Can I retire at age 71 with 2,460,000?

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 $2,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$203,145$201,335$199,570$197,846$196,164$192,597
2 years$100,567$98,694$96,878$95,118$93,411$89,831
3 years$66,378$64,497$62,687$60,943$59,264$55,781
4 years$49,288$47,412$45,620$43,906$42,268$38,909
5 years$39,036$37,172$35,403$33,724$32,131$28,907
6 years$32,204$30,354$28,611$26,970$25,424$22,337
7 years$27,325$25,491$23,776$22,173$20,677$17,728
8 years$23,668$21,850$20,164$18,600$17,153$14,343
9 years$20,825$19,025$17,367$15,843$14,446$11,771
10 years$18,552$16,769$15,141$13,657$12,308$9,768
11 years$16,694$14,929$13,330$11,886$10,586$8,176
12 years$15,146$13,399$11,830$10,426$9,173$6,891
13 years$13,838$12,109$10,569$9,204$7,999$5,841
14 years$12,717$11,007$9,496$8,170$7,012$4,974
15 years$11,747$10,055$8,574$7,287$6,174$4,252
16 years$10,899$9,225$7,774$6,524$5,457$3,646
17 years$10,151$8,496$7,074$5,862$4,838$3,135
18 years$9,487$7,851$6,457$5,283$4,302$2,702
19 years$8,894$7,276$5,911$4,774$3,834$2,333
20 years$8,361$6,761$5,425$4,323$3,425$2,018
21 years$7,879$6,298$4,990$3,924$3,065$1,748
22 years$7,441$5,879$4,599$3,568$2,747$1,516
23 years$7,043$5,498$4,247$3,249$2,466$1,316
24 years$6,678$5,152$3,927$2,963$2,217$1,144
25 years$6,342$4,834$3,637$2,706$1,995$995
26 years$6,033$4,544$3,374$2,474$1,797$866
27 years$5,748$4,276$3,133$2,265$1,620$754
28 years$5,483$4,029$2,912$2,075$1,462$657
29 years$5,237$3,801$2,710$1,903$1,320$572
30 years$5,007$3,590$2,524$1,746$1,193$499
31 years$4,793$3,394$2,353$1,604$1,078$435
32 years$4,593$3,211$2,196$1,474$975$380
33 years$4,405$3,041$2,050$1,356$883$331
34 years$4,229$2,882$1,916$1,247$799$289
35 years$4,063$2,734$1,791$1,148$724$252
36 years$3,907$2,595$1,675$1,057$656$220
37 years$3,760$2,464$1,568$974$594$192
38 years$3,620$2,342$1,468$898$539$168
39 years$3,488$2,227$1,376$828$489$147
40 years$3,363$2,119$1,290$764$443$128
41 years$3,245$2,017$1,209$705$402$112
42 years$3,132$1,921$1,134$650$365$98
43 years$3,025$1,830$1,064$600$331$86
44 years$2,923$1,744$999$554$301$75
45 years$2,826$1,664$938$512$273$65
46 years$2,733$1,587$881$473$248$57
47 years$2,645$1,514$828$437$225$50
48 years$2,560$1,446$778$404$204$44
49 years$2,479$1,381$731$373$186$38
50 years$2,402$1,319$687$345$169$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,460,000, adding $3,015 every year, while hoping to spend $29,001 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: 72/22/6 Blend
70$2,460,000$2,460,000$2,460,000$2,460,000
71$2,714,030$2,583,650$2,545,520$2,907,254
72$2,960,004$2,679,392$2,599,938$3,130,819
73$3,230,096$2,778,853$2,655,207$3,371,585
74$3,526,734$2,882,186$2,711,325$3,634,363
75$3,852,595$2,989,547$2,768,289$3,921,313
76$4,210,628$3,101,103$2,826,094$4,234,811
77$4,604,079$3,217,024$2,884,736$4,577,475
78$5,036,527$3,337,490$2,944,206$4,952,183
79$5,511,914$3,462,689$3,004,499$5,362,108
80$6,034,583$3,592,814$3,065,603$5,810,738
81$6,609,319$3,728,070$3,127,509$6,301,916
82$7,241,393$3,868,669$3,190,204$6,839,875
83$7,936,612$4,014,831$3,253,673$7,429,271
84$8,701,377$4,166,788$3,317,902$8,075,236
85$9,542,738$4,324,781$3,382,872$8,783,417
86$10,468,463$4,489,061$3,448,563$9,560,036
87$11,487,111$4,659,890$3,514,955$10,411,942
88$12,608,114$4,837,542$3,582,024$11,346,682
89$13,841,862$5,022,303$3,649,742$12,372,563
90$15,199,807$5,214,470$3,718,083$13,498,738
91$16,694,562$5,414,354$3,787,014$14,735,287
92$18,340,031$5,622,281$3,856,502$16,093,313
93$20,151,530$5,838,588$3,926,511$17,585,046
94$22,145,937$6,063,631$3,997,001$19,223,955
95$24,341,852$6,297,777$4,067,929$21,024,882
96$26,759,765$6,541,413$4,139,249$23,004,171
97$29,422,260$6,794,941$4,210,913$25,179,831
98$32,354,219$7,058,781$4,282,867$27,571,697
99$35,583,061$7,333,373$4,355,054$30,201,624
100$39,138,999$7,619,174$4,427,414$33,093,685