Can I retire at age 71 with 2,580,000?

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 $2,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$213,054$211,156$209,305$207,497$205,733$203,331
2 years$105,472$103,508$101,604$99,758$97,968$95,550
3 years$69,616$67,644$65,745$63,916$62,155$59,796
4 years$51,692$49,725$47,845$46,048$44,329$42,048
5 years$40,940$38,985$37,130$35,369$33,699$31,502
6 years$33,775$31,834$30,006$28,285$26,664$24,555
7 years$28,658$26,734$24,936$23,255$21,685$19,663
8 years$24,823$22,916$21,147$19,508$17,990$16,055
9 years$21,841$19,953$18,214$16,616$15,150$13,302
10 years$19,457$17,587$15,880$14,323$12,909$11,146
11 years$17,508$15,657$13,980$12,466$11,102$9,424
12 years$15,885$14,053$12,407$10,934$9,621$8,025
13 years$14,513$12,700$11,085$9,653$8,389$6,873
14 years$13,338$11,544$9,960$8,569$7,354$5,916
15 years$12,320$10,545$8,992$7,642$6,475$5,113
16 years$11,430$9,675$8,153$6,843$5,723$4,434
17 years$10,646$8,910$7,419$6,148$5,074$3,856
18 years$9,950$8,234$6,772$5,541$4,512$3,362
19 years$9,328$7,631$6,200$5,006$4,021$2,938
20 years$8,769$7,091$5,690$4,534$3,592$2,571
21 years$8,263$6,605$5,234$4,115$3,214$2,254
22 years$7,804$6,166$4,824$3,742$2,881$1,979
23 years$7,386$5,766$4,454$3,408$2,586$1,739
24 years$7,003$5,403$4,119$3,108$2,325$1,530
25 years$6,652$5,070$3,815$2,838$2,092$1,348
26 years$6,328$4,765$3,538$2,595$1,884$1,188
27 years$6,028$4,485$3,285$2,375$1,699$1,048
28 years$5,750$4,226$3,054$2,176$1,533$925
29 years$5,492$3,987$2,842$1,996$1,384$816
30 years$5,252$3,765$2,647$1,832$1,251$721
31 years$5,027$3,559$2,468$1,682$1,131$637
32 years$4,817$3,368$2,303$1,546$1,023$563
33 years$4,620$3,189$2,150$1,422$926$498
34 years$4,436$3,023$2,009$1,308$838$441
35 years$4,262$2,867$1,878$1,204$759$390
36 years$4,098$2,721$1,757$1,109$688$345
37 years$3,943$2,584$1,645$1,022$623$306
38 years$3,797$2,456$1,540$942$565$270
39 years$3,658$2,336$1,443$868$512$240
40 years$3,527$2,222$1,352$801$465$212
41 years$3,403$2,115$1,268$739$422$188
42 years$3,285$2,014$1,190$682$383$166
43 years$3,172$1,919$1,116$630$347$147
44 years$3,065$1,830$1,048$581$315$131
45 years$2,963$1,745$984$537$286$116
46 years$2,866$1,664$924$496$260$103
47 years$2,774$1,588$868$458$236$91
48 years$2,685$1,516$816$423$214$81
49 years$2,600$1,448$767$391$195$71
50 years$2,519$1,383$721$362$177$63

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,580,000, adding $2,898 every year, while hoping to spend $56,795 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: 56/25/19 Blend
70$2,580,000$2,580,000$2,580,000$2,580,000
71$2,846,149$2,709,409$2,669,419$2,990,912
72$3,076,027$2,781,741$2,698,415$3,162,240
73$3,327,449$2,855,713$2,726,479$3,342,452
74$3,602,552$2,931,347$2,753,520$3,537,517
75$3,903,691$3,008,661$2,779,441$3,748,875
76$4,233,456$3,087,674$2,804,141$3,978,109
77$4,594,703$3,168,405$2,827,514$4,226,966
78$4,990,574$3,250,868$2,849,447$4,497,367
79$5,424,531$3,335,079$2,869,822$4,791,430
80$5,900,386$3,421,051$2,888,515$5,111,486
81$6,422,340$3,508,796$2,905,394$5,460,104
82$6,995,016$3,598,325$2,920,322$5,840,115
83$7,623,509$3,689,644$2,933,154$6,254,635
84$8,313,431$3,782,761$2,943,739$6,707,101
85$9,070,964$3,877,679$2,951,917$7,201,297
86$9,902,916$3,974,399$2,957,520$7,741,392
87$10,816,788$4,072,920$2,960,372$8,331,981
88$11,820,845$4,173,237$2,960,289$8,978,125
89$12,924,189$4,275,343$2,957,076$9,685,404
90$14,136,848$4,379,227$2,950,530$10,459,963
91$15,469,873$4,484,875$2,940,439$11,308,576
92$16,935,434$4,592,269$2,926,578$12,238,705
93$18,546,943$4,701,385$2,908,714$13,258,575
94$20,319,176$4,812,196$2,886,599$14,377,250
95$22,268,409$4,924,672$2,859,978$15,604,715
96$24,412,580$5,038,774$2,828,581$16,951,978
97$26,771,450$5,154,460$2,792,125$18,431,167
98$29,366,791$5,271,682$2,750,314$20,055,648
99$32,222,593$5,390,384$2,702,839$21,840,151
100$35,365,289$5,510,504$2,649,376$23,800,908