Can I retire at age 71 with 2,820,000?

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 $2,820,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$232,873$230,799$228,775$226,800$224,871$217,065
2 years$115,284$113,137$111,056$109,038$107,081$99,298
3 years$76,092$73,936$71,860$69,862$67,937$60,420
4 years$56,501$54,351$52,296$50,332$48,453$41,261
5 years$44,748$42,612$40,584$38,659$36,833$29,984
6 years$36,916$34,796$32,798$30,916$29,145$22,644
7 years$31,324$29,221$27,255$25,418$23,703$17,549
8 years$27,132$25,048$23,114$21,323$19,664$13,853
9 years$23,873$21,809$19,909$18,162$16,560$11,084
10 years$21,267$19,223$17,357$15,656$14,110$8,960
11 years$19,137$17,113$15,281$13,625$12,135$7,301
12 years$17,363$15,360$13,561$11,951$10,516$5,986
13 years$15,863$13,881$12,116$10,551$9,170$4,932
14 years$14,578$12,618$10,886$9,366$8,038$4,081
15 years$13,466$11,526$9,829$8,353$7,078$3,387
16 years$12,494$10,575$8,911$7,479$6,255$2,819
17 years$11,637$9,739$8,109$6,720$5,546$2,351
18 years$10,876$9,000$7,402$6,056$4,931$1,964
19 years$10,196$8,341$6,777$5,472$4,396$1,644
20 years$9,584$7,751$6,219$4,956$3,926$1,377
21 years$9,032$7,219$5,720$4,498$3,513$1,155
22 years$8,530$6,739$5,272$4,090$3,149$969
23 years$8,073$6,303$4,868$3,725$2,827$814
24 years$7,655$5,905$4,502$3,397$2,541$684
25 years$7,270$5,542$4,170$3,102$2,287$576
26 years$6,916$5,209$3,867$2,837$2,060$484
27 years$6,589$4,902$3,591$2,596$1,857$408
28 years$6,285$4,619$3,338$2,379$1,676$343
29 years$6,003$4,357$3,107$2,181$1,513$289
30 years$5,740$4,115$2,894$2,002$1,367$243
31 years$5,495$3,890$2,698$1,839$1,236$205
32 years$5,265$3,681$2,517$1,690$1,118$173
33 years$5,050$3,486$2,350$1,554$1,012$146
34 years$4,848$3,304$2,196$1,430$916$123
35 years$4,658$3,134$2,053$1,316$830$103
36 years$4,479$2,974$1,921$1,212$752$87
37 years$4,310$2,825$1,798$1,117$681$73
38 years$4,150$2,685$1,683$1,029$618$62
39 years$3,999$2,553$1,577$949$560$52
40 years$3,855$2,429$1,478$875$508$44
41 years$3,719$2,312$1,386$808$461$37
42 years$3,590$2,202$1,300$745$418$31
43 years$3,467$2,098$1,220$688$380$26
44 years$3,351$2,000$1,145$635$345$22
45 years$3,239$1,907$1,075$587$313$19
46 years$3,133$1,819$1,010$542$284$16
47 years$3,032$1,736$949$501$258$13
48 years$2,935$1,657$892$463$234$11
49 years$2,842$1,583$838$428$213$9
50 years$2,753$1,512$788$395$193$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,820,000, adding $6,816 every year, while hoping to spend $29,583 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: 40/37/23 Blend
70$2,820,000$2,820,000$2,820,000$2,820,000
71$3,114,671$2,965,211$2,921,501$3,217,821
72$3,400,891$3,079,030$2,987,895$3,406,512
73$3,715,314$3,197,435$3,055,522$3,607,207
74$4,060,786$3,320,619$3,124,391$3,823,741
75$4,440,441$3,448,784$3,194,513$4,057,577
76$4,857,733$3,582,141$3,265,896$4,310,319
77$5,316,465$3,720,910$3,338,548$4,583,733
78$5,820,831$3,865,321$3,412,475$4,879,758
79$6,375,448$4,015,614$3,487,685$5,200,524
80$6,985,404$4,172,039$3,564,183$5,548,372
81$7,656,304$4,334,858$3,641,972$5,925,875
82$8,394,326$4,504,345$3,721,057$6,335,864
83$9,206,274$4,680,784$3,801,439$6,781,450
84$10,099,646$4,864,475$3,883,120$7,266,053
85$11,082,704$5,055,728$3,966,098$7,793,435
86$12,164,549$5,254,868$4,050,372$8,367,736
87$13,355,212$5,462,236$4,135,938$8,993,508
88$14,665,744$5,678,185$4,222,792$9,675,758
89$16,108,322$5,903,088$4,310,927$10,419,996
90$17,696,362$6,137,331$4,400,335$11,232,286
91$19,444,650$6,381,320$4,491,006$12,119,299
92$21,369,476$6,635,476$4,582,926$13,088,377
93$23,488,791$6,900,243$4,676,082$14,147,601
94$25,822,374$7,176,081$4,770,458$15,305,866
95$28,392,021$7,463,474$4,866,033$16,572,962
96$31,221,749$7,762,925$4,962,786$17,959,665
97$34,338,021$8,074,963$5,060,694$19,477,842
98$37,770,001$8,400,137$5,159,728$21,140,553
99$41,549,822$8,739,025$5,259,860$22,962,180
100$45,712,893$9,092,227$5,361,055$24,958,557