Can I retire at age 71 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$201,493$199,698$197,947$196,238$194,569$193,100
2 years$99,749$97,891$96,091$94,345$92,652$91,171
3 years$65,839$63,973$62,177$60,448$58,782$57,335
4 years$48,887$47,027$45,249$43,549$41,924$40,522
5 years$38,719$36,870$35,115$33,450$31,870$30,517
6 years$31,942$30,107$28,378$26,750$25,218$23,915
7 years$27,103$25,284$23,582$21,993$20,509$19,258
8 years$23,476$21,673$20,000$18,449$17,014$15,815
9 years$20,656$18,870$17,226$15,715$14,328$13,180
10 years$18,402$16,633$15,018$13,546$12,208$11,111
11 years$16,558$14,807$13,221$11,789$10,500$9,451
12 years$15,023$13,290$11,734$10,341$9,099$8,099
13 years$13,725$12,011$10,483$9,129$7,934$6,982
14 years$12,614$10,917$9,419$8,104$6,955$6,050
15 years$11,651$9,973$8,504$7,227$6,124$5,264
16 years$10,810$9,150$7,710$6,471$5,412$4,596
17 years$10,069$8,427$7,016$5,814$4,799$4,025
18 years$9,410$7,787$6,405$5,240$4,267$3,535
19 years$8,822$7,217$5,863$4,735$3,803$3,111
20 years$8,293$6,706$5,381$4,288$3,397$2,743
21 years$7,815$6,247$4,950$3,892$3,040$2,423
22 years$7,381$5,831$4,562$3,539$2,725$2,143
23 years$6,985$5,454$4,212$3,223$2,446$1,898
24 years$6,623$5,110$3,895$2,939$2,199$1,683
25 years$6,291$4,795$3,608$2,684$1,978$1,493
26 years$5,984$4,507$3,346$2,454$1,782$1,327
27 years$5,701$4,241$3,107$2,247$1,607$1,179
28 years$5,438$3,997$2,889$2,058$1,450$1,049
29 years$5,194$3,770$2,688$1,888$1,309$934
30 years$4,967$3,561$2,504$1,732$1,183$832
31 years$4,754$3,366$2,334$1,591$1,069$741
32 years$4,556$3,185$2,178$1,462$967$661
33 years$4,370$3,016$2,033$1,345$875$589
34 years$4,195$2,859$1,900$1,237$793$525
35 years$4,030$2,711$1,776$1,139$718$469
36 years$3,875$2,573$1,662$1,049$650$418
37 years$3,729$2,444$1,555$966$590$374
38 years$3,591$2,323$1,457$891$534$334
39 years$3,460$2,209$1,365$821$485$298
40 years$3,336$2,102$1,279$758$440$266
41 years$3,218$2,000$1,199$699$399$238
42 years$3,106$1,905$1,125$645$362$212
43 years$3,000$1,815$1,056$595$328$190
44 years$2,899$1,730$991$550$298$170
45 years$2,803$1,650$930$508$271$152
46 years$2,711$1,574$874$469$246$135
47 years$2,623$1,502$821$433$223$121
48 years$2,539$1,434$772$400$203$108
49 years$2,459$1,369$725$370$184$97
50 years$2,382$1,308$682$342$167$87

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,440,000, adding $4,432 every year, while hoping to spend $30,160 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: 74/12/14 Blend
70$2,440,000$2,440,000$2,440,000$2,440,000
71$2,693,452$2,564,132$2,526,312$2,884,367
72$2,936,094$2,657,684$2,578,853$3,104,771
73$3,202,474$2,754,810$2,632,144$3,342,022
74$3,494,983$2,855,652$2,686,177$3,601,159
75$3,816,252$2,960,360$2,740,945$3,884,346
76$4,169,182$3,069,089$2,796,438$4,193,964
77$4,556,966$3,182,002$2,852,646$4,532,639
78$4,983,123$3,299,266$2,909,557$4,903,259
79$5,451,531$3,421,060$2,967,156$5,309,006
80$5,966,460$3,547,565$3,025,429$5,753,385
81$6,532,617$3,678,974$3,084,359$6,240,254
82$7,155,185$3,815,485$3,143,926$6,773,864
83$7,839,877$3,957,307$3,204,111$7,358,896
84$8,592,986$4,104,656$3,264,890$8,000,506
85$9,421,446$4,257,759$3,326,238$8,704,373
86$10,332,895$4,416,851$3,388,129$9,476,754
87$11,335,752$4,582,178$3,450,533$10,324,538
88$12,439,290$4,753,997$3,513,418$11,255,317
89$13,653,729$4,932,574$3,576,749$12,277,454
90$14,990,329$5,118,189$3,640,489$13,400,159
91$16,461,495$5,311,133$3,704,598$14,633,581
92$18,080,897$5,511,709$3,769,032$15,988,900
93$19,863,600$5,720,233$3,833,745$17,478,432
94$21,826,198$5,937,036$3,898,688$19,115,747
95$23,986,983$6,162,463$3,963,806$20,915,794
96$26,366,104$6,396,873$4,029,042$22,895,044
97$28,985,768$6,640,641$4,094,336$25,071,643
98$31,870,442$6,894,158$4,159,623$27,465,586
99$35,047,090$7,157,835$4,224,833$30,098,900
100$38,545,420$7,432,095$4,289,891$32,995,856