Can I retire at age 71 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$233,699$231,617$229,586$227,604$225,668$224,058
2 years$115,692$113,538$111,450$109,425$107,461$105,838
3 years$76,362$74,198$72,115$70,110$68,178$66,591
4 years$56,701$54,544$52,481$50,510$48,625$47,087
5 years$44,907$42,763$40,728$38,797$36,964$35,480
6 years$37,047$34,919$32,914$31,026$29,248$27,820
7 years$31,435$29,325$27,352$25,508$23,787$22,414
8 years$27,228$25,137$23,196$21,398$19,733$18,417
9 years$23,958$21,886$19,979$18,226$16,618$15,358
10 years$21,343$19,292$17,418$15,711$14,160$12,954
11 years$19,205$17,174$15,335$13,674$12,178$11,027
12 years$17,424$15,415$13,609$11,994$10,553$9,455
13 years$15,919$13,930$12,159$10,589$9,202$8,157
14 years$14,630$12,662$10,925$9,399$8,067$7,072
15 years$13,514$11,567$9,864$8,383$7,103$6,157
16 years$12,538$10,613$8,943$7,506$6,277$5,380
17 years$11,678$9,774$8,138$6,744$5,566$4,715
18 years$10,914$9,032$7,429$6,077$4,949$4,143
19 years$10,232$8,370$6,801$5,492$4,411$3,649
20 years$9,618$7,778$6,241$4,974$3,940$3,220
21 years$9,064$7,245$5,741$4,514$3,526$2,846
22 years$8,561$6,763$5,291$4,104$3,160$2,519
23 years$8,102$6,325$4,885$3,738$2,837$2,233
24 years$7,682$5,926$4,518$3,409$2,550$1,981
25 years$7,296$5,562$4,185$3,113$2,295$1,760
26 years$6,941$5,227$3,881$2,847$2,067$1,564
27 years$6,612$4,919$3,604$2,606$1,863$1,392
28 years$6,307$4,635$3,350$2,387$1,681$1,239
29 years$6,024$4,373$3,118$2,189$1,518$1,104
30 years$5,761$4,130$2,904$2,009$1,372$984
31 years$5,514$3,904$2,707$1,845$1,240$877
32 years$5,284$3,694$2,526$1,696$1,122$783
33 years$5,068$3,498$2,359$1,559$1,015$699
34 years$4,865$3,316$2,204$1,435$919$624
35 years$4,674$3,145$2,060$1,321$833$557
36 years$4,495$2,985$1,927$1,216$754$498
37 years$4,325$2,835$1,804$1,121$684$445
38 years$4,165$2,694$1,689$1,033$620$397
39 years$4,013$2,562$1,583$953$562$355
40 years$3,869$2,437$1,483$879$510$317
41 years$3,733$2,320$1,391$811$463$284
42 years$3,603$2,210$1,305$748$420$254
43 years$3,480$2,105$1,224$691$381$227
44 years$3,362$2,007$1,149$638$346$203
45 years$3,251$1,914$1,079$589$314$182
46 years$3,144$1,826$1,014$544$285$162
47 years$3,042$1,742$952$503$259$145
48 years$2,945$1,663$895$464$235$130
49 years$2,852$1,588$841$429$213$116
50 years$2,763$1,517$791$397$194$104

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,830,000, adding $4,540 every year, while hoping to spend $22,466 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: 34/50/16 Blend
70$2,830,000$2,830,000$2,830,000$2,830,000
71$3,123,343$2,973,353$2,929,488$3,213,896
72$3,418,020$3,095,144$3,003,722$3,402,305
73$3,742,002$3,222,149$3,079,690$3,602,919
74$4,098,253$3,354,601$3,157,427$3,818,775
75$4,490,040$3,492,742$3,236,966$4,051,229
76$4,920,963$3,636,826$3,318,343$4,301,769
77$5,394,988$3,787,117$3,401,595$4,572,026
78$5,916,485$3,943,893$3,486,756$4,863,789
79$6,490,267$4,107,444$3,573,862$5,179,018
80$7,121,639$4,278,074$3,662,952$5,519,868
81$7,816,446$4,456,100$3,754,061$5,888,701
82$8,581,128$4,641,853$3,847,226$6,288,110
83$9,422,781$4,835,682$3,942,486$6,720,942
84$10,349,223$5,037,949$4,039,878$7,190,324
85$11,369,070$5,249,035$4,139,440$7,699,689
86$12,491,815$5,469,337$4,241,211$8,252,809
87$13,727,917$5,699,271$4,345,229$8,853,827
88$15,088,902$5,939,274$4,451,532$9,507,298
89$16,587,472$6,189,799$4,560,160$10,218,225
90$18,237,619$6,451,325$4,671,150$10,992,109
91$20,054,766$6,724,350$4,784,544$11,834,994
92$22,055,905$7,009,395$4,900,378$12,753,529
93$24,259,759$7,307,008$5,018,693$13,755,022
94$26,686,963$7,617,759$5,139,527$14,847,510
95$29,360,251$7,942,248$5,262,920$16,039,833
96$32,304,679$8,281,100$5,388,909$17,341,711
97$35,547,853$8,634,970$5,517,535$18,763,841
98$39,120,195$9,004,546$5,648,834$20,317,985
99$43,055,230$9,390,544$5,782,845$22,017,089
100$47,389,900$9,793,716$5,919,606$23,875,394