Can I retire at age 71 with 2,410,000?

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 $2,410,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$199,016$197,243$195,513$193,825$192,177$190,328
2 years$98,523$96,688$94,909$93,185$91,513$89,651
3 years$65,029$63,186$61,413$59,705$58,059$56,241
4 years$48,286$46,449$44,693$43,014$41,408$39,649
5 years$38,243$36,416$34,683$33,039$31,478$29,781
6 years$31,549$29,737$28,029$26,421$24,908$23,276
7 years$26,770$24,973$23,292$21,722$20,256$18,691
8 years$23,187$21,406$19,754$18,222$16,805$15,306
9 years$20,402$18,638$17,014$15,521$14,152$12,719
10 years$18,175$16,429$14,833$13,380$12,058$10,689
11 years$16,355$14,625$13,059$11,644$10,370$9,065
12 years$14,839$13,127$11,589$10,214$8,987$7,744
13 years$13,557$11,863$10,354$9,017$7,837$6,655
14 years$12,459$10,783$9,303$8,004$6,870$5,747
15 years$11,508$9,851$8,400$7,138$6,049$4,983
16 years$10,677$9,038$7,616$6,392$5,346$4,336
17 years$9,945$8,323$6,930$5,743$4,740$3,785
18 years$9,294$7,691$6,326$5,176$4,214$3,312
19 years$8,713$7,128$5,791$4,677$3,756$2,904
20 years$8,191$6,624$5,315$4,236$3,355$2,551
21 years$7,719$6,170$4,889$3,844$3,003$2,245
22 years$7,290$5,759$4,506$3,495$2,691$1,978
23 years$6,899$5,387$4,160$3,183$2,416$1,745
24 years$6,542$5,047$3,848$2,903$2,172$1,542
25 years$6,213$4,736$3,564$2,651$1,954$1,363
26 years$5,911$4,451$3,305$2,424$1,760$1,206
27 years$5,631$4,189$3,069$2,219$1,587$1,068
28 years$5,371$3,947$2,853$2,033$1,432$946
29 years$5,130$3,724$2,655$1,864$1,293$839
30 years$4,906$3,517$2,473$1,711$1,168$744
31 years$4,696$3,325$2,306$1,571$1,056$660
32 years$4,500$3,146$2,151$1,444$955$586
33 years$4,316$2,979$2,008$1,328$865$521
34 years$4,143$2,823$1,877$1,222$783$462
35 years$3,981$2,678$1,755$1,125$709$411
36 years$3,828$2,542$1,641$1,036$642$365
37 years$3,683$2,414$1,536$954$582$325
38 years$3,547$2,294$1,439$880$528$289
39 years$3,417$2,182$1,348$811$479$257
40 years$3,295$2,076$1,263$748$434$228
41 years$3,179$1,976$1,185$690$394$203
42 years$3,068$1,882$1,111$637$357$181
43 years$2,963$1,793$1,043$588$324$161
44 years$2,863$1,709$979$543$294$143
45 years$2,768$1,630$919$501$267$127
46 years$2,677$1,555$863$463$243$113
47 years$2,591$1,484$811$428$220$101
48 years$2,508$1,416$762$395$200$90
49 years$2,429$1,353$716$365$182$80
50 years$2,353$1,292$673$338$165$71

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,410,000, adding $4,231 every year, while hoping to spend $26,386 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: 73/21/6 Blend
70$2,410,000$2,410,000$2,410,000$2,410,000
71$2,660,184$2,532,454$2,495,099$2,852,229
72$2,903,449$2,628,470$2,550,611$3,075,333
73$3,170,641$2,728,306$2,607,097$3,315,851
74$3,464,176$2,832,122$2,664,564$3,578,500
75$3,786,710$2,940,084$2,723,015$3,865,455
76$4,141,172$3,052,366$2,782,453$4,179,110
77$4,530,787$3,169,148$2,842,882$4,522,100
78$4,959,111$3,290,620$2,904,302$4,897,327
79$5,430,059$3,416,979$2,966,714$5,307,984
80$5,947,945$3,548,430$3,030,119$5,757,587
81$6,517,521$3,685,189$3,094,514$6,250,006
82$7,144,026$3,827,481$3,159,897$6,789,505
83$7,833,227$3,975,539$3,226,265$7,380,776
84$8,591,484$4,129,607$3,293,612$8,028,987
85$9,425,800$4,289,942$3,361,933$8,739,829
86$10,343,892$4,456,810$3,431,218$9,519,568
87$11,354,265$4,630,490$3,501,460$10,375,106
88$12,466,287$4,811,271$3,572,646$11,314,045
89$13,690,283$4,999,458$3,644,764$12,344,754
90$15,037,628$5,195,368$3,717,801$13,476,456
91$16,520,858$5,399,332$3,791,738$14,719,304
92$18,153,782$5,611,696$3,866,558$16,084,486
93$19,951,620$5,832,822$3,942,240$17,584,323
94$21,931,142$6,063,086$4,018,761$19,232,386
95$24,110,825$6,302,884$4,096,097$21,043,626
96$26,511,031$6,552,627$4,174,218$23,034,513
97$29,154,196$6,812,746$4,253,094$25,223,188
98$32,065,044$7,083,691$4,332,693$27,629,637
99$35,270,818$7,365,931$4,412,978$30,275,879
100$38,801,538$7,659,958$4,493,909$33,186,169