Can I retire at age 71 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$199,841$198,061$196,325$194,629$192,974$185,318
2 years$98,931$97,089$95,303$93,572$91,892$84,274
3 years$65,299$63,449$61,667$59,952$58,300$50,959
4 years$48,486$46,641$44,878$43,192$41,580$34,572
5 years$38,401$36,567$34,827$33,176$31,609$24,952
6 years$31,680$29,860$28,146$26,531$25,011$18,710
7 years$26,881$25,076$23,389$21,813$20,341$14,392
8 years$23,283$21,495$19,836$18,298$16,874$11,273
9 years$20,487$18,715$17,085$15,586$14,211$8,948
10 years$18,251$16,497$14,895$13,435$12,108$7,174
11 years$16,423$14,686$13,113$11,693$10,413$5,796
12 years$14,900$13,181$11,638$10,256$9,024$4,711
13 years$13,613$11,912$10,397$9,055$7,869$3,848
14 years$12,510$10,828$9,342$8,038$6,898$3,155
15 years$11,556$9,891$8,435$7,168$6,074$2,594
16 years$10,722$9,075$7,647$6,418$5,368$2,139
17 years$9,986$8,358$6,959$5,767$4,760$1,767
18 years$9,333$7,723$6,352$5,197$4,232$1,462
19 years$8,749$7,158$5,815$4,696$3,772$1,211
20 years$8,225$6,651$5,337$4,253$3,369$1,005
21 years$7,751$6,195$4,909$3,860$3,015$834
22 years$7,320$5,783$4,524$3,510$2,703$693
23 years$6,928$5,409$4,177$3,196$2,426$576
24 years$6,569$5,068$3,863$2,915$2,181$479
25 years$6,239$4,756$3,578$2,662$1,962$399
26 years$5,935$4,470$3,319$2,434$1,767$332
27 years$5,654$4,207$3,082$2,228$1,594$277
28 years$5,394$3,964$2,865$2,041$1,438$230
29 years$5,152$3,739$2,666$1,872$1,298$192
30 years$4,926$3,531$2,483$1,718$1,173$160
31 years$4,716$3,338$2,315$1,578$1,061$133
32 years$4,519$3,159$2,160$1,450$959$111
33 years$4,334$2,991$2,017$1,334$868$93
34 years$4,160$2,835$1,884$1,227$786$77
35 years$3,997$2,689$1,762$1,129$712$64
36 years$3,844$2,552$1,648$1,040$645$54
37 years$3,698$2,424$1,543$958$585$45
38 years$3,561$2,304$1,445$883$530$37
39 years$3,432$2,191$1,353$815$481$31
40 years$3,309$2,084$1,269$751$436$26
41 years$3,192$1,984$1,190$693$396$22
42 years$3,081$1,890$1,116$640$359$18
43 years$2,976$1,800$1,047$591$326$15
44 years$2,875$1,716$983$545$296$13
45 years$2,780$1,636$923$504$268$10
46 years$2,689$1,561$867$465$244$9
47 years$2,602$1,490$814$430$221$7
48 years$2,518$1,422$765$397$201$6
49 years$2,439$1,358$719$367$183$5
50 years$2,363$1,297$676$339$166$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,420,000, adding $2,156 every year, while hoping to spend $33,921 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: 68/20/12 Blend
70$2,420,000$2,420,000$2,420,000$2,420,000
71$2,669,064$2,540,804$2,503,294$2,843,424
72$2,905,217$2,629,212$2,551,063$3,048,047
73$3,164,320$2,720,814$2,599,295$3,267,503
74$3,448,680$2,815,733$2,647,970$3,506,639
75$3,760,834$2,914,093$2,697,066$3,767,380
76$4,103,581$3,016,025$2,746,559$4,051,848
77$4,480,000$3,121,665$2,796,423$4,362,376
78$4,893,487$3,231,153$2,846,630$4,701,534
79$5,347,780$3,344,637$2,897,149$5,072,151
80$5,846,998$3,462,269$2,947,948$5,477,342
81$6,395,680$3,584,207$2,998,992$5,920,537
82$6,998,824$3,710,618$3,050,243$6,405,511
83$7,661,938$3,841,673$3,101,661$6,936,424
84$8,391,091$3,977,550$3,153,202$7,517,854
85$9,192,968$4,118,436$3,204,820$8,154,845
86$10,074,936$4,264,524$3,256,466$8,852,952
87$11,045,108$4,416,015$3,308,087$9,618,292
88$12,112,429$4,573,119$3,359,627$10,457,602
89$13,286,748$4,736,054$3,411,026$11,378,303
90$14,578,922$4,905,046$3,462,221$12,388,571
91$16,000,911$5,080,332$3,513,145$13,497,408
92$17,565,893$5,262,158$3,563,724$14,714,734
93$19,288,389$5,450,779$3,613,884$16,051,473
94$21,184,400$5,646,461$3,663,544$17,519,662
95$23,271,554$5,849,484$3,712,618$19,132,559
96$25,569,278$6,060,134$3,761,016$20,904,771
97$28,098,976$6,278,712$3,808,643$22,852,389
98$30,884,236$6,505,533$3,855,396$24,993,142
99$33,951,045$6,740,921$3,901,169$27,346,559
100$37,328,042$6,985,217$3,945,849$29,934,159