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%11.8%
1 years$240,305$238,165$236,076$234,038$232,047$230,296
2 years$118,963$116,747$114,600$112,518$110,499$108,733
3 years$78,521$76,296$74,154$72,091$70,105$68,379
4 years$58,304$56,085$53,965$51,938$49,999$48,327
5 years$46,177$43,972$41,879$39,893$38,009$36,395
6 years$38,095$35,906$33,845$31,903$30,075$28,522
7 years$32,324$30,154$28,125$26,229$24,459$22,967
8 years$27,998$25,847$23,852$22,003$20,291$18,861
9 years$24,635$22,505$20,544$18,742$17,088$15,719
10 years$21,946$19,837$17,911$16,156$14,560$13,251
11 years$19,748$17,660$15,768$14,060$12,522$11,272
12 years$17,917$15,850$13,994$12,333$10,851$9,659
13 years$16,369$14,324$12,503$10,888$9,463$8,327
14 years$15,044$13,020$11,234$9,665$8,295$7,215
15 years$13,896$11,894$10,142$8,620$7,303$6,278
16 years$12,892$10,913$9,196$7,718$6,455$5,481
17 years$12,008$10,050$8,368$6,934$5,723$4,801
18 years$11,223$9,287$7,639$6,249$5,089$4,215
19 years$10,521$8,607$6,993$5,647$4,536$3,710
20 years$9,890$7,998$6,418$5,114$4,051$3,271
21 years$9,320$7,450$5,903$4,641$3,626$2,889
22 years$8,803$6,954$5,441$4,220$3,250$2,556
23 years$8,331$6,504$5,023$3,843$2,917$2,263
24 years$7,899$6,094$4,646$3,505$2,622$2,007
25 years$7,502$5,719$4,303$3,201$2,359$1,781
26 years$7,137$5,375$3,991$2,927$2,125$1,582
27 years$6,799$5,058$3,706$2,679$1,916$1,407
28 years$6,486$4,766$3,445$2,455$1,729$1,251
29 years$6,195$4,497$3,206$2,251$1,561$1,114
30 years$5,924$4,246$2,986$2,066$1,411$992
31 years$5,670$4,014$2,784$1,897$1,275$884
32 years$5,433$3,798$2,597$1,744$1,154$788
33 years$5,211$3,597$2,425$1,604$1,044$703
34 years$5,003$3,409$2,266$1,475$945$627
35 years$4,807$3,234$2,119$1,358$856$559
36 years$4,622$3,069$1,982$1,251$776$499
37 years$4,447$2,915$1,855$1,152$703$446
38 years$4,282$2,770$1,737$1,062$637$398
39 years$4,126$2,634$1,627$979$578$355
40 years$3,978$2,506$1,525$903$524$317
41 years$3,838$2,386$1,430$834$476$284
42 years$3,705$2,272$1,342$769$432$253
43 years$3,578$2,165$1,259$710$392$226
44 years$3,457$2,064$1,182$656$356$202
45 years$3,343$1,968$1,110$606$323$181
46 years$3,233$1,877$1,042$559$293$162
47 years$3,128$1,791$979$517$266$144
48 years$3,028$1,710$920$477$242$129
49 years$2,933$1,633$865$441$219$115
50 years$2,841$1,560$813$408$199$103

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 $5,313 every year, while hoping to spend $36,457 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: 44/42/14 Blend
70$2,910,000$2,910,000$2,910,000$2,910,000
71$3,212,300$3,058,070$3,012,965$3,340,466
72$3,501,165$3,169,126$3,075,110$3,541,557
73$3,818,272$3,284,401$3,138,114$3,755,306
74$4,166,464$3,404,065$3,201,969$3,986,186
75$4,548,871$3,528,291$3,266,662$4,235,791
76$4,968,942$3,657,264$3,332,182$4,505,872
77$5,430,477$3,791,174$3,398,514$4,798,354
78$5,937,663$3,930,218$3,465,640$5,115,350
79$6,495,109$4,074,603$3,533,544$5,459,187
80$7,107,897$4,224,545$3,602,205$5,832,418
81$7,781,623$4,380,269$3,671,599$6,237,853
82$8,522,454$4,542,007$3,741,703$6,678,583
83$9,337,183$4,710,005$3,812,489$7,158,004
84$10,233,297$4,884,516$3,883,928$7,679,854
85$11,219,041$5,065,805$3,955,987$8,248,245
86$12,303,502$5,254,148$4,028,632$8,867,698
87$13,496,692$5,449,834$4,101,824$9,543,190
88$14,809,641$5,653,163$4,175,522$10,280,195
89$16,254,505$5,864,448$4,249,682$11,084,740
90$17,844,675$6,084,016$4,324,257$11,963,454
91$19,594,906$6,312,208$4,399,194$12,923,635
92$21,521,458$6,549,378$4,474,439$13,973,316
93$23,642,247$6,795,897$4,549,933$15,121,338
94$25,977,013$7,052,153$4,625,612$16,377,435
95$28,547,507$7,318,547$4,701,409$17,752,321
96$31,377,698$7,595,501$4,777,251$19,257,793
97$34,493,996$7,883,454$4,853,062$20,906,839
98$37,925,504$8,182,863$4,928,760$22,713,761
99$41,704,289$8,494,207$5,004,257$24,694,306
100$45,865,687$8,817,984$5,079,460$26,865,813