Can I retire at age 71 with 2,630,000?

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 $2,630,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$217,183$215,248$213,361$211,519$209,720$204,900
2 years$107,516$105,514$103,573$101,692$99,867$95,037
3 years$70,966$68,955$67,019$65,155$63,359$58,671
4 years$52,694$50,689$48,773$46,940$45,189$40,678
5 years$41,734$39,741$37,849$36,055$34,352$30,031
6 years$34,429$32,451$30,588$28,833$27,181$23,055
7 years$29,214$27,253$25,419$23,705$22,106$18,175
8 years$25,304$23,360$21,557$19,886$18,339$14,602
9 years$22,265$20,339$18,567$16,938$15,444$11,898
10 years$19,835$17,928$16,187$14,601$13,159$9,800
11 years$17,848$15,960$14,251$12,707$11,317$8,141
12 years$16,193$14,325$12,647$11,146$9,807$6,808
13 years$14,794$12,946$11,300$9,840$8,552$5,725
14 years$13,596$11,767$10,153$8,735$7,497$4,835
15 years$12,559$10,750$9,167$7,790$6,601$4,099
16 years$11,652$9,863$8,311$6,975$5,834$3,486
17 years$10,853$9,083$7,563$6,267$5,173$2,972
18 years$10,143$8,393$6,904$5,648$4,599$2,539
19 years$9,509$7,779$6,320$5,103$4,099$2,173
20 years$8,939$7,228$5,800$4,622$3,662$1,863
21 years$8,423$6,733$5,335$4,195$3,277$1,599
22 years$7,956$6,285$4,917$3,814$2,937$1,374
23 years$7,529$5,878$4,540$3,474$2,637$1,181
24 years$7,139$5,508$4,199$3,168$2,370$1,017
25 years$6,781$5,169$3,889$2,893$2,132$876
26 years$6,450$4,858$3,607$2,645$1,921$755
27 years$6,145$4,572$3,349$2,421$1,732$651
28 years$5,862$4,308$3,113$2,219$1,563$562
29 years$5,599$4,064$2,897$2,035$1,411$485
30 years$5,354$3,838$2,699$1,867$1,275$418
31 years$5,125$3,628$2,516$1,715$1,153$361
32 years$4,911$3,433$2,347$1,576$1,043$312
33 years$4,710$3,251$2,192$1,449$944$270
34 years$4,521$3,081$2,048$1,333$854$233
35 years$4,344$2,922$1,915$1,227$774$201
36 years$4,177$2,774$1,791$1,130$701$174
37 years$4,019$2,635$1,676$1,042$635$150
38 years$3,870$2,504$1,570$960$576$130
39 years$3,729$2,381$1,471$885$522$112
40 years$3,596$2,265$1,379$816$474$97
41 years$3,469$2,156$1,293$753$430$84
42 years$3,348$2,054$1,213$695$390$73
43 years$3,234$1,957$1,138$642$354$63
44 years$3,125$1,865$1,068$593$321$54
45 years$3,021$1,778$1,003$547$292$47
46 years$2,922$1,697$942$506$265$41
47 years$2,827$1,619$885$467$241$35
48 years$2,737$1,546$832$432$218$30
49 years$2,650$1,476$782$399$198$26
50 years$2,568$1,410$735$369$180$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,630,000, adding $6,996 every year, while hoping to spend $51,659 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: 32/41/27 Blend
70$2,630,000$2,630,000$2,630,000$2,630,000
71$2,905,476$2,766,086$2,725,321$2,974,295
72$3,146,870$2,846,660$2,761,655$3,108,054
73$3,411,155$2,929,450$2,797,474$3,246,960
74$3,700,610$3,014,511$2,832,707$3,395,560
75$4,017,748$3,101,898$2,867,279$3,554,740
76$4,365,334$3,191,666$2,901,108$3,725,479
77$4,746,414$3,283,873$2,934,111$3,908,850
78$5,164,342$3,378,577$2,966,197$4,106,038
79$5,622,813$3,475,835$2,997,273$4,318,343
80$6,125,896$3,575,708$3,027,238$4,547,200
81$6,678,076$3,678,256$3,055,989$4,794,185
82$7,284,289$3,783,539$3,083,414$5,061,035
83$7,949,974$3,891,621$3,109,396$5,349,663
84$8,681,125$4,002,563$3,133,814$5,662,175
85$9,484,340$4,116,429$3,156,537$6,000,890
86$10,366,892$4,233,284$3,177,431$6,368,362
87$11,336,792$4,353,192$3,196,352$6,767,403
88$12,402,865$4,476,218$3,213,149$7,201,113
89$13,574,833$4,602,429$3,227,666$7,672,905
90$14,863,409$4,731,891$3,239,735$8,186,537
91$16,280,393$4,864,670$3,249,183$8,746,153
92$17,838,789$5,000,835$3,255,827$9,356,315
93$19,552,922$5,140,452$3,259,473$10,022,051
94$21,438,575$5,283,589$3,259,921$10,748,900
95$23,513,140$5,430,315$3,256,958$11,542,965
96$25,795,777$5,580,697$3,250,363$12,410,970
97$28,307,598$5,734,803$3,239,902$13,360,324
98$31,071,866$5,892,701$3,225,331$14,399,192
99$34,114,211$6,054,458$3,206,394$15,536,570
100$37,462,875$6,220,141$3,182,823$16,782,371