Can I retire at age 71 with 2,450,000?

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 $2,450,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$202,319$200,517$198,758$197,042$195,366$191,500
2 years$100,158$98,292$96,485$94,732$93,032$89,153
3 years$66,109$64,235$62,432$60,696$59,023$55,253
4 years$49,087$47,220$45,434$43,728$42,096$38,463
5 years$38,877$37,021$35,259$33,587$32,001$28,515
6 years$32,073$30,230$28,495$26,860$25,321$21,987
7 years$27,214$25,387$23,679$22,083$20,593$17,411
8 years$23,572$21,762$20,082$18,525$17,084$14,054
9 years$20,741$18,947$17,296$15,779$14,387$11,506
10 years$18,477$16,701$15,079$13,602$12,258$9,524
11 years$16,626$14,868$13,276$11,838$10,543$7,952
12 years$15,085$13,345$11,782$10,383$9,136$6,685
13 years$13,782$12,060$10,526$9,167$7,967$5,651
14 years$12,666$10,962$9,458$8,137$6,984$4,799
15 years$11,699$10,014$8,539$7,257$6,149$4,091
16 years$10,854$9,188$7,742$6,498$5,434$3,499
17 years$10,110$8,462$7,045$5,838$4,819$3,000
18 years$9,449$7,819$6,431$5,261$4,284$2,578
19 years$8,858$7,246$5,887$4,754$3,819$2,220
20 years$8,327$6,734$5,403$4,306$3,411$1,914
21 years$7,847$6,272$4,970$3,908$3,052$1,653
22 years$7,411$5,855$4,580$3,553$2,736$1,429
23 years$7,014$5,476$4,229$3,236$2,456$1,237
24 years$6,650$5,131$3,911$2,951$2,208$1,071
25 years$6,316$4,815$3,623$2,695$1,987$929
26 years$6,009$4,525$3,360$2,464$1,789$806
27 years$5,724$4,259$3,120$2,256$1,613$699
28 years$5,461$4,013$2,900$2,067$1,456$607
29 years$5,215$3,786$2,699$1,895$1,314$527
30 years$4,987$3,575$2,514$1,739$1,188$458
31 years$4,774$3,380$2,344$1,597$1,074$398
32 years$4,575$3,198$2,187$1,468$971$346
33 years$4,388$3,029$2,042$1,350$879$301
34 years$4,212$2,870$1,908$1,242$796$262
35 years$4,047$2,722$1,784$1,143$721$228
36 years$3,891$2,584$1,669$1,053$653$198
37 years$3,744$2,454$1,562$970$592$173
38 years$3,605$2,332$1,462$894$537$150
39 years$3,474$2,218$1,370$825$487$131
40 years$3,350$2,110$1,284$761$441$114
41 years$3,231$2,009$1,204$702$400$99
42 years$3,119$1,913$1,130$648$363$86
43 years$3,013$1,823$1,060$598$330$75
44 years$2,911$1,737$995$552$299$65
45 years$2,814$1,657$934$510$272$57
46 years$2,722$1,580$877$471$247$50
47 years$2,634$1,508$824$435$224$43
48 years$2,550$1,440$775$402$203$38
49 years$2,469$1,375$728$372$185$33
50 years$2,392$1,313$685$343$168$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,450,000, adding $2,170 every year, while hoping to spend $36,586 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: 52/35/13 Blend
70$2,450,000$2,450,000$2,450,000$2,450,000
71$2,702,138$2,572,288$2,534,313$2,833,180
72$2,938,829$2,659,403$2,580,286$3,010,043
73$3,198,436$2,749,561$2,626,572$3,198,219
74$3,483,259$2,842,871$2,673,144$3,402,044
75$3,795,828$2,939,449$2,719,971$3,623,006
76$4,138,934$3,039,413$2,767,021$3,862,743
77$4,515,648$3,142,887$2,814,260$4,123,057
78$4,929,356$3,250,000$2,861,649$4,405,928
79$5,383,784$3,360,884$2,909,148$4,713,536
80$5,883,041$3,475,678$2,956,715$5,048,281
81$6,431,650$3,594,526$3,004,304$5,412,802
82$7,034,597$3,717,576$3,051,867$5,810,004
83$7,697,372$3,844,983$3,099,351$6,243,082
84$8,426,025$3,976,908$3,146,700$6,715,556
85$9,227,222$4,113,519$3,193,857$7,231,299
86$10,108,306$4,254,989$3,240,758$7,794,574
87$11,077,367$4,401,497$3,287,338$8,410,075
88$12,143,320$4,553,233$3,333,525$9,082,970
89$13,315,986$4,710,389$3,379,246$9,818,947
90$14,606,187$4,873,168$3,424,421$10,624,272
91$16,025,845$5,041,780$3,468,966$11,505,844
92$17,588,098$5,216,444$3,512,793$12,471,259
93$19,307,421$5,397,387$3,555,809$13,528,882
94$21,199,763$5,584,843$3,597,913$14,687,926
95$23,282,697$5,779,059$3,639,002$15,958,539
96$25,575,589$5,980,290$3,678,965$17,351,895
97$28,099,774$6,188,799$3,717,685$18,880,303
98$30,878,764$6,404,863$3,755,041$20,557,320
99$33,938,464$6,628,768$3,790,901$22,397,880
100$37,307,421$6,860,811$3,825,129$24,418,432