Can I retire at age 71 with 2,430,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,430,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$200,667$198,880$197,136$195,434$193,772$186,674
2 years$99,340$97,490$95,697$93,958$92,272$85,200
3 years$65,569$63,711$61,922$60,200$58,541$51,718
4 years$48,687$46,834$45,064$43,371$41,752$35,229
5 years$38,560$36,719$34,971$33,313$31,739$25,533
6 years$31,811$29,983$28,262$26,641$25,114$19,230
7 years$26,992$25,180$23,486$21,903$20,425$14,861
8 years$23,380$21,584$19,918$18,374$16,944$11,696
9 years$20,571$18,793$17,155$15,650$14,269$9,329
10 years$18,326$16,565$14,956$13,491$12,158$7,518
11 years$16,490$14,747$13,167$11,741$10,457$6,106
12 years$14,962$13,236$11,686$10,298$9,061$4,990
13 years$13,669$11,961$10,440$9,092$7,902$4,097
14 years$12,562$10,873$9,381$8,071$6,927$3,378
15 years$11,604$9,932$8,469$7,198$6,099$2,794
16 years$10,766$9,113$7,679$6,445$5,390$2,317
17 years$10,027$8,392$6,987$5,791$4,779$1,925
18 years$9,372$7,755$6,379$5,218$4,249$1,603
19 years$8,786$7,187$5,839$4,715$3,788$1,336
20 years$8,259$6,679$5,359$4,271$3,383$1,115
21 years$7,783$6,221$4,929$3,876$3,028$931
22 years$7,351$5,807$4,543$3,524$2,714$779
23 years$6,957$5,431$4,195$3,209$2,436$652
24 years$6,596$5,089$3,879$2,927$2,190$546
25 years$6,265$4,775$3,593$2,673$1,970$457
26 years$5,960$4,488$3,332$2,444$1,775$383
27 years$5,677$4,224$3,094$2,237$1,600$321
28 years$5,416$3,980$2,877$2,050$1,444$269
29 years$5,173$3,755$2,677$1,880$1,304$226
30 years$4,946$3,546$2,494$1,725$1,178$189
31 years$4,735$3,352$2,325$1,584$1,065$159
32 years$4,537$3,172$2,169$1,456$963$133
33 years$4,352$3,004$2,025$1,339$872$112
34 years$4,178$2,847$1,892$1,232$789$94
35 years$4,014$2,700$1,769$1,134$715$79
36 years$3,859$2,563$1,655$1,045$648$66
37 years$3,714$2,434$1,549$962$587$55
38 years$3,576$2,313$1,451$887$532$47
39 years$3,446$2,200$1,359$818$483$39
40 years$3,322$2,093$1,274$754$438$33
41 years$3,205$1,992$1,194$696$397$28
42 years$3,094$1,897$1,120$642$360$23
43 years$2,988$1,808$1,051$593$327$19
44 years$2,887$1,723$987$548$297$16
45 years$2,791$1,643$927$506$270$14
46 years$2,700$1,568$870$467$245$11
47 years$2,612$1,496$818$432$222$10
48 years$2,529$1,428$768$399$202$8
49 years$2,449$1,364$722$369$183$7
50 years$2,373$1,303$679$341$166$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,430,000, adding $6,260 every year, while hoping to spend $34,456 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: 47/27/26 Blend
70$2,430,000$2,430,000$2,430,000$2,430,000
71$2,684,317$2,555,527$2,517,862$2,790,241
72$2,921,457$2,644,087$2,565,550$2,953,975
73$3,181,629$2,735,832$2,613,680$3,127,727
74$3,467,149$2,830,880$2,662,231$3,315,659
75$3,780,562$2,929,358$2,711,180$3,519,119
76$4,124,677$3,031,393$2,760,502$3,739,591
77$4,502,583$3,137,121$2,810,168$3,978,707
78$4,917,688$3,246,681$2,860,150$4,238,261
79$5,373,742$3,360,219$2,910,415$4,520,231
80$5,874,879$3,477,885$2,960,929$4,826,790
81$6,425,652$3,599,836$3,011,655$5,160,332
82$7,031,077$3,726,237$3,062,554$5,523,490
83$7,696,680$3,857,256$3,113,584$5,919,164
84$8,428,551$3,993,071$3,164,698$6,350,544
85$9,233,397$4,133,866$3,215,850$6,821,146
86$10,118,610$4,279,831$3,266,986$7,334,836
87$11,092,331$4,431,166$3,318,053$7,895,874
88$12,163,533$4,588,077$3,368,992$8,508,951
89$13,342,100$4,750,780$3,419,741$9,179,230
90$14,638,925$4,919,499$3,470,233$9,912,398
91$16,066,008$5,094,467$3,520,398$10,714,719
92$17,636,572$5,275,927$3,570,163$11,593,089
93$19,365,186$5,464,130$3,619,446$12,555,105
94$21,267,903$5,659,341$3,668,166$13,609,135
95$23,362,413$5,861,833$3,716,234$14,764,393
96$25,668,206$6,071,890$3,763,555$16,031,030
97$28,206,759$6,289,809$3,810,030$17,420,227
98$31,001,738$6,515,898$3,855,555$18,944,302
99$34,079,217$6,750,479$3,900,018$20,616,820
100$37,467,931$6,993,886$3,943,303$22,452,729