Can I retire at age 71 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$247,737$245,530$243,378$241,276$239,224$230,553
2 years$122,642$120,358$118,144$115,998$113,916$105,275
3 years$80,949$78,655$76,447$74,321$72,273$63,934
4 years$60,107$57,820$55,634$53,544$51,546$43,572
5 years$47,605$45,332$43,174$41,127$39,184$31,597
6 years$39,273$37,017$34,891$32,890$31,005$23,810
7 years$33,324$31,087$28,995$27,040$25,216$18,411
8 years$28,864$26,647$24,590$22,684$20,919$14,498
9 years$25,397$23,201$21,179$19,321$17,617$11,572
10 years$22,625$20,450$18,465$16,655$15,010$9,331
11 years$20,359$18,206$16,256$14,495$12,909$7,583
12 years$18,471$16,341$14,427$12,714$11,187$6,201
13 years$16,875$14,767$12,889$11,225$9,755$5,096
14 years$15,509$13,423$11,581$9,964$8,551$4,204
15 years$14,326$12,262$10,456$8,886$7,529$3,479
16 years$13,291$11,250$9,480$7,957$6,654$2,887
17 years$12,379$10,361$8,626$7,149$5,900$2,401
18 years$11,570$9,574$7,875$6,443$5,246$2,000
19 years$10,846$8,873$7,209$5,821$4,676$1,669
20 years$10,196$8,245$6,616$5,272$4,177$1,394
21 years$9,608$7,680$6,086$4,785$3,738$1,165
22 years$9,075$7,169$5,609$4,351$3,350$975
23 years$8,589$6,705$5,179$3,962$3,007$817
24 years$8,143$6,282$4,789$3,614$2,703$684
25 years$7,734$5,896$4,436$3,300$2,432$573
26 years$7,358$5,541$4,114$3,018$2,191$481
27 years$7,009$5,215$3,820$2,762$1,975$403
28 years$6,686$4,914$3,551$2,531$1,782$338
29 years$6,386$4,636$3,305$2,321$1,610$284
30 years$6,107$4,378$3,078$2,130$1,454$238
31 years$5,846$4,139$2,870$1,956$1,315$200
32 years$5,601$3,916$2,678$1,798$1,189$168
33 years$5,373$3,708$2,500$1,653$1,076$141
34 years$5,158$3,515$2,336$1,521$975$119
35 years$4,955$3,334$2,184$1,400$883$100
36 years$4,765$3,164$2,043$1,290$800$84
37 years$4,585$3,005$1,912$1,188$725$70
38 years$4,415$2,856$1,791$1,095$657$59
39 years$4,254$2,716$1,678$1,010$596$50
40 years$4,101$2,584$1,573$931$541$42
41 years$3,957$2,460$1,475$859$490$35
42 years$3,819$2,342$1,383$793$445$29
43 years$3,689$2,232$1,298$732$404$25
44 years$3,564$2,127$1,218$676$367$21
45 years$3,446$2,029$1,144$624$333$17
46 years$3,333$1,935$1,074$577$302$15
47 years$3,225$1,847$1,009$533$274$12
48 years$3,122$1,763$949$492$249$10
49 years$3,023$1,684$892$455$226$9
50 years$2,929$1,608$838$421$206$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $3,000,000, adding $4,692 every year, while hoping to spend $53,884 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: 58/36/6 Blend
70$3,000,000$3,000,000$3,000,000$3,000,000
71$3,310,840$3,151,840$3,105,340$3,498,598
72$3,591,213$3,248,948$3,152,037$3,722,269
73$3,898,379$3,349,008$3,198,492$3,959,406
74$4,235,013$3,452,109$3,244,640$4,216,513
75$4,604,061$3,558,339$3,290,413$4,495,501
76$5,008,771$3,667,793$3,335,737$4,798,476
77$5,452,717$3,780,566$3,380,535$5,127,755
78$5,939,836$3,896,756$3,424,725$5,485,886
79$6,474,466$4,016,464$3,468,221$5,875,675
80$7,061,384$4,139,793$3,510,929$6,300,209
81$7,705,854$4,266,852$3,552,753$6,762,887
82$8,413,672$4,397,748$3,593,591$7,267,448
83$9,191,225$4,532,596$3,633,335$7,818,011
84$10,045,547$4,671,511$3,671,870$8,419,110
85$10,984,391$4,814,613$3,709,075$9,075,736
86$12,016,294$4,962,024$3,744,824$9,793,385
87$13,150,663$5,113,871$3,778,983$10,578,110
88$14,397,862$5,270,282$3,811,410$11,436,574
89$15,769,309$5,431,391$3,841,958$12,376,117
90$17,277,584$5,597,334$3,870,469$13,404,822
91$18,936,547$5,768,253$3,896,779$14,531,591
92$20,761,469$5,944,291$3,920,714$15,766,228
93$22,769,174$6,125,597$3,942,094$17,119,531
94$24,978,201$6,312,323$3,960,726$18,603,397
95$27,408,977$6,504,625$3,976,409$20,230,926
96$30,084,006$6,702,665$3,988,932$22,016,552
97$33,028,086$6,906,607$3,998,072$23,976,174
98$36,268,541$7,116,621$4,003,598$26,127,304
99$39,835,477$7,332,881$4,005,264$28,489,238
100$43,762,068$7,555,565$4,002,813$31,083,229