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

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$237,828$235,709$233,642$231,625$229,655$228,399
2 years$117,736$115,544$113,419$111,358$109,360$108,092
3 years$77,711$75,509$73,389$71,348$69,382$68,143
4 years$57,703$55,507$53,409$51,402$49,484$48,282
5 years$45,701$43,518$41,447$39,482$37,617$36,456
6 years$37,702$35,536$33,496$31,574$29,765$28,647
7 years$31,991$29,843$27,835$25,959$24,207$23,131
8 years$27,709$25,581$23,606$21,776$20,082$19,050
9 years$24,381$22,273$20,332$18,548$16,912$15,922
10 years$21,720$19,632$17,726$15,989$14,410$13,463
11 years$19,544$17,478$15,606$13,915$12,393$11,487
12 years$17,732$15,687$13,850$12,205$10,739$9,875
13 years$16,200$14,176$12,374$10,776$9,365$8,541
14 years$14,888$12,886$11,118$9,565$8,209$7,424
15 years$13,752$11,772$10,038$8,531$7,228$6,481
16 years$12,759$10,800$9,101$7,638$6,388$5,678
17 years$11,884$9,947$8,281$6,863$5,664$4,990
18 years$11,107$9,191$7,560$6,185$5,036$4,397
19 years$10,413$8,518$6,921$5,589$4,489$3,884
20 years$9,788$7,916$6,351$5,062$4,010$3,437
21 years$9,224$7,373$5,842$4,594$3,588$3,047
22 years$8,712$6,882$5,384$4,177$3,216$2,705
23 years$8,245$6,437$4,972$3,804$2,887$2,405
24 years$7,818$6,031$4,598$3,469$2,595$2,140
25 years$7,425$5,660$4,259$3,168$2,335$1,907
26 years$7,063$5,319$3,950$2,897$2,103$1,701
27 years$6,729$5,006$3,668$2,652$1,896$1,518
28 years$6,419$4,717$3,409$2,429$1,711$1,356
29 years$6,131$4,450$3,173$2,228$1,545$1,212
30 years$5,862$4,203$2,955$2,045$1,396$1,083
31 years$5,612$3,973$2,755$1,878$1,262$969
32 years$5,377$3,759$2,571$1,726$1,142$868
33 years$5,158$3,560$2,400$1,587$1,033$777
34 years$4,951$3,374$2,243$1,460$936$696
35 years$4,757$3,200$2,097$1,344$847$623
36 years$4,574$3,038$1,961$1,238$768$559
37 years$4,401$2,885$1,836$1,141$696$501
38 years$4,238$2,742$1,719$1,051$631$449
39 years$4,084$2,607$1,611$969$572$403
40 years$3,937$2,480$1,510$894$519$361
41 years$3,799$2,361$1,416$825$471$324
42 years$3,667$2,249$1,328$761$427$291
43 years$3,541$2,143$1,246$703$388$261
44 years$3,422$2,042$1,170$649$352$234
45 years$3,308$1,948$1,098$599$319$210
46 years$3,200$1,858$1,031$554$290$189
47 years$3,096$1,773$969$511$263$170
48 years$2,997$1,693$911$473$239$152
49 years$2,902$1,616$856$437$217$137
50 years$2,812$1,544$805$404$197$123

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 $6,779 every year, while hoping to spend $40,288 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: 59/25/16 Blend
70$2,880,000$2,880,000$2,880,000$2,880,000
71$3,180,753$3,028,113$2,983,473$3,354,987
72$3,462,323$3,133,624$3,040,553$3,579,047
73$3,771,264$3,242,955$3,098,195$3,818,222
74$4,110,323$3,356,251$3,156,375$4,078,113
75$4,482,531$3,473,661$3,215,068$4,360,723
76$4,891,221$3,595,343$3,274,245$4,668,257
77$5,340,069$3,721,458$3,333,875$5,003,142
78$5,833,123$3,852,176$3,393,927$5,368,049
79$6,374,841$3,987,673$3,454,364$5,765,918
80$6,970,138$4,128,132$3,515,148$6,199,985
81$7,624,424$4,273,742$3,576,237$6,673,812
82$8,343,662$4,424,703$3,637,588$7,191,319
83$9,134,421$4,581,219$3,699,153$7,756,825
84$10,003,939$4,743,505$3,760,881$8,375,083
85$10,960,188$4,911,784$3,822,718$9,051,326
86$12,011,954$5,086,288$3,884,606$9,791,317
87$13,168,915$5,267,258$3,946,482$10,601,404
88$14,441,737$5,454,946$4,008,282$11,488,575
89$15,842,168$5,649,613$4,069,933$12,460,525
90$17,383,156$5,851,530$4,131,362$13,525,734
91$19,078,964$6,060,982$4,192,490$14,693,535
92$20,945,311$6,278,262$4,253,231$15,974,211
93$22,999,515$6,503,679$4,313,496$17,379,090
94$25,260,657$6,737,551$4,373,190$18,920,645
95$27,749,765$6,980,212$4,432,212$20,612,618
96$30,490,005$7,232,007$4,490,456$22,470,147
97$33,506,908$7,493,298$4,547,809$24,509,905
98$36,828,604$7,764,460$4,604,151$26,750,262
99$40,486,087$8,045,884$4,659,356$29,211,452
100$44,513,515$8,337,979$4,713,291$31,915,769