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

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$233,699$231,617$229,586$227,604$225,668$220,661
2 years$115,692$113,538$111,450$109,425$107,461$102,442
3 years$76,362$74,198$72,115$70,110$68,178$63,304
4 years$56,701$54,544$52,481$50,510$48,625$43,934
5 years$44,907$42,763$40,728$38,797$36,964$32,469
6 years$37,047$34,919$32,914$31,026$29,248$24,954
7 years$31,435$29,325$27,352$25,508$23,787$19,694
8 years$27,228$25,137$23,196$21,398$19,733$15,841
9 years$23,958$21,886$19,979$18,226$16,618$12,923
10 years$21,343$19,292$17,418$15,711$14,160$10,658
11 years$19,205$17,174$15,335$13,674$12,178$8,864
12 years$17,424$15,415$13,609$11,994$10,553$7,423
13 years$15,919$13,930$12,159$10,589$9,202$6,250
14 years$14,630$12,662$10,925$9,399$8,067$5,286
15 years$13,514$11,567$9,864$8,383$7,103$4,488
16 years$12,538$10,613$8,943$7,506$6,277$3,822
17 years$11,678$9,774$8,138$6,744$5,566$3,263
18 years$10,914$9,032$7,429$6,077$4,949$2,791
19 years$10,232$8,370$6,801$5,492$4,411$2,393
20 years$9,618$7,778$6,241$4,974$3,940$2,054
21 years$9,064$7,245$5,741$4,514$3,526$1,766
22 years$8,561$6,763$5,291$4,104$3,160$1,520
23 years$8,102$6,325$4,885$3,738$2,837$1,309
24 years$7,682$5,926$4,518$3,409$2,550$1,128
25 years$7,296$5,562$4,185$3,113$2,295$974
26 years$6,941$5,227$3,881$2,847$2,067$840
27 years$6,612$4,919$3,604$2,606$1,863$726
28 years$6,307$4,635$3,350$2,387$1,681$627
29 years$6,024$4,373$3,118$2,189$1,518$542
30 years$5,761$4,130$2,904$2,009$1,372$469
31 years$5,514$3,904$2,707$1,845$1,240$406
32 years$5,284$3,694$2,526$1,696$1,122$351
33 years$5,068$3,498$2,359$1,559$1,015$304
34 years$4,865$3,316$2,204$1,435$919$263
35 years$4,674$3,145$2,060$1,321$833$227
36 years$4,495$2,985$1,927$1,216$754$197
37 years$4,325$2,835$1,804$1,121$684$171
38 years$4,165$2,694$1,689$1,033$620$148
39 years$4,013$2,562$1,583$953$562$128
40 years$3,869$2,437$1,483$879$510$111
41 years$3,733$2,320$1,391$811$463$96
42 years$3,603$2,210$1,305$748$420$83
43 years$3,480$2,105$1,224$691$381$72
44 years$3,362$2,007$1,149$638$346$62
45 years$3,251$1,914$1,079$589$314$54
46 years$3,144$1,826$1,014$544$285$47
47 years$3,042$1,742$952$503$259$41
48 years$2,945$1,663$895$464$235$35
49 years$2,852$1,588$841$429$213$30
50 years$2,763$1,517$791$397$194$26

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 $5,899 every year, while hoping to spend $29,781 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: 82/7/11 Blend
70$2,830,000$2,830,000$2,830,000$2,830,000
71$3,124,745$2,974,755$2,930,890$3,374,727
72$3,411,782$3,088,831$2,997,388$3,653,469
73$3,727,099$3,207,499$3,065,115$3,954,906
74$4,073,549$3,330,952$3,134,082$4,284,971
75$4,454,274$3,459,392$3,204,298$4,646,520
76$4,872,738$3,593,030$3,275,770$5,042,699
77$5,332,755$3,732,087$3,348,506$5,476,971
78$5,838,529$3,876,792$3,422,514$5,953,154
79$6,394,689$4,027,385$3,497,798$6,475,448
80$7,006,338$4,184,117$3,574,364$7,048,484
81$7,679,095$4,347,249$3,652,217$7,677,360
82$8,419,154$4,517,056$3,731,357$8,367,693
83$9,233,338$4,693,822$3,811,788$9,125,669
84$10,129,165$4,877,846$3,893,509$9,958,105
85$11,114,918$5,069,439$3,976,520$10,872,508
86$12,199,724$5,268,925$4,060,818$11,877,150
87$13,393,640$5,476,646$4,146,399$12,981,141
88$14,707,745$5,692,956$4,233,258$14,194,522
89$16,154,250$5,918,226$4,321,387$15,528,351
90$17,746,607$6,152,843$4,410,777$16,994,812
91$19,499,641$6,397,211$4,501,417$18,607,330
92$21,429,684$6,651,755$4,593,295$20,380,694
93$23,554,736$6,916,915$4,686,394$22,331,199
94$25,894,629$7,193,153$4,780,698$24,476,799
95$28,471,216$7,480,953$4,876,186$26,837,274
96$31,308,578$7,780,817$4,972,836$29,434,419
97$34,433,249$8,093,274$5,070,623$32,292,249
98$37,874,470$8,418,874$5,169,519$35,437,222
99$41,664,460$8,758,193$5,269,491$38,898,493
100$45,838,723$9,111,832$5,370,507$42,708,185