Can I retire at age 71 with 2,620,000?

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 $2,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$216,357$214,430$212,550$210,714$208,922$205,208
2 years$107,108$105,113$103,179$101,305$99,487$95,757
3 years$70,696$68,692$66,764$64,907$63,119$59,490
4 years$52,493$50,496$48,587$46,762$45,017$41,517
5 years$41,575$39,590$37,706$35,918$34,221$30,861
6 years$34,298$32,328$30,472$28,724$27,078$23,860
7 years$29,103$27,149$25,322$23,615$22,022$18,948
8 years$25,208$23,272$21,475$19,810$18,269$15,338
9 years$22,180$20,262$18,497$16,874$15,385$12,595
10 years$19,759$17,860$16,126$14,546$13,109$10,458
11 years$17,780$15,900$14,197$12,659$11,274$8,759
12 years$16,132$14,271$12,599$11,104$9,770$7,387
13 years$14,738$12,897$11,257$9,803$8,520$6,266
14 years$13,544$11,723$10,114$8,702$7,468$5,339
15 years$12,511$10,709$9,132$7,761$6,576$4,567
16 years$11,608$9,825$8,279$6,949$5,812$3,920
17 years$10,811$9,049$7,534$6,243$5,153$3,373
18 years$10,104$8,361$6,877$5,627$4,582$2,909
19 years$9,472$7,749$6,296$5,084$4,084$2,514
20 years$8,905$7,201$5,778$4,605$3,648$2,176
21 years$8,391$6,707$5,315$4,179$3,264$1,886
22 years$7,925$6,261$4,898$3,800$2,926$1,637
23 years$7,501$5,856$4,523$3,460$2,627$1,422
24 years$7,112$5,487$4,183$3,156$2,361$1,237
25 years$6,755$5,149$3,874$2,882$2,124$1,077
26 years$6,426$4,839$3,593$2,635$1,914$938
27 years$6,121$4,554$3,336$2,412$1,725$817
28 years$5,839$4,291$3,102$2,210$1,557$712
29 years$5,577$4,048$2,886$2,027$1,406$621
30 years$5,333$3,823$2,689$1,860$1,270$542
31 years$5,105$3,614$2,506$1,708$1,148$473
32 years$4,892$3,420$2,339$1,570$1,039$413
33 years$4,692$3,239$2,184$1,444$940$361
34 years$4,504$3,070$2,040$1,328$851$315
35 years$4,328$2,911$1,907$1,223$771$275
36 years$4,161$2,763$1,784$1,126$698$241
37 years$4,004$2,625$1,670$1,038$633$210
38 years$3,856$2,494$1,564$956$574$184
39 years$3,715$2,372$1,465$882$520$161
40 years$3,582$2,257$1,373$813$472$141
41 years$3,456$2,148$1,288$750$428$123
42 years$3,336$2,046$1,208$693$389$107
43 years$3,222$1,949$1,134$639$353$94
44 years$3,113$1,858$1,064$590$320$82
45 years$3,009$1,772$999$545$291$72
46 years$2,911$1,690$938$504$264$63
47 years$2,817$1,613$882$465$240$55
48 years$2,726$1,540$828$430$218$48
49 years$2,640$1,470$779$397$198$42
50 years$2,558$1,405$732$367$180$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,620,000, adding $3,596 every year, while hoping to spend $37,545 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: 50/30/20 Blend
70$2,620,000$2,620,000$2,620,000$2,620,000
71$2,890,949$2,752,089$2,711,479$3,019,190
72$3,145,879$2,846,994$2,762,366$3,203,201
73$3,425,552$2,945,291$2,813,700$3,398,937
74$3,732,455$3,047,106$2,865,455$3,610,874
75$4,069,322$3,152,572$2,917,605$3,840,554
76$4,439,169$3,261,824$2,970,120$4,089,676
77$4,845,316$3,375,005$3,022,971$4,360,109
78$5,291,420$3,492,262$3,076,123$4,653,906
79$5,781,512$3,613,749$3,129,539$4,973,329
80$6,320,029$3,739,626$3,183,182$5,320,867
81$6,911,862$3,870,058$3,237,009$5,699,257
82$7,562,399$4,005,218$3,290,975$6,111,512
83$8,277,575$4,145,284$3,345,034$6,560,951
84$9,063,928$4,290,444$3,399,134$7,051,224
85$9,928,664$4,440,891$3,453,220$7,586,351
86$10,879,720$4,596,827$3,507,235$8,170,757
87$11,925,841$4,758,461$3,561,116$8,809,314
88$13,076,662$4,926,011$3,614,800$9,507,386
89$14,342,801$5,099,705$3,668,214$10,270,880
90$15,735,953$5,279,777$3,721,286$11,106,300
91$17,269,008$5,466,474$3,773,937$12,020,809
92$18,956,166$5,660,051$3,826,084$13,022,295
93$20,813,075$5,860,773$3,877,637$14,119,444
94$22,856,975$6,068,917$3,928,504$15,321,825
95$25,106,863$6,284,770$3,978,585$16,639,974
96$27,583,671$6,508,632$4,027,776$18,085,499
97$30,310,465$6,740,815$4,075,966$19,671,183
98$33,312,660$6,981,642$4,123,039$21,411,108
99$36,618,260$7,231,451$4,168,869$23,320,786
100$40,258,124$7,490,594$4,213,328$25,417,304