Can I retire at age 71 with 2,520,000?

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 $2,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$208,099$206,246$204,437$202,672$200,948$199,515
2 years$103,019$101,101$99,241$97,438$95,690$94,244
3 years$67,997$66,070$64,216$62,430$60,709$59,297
4 years$50,490$48,569$46,733$44,977$43,299$41,929
5 years$39,988$38,079$36,266$34,547$32,915$31,593
6 years$32,989$31,094$29,309$27,627$26,044$24,772
7 years$27,992$26,113$24,356$22,714$21,181$19,959
8 years$24,246$22,383$20,655$19,054$17,572$16,400
9 years$21,333$19,489$17,791$16,230$14,798$13,675
10 years$19,005$17,178$15,510$13,990$12,609$11,535
11 years$17,101$15,293$13,655$12,176$10,844$9,819
12 years$15,516$13,726$12,118$10,680$9,397$8,419
13 years$14,175$12,404$10,827$9,429$8,194$7,263
14 years$13,027$11,275$9,728$8,370$7,183$6,297
15 years$12,033$10,300$8,783$7,464$6,325$5,483
16 years$11,165$9,450$7,963$6,683$5,590$4,790
17 years$10,399$8,703$7,246$6,005$4,956$4,198
18 years$9,719$8,042$6,615$5,412$4,407$3,689
19 years$9,111$7,453$6,056$4,890$3,928$3,249
20 years$8,565$6,926$5,558$4,429$3,508$2,867
21 years$8,071$6,451$5,112$4,019$3,140$2,534
22 years$7,623$6,022$4,711$3,655$2,814$2,243
23 years$7,214$5,632$4,350$3,328$2,526$1,988
24 years$6,840$5,277$4,023$3,036$2,271$1,764
25 years$6,497$4,952$3,726$2,772$2,043$1,567
26 years$6,180$4,654$3,456$2,535$1,840$1,393
27 years$5,888$4,380$3,209$2,320$1,659$1,239
28 years$5,617$4,128$2,983$2,126$1,497$1,103
29 years$5,364$3,894$2,776$1,949$1,352$983
30 years$5,130$3,677$2,586$1,789$1,222$876
31 years$4,910$3,476$2,411$1,643$1,104$781
32 years$4,705$3,289$2,249$1,510$999$697
33 years$4,513$3,115$2,100$1,389$904$622
34 years$4,332$2,952$1,962$1,278$819$555
35 years$4,162$2,800$1,835$1,176$741$496
36 years$4,002$2,658$1,716$1,083$672$443
37 years$3,851$2,524$1,606$998$609$396
38 years$3,708$2,399$1,504$920$552$354
39 years$3,573$2,281$1,409$848$501$316
40 years$3,445$2,170$1,321$782$454$283
41 years$3,324$2,066$1,239$722$412$253
42 years$3,208$1,968$1,162$666$374$226
43 years$3,099$1,875$1,090$615$339$202
44 years$2,994$1,787$1,023$568$308$181
45 years$2,895$1,704$961$524$280$162
46 years$2,800$1,626$903$484$254$145
47 years$2,709$1,551$848$447$230$129
48 years$2,622$1,481$797$414$209$116
49 years$2,540$1,414$749$382$190$104
50 years$2,460$1,351$704$353$173$93

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,520,000, adding $4,462 every year, while hoping to spend $31,235 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: 46/34/20 Blend
70$2,520,000$2,520,000$2,520,000$2,520,000
71$2,781,643$2,648,083$2,609,023$2,893,497
72$3,032,136$2,744,605$2,663,191$3,068,759
73$3,307,134$2,844,810$2,718,127$3,255,328
74$3,609,101$2,948,845$2,773,824$3,457,095
75$3,940,755$3,056,864$2,830,273$3,675,489
76$4,305,088$3,169,027$2,887,464$3,912,083
77$4,705,399$3,285,501$2,945,385$4,168,606
78$5,145,319$3,406,460$3,004,025$4,446,958
79$5,628,849$3,532,084$3,063,368$4,749,229
80$6,160,399$3,662,564$3,123,398$5,077,719
81$6,744,826$3,798,095$3,184,097$5,434,956
82$7,387,480$3,938,884$3,245,447$5,823,722
83$8,094,257$4,085,143$3,307,423$6,247,078
84$8,871,653$4,237,097$3,370,004$6,708,390
85$9,726,825$4,394,978$3,433,162$7,211,365
86$10,667,657$4,559,028$3,496,869$7,760,080
87$11,702,838$4,729,501$3,561,094$8,359,024
88$12,841,941$4,906,659$3,625,804$9,013,136
89$14,095,513$5,090,779$3,690,962$9,727,854
90$15,475,175$5,282,147$3,756,530$10,509,163
91$16,993,733$5,481,063$3,822,464$11,363,653
92$18,665,297$5,687,839$3,888,720$12,298,579
93$20,505,415$5,902,800$3,955,249$13,321,927
94$22,531,216$6,126,286$4,021,999$14,442,493
95$24,761,577$6,358,651$4,088,913$15,669,960
96$27,217,300$6,600,267$4,155,933$17,014,993
97$29,921,302$6,851,517$4,222,995$18,489,333
98$32,898,839$7,112,806$4,290,029$20,105,913
99$36,177,741$7,384,554$4,356,965$21,878,976
100$39,788,671$7,667,198$4,423,725$23,824,206