Can I retire at age 71 with 2,940,000?

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$242,782$240,620$238,510$236,451$234,440$230,272
2 years$120,189$117,951$115,782$113,678$111,638$107,453
3 years$79,330$77,082$74,918$72,835$70,828$66,756
4 years$58,905$56,664$54,521$52,473$50,515$46,588
5 years$46,653$44,425$42,311$40,305$38,401$34,630
6 years$38,487$36,276$34,193$32,232$30,385$26,774
7 years$32,657$30,465$28,415$26,500$24,711$21,262
8 years$28,287$26,114$24,098$22,230$20,500$17,211
9 years$24,889$22,737$20,756$18,935$17,264$14,134
10 years$22,172$20,041$18,095$16,322$14,710$11,735
11 years$19,951$17,842$15,931$14,205$12,651$9,829
12 years$18,102$16,014$14,138$12,460$10,963$8,290
13 years$16,538$14,472$12,632$11,000$9,560$7,031
14 years$15,199$13,154$11,349$9,765$8,380$5,991
15 years$14,039$12,017$10,247$8,708$7,379$5,125
16 years$13,025$11,025$9,290$7,797$6,521$4,398
17 years$12,132$10,154$8,454$7,006$5,782$3,785
18 years$11,338$9,383$7,717$6,314$5,141$3,264
19 years$10,629$8,696$7,065$5,705$4,583$2,821
20 years$9,992$8,080$6,484$5,167$4,093$2,442
21 years$9,416$7,527$5,964$4,689$3,663$2,117
22 years$8,893$7,026$5,497$4,264$3,283$1,837
23 years$8,417$6,571$5,075$3,883$2,947$1,596
24 years$7,981$6,157$4,694$3,542$2,649$1,388
25 years$7,580$5,778$4,347$3,234$2,384$1,208
26 years$7,210$5,430$4,032$2,957$2,147$1,052
27 years$6,869$5,110$3,744$2,707$1,936$917
28 years$6,553$4,816$3,480$2,480$1,747$799
29 years$6,259$4,543$3,239$2,274$1,577$697
30 years$5,985$4,290$3,017$2,087$1,425$608
31 years$5,729$4,056$2,813$1,917$1,289$531
32 years$5,489$3,838$2,624$1,762$1,166$464
33 years$5,265$3,634$2,450$1,620$1,055$405
34 years$5,054$3,444$2,289$1,491$955$354
35 years$4,856$3,267$2,140$1,372$865$309
36 years$4,669$3,101$2,002$1,264$784$270
37 years$4,493$2,945$1,874$1,164$710$236
38 years$4,327$2,799$1,755$1,073$644$206
39 years$4,169$2,661$1,644$990$584$180
40 years$4,019$2,532$1,541$913$530$158
41 years$3,878$2,410$1,445$842$481$138
42 years$3,743$2,296$1,356$777$436$121
43 years$3,615$2,187$1,272$717$396$105
44 years$3,493$2,085$1,194$662$359$92
45 years$3,377$1,988$1,121$612$326$81
46 years$3,266$1,897$1,053$565$296$71
47 years$3,161$1,810$989$522$269$62
48 years$3,060$1,728$930$482$244$54
49 years$2,963$1,650$874$446$222$47
50 years$2,870$1,576$821$412$201$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,940,000, adding $2,211 every year, while hoping to spend $21,333 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: 47/26/27 Blend
70$2,940,000$2,940,000$2,940,000$2,940,000
71$3,242,161$3,086,341$3,040,771$3,369,366
72$3,550,163$3,214,873$3,119,938$3,587,782
73$3,888,866$3,348,989$3,201,043$3,822,470
74$4,261,380$3,488,939$3,284,127$4,076,816
75$4,671,129$3,634,985$3,369,234$4,352,676
76$5,121,889$3,787,403$3,456,408$4,652,092
77$5,617,816$3,946,481$3,545,692$4,977,310
78$6,163,492$4,112,518$3,637,132$5,330,797
79$6,763,967$4,285,829$3,730,774$5,715,266
80$7,424,802$4,466,745$3,826,665$6,133,702
81$8,152,125$4,655,609$3,924,852$6,589,385
82$8,952,690$4,852,782$4,025,383$7,085,925
83$9,833,938$5,058,642$4,128,307$7,627,293
84$10,804,067$5,273,583$4,233,673$8,217,857
85$11,872,113$5,498,019$4,341,531$8,862,423
86$13,048,028$5,732,383$4,451,933$9,566,279
87$14,342,784$5,977,126$4,564,929$10,335,244
88$15,768,466$6,232,723$4,680,572$11,175,722
89$17,338,393$6,499,671$4,798,915$12,094,762
90$19,067,242$6,778,487$4,920,011$13,100,122
91$20,971,183$7,069,715$5,043,914$14,200,341
92$23,068,038$7,373,925$5,170,679$15,404,819
93$25,377,442$7,691,712$5,300,362$16,723,905
94$27,921,034$8,023,699$5,433,017$18,168,991
95$30,722,658$8,370,539$5,568,701$19,752,622
96$33,808,589$8,732,915$5,707,472$21,488,609
97$37,207,779$9,111,542$5,849,387$23,392,158
98$40,952,134$9,507,169$5,994,503$25,480,014
99$45,076,812$9,920,581$6,142,879$27,770,619
100$49,620,556$10,352,598$6,294,574$30,284,279