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%13.4%
1 years$209,751$207,882$206,060$204,280$202,543$199,681
2 years$103,837$101,903$100,029$98,212$96,449$93,571
3 years$68,537$66,595$64,725$62,925$61,191$58,387
4 years$50,891$48,954$47,103$45,334$43,642$40,933
5 years$40,305$38,381$36,554$34,821$33,176$30,570
6 years$33,251$31,341$29,541$27,847$26,251$23,751
7 years$28,214$26,320$24,549$22,894$21,349$18,956
8 years$24,438$22,561$20,819$19,205$17,711$15,425
9 years$21,503$19,643$17,932$16,359$14,915$12,735
10 years$19,156$17,315$15,633$14,101$12,709$10,632
11 years$17,237$15,414$13,763$12,272$10,930$8,955
12 years$15,639$13,835$12,215$10,765$9,472$7,597
13 years$14,288$12,503$10,913$9,503$8,259$6,481
14 years$13,131$11,365$9,805$8,436$7,240$5,557
15 years$12,129$10,382$8,853$7,524$6,375$4,783
16 years$11,253$9,525$8,026$6,737$5,634$4,130
17 years$10,481$8,772$7,304$6,053$4,996$3,577
18 years$9,796$8,106$6,667$5,455$4,442$3,105
19 years$9,183$7,513$6,104$4,929$3,959$2,701
20 years$8,633$6,981$5,602$4,464$3,536$2,354
21 years$8,135$6,503$5,152$4,051$3,165$2,054
22 years$7,683$6,070$4,749$3,684$2,837$1,795
23 years$7,272$5,677$4,385$3,355$2,546$1,571
24 years$6,895$5,319$4,055$3,060$2,289$1,376
25 years$6,549$4,992$3,756$2,794$2,059$1,206
26 years$6,229$4,691$3,483$2,555$1,855$1,058
27 years$5,934$4,415$3,235$2,339$1,673$928
28 years$5,661$4,160$3,007$2,143$1,509$815
29 years$5,407$3,925$2,798$1,965$1,363$716
30 years$5,170$3,707$2,606$1,803$1,231$630
31 years$4,949$3,504$2,430$1,656$1,113$554
32 years$4,743$3,315$2,267$1,522$1,007$487
33 years$4,549$3,140$2,117$1,400$911$429
34 years$4,367$2,976$1,978$1,288$825$377
35 years$4,195$2,822$1,849$1,185$747$332
36 years$4,034$2,679$1,730$1,092$677$292
37 years$3,882$2,544$1,619$1,006$614$258
38 years$3,738$2,418$1,516$927$556$227
39 years$3,602$2,299$1,421$855$505$200
40 years$3,473$2,188$1,331$789$458$176
41 years$3,350$2,082$1,248$728$415$155
42 years$3,234$1,983$1,171$671$377$137
43 years$3,123$1,890$1,099$620$342$121
44 years$3,018$1,801$1,032$572$310$106
45 years$2,918$1,718$969$529$282$94
46 years$2,822$1,639$910$488$256$83
47 years$2,731$1,564$855$451$232$73
48 years$2,643$1,493$803$417$211$64
49 years$2,560$1,425$755$385$192$57
50 years$2,480$1,362$710$356$174$50

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 $5,283 every year, while hoping to spend $24,836 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: 67/6/27 Blend
70$2,540,000$2,540,000$2,540,000$2,540,000
71$2,804,529$2,669,909$2,630,539$2,972,341
72$3,064,166$2,774,310$2,692,237$3,190,389
73$3,349,453$2,882,993$2,755,169$3,425,497
74$3,662,981$2,996,143$2,819,351$3,682,087
75$4,007,603$3,113,953$2,884,798$3,962,284
76$4,386,463$3,236,621$2,951,523$4,268,425
77$4,803,025$3,364,357$3,019,541$4,603,084
78$5,261,103$3,497,381$3,088,866$4,969,097
79$5,764,903$3,635,920$3,159,510$5,369,586
80$6,319,057$3,780,213$3,231,487$5,807,989
81$6,928,667$3,930,510$3,304,808$6,288,094
82$7,599,357$4,087,071$3,379,485$6,814,072
83$8,337,322$4,250,168$3,455,529$7,390,518
84$9,149,389$4,420,087$3,532,949$8,022,492
85$10,043,079$4,597,123$3,611,755$8,715,569
86$11,026,680$4,781,589$3,691,956$9,475,891
87$12,109,323$4,973,809$3,773,558$10,310,221
88$13,301,070$5,174,121$3,856,568$11,226,014
89$14,613,008$5,382,882$3,940,992$12,231,478
90$16,057,354$5,600,462$4,026,834$13,335,657
91$17,647,568$5,827,249$4,114,097$14,548,517
92$19,398,483$6,063,647$4,202,783$15,881,034
93$21,326,444$6,310,082$4,292,892$17,345,304
94$23,449,460$6,566,995$4,384,423$18,954,652
95$25,787,378$6,834,850$4,477,373$20,723,758
96$28,362,064$7,114,131$4,571,738$22,668,798
97$31,197,615$7,405,345$4,667,513$24,807,595
98$34,320,586$7,709,021$4,764,689$27,159,784
99$37,760,235$8,025,712$4,863,255$29,747,001
100$41,548,806$8,355,998$4,963,200$32,593,086