Can I retire at age 71 with 2,740,000?

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$226,267$224,251$222,285$220,366$218,491$209,988
2 years$112,013$109,927$107,905$105,945$104,044$95,580
3 years$73,934$71,839$69,822$67,880$66,010$57,851
4 years$54,898$52,809$50,812$48,904$47,079$39,288
5 years$43,479$41,403$39,433$37,563$35,788$28,385
6 years$35,869$33,809$31,867$30,039$28,318$21,307
7 years$30,436$28,392$26,482$24,697$23,030$16,410
8 years$26,362$24,337$22,459$20,718$19,106$12,869
9 years$23,196$21,190$19,344$17,647$16,090$10,227
10 years$20,664$18,678$16,864$15,212$13,709$8,210
11 years$18,594$16,628$14,847$13,239$11,790$6,642
12 years$16,870$14,924$13,176$11,612$10,217$5,406
13 years$15,413$13,487$11,772$10,252$8,910$4,421
14 years$14,165$12,260$10,577$9,100$7,810$3,630
15 years$13,084$11,199$9,550$8,116$6,877$2,989
16 years$12,139$10,275$8,658$7,267$6,078$2,468
17 years$11,307$9,463$7,879$6,529$5,389$2,042
18 years$10,567$8,744$7,192$5,884$4,792$1,692
19 years$9,906$8,104$6,584$5,317$4,271$1,404
20 years$9,312$7,531$6,043$4,815$3,815$1,166
21 years$8,776$7,015$5,558$4,370$3,414$970
22 years$8,288$6,548$5,123$3,974$3,060$807
23 years$7,844$6,124$4,730$3,619$2,747$672
24 years$7,438$5,738$4,374$3,301$2,469$560
25 years$7,064$5,385$4,052$3,014$2,222$467
26 years$6,720$5,061$3,758$2,756$2,001$389
27 years$6,402$4,763$3,489$2,523$1,804$325
28 years$6,107$4,488$3,244$2,311$1,628$271
29 years$5,833$4,234$3,019$2,120$1,470$226
30 years$5,577$3,998$2,812$1,945$1,328$189
31 years$5,339$3,780$2,621$1,787$1,201$158
32 years$5,116$3,576$2,446$1,642$1,086$132
33 years$4,907$3,387$2,284$1,510$983$110
34 years$4,711$3,210$2,134$1,389$890$92
35 years$4,526$3,045$1,995$1,279$806$77
36 years$4,352$2,890$1,866$1,178$730$64
37 years$4,187$2,745$1,747$1,085$662$53
38 years$4,032$2,608$1,636$1,000$600$45
39 years$3,885$2,480$1,532$922$544$37
40 years$3,746$2,360$1,436$851$494$31
41 years$3,614$2,246$1,347$785$448$26
42 years$3,488$2,139$1,263$724$406$22
43 years$3,369$2,038$1,185$669$369$18
44 years$3,256$1,943$1,113$617$335$15
45 years$3,147$1,853$1,045$570$304$13
46 years$3,044$1,768$981$527$276$11
47 years$2,946$1,687$922$487$251$9
48 years$2,851$1,610$866$450$228$7
49 years$2,761$1,538$814$416$207$6
50 years$2,675$1,469$766$384$188$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,740,000, adding $5,339 every year, while hoping to spend $38,392 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: 70/21/9 Blend
70$2,740,000$2,740,000$2,740,000$2,740,000
71$3,024,987$2,879,767$2,837,297$3,231,304
72$3,292,687$2,980,027$2,891,498$3,468,862
73$3,586,406$3,083,913$2,946,227$3,723,521
74$3,908,756$3,191,562$3,001,463$4,001,146
75$4,262,617$3,303,116$3,057,180$4,303,988
76$4,651,160$3,418,725$3,113,352$4,634,522
77$5,077,878$3,538,542$3,169,948$4,995,474
78$5,546,618$3,662,727$3,226,938$5,389,845
79$6,061,620$3,791,447$3,284,288$5,820,939
80$6,627,553$3,924,876$3,341,959$6,292,392
81$7,249,563$4,063,194$3,399,914$6,808,211
82$7,933,316$4,206,589$3,458,109$7,372,804
83$8,685,057$4,355,255$3,516,499$7,991,026
84$9,511,667$4,509,396$3,575,035$8,668,226
85$10,420,723$4,669,222$3,633,665$9,410,293
86$11,420,578$4,834,955$3,692,334$10,223,710
87$12,520,431$5,006,822$3,750,981$11,115,621
88$13,730,421$5,185,062$3,809,545$12,093,892
89$15,061,716$5,369,922$3,867,956$13,167,188
90$16,526,622$5,561,660$3,926,145$14,345,052
91$18,138,701$5,760,545$3,984,034$15,637,997
92$19,912,892$5,966,855$4,041,543$17,057,602
93$21,865,659$6,180,882$4,098,586$18,616,622
94$24,015,139$6,402,929$4,155,071$20,329,109
95$26,381,320$6,633,310$4,210,904$22,210,541
96$28,986,226$6,872,353$4,265,980$24,277,970
97$31,854,124$7,120,401$4,320,193$26,550,181
98$35,011,754$7,377,810$4,373,429$29,047,869
99$38,488,579$7,644,949$4,425,565$31,793,834
100$42,317,069$7,922,206$4,476,476$34,813,195