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

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 $2,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$224,615$222,614$220,662$218,757$216,897$214,900
2 years$111,196$109,125$107,118$105,172$103,284$101,272
3 years$73,394$71,314$69,312$67,384$65,528$63,563
4 years$54,497$52,423$50,442$48,547$46,735$44,833
5 years$43,162$41,101$39,145$37,289$35,527$33,693
6 years$35,607$33,562$31,635$29,820$28,111$26,348
7 years$30,213$28,185$26,289$24,517$22,862$21,170
8 years$26,170$24,160$22,295$20,566$18,966$17,345
9 years$23,027$21,035$19,203$17,518$15,972$14,421
10 years$20,513$18,542$16,741$15,101$13,609$12,128
11 years$18,458$16,507$14,739$13,142$11,704$10,292
12 years$16,747$14,815$13,080$11,527$10,143$8,797
13 years$15,300$13,389$11,686$10,177$8,845$7,565
14 years$14,061$12,170$10,500$9,034$7,753$6,537
15 years$12,988$11,118$9,480$8,057$6,827$5,672
16 years$12,051$10,200$8,595$7,214$6,033$4,939
17 years$11,224$9,394$7,821$6,482$5,350$4,314
18 years$10,490$8,680$7,140$5,841$4,757$3,777
19 years$9,834$8,045$6,536$5,278$4,240$3,315
20 years$9,244$7,476$5,999$4,780$3,787$2,914
21 years$8,712$6,963$5,518$4,338$3,389$2,566
22 years$8,228$6,500$5,085$3,945$3,038$2,263
23 years$7,787$6,079$4,695$3,592$2,727$1,998
24 years$7,383$5,696$4,342$3,277$2,451$1,766
25 years$7,013$5,345$4,022$2,992$2,205$1,563
26 years$6,671$5,024$3,730$2,736$1,987$1,384
27 years$6,355$4,728$3,464$2,504$1,791$1,226
28 years$6,062$4,455$3,220$2,295$1,616$1,088
29 years$5,790$4,203$2,997$2,104$1,459$965
30 years$5,537$3,969$2,791$1,931$1,319$857
31 years$5,300$3,752$2,602$1,774$1,192$761
32 years$5,079$3,550$2,428$1,630$1,078$676
33 years$4,871$3,362$2,267$1,499$976$601
34 years$4,676$3,187$2,118$1,379$884$534
35 years$4,493$3,023$1,980$1,270$800$475
36 years$4,320$2,869$1,852$1,169$725$422
37 years$4,157$2,725$1,734$1,077$657$376
38 years$4,003$2,589$1,624$993$596$334
39 years$3,857$2,462$1,521$916$540$298
40 years$3,719$2,343$1,426$844$490$265
41 years$3,588$2,230$1,337$779$445$236
42 years$3,463$2,124$1,254$719$403$210
43 years$3,345$2,024$1,177$664$366$187
44 years$3,232$1,929$1,105$613$332$167
45 years$3,124$1,839$1,037$566$302$148
46 years$3,022$1,755$974$523$274$132
47 years$2,924$1,674$915$483$249$118
48 years$2,831$1,599$860$446$226$105
49 years$2,741$1,526$808$412$205$93
50 years$2,656$1,458$760$381$186$83

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 $2,777 every year, while hoping to spend $53,517 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: 33/39/28 Blend
70$2,720,000$2,720,000$2,720,000$2,720,000
71$3,000,304$2,856,144$2,813,984$3,073,701
72$3,249,394$2,939,154$2,851,311$3,212,763
73$3,522,097$3,024,437$2,888,095$3,357,580
74$3,820,765$3,112,049$2,924,261$3,512,618
75$4,147,989$3,202,045$2,959,729$3,678,817
76$4,506,622$3,294,483$2,994,418$3,857,215
77$4,899,804$3,389,420$3,028,238$4,048,952
78$5,330,996$3,486,914$3,061,096$4,255,284
79$5,804,010$3,587,024$3,092,895$4,477,593
80$6,323,042$3,689,812$3,123,530$4,717,399
81$6,892,717$3,795,337$3,152,893$4,976,378
82$7,518,127$3,903,662$3,180,868$5,256,375
83$8,204,884$4,014,849$3,207,335$5,559,419
84$8,959,167$4,128,961$3,232,165$5,887,748
85$9,787,784$4,246,063$3,255,225$6,243,825
86$10,698,236$4,366,218$3,276,373$6,630,364
87$11,698,785$4,489,491$3,295,460$7,050,351
88$12,798,534$4,615,949$3,312,331$7,507,081
89$14,007,511$4,745,657$3,326,820$8,004,178
90$15,336,765$4,878,682$3,338,757$8,545,640
91$16,798,468$5,015,091$3,347,958$9,135,866
92$18,406,031$5,154,950$3,354,235$9,779,708
93$20,174,231$5,298,327$3,357,386$10,482,508
94$22,119,347$5,445,289$3,357,203$11,250,153
95$24,259,316$5,595,904$3,353,465$12,089,131
96$26,613,901$5,750,239$3,345,941$13,006,589
97$29,204,878$5,908,360$3,334,389$14,010,405
98$32,056,241$6,070,334$3,318,556$15,109,257
99$35,194,425$6,236,228$3,298,175$16,312,710
100$38,648,559$6,406,107$3,272,967$17,631,302