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%12.3%
1 years$226,267$224,251$222,285$220,366$218,491$216,390
2 years$112,013$109,927$107,905$105,945$104,044$101,926
3 years$73,934$71,839$69,822$67,880$66,010$63,943
4 years$54,898$52,809$50,812$48,904$47,079$45,078
5 years$43,479$41,403$39,433$37,563$35,788$33,859
6 years$35,869$33,809$31,867$30,039$28,318$26,464
7 years$30,436$28,392$26,482$24,697$23,030$21,251
8 years$26,362$24,337$22,459$20,718$19,106$17,402
9 years$23,196$21,190$19,344$17,647$16,090$14,460
10 years$20,664$18,678$16,864$15,212$13,709$12,153
11 years$18,594$16,628$14,847$13,239$11,790$10,307
12 years$16,870$14,924$13,176$11,612$10,217$8,804
13 years$15,413$13,487$11,772$10,252$8,910$7,566
14 years$14,165$12,260$10,577$9,100$7,810$6,534
15 years$13,084$11,199$9,550$8,116$6,877$5,666
16 years$12,139$10,275$8,658$7,267$6,078$4,930
17 years$11,307$9,463$7,879$6,529$5,389$4,303
18 years$10,567$8,744$7,192$5,884$4,792$3,765
19 years$9,906$8,104$6,584$5,317$4,271$3,301
20 years$9,312$7,531$6,043$4,815$3,815$2,900
21 years$8,776$7,015$5,558$4,370$3,414$2,552
22 years$8,288$6,548$5,123$3,974$3,060$2,249
23 years$7,844$6,124$4,730$3,619$2,747$1,984
24 years$7,438$5,738$4,374$3,301$2,469$1,753
25 years$7,064$5,385$4,052$3,014$2,222$1,550
26 years$6,720$5,061$3,758$2,756$2,001$1,371
27 years$6,402$4,763$3,489$2,523$1,804$1,214
28 years$6,107$4,488$3,244$2,311$1,628$1,076
29 years$5,833$4,234$3,019$2,120$1,470$954
30 years$5,577$3,998$2,812$1,945$1,328$846
31 years$5,339$3,780$2,621$1,787$1,201$751
32 years$5,116$3,576$2,446$1,642$1,086$666
33 years$4,907$3,387$2,284$1,510$983$592
34 years$4,711$3,210$2,134$1,389$890$526
35 years$4,526$3,045$1,995$1,279$806$467
36 years$4,352$2,890$1,866$1,178$730$415
37 years$4,187$2,745$1,747$1,085$662$369
38 years$4,032$2,608$1,636$1,000$600$328
39 years$3,885$2,480$1,532$922$544$292
40 years$3,746$2,360$1,436$851$494$260
41 years$3,614$2,246$1,347$785$448$231
42 years$3,488$2,139$1,263$724$406$205
43 years$3,369$2,038$1,185$669$369$183
44 years$3,256$1,943$1,113$617$335$163
45 years$3,147$1,853$1,045$570$304$145
46 years$3,044$1,768$981$527$276$129
47 years$2,946$1,687$922$487$251$115
48 years$2,851$1,610$866$450$228$102
49 years$2,761$1,538$814$416$207$91
50 years$2,675$1,469$766$384$188$81

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 $4,590 every year, while hoping to spend $32,011 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: 62/28/10 Blend
70$2,740,000$2,740,000$2,740,000$2,740,000
71$3,024,215$2,878,995$2,836,525$3,204,657
72$3,298,625$2,986,006$2,897,489$3,432,993
73$3,599,952$3,097,188$2,959,422$3,678,015
74$3,930,909$3,212,711$3,022,324$3,944,659
75$4,294,481$3,332,753$3,086,191$4,235,017
76$4,693,960$3,457,500$3,151,021$4,551,393
77$5,132,971$3,587,145$3,216,807$4,896,319
78$5,615,509$3,721,890$3,283,545$5,272,583
79$6,145,973$3,861,945$3,351,226$5,683,253
80$6,729,211$4,007,529$3,419,841$6,131,704
81$7,370,565$4,158,872$3,489,380$6,621,652
82$8,075,919$4,316,213$3,559,830$7,157,187
83$8,851,755$4,479,801$3,631,178$7,742,810
84$9,705,218$4,649,895$3,703,406$8,383,476
85$10,644,178$4,826,767$3,776,497$9,084,641
86$11,677,306$5,010,700$3,850,432$9,852,310
87$12,814,156$5,201,990$3,925,187$10,693,096
88$14,065,257$5,400,944$4,000,737$11,614,281
89$15,442,209$5,607,885$4,077,057$12,623,881
90$16,957,791$5,823,149$4,154,115$13,730,724
91$18,626,088$6,047,085$4,231,880$14,944,534
92$20,462,617$6,280,061$4,310,317$16,276,015
93$22,484,477$6,522,457$4,389,385$17,736,959
94$24,710,509$6,774,673$4,469,045$19,340,352
95$27,161,474$7,037,124$4,549,251$21,100,497
96$29,860,247$7,310,247$4,629,954$23,033,145
97$32,832,037$7,594,494$4,711,102$25,155,648
98$36,104,620$7,890,339$4,792,640$27,487,117
99$39,708,604$8,198,278$4,874,505$30,048,604
100$43,677,715$8,518,827$4,956,635$32,863,299