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

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$240,305$238,165$236,076$234,038$232,047$225,524
2 years$118,963$116,747$114,600$112,518$110,499$103,976
3 years$78,521$76,296$74,154$72,091$70,105$63,787
4 years$58,304$56,085$53,965$51,938$49,999$43,935
5 years$46,177$43,972$41,879$39,893$38,009$32,215
6 years$38,095$35,906$33,845$31,903$30,075$24,557
7 years$32,324$30,154$28,125$26,229$24,459$19,217
8 years$27,998$25,847$23,852$22,003$20,291$15,322
9 years$24,635$22,505$20,544$18,742$17,088$12,387
10 years$21,946$19,837$17,911$16,156$14,560$10,121
11 years$19,748$17,660$15,768$14,060$12,522$8,337
12 years$17,917$15,850$13,994$12,333$10,851$6,914
13 years$16,369$14,324$12,503$10,888$9,463$5,763
14 years$15,044$13,020$11,234$9,665$8,295$4,824
15 years$13,896$11,894$10,142$8,620$7,303$4,053
16 years$12,892$10,913$9,196$7,718$6,455$3,414
17 years$12,008$10,050$8,368$6,934$5,723$2,883
18 years$11,223$9,287$7,639$6,249$5,089$2,440
19 years$10,521$8,607$6,993$5,647$4,536$2,068
20 years$9,890$7,998$6,418$5,114$4,051$1,755
21 years$9,320$7,450$5,903$4,641$3,626$1,492
22 years$8,803$6,954$5,441$4,220$3,250$1,269
23 years$8,331$6,504$5,023$3,843$2,917$1,080
24 years$7,899$6,094$4,646$3,505$2,622$920
25 years$7,502$5,719$4,303$3,201$2,359$784
26 years$7,137$5,375$3,991$2,927$2,125$669
27 years$6,799$5,058$3,706$2,679$1,916$571
28 years$6,486$4,766$3,445$2,455$1,729$487
29 years$6,195$4,497$3,206$2,251$1,561$416
30 years$5,924$4,246$2,986$2,066$1,411$355
31 years$5,670$4,014$2,784$1,897$1,275$304
32 years$5,433$3,798$2,597$1,744$1,154$259
33 years$5,211$3,597$2,425$1,604$1,044$222
34 years$5,003$3,409$2,266$1,475$945$189
35 years$4,807$3,234$2,119$1,358$856$162
36 years$4,622$3,069$1,982$1,251$776$138
37 years$4,447$2,915$1,855$1,152$703$118
38 years$4,282$2,770$1,737$1,062$637$101
39 years$4,126$2,634$1,627$979$578$87
40 years$3,978$2,506$1,525$903$524$74
41 years$3,838$2,386$1,430$834$476$63
42 years$3,705$2,272$1,342$769$432$54
43 years$3,578$2,165$1,259$710$392$46
44 years$3,457$2,064$1,182$656$356$40
45 years$3,343$1,968$1,110$606$323$34
46 years$3,233$1,877$1,042$559$293$29
47 years$3,128$1,791$979$517$266$25
48 years$3,028$1,710$920$477$242$21
49 years$2,933$1,633$865$441$219$18
50 years$2,841$1,560$813$408$199$16

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 $4,418 every year, while hoping to spend $48,027 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: 37/50/13 Blend
70$2,910,000$2,910,000$2,910,000$2,910,000
71$3,211,377$3,057,147$3,012,042$3,317,260
72$3,487,837$3,155,847$3,061,845$3,492,150
73$3,790,887$3,257,774$3,111,707$3,675,982
74$4,123,187$3,363,034$3,161,579$3,873,494
75$4,487,669$3,471,740$3,211,409$4,085,933
76$4,887,561$3,584,005$3,261,141$4,314,668
77$5,326,421$3,699,950$3,310,717$4,561,204
78$5,808,164$3,819,695$3,360,075$4,827,193
79$6,337,106$3,943,370$3,409,147$5,114,453
80$6,918,001$4,071,105$3,457,863$5,424,983
81$7,556,083$4,203,036$3,506,148$5,760,977
82$8,257,122$4,339,303$3,553,923$6,124,851
83$9,027,473$4,480,053$3,601,103$6,519,262
84$9,874,134$4,625,435$3,647,599$6,947,131
85$10,804,820$4,775,605$3,693,318$7,411,671
86$11,828,027$4,930,725$3,738,160$7,916,419
87$12,953,116$5,090,961$3,782,018$8,465,265
88$14,190,402$5,256,485$3,824,783$9,062,489
89$15,551,246$5,427,477$3,866,337$9,712,804
90$17,048,169$5,604,119$3,906,555$10,421,393
91$18,694,965$5,786,604$3,945,308$11,193,965
92$20,506,833$5,975,129$3,982,457$12,036,802
93$22,500,519$6,169,899$4,017,858$12,956,820
94$24,694,473$6,371,125$4,051,357$13,961,632
95$27,109,025$6,579,026$4,082,794$15,059,622
96$29,766,577$6,793,830$4,111,999$16,260,019
97$32,691,811$7,015,770$4,138,794$17,572,987
98$35,911,923$7,245,091$4,162,991$19,009,718
99$39,456,882$7,482,043$4,184,394$20,582,537
100$43,359,708$7,726,887$4,202,795$22,305,016