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

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 $2,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$216,357$214,430$212,550$210,714$208,922$206,655
2 years$107,108$105,113$103,179$101,305$99,487$97,204
3 years$70,696$68,692$66,764$64,907$63,119$60,890
4 years$52,493$50,496$48,587$46,762$45,017$42,861
5 years$41,575$39,590$37,706$35,918$34,221$32,144
6 years$34,298$32,328$30,472$28,724$27,078$25,082
7 years$29,103$27,149$25,322$23,615$22,022$20,108
8 years$25,208$23,272$21,475$19,810$18,269$16,438
9 years$22,180$20,262$18,497$16,874$15,385$13,635
10 years$19,759$17,860$16,126$14,546$13,109$11,439
11 years$17,780$15,900$14,197$12,659$11,274$9,683
12 years$16,132$14,271$12,599$11,104$9,770$8,256
13 years$14,738$12,897$11,257$9,803$8,520$7,081
14 years$13,544$11,723$10,114$8,702$7,468$6,103
15 years$12,511$10,709$9,132$7,761$6,576$5,281
16 years$11,608$9,825$8,279$6,949$5,812$4,586
17 years$10,811$9,049$7,534$6,243$5,153$3,994
18 years$10,104$8,361$6,877$5,627$4,582$3,487
19 years$9,472$7,749$6,296$5,084$4,084$3,052
20 years$8,905$7,201$5,778$4,605$3,648$2,675
21 years$8,391$6,707$5,315$4,179$3,264$2,349
22 years$7,925$6,261$4,898$3,800$2,926$2,065
23 years$7,501$5,856$4,523$3,460$2,627$1,818
24 years$7,112$5,487$4,183$3,156$2,361$1,602
25 years$6,755$5,149$3,874$2,882$2,124$1,413
26 years$6,426$4,839$3,593$2,635$1,914$1,247
27 years$6,121$4,554$3,336$2,412$1,725$1,102
28 years$5,839$4,291$3,102$2,210$1,557$974
29 years$5,577$4,048$2,886$2,027$1,406$861
30 years$5,333$3,823$2,689$1,860$1,270$762
31 years$5,105$3,614$2,506$1,708$1,148$675
32 years$4,892$3,420$2,339$1,570$1,039$597
33 years$4,692$3,239$2,184$1,444$940$529
34 years$4,504$3,070$2,040$1,328$851$469
35 years$4,328$2,911$1,907$1,223$771$416
36 years$4,161$2,763$1,784$1,126$698$368
37 years$4,004$2,625$1,670$1,038$633$327
38 years$3,856$2,494$1,564$956$574$290
39 years$3,715$2,372$1,465$882$520$257
40 years$3,582$2,257$1,373$813$472$228
41 years$3,456$2,148$1,288$750$428$202
42 years$3,336$2,046$1,208$693$389$179
43 years$3,222$1,949$1,134$639$353$159
44 years$3,113$1,858$1,064$590$320$141
45 years$3,009$1,772$999$545$291$125
46 years$2,911$1,690$938$504$264$111
47 years$2,817$1,613$882$465$240$99
48 years$2,726$1,540$828$430$218$88
49 years$2,640$1,470$779$397$198$78
50 years$2,558$1,405$732$367$180$69

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 $6,945 every year, while hoping to spend $59,822 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: 68/10/22 Blend
70$2,620,000$2,620,000$2,620,000$2,620,000
71$2,894,404$2,755,544$2,714,934$3,074,717
72$3,125,983$2,826,915$2,742,234$3,267,727
73$3,379,178$2,899,779$2,768,444$3,471,228
74$3,656,131$2,974,145$2,793,463$3,692,424
75$3,959,200$3,050,021$2,817,188$3,933,059
76$4,290,981$3,127,415$2,839,506$4,195,056
77$4,654,334$3,206,332$2,860,303$4,480,531
78$5,052,408$3,286,774$2,879,455$4,791,815
79$5,488,671$3,368,743$2,896,834$5,131,480
80$5,966,941$3,452,237$2,912,303$5,502,356
81$6,491,425$3,537,253$2,925,722$5,907,562
82$7,066,756$3,623,784$2,936,939$6,350,536
83$7,698,036$3,711,821$2,945,798$6,835,065
84$8,390,888$3,801,351$2,952,134$7,365,322
85$9,151,501$3,892,360$2,955,773$7,945,907
86$9,986,695$3,984,828$2,956,533$8,581,886
87$10,903,985$4,078,731$2,954,223$9,278,844
88$11,911,646$4,174,043$2,948,644$10,042,935
89$13,018,794$4,270,732$2,939,584$10,880,940
90$14,235,475$4,368,762$2,926,824$11,800,331
91$15,572,754$4,468,091$2,910,133$12,809,345
92$17,042,820$4,568,673$2,889,268$13,917,056
93$18,659,106$4,670,455$2,863,976$15,133,466
94$20,436,406$4,773,380$2,833,991$16,469,597
95$22,391,025$4,877,381$2,799,035$17,937,596
96$24,540,923$4,982,386$2,758,816$19,550,848
97$26,905,890$5,088,316$2,713,030$21,324,106
98$29,507,731$5,195,082$2,661,356$23,273,627
99$32,370,468$5,302,590$2,603,460$25,417,328
100$35,520,572$5,410,734$2,538,992$27,774,955