Can I retire at age 71 with 2,540,000?

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 $2,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$209,751$207,882$206,060$204,280$202,543$197,087
2 years$103,837$101,903$100,029$98,212$96,449$90,991
3 years$68,537$66,595$64,725$62,925$61,191$55,902
4 years$50,891$48,954$47,103$45,334$43,642$38,563
5 years$40,305$38,381$36,554$34,821$33,176$28,320
6 years$33,251$31,341$29,541$27,847$26,251$21,624
7 years$28,214$26,320$24,549$22,894$21,349$16,950
8 years$24,438$22,561$20,819$19,205$17,711$13,538
9 years$21,503$19,643$17,932$16,359$14,915$10,965
10 years$19,156$17,315$15,633$14,101$12,709$8,976
11 years$17,237$15,414$13,763$12,272$10,930$7,409
12 years$15,639$13,835$12,215$10,765$9,472$6,155
13 years$14,288$12,503$10,913$9,503$8,259$5,141
14 years$13,131$11,365$9,805$8,436$7,240$4,313
15 years$12,129$10,382$8,853$7,524$6,375$3,631
16 years$11,253$9,525$8,026$6,737$5,634$3,065
17 years$10,481$8,772$7,304$6,053$4,996$2,594
18 years$9,796$8,106$6,667$5,455$4,442$2,200
19 years$9,183$7,513$6,104$4,929$3,959$1,869
20 years$8,633$6,981$5,602$4,464$3,536$1,590
21 years$8,135$6,503$5,152$4,051$3,165$1,354
22 years$7,683$6,070$4,749$3,684$2,837$1,155
23 years$7,272$5,677$4,385$3,355$2,546$985
24 years$6,895$5,319$4,055$3,060$2,289$841
25 years$6,549$4,992$3,756$2,794$2,059$719
26 years$6,229$4,691$3,483$2,555$1,855$615
27 years$5,934$4,415$3,235$2,339$1,673$526
28 years$5,661$4,160$3,007$2,143$1,509$450
29 years$5,407$3,925$2,798$1,965$1,363$385
30 years$5,170$3,707$2,606$1,803$1,231$330
31 years$4,949$3,504$2,430$1,656$1,113$282
32 years$4,743$3,315$2,267$1,522$1,007$242
33 years$4,549$3,140$2,117$1,400$911$207
34 years$4,367$2,976$1,978$1,288$825$178
35 years$4,195$2,822$1,849$1,185$747$152
36 years$4,034$2,679$1,730$1,092$677$130
37 years$3,882$2,544$1,619$1,006$614$112
38 years$3,738$2,418$1,516$927$556$96
39 years$3,602$2,299$1,421$855$505$82
40 years$3,473$2,188$1,331$789$458$70
41 years$3,350$2,082$1,248$728$415$60
42 years$3,234$1,983$1,171$671$377$52
43 years$3,123$1,890$1,099$620$342$44
44 years$3,018$1,801$1,032$572$310$38
45 years$2,918$1,718$969$529$282$33
46 years$2,822$1,639$910$488$256$28
47 years$2,731$1,564$855$451$232$24
48 years$2,643$1,493$803$417$211$21
49 years$2,560$1,425$755$385$192$18
50 years$2,480$1,362$710$356$174$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,540,000, adding $2,109 every year, while hoping to spend $25,954 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: 49/39/12 Blend
70$2,540,000$2,540,000$2,540,000$2,540,000
71$2,801,255$2,666,635$2,627,265$2,929,244
72$3,059,369$2,769,686$2,687,664$3,120,447
73$3,342,940$2,876,916$2,749,216$3,325,136
74$3,654,537$2,988,502$2,811,933$3,546,887
75$3,996,993$3,104,632$2,875,825$3,787,307
76$4,373,424$3,225,496$2,940,903$4,048,160
77$4,787,266$3,351,299$3,007,176$4,331,385
78$5,242,304$3,482,250$3,074,654$4,639,113
79$5,742,709$3,618,569$3,143,344$4,973,687
80$6,293,074$3,760,488$3,213,255$5,337,682
81$6,898,461$3,908,246$3,284,393$5,733,933
82$7,564,448$4,062,094$3,356,764$6,165,553
83$8,297,180$4,222,294$3,430,373$6,635,968
84$9,103,426$4,389,120$3,505,225$7,148,948
85$9,990,648$4,562,860$3,581,322$7,708,639
86$10,967,064$4,743,810$3,658,667$8,319,600
87$12,041,732$4,932,284$3,737,260$8,986,851
88$13,224,631$5,128,608$3,817,100$9,715,914
89$14,526,757$5,333,124$3,898,187$10,512,866
90$15,960,226$5,546,187$3,980,516$11,384,395
91$17,538,389$5,768,170$4,064,083$12,337,862
92$19,275,956$5,999,461$4,148,881$13,381,369
93$21,189,138$6,240,469$4,234,902$14,523,834
94$23,295,795$6,491,618$4,322,137$15,775,075
95$25,615,611$6,753,352$4,410,574$17,145,901
96$28,170,273$7,026,135$4,500,197$18,648,211
97$30,983,679$7,310,454$4,590,992$20,295,106
98$34,082,164$7,606,816$4,682,940$22,101,012
99$37,494,746$7,915,751$4,776,020$24,081,812
100$41,253,402$8,237,815$4,870,208$26,254,999