Can I retire at age 71 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$241,131$238,983$236,887$234,842$232,845$231,474
2 years$119,372$117,149$114,994$112,905$110,879$109,496
3 years$78,791$76,558$74,409$72,339$70,346$68,994
4 years$58,504$56,278$54,150$52,116$50,171$48,860
5 years$46,335$44,123$42,023$40,030$38,139$36,873
6 years$38,225$36,030$33,961$32,013$30,178$28,959
7 years$32,435$30,258$28,222$26,319$24,543$23,371
8 years$28,094$25,936$23,934$22,079$20,361$19,236
9 years$24,720$22,582$20,614$18,806$17,147$16,069
10 years$22,022$19,905$17,972$16,211$14,610$13,578
11 years$19,816$17,720$15,822$14,108$12,565$11,579
12 years$17,979$15,905$14,042$12,375$10,889$9,947
13 years$16,425$14,373$12,546$10,925$9,495$8,598
14 years$15,095$13,065$11,272$9,698$8,323$7,469
15 years$13,944$11,935$10,177$8,649$7,329$6,516
16 years$12,937$10,950$9,227$7,744$6,477$5,705
17 years$12,049$10,085$8,396$6,958$5,743$5,010
18 years$11,261$9,319$7,665$6,271$5,106$4,412
19 years$10,557$8,637$7,017$5,666$4,551$3,894
20 years$9,924$8,025$6,440$5,132$4,065$3,443
21 years$9,352$7,475$5,923$4,657$3,638$3,050
22 years$8,833$6,978$5,459$4,235$3,261$2,706
23 years$8,360$6,526$5,041$3,857$2,927$2,404
24 years$7,926$6,115$4,662$3,517$2,631$2,138
25 years$7,528$5,738$4,318$3,212$2,368$1,903
26 years$7,161$5,393$4,004$2,937$2,133$1,696
27 years$6,822$5,076$3,718$2,688$1,923$1,513
28 years$6,508$4,783$3,457$2,463$1,735$1,350
29 years$6,216$4,512$3,217$2,259$1,567$1,205
30 years$5,944$4,261$2,996$2,073$1,416$1,077
31 years$5,690$4,028$2,793$1,904$1,280$963
32 years$5,452$3,811$2,606$1,750$1,158$861
33 years$5,229$3,609$2,434$1,609$1,048$770
34 years$5,020$3,421$2,274$1,480$949$689
35 years$4,823$3,245$2,126$1,363$859$617
36 years$4,638$3,080$1,989$1,255$778$553
37 years$4,463$2,925$1,861$1,156$706$495
38 years$4,297$2,780$1,743$1,066$640$444
39 years$4,140$2,643$1,633$983$580$398
40 years$3,992$2,515$1,531$907$526$356
41 years$3,851$2,394$1,435$836$477$319
42 years$3,718$2,280$1,346$772$433$286
43 years$3,590$2,172$1,263$713$393$257
44 years$3,469$2,071$1,186$658$357$230
45 years$3,354$1,975$1,113$608$324$207
46 years$3,244$1,884$1,046$561$294$185
47 years$3,139$1,798$983$519$267$166
48 years$3,039$1,716$923$479$243$149
49 years$2,943$1,639$868$443$220$134
50 years$2,851$1,565$816$409$200$120

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,920,000, adding $6,651 every year, while hoping to spend $54,829 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: 51/24/25 Blend
70$2,920,000$2,920,000$2,920,000$2,920,000
71$3,224,701$3,069,941$3,024,681$3,366,241
72$3,495,282$3,162,030$3,067,670$3,557,310
73$3,791,626$3,256,794$3,110,261$3,758,856
74$4,116,301$3,354,306$3,152,384$3,976,900
75$4,472,138$3,454,641$3,193,963$4,213,031
76$4,862,253$3,557,876$3,234,918$4,469,001
77$5,290,079$3,664,089$3,275,165$4,746,737
78$5,759,398$3,773,360$3,314,614$5,048,362
79$6,274,375$3,885,772$3,353,171$5,376,211
80$6,839,595$4,001,409$3,390,736$5,732,860
81$7,460,113$4,120,357$3,427,205$6,121,142
82$8,141,494$4,242,705$3,462,466$6,544,180
83$8,889,871$4,368,541$3,496,403$7,005,413
84$9,711,997$4,497,959$3,528,891$7,508,627
85$10,615,313$4,631,052$3,559,802$8,057,996
86$11,608,018$4,767,916$3,588,999$8,658,115
87$12,699,142$4,908,650$3,616,336$9,314,047
88$13,898,634$5,053,354$3,641,663$10,031,372
89$15,217,457$5,202,130$3,664,821$10,816,233
90$16,667,685$5,355,083$3,685,640$11,675,402
91$18,262,626$5,512,318$3,703,946$12,616,337
92$20,016,938$5,673,946$3,719,552$13,647,259
93$21,946,773$5,840,076$3,732,264$14,777,220
94$24,069,926$6,010,823$3,741,878$16,016,200
95$26,406,005$6,186,300$3,748,177$17,375,191
96$28,976,614$6,366,625$3,750,938$18,866,308
97$31,805,557$6,551,918$3,749,923$20,502,896
98$34,919,062$6,742,300$3,744,883$22,299,665
99$38,346,029$6,937,895$3,735,559$24,272,820
100$42,118,301$7,138,829$3,721,677$26,440,218