Can I retire at age 71 with 2,720,000?

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 $2,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$224,615$222,614$220,662$218,757$216,897$214,098
2 years$111,196$109,125$107,118$105,172$103,284$100,468
3 years$73,394$71,314$69,312$67,384$65,528$62,782
4 years$54,497$52,423$50,442$48,547$46,735$44,081
5 years$43,162$41,101$39,145$37,289$35,527$32,973
6 years$35,607$33,562$31,635$29,820$28,111$25,660
7 years$30,213$28,185$26,289$24,517$22,862$20,514
8 years$26,170$24,160$22,295$20,566$18,966$16,721
9 years$23,027$21,035$19,203$17,518$15,972$13,829
10 years$20,513$18,542$16,741$15,101$13,609$11,567
11 years$18,458$16,507$14,739$13,142$11,704$9,761
12 years$16,747$14,815$13,080$11,527$10,143$8,296
13 years$15,300$13,389$11,686$10,177$8,845$7,092
14 years$14,061$12,170$10,500$9,034$7,753$6,092
15 years$12,988$11,118$9,480$8,057$6,827$5,254
16 years$12,051$10,200$8,595$7,214$6,033$4,547
17 years$11,224$9,394$7,821$6,482$5,350$3,946
18 years$10,490$8,680$7,140$5,841$4,757$3,433
19 years$9,834$8,045$6,536$5,278$4,240$2,993
20 years$9,244$7,476$5,999$4,780$3,787$2,614
21 years$8,712$6,963$5,518$4,338$3,389$2,287
22 years$8,228$6,500$5,085$3,945$3,038$2,003
23 years$7,787$6,079$4,695$3,592$2,727$1,756
24 years$7,383$5,696$4,342$3,277$2,451$1,542
25 years$7,013$5,345$4,022$2,992$2,205$1,355
26 years$6,671$5,024$3,730$2,736$1,987$1,191
27 years$6,355$4,728$3,464$2,504$1,791$1,048
28 years$6,062$4,455$3,220$2,295$1,616$923
29 years$5,790$4,203$2,997$2,104$1,459$813
30 years$5,537$3,969$2,791$1,931$1,319$716
31 years$5,300$3,752$2,602$1,774$1,192$631
32 years$5,079$3,550$2,428$1,630$1,078$557
33 years$4,871$3,362$2,267$1,499$976$491
34 years$4,676$3,187$2,118$1,379$884$433
35 years$4,493$3,023$1,980$1,270$800$382
36 years$4,320$2,869$1,852$1,169$725$338
37 years$4,157$2,725$1,734$1,077$657$298
38 years$4,003$2,589$1,624$993$596$263
39 years$3,857$2,462$1,521$916$540$233
40 years$3,719$2,343$1,426$844$490$205
41 years$3,588$2,230$1,337$779$445$181
42 years$3,463$2,124$1,254$719$403$160
43 years$3,345$2,024$1,177$664$366$142
44 years$3,232$1,929$1,105$613$332$125
45 years$3,124$1,839$1,037$566$302$111
46 years$3,022$1,755$974$523$274$98
47 years$2,924$1,674$915$483$249$86
48 years$2,831$1,599$860$446$226$76
49 years$2,741$1,526$808$412$205$67
50 years$2,656$1,458$760$381$186$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,720,000, adding $6,767 every year, while hoping to spend $34,339 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: 46/43/11 Blend
70$2,720,000$2,720,000$2,720,000$2,720,000
71$3,004,420$2,860,260$2,818,100$3,133,054
72$3,274,335$2,963,876$2,875,970$3,326,315
73$3,570,629$3,071,419$2,934,628$3,531,773
74$3,895,959$3,183,044$2,994,063$3,753,882
75$4,253,248$3,298,914$3,054,265$3,994,196
76$4,645,717$3,419,199$3,115,221$4,254,424
77$5,076,915$3,544,075$3,176,916$4,536,441
78$5,550,751$3,673,725$3,239,334$4,842,312
79$6,071,533$3,808,343$3,302,456$5,174,304
80$6,644,004$3,948,126$3,366,263$5,534,910
81$7,273,392$4,093,284$3,430,733$5,926,870
82$7,965,456$4,244,033$3,495,841$6,353,201
83$8,726,542$4,400,600$3,561,560$6,817,217
84$9,563,639$4,563,219$3,627,863$7,322,564
85$10,484,451$4,732,137$3,694,716$7,873,256
86$11,497,463$4,907,610$3,762,087$8,473,705
87$12,612,025$5,089,904$3,829,938$9,128,767
88$13,838,440$5,279,298$3,898,230$9,843,787
89$15,188,059$5,476,082$3,966,919$10,624,643
90$16,673,390$5,680,558$4,035,959$11,477,809
91$18,308,213$5,893,043$4,105,300$12,410,406
92$20,107,713$6,113,864$4,174,890$13,430,274
93$22,088,622$6,343,366$4,244,671$14,546,044
94$24,269,376$6,581,905$4,314,583$15,767,216
95$26,670,290$6,829,857$4,384,559$17,104,250
96$29,313,749$7,087,609$4,454,531$18,568,659
97$32,224,417$7,355,568$4,524,424$20,173,123
98$35,429,475$7,634,158$4,594,160$21,931,602
99$38,958,872$7,923,822$4,663,654$23,859,467
100$42,845,607$8,225,020$4,732,817$25,973,646