Can I retire at age 71 with 2,880,000?

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$237,828$235,709$233,642$231,625$229,655$224,103
2 years$117,736$115,544$113,419$111,358$109,360$103,800
3 years$77,711$75,509$73,389$71,348$69,382$63,988
4 years$57,703$55,507$53,409$51,402$49,484$44,297
5 years$45,701$43,518$41,447$39,482$37,617$32,651
6 years$37,702$35,536$33,496$31,574$29,765$25,026
7 years$31,991$29,843$27,835$25,959$24,207$19,695
8 years$27,709$25,581$23,606$21,776$20,082$15,795
9 years$24,381$22,273$20,332$18,548$16,912$12,847
10 years$21,720$19,632$17,726$15,989$14,410$10,562
11 years$19,544$17,478$15,606$13,915$12,393$8,757
12 years$17,732$15,687$13,850$12,205$10,739$7,309
13 years$16,200$14,176$12,374$10,776$9,365$6,134
14 years$14,888$12,886$11,118$9,565$8,209$5,170
15 years$13,752$11,772$10,038$8,531$7,228$4,374
16 years$12,759$10,800$9,101$7,638$6,388$3,711
17 years$11,884$9,947$8,281$6,863$5,664$3,157
18 years$11,107$9,191$7,560$6,185$5,036$2,691
19 years$10,413$8,518$6,921$5,589$4,489$2,298
20 years$9,788$7,916$6,351$5,062$4,010$1,966
21 years$9,224$7,373$5,842$4,594$3,588$1,683
22 years$8,712$6,882$5,384$4,177$3,216$1,443
23 years$8,245$6,437$4,972$3,804$2,887$1,238
24 years$7,818$6,031$4,598$3,469$2,595$1,063
25 years$7,425$5,660$4,259$3,168$2,335$914
26 years$7,063$5,319$3,950$2,897$2,103$785
27 years$6,729$5,006$3,668$2,652$1,896$676
28 years$6,419$4,717$3,409$2,429$1,711$581
29 years$6,131$4,450$3,173$2,228$1,545$501
30 years$5,862$4,203$2,955$2,045$1,396$431
31 years$5,612$3,973$2,755$1,878$1,262$371
32 years$5,377$3,759$2,571$1,726$1,142$320
33 years$5,158$3,560$2,400$1,587$1,033$276
34 years$4,951$3,374$2,243$1,460$936$238
35 years$4,757$3,200$2,097$1,344$847$205
36 years$4,574$3,038$1,961$1,238$768$177
37 years$4,401$2,885$1,836$1,141$696$152
38 years$4,238$2,742$1,719$1,051$631$131
39 years$4,084$2,607$1,611$969$572$113
40 years$3,937$2,480$1,510$894$519$98
41 years$3,799$2,361$1,416$825$471$84
42 years$3,667$2,249$1,328$761$427$73
43 years$3,541$2,143$1,246$703$388$63
44 years$3,422$2,042$1,170$649$352$54
45 years$3,308$1,948$1,098$599$319$47
46 years$3,200$1,858$1,031$554$290$40
47 years$3,096$1,773$969$511$263$35
48 years$2,997$1,693$911$473$239$30
49 years$2,902$1,616$856$437$217$26
50 years$2,812$1,544$805$404$197$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,880,000, adding $2,963 every year, while hoping to spend $49,499 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: 34/49/17 Blend
70$2,880,000$2,880,000$2,880,000$2,880,000
71$3,176,816$3,024,176$2,979,536$3,268,039
72$3,448,185$3,119,694$3,026,684$3,430,684
73$3,745,574$3,218,234$3,073,753$3,601,137
74$4,071,586$3,319,891$3,120,687$3,783,896
75$4,429,086$3,424,763$3,167,428$3,980,075
76$4,821,230$3,532,954$3,213,914$4,190,899
77$5,251,495$3,644,568$3,260,079$4,417,714
78$5,723,709$3,759,714$3,305,853$4,661,996
79$6,242,091$3,878,503$3,351,163$4,925,372
80$6,811,286$4,001,052$3,395,929$5,209,627
81$7,436,414$4,127,480$3,440,069$5,516,727
82$8,123,111$4,257,909$3,483,495$5,848,832
83$8,877,589$4,392,468$3,526,112$6,208,317
84$9,706,691$4,531,286$3,567,824$6,597,798
85$10,617,953$4,674,499$3,608,527$7,020,149
86$11,619,682$4,822,247$3,648,110$7,478,535
87$12,721,026$4,974,673$3,686,458$7,976,438
88$13,932,065$5,131,927$3,723,449$8,517,689
89$15,263,906$5,294,161$3,758,954$9,106,507
90$16,728,783$5,461,534$3,792,838$9,747,533
91$18,340,179$5,634,209$3,824,958$10,445,877
92$20,112,946$5,812,355$3,855,164$11,207,165
93$22,063,451$5,996,144$3,883,296$12,037,592
94$24,209,726$6,185,758$3,909,189$12,943,975
95$26,571,638$6,381,380$3,932,667$13,933,824
96$29,171,079$6,583,202$3,953,545$15,015,408
97$32,032,171$6,791,421$3,971,631$16,197,831
98$35,181,493$7,006,241$3,986,721$17,491,121
99$38,648,329$7,227,871$3,998,600$18,906,322
100$42,464,950$7,456,528$4,007,045$20,455,596