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%17%
1 years$199,841$198,061$196,325$194,629$192,974$187,473
2 years$98,931$97,089$95,303$93,572$91,892$86,393
3 years$65,299$63,449$61,667$59,952$58,300$52,975
4 years$48,486$46,641$44,878$43,192$41,580$36,470
5 years$38,401$36,567$34,827$33,176$31,609$26,727
6 years$31,680$29,860$28,146$26,531$25,011$20,362
7 years$26,881$25,076$23,389$21,813$20,341$15,925
8 years$23,283$21,495$19,836$18,298$16,874$12,690
9 years$20,487$18,715$17,085$15,586$14,211$10,253
10 years$18,251$16,497$14,895$13,435$12,108$8,372
11 years$16,423$14,686$13,113$11,693$10,413$6,892
12 years$14,900$13,181$11,638$10,256$9,024$5,711
13 years$13,613$11,912$10,397$9,055$7,869$4,758
14 years$12,510$10,828$9,342$8,038$6,898$3,980
15 years$11,556$9,891$8,435$7,168$6,074$3,341
16 years$10,722$9,075$7,647$6,418$5,368$2,813
17 years$9,986$8,358$6,959$5,767$4,760$2,374
18 years$9,333$7,723$6,352$5,197$4,232$2,007
19 years$8,749$7,158$5,815$4,696$3,772$1,700
20 years$8,225$6,651$5,337$4,253$3,369$1,442
21 years$7,751$6,195$4,909$3,860$3,015$1,224
22 years$7,320$5,783$4,524$3,510$2,703$1,041
23 years$6,928$5,409$4,177$3,196$2,426$885
24 years$6,569$5,068$3,863$2,915$2,181$753
25 years$6,239$4,756$3,578$2,662$1,962$642
26 years$5,935$4,470$3,319$2,434$1,767$547
27 years$5,654$4,207$3,082$2,228$1,594$466
28 years$5,394$3,964$2,865$2,041$1,438$398
29 years$5,152$3,739$2,666$1,872$1,298$339
30 years$4,926$3,531$2,483$1,718$1,173$290
31 years$4,716$3,338$2,315$1,578$1,061$247
32 years$4,519$3,159$2,160$1,450$959$211
33 years$4,334$2,991$2,017$1,334$868$180
34 years$4,160$2,835$1,884$1,227$786$154
35 years$3,997$2,689$1,762$1,129$712$131
36 years$3,844$2,552$1,648$1,040$645$112
37 years$3,698$2,424$1,543$958$585$96
38 years$3,561$2,304$1,445$883$530$82
39 years$3,432$2,191$1,353$815$481$70
40 years$3,309$2,084$1,269$751$436$60
41 years$3,192$1,984$1,190$693$396$51
42 years$3,081$1,890$1,116$640$359$44
43 years$2,976$1,800$1,047$591$326$37
44 years$2,875$1,716$983$545$296$32
45 years$2,780$1,636$923$504$268$27
46 years$2,689$1,561$867$465$244$23
47 years$2,602$1,490$814$430$221$20
48 years$2,518$1,422$765$397$201$17
49 years$2,439$1,358$719$367$183$15
50 years$2,363$1,297$676$339$166$12

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 $3,571 every year, while hoping to spend $38,091 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: 51/24/25 Blend
70$2,420,000$2,420,000$2,420,000$2,420,000
71$2,670,523$2,542,263$2,504,753$2,787,828
72$2,902,388$2,626,306$2,548,134$2,953,698
73$3,156,627$2,713,190$2,591,692$3,129,805
74$3,435,481$2,803,014$2,635,391$3,320,526
75$3,741,419$2,895,881$2,679,196$3,527,266
76$4,077,163$2,991,898$2,723,068$3,751,570
77$4,445,706$3,091,174$2,766,964$3,995,139
78$4,850,351$3,193,824$2,810,840$4,259,844
79$5,294,731$3,299,966$2,854,647$4,547,747
80$5,782,852$3,409,723$2,898,337$4,861,116
81$6,319,126$3,523,222$2,941,853$5,202,448
82$6,908,411$3,640,594$2,985,140$5,574,494
83$7,556,063$3,761,977$3,028,136$5,980,282
84$8,267,979$3,887,512$3,070,776$6,423,144
85$9,050,659$4,017,346$3,112,993$6,906,754
86$9,911,261$4,151,631$3,154,714$7,435,155
87$10,857,674$4,290,525$3,195,861$8,012,800
88$11,898,589$4,434,193$3,236,354$8,644,593
89$13,043,579$4,582,803$3,276,106$9,335,937
90$14,303,196$4,736,532$3,315,028$10,092,782
91$15,689,063$4,895,562$3,353,022$10,921,682
92$17,213,986$5,060,084$3,389,987$11,829,857
93$18,892,078$5,230,293$3,425,817$12,825,259
94$20,738,887$5,406,395$3,460,399$13,916,649
95$22,771,544$5,588,599$3,493,613$15,113,679
96$25,008,927$5,777,126$3,525,334$16,426,981
97$27,471,836$5,972,203$3,555,431$17,868,268
98$30,183,190$6,174,067$3,583,764$19,450,444
99$33,168,242$6,382,963$3,610,187$21,187,728
100$36,454,820$6,599,146$3,634,546$23,095,783