Can I retire at age 71 with 2,470,000?

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 $2,470,000?

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$203,970$202,153$200,381$198,651$196,961$189,747
2 years$100,975$99,095$97,272$95,505$93,791$86,603
3 years$66,648$64,760$62,942$61,191$59,505$52,569
4 years$49,488$47,605$45,805$44,085$42,439$35,809
5 years$39,195$37,323$35,547$33,861$32,262$25,954
6 years$32,335$30,477$28,727$27,079$25,528$19,547
7 years$27,436$25,595$23,872$22,263$20,761$15,105
8 years$23,765$21,939$20,246$18,676$17,223$11,888
9 years$20,910$19,102$17,438$15,908$14,504$9,483
10 years$18,628$16,838$15,202$13,713$12,358$7,642
11 years$16,762$14,989$13,384$11,934$10,629$6,206
12 years$15,208$13,454$11,878$10,468$9,211$5,072
13 years$13,894$12,158$10,612$9,242$8,032$4,165
14 years$12,769$11,052$9,535$8,204$7,041$3,434
15 years$11,795$10,096$8,609$7,316$6,199$2,840
16 years$10,943$9,263$7,805$6,551$5,479$2,355
17 years$10,192$8,531$7,102$5,886$4,858$1,957
18 years$9,526$7,883$6,484$5,304$4,319$1,629
19 years$8,930$7,306$5,935$4,793$3,850$1,358
20 years$8,395$6,789$5,447$4,341$3,439$1,133
21 years$7,911$6,323$5,010$3,940$3,077$947
22 years$7,472$5,903$4,618$3,582$2,758$792
23 years$7,071$5,521$4,264$3,262$2,476$662
24 years$6,705$5,172$3,943$2,975$2,226$555
25 years$6,368$4,854$3,652$2,717$2,003$464
26 years$6,058$4,562$3,387$2,485$1,804$389
27 years$5,771$4,293$3,145$2,274$1,626$326
28 years$5,505$4,046$2,924$2,084$1,468$273
29 years$5,258$3,817$2,721$1,911$1,325$229
30 years$5,028$3,604$2,535$1,754$1,197$192
31 years$4,813$3,407$2,363$1,611$1,083$161
32 years$4,612$3,224$2,205$1,480$979$135
33 years$4,423$3,053$2,058$1,361$886$114
34 years$4,246$2,894$1,923$1,252$802$95
35 years$4,080$2,745$1,798$1,153$727$80
36 years$3,923$2,605$1,682$1,062$658$67
37 years$3,775$2,474$1,574$978$597$56
38 years$3,635$2,351$1,474$902$541$47
39 years$3,502$2,236$1,381$831$491$40
40 years$3,377$2,127$1,295$767$445$33
41 years$3,258$2,025$1,214$707$404$28
42 years$3,145$1,929$1,139$653$366$24
43 years$3,037$1,838$1,069$603$332$20
44 years$2,935$1,752$1,003$557$302$17
45 years$2,837$1,670$942$514$274$14
46 years$2,744$1,593$885$475$249$12
47 years$2,655$1,521$831$439$226$10
48 years$2,570$1,452$781$405$205$8
49 years$2,489$1,386$734$375$186$7
50 years$2,412$1,324$690$346$169$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,470,000, adding $4,987 every year, while hoping to spend $53,237 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: 64/24/12 Blend
70$2,470,000$2,470,000$2,470,000$2,470,000
71$2,727,084$2,596,174$2,557,889$2,893,783
72$2,948,603$2,666,743$2,586,935$3,076,393
73$3,190,932$2,738,985$2,615,169$3,269,137
74$3,456,139$2,812,927$2,642,509$3,478,337
75$3,746,498$2,888,593$2,668,866$3,705,594
76$4,064,516$2,966,009$2,694,147$3,952,670
77$4,412,951$3,045,199$2,718,256$4,221,505
78$4,794,843$3,126,185$2,741,089$4,514,236
79$5,213,540$3,208,990$2,762,537$4,833,215
80$5,672,726$3,293,635$2,782,488$5,181,034
81$6,176,462$3,380,142$2,800,819$5,560,547
82$6,729,221$3,468,528$2,817,406$5,974,897
83$7,335,928$3,558,813$2,832,116$6,427,547
84$8,002,009$3,651,011$2,844,809$6,922,311
85$8,733,442$3,745,139$2,855,338$7,463,389
86$9,536,811$3,841,209$2,863,550$8,055,410
87$10,419,369$3,939,231$2,869,282$8,703,473
88$11,389,107$4,039,216$2,872,365$9,413,195
89$12,454,828$4,141,169$2,872,621$10,190,763
90$13,626,228$4,245,094$2,869,862$11,042,996
91$14,913,994$4,350,994$2,863,892$11,977,405
92$16,329,895$4,458,867$2,854,506$13,002,266
93$17,886,900$4,568,707$2,841,488$14,126,699
94$19,599,298$4,680,507$2,824,612$15,360,750
95$21,482,830$4,794,256$2,803,640$16,715,490
96$23,554,841$4,909,937$2,778,324$18,203,117
97$25,834,441$5,027,530$2,748,404$19,837,072
98$28,342,686$5,147,011$2,713,608$21,632,166
99$31,102,775$5,268,350$2,673,649$23,604,719
100$34,140,272$5,391,513$2,628,230$25,772,713