Can I retire at age 71 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$240,305$238,165$236,076$234,038$232,047$230,973
2 years$118,963$116,747$114,600$112,518$110,499$109,414
3 years$78,521$76,296$74,154$72,091$70,105$69,043
4 years$58,304$56,085$53,965$51,938$49,999$48,970
5 years$46,177$43,972$41,879$39,893$38,009$37,014
6 years$38,095$35,906$33,845$31,903$30,075$29,116
7 years$32,324$30,154$28,125$26,229$24,459$23,536
8 years$27,998$25,847$23,852$22,003$20,291$19,405
9 years$24,635$22,505$20,544$18,742$17,088$16,238
10 years$21,946$19,837$17,911$16,156$14,560$13,746
11 years$19,748$17,660$15,768$14,060$12,522$11,744
12 years$17,917$15,850$13,994$12,333$10,851$10,108
13 years$16,369$14,324$12,503$10,888$9,463$8,753
14 years$15,044$13,020$11,234$9,665$8,295$7,619
15 years$13,896$11,894$10,142$8,620$7,303$6,660
16 years$12,892$10,913$9,196$7,718$6,455$5,843
17 years$12,008$10,050$8,368$6,934$5,723$5,142
18 years$11,223$9,287$7,639$6,249$5,089$4,537
19 years$10,521$8,607$6,993$5,647$4,536$4,013
20 years$9,890$7,998$6,418$5,114$4,051$3,556
21 years$9,320$7,450$5,903$4,641$3,626$3,157
22 years$8,803$6,954$5,441$4,220$3,250$2,807
23 years$8,331$6,504$5,023$3,843$2,917$2,500
24 years$7,899$6,094$4,646$3,505$2,622$2,228
25 years$7,502$5,719$4,303$3,201$2,359$1,988
26 years$7,137$5,375$3,991$2,927$2,125$1,776
27 years$6,799$5,058$3,706$2,679$1,916$1,587
28 years$6,486$4,766$3,445$2,455$1,729$1,420
29 years$6,195$4,497$3,206$2,251$1,561$1,271
30 years$5,924$4,246$2,986$2,066$1,411$1,138
31 years$5,670$4,014$2,784$1,897$1,275$1,020
32 years$5,433$3,798$2,597$1,744$1,154$915
33 years$5,211$3,597$2,425$1,604$1,044$820
34 years$5,003$3,409$2,266$1,475$945$736
35 years$4,807$3,234$2,119$1,358$856$661
36 years$4,622$3,069$1,982$1,251$776$593
37 years$4,447$2,915$1,855$1,152$703$533
38 years$4,282$2,770$1,737$1,062$637$478
39 years$4,126$2,634$1,627$979$578$430
40 years$3,978$2,506$1,525$903$524$386
41 years$3,838$2,386$1,430$834$476$347
42 years$3,705$2,272$1,342$769$432$312
43 years$3,578$2,165$1,259$710$392$280
44 years$3,457$2,064$1,182$656$356$252
45 years$3,343$1,968$1,110$606$323$227
46 years$3,233$1,877$1,042$559$293$204
47 years$3,128$1,791$979$517$266$183
48 years$3,028$1,710$920$477$242$165
49 years$2,933$1,633$865$441$219$148
50 years$2,841$1,560$813$408$199$133

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,910,000, adding $6,733 every year, while hoping to spend $47,333 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: 55/36/9 Blend
70$2,910,000$2,910,000$2,910,000$2,910,000
71$3,213,765$3,059,535$3,014,430$3,383,120
72$3,491,207$3,159,090$3,065,052$3,597,981
73$3,795,362$3,261,937$3,115,782$3,826,009
74$4,128,904$3,368,188$3,166,576$4,073,143
75$4,494,780$3,477,956$3,217,384$4,341,209
76$4,896,234$3,591,362$3,268,153$4,632,213
77$5,336,840$3,708,529$3,318,826$4,948,362
78$5,820,535$3,829,585$3,369,345$5,292,087
79$6,351,657$3,954,662$3,419,645$5,666,059
80$6,934,982$4,083,896$3,469,659$6,073,219
81$7,575,773$4,217,430$3,519,315$6,516,805
82$8,279,827$4,355,410$3,568,538$7,000,379
83$9,053,532$4,497,987$3,617,246$7,527,861
84$9,903,923$4,645,319$3,665,355$8,103,568
85$10,838,752$4,797,569$3,712,774$8,732,251
86$11,866,560$4,954,905$3,759,407$9,419,141
87$12,996,756$5,117,502$3,805,153$10,169,999
88$14,239,705$5,285,540$3,849,906$10,991,164
89$15,606,829$5,459,205$3,893,552$11,889,621
90$17,110,712$5,638,693$3,935,972$12,873,059
91$18,765,219$5,824,203$3,977,042$13,949,944
92$20,585,626$6,015,944$4,016,627$15,129,603
93$22,588,764$6,214,130$4,054,589$16,422,306
94$24,793,180$6,418,984$4,090,779$17,839,363
95$27,219,308$6,630,737$4,125,044$19,393,234
96$29,889,663$6,849,629$4,157,218$21,097,639
97$32,829,055$7,075,907$4,187,132$22,967,695
98$36,064,820$7,309,828$4,214,602$25,020,050
99$39,627,081$7,551,659$4,239,440$27,273,044
100$43,549,026$7,801,673$4,261,445$29,746,879