406$1,948
24 years$6,515$5,026$3,832$2,891$2,163$1,731
25 years$6,188$4,717$3,549$2,640$1,946$1,540
26 years$5,886$4,433$3,291$2,414$1,753$1,371
27 years$5,607$4,172$3,056$2,210$1,580$1,222
28 years$5,349$3,931$2,841$2,025$1,426$1,090
29 years$5,109$3,708$2,644$1,857$1,288$972
30 years$4,885$3,502$2,463$1,704$1,163$868
31 years$4,677$3,311$2,296$1,565$1,052$775
32 years$4,481$3,133$2,142$1,438$951$693
33 years$4,298$2,967$2,000$1,323$861$619
34 years$4,126$2,812$1,869$1,217$780$554
35 years$3,964$2,667$1,747$1,120$706$495
36 years$3,812$2,531$1,634$1,032$640$443
37 years$3,668$2,404$1,530$951$580$397
38 years$3,532$2,285$1,433$876$526$355
39 years$3,403$2,173$1,342$808$477$318
40 years$3,281$2,067$1,258$745$432$285
41 years$3,165$1,968$1,180$687$392$255
42 years$3,056$1,874$1,107$634$356$228
43 years$2,951$1,785$1,038$586$323$205
44 years$2,852$1,702$975$541$293$183
45 years$2,757$1,623$915$499$266$164
46 years$2,666$1,548$860$461$242$147
47 years$2,580$1,477$808$426$219$132
48 years$2,498$1,410$759$394$199$118
49 years$2,419$1,347$713$364$181$106
50 years$2,343$1,287$671$336$164$95

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,400,000, adding $3,217 every year, while hoping to spend $46,713 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: 46/48/6 Blend
70$2,400,000$2,400,000$2,400,000$2,400,000
71$2,648,118$2,520,918$2,483,718$2,765,492
72$2,868,524$2,594,741$2,517,221$2,920,310
73$3,109,846$2,670,615$2,550,280$3,083,008
74$3,374,167$2,748,593$2,582,831$3,258,397
75$3,663,784$2,828,725$2,614,807$3,447,661
76$3,981,223$2,911,066$2,646,136$3,652,105
77$4,329,268$2,995,669$2,676,743$3,873,161
78$4,710,986$3,082,589$2,706,546$4,112,408
79$5,129,753$3,171,882$2,735,462$4,371,581
80$5,589,289$3,263,606$2,763,401$4,652,587
81$6,093,691$3,357,818$2,790,270$4,957,527
82$6,647,473$3,454,576$2,815,969$5,288,714
83$7,255,605$3,553,940$2,840,395$5,648,689
84$7,923,565$3,655,971$2,863,436$6,040,255
85$8,657,386$3,760,731$2,884,977$6,466,491
86$9,463,712$3,868,280$2,904,898$6,930,793
87$10,349,868$3,978,682$2,923,068$7,436,894
88$11,323,918$4,092,001$2,939,355$7,988,909
89$12,394,749$4,208,301$2,953,615$8,591,365
90$13,572,153$4,327,647$2,965,701$9,249,249
91$14,866,916$4,450,106$2,975,455$9,968,054
92$16,290,923$4,575,742$2,982,714$10,753,826
93$17,857,267$4,704,623$2,987,305$11,613,227
94$19,580,375$4,836,817$2,989,046$12,553,593
95$21,476,143$4,972,390$2,987,749$13,583,003
96$23,562,084$5,111,412$2,983,213$14,710,359
97$25,857,495$5,253,950$2,975,229$15,945,463
98$28,383,639$5,400,072$2,963,579$17,299,115
99$31,163,943$5,549,848$2,948,031$18,783,212
100$34,224,220$5,703,347$2,928,346$20,410,859