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

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 $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%15.6%
1 years$247,737$245,530$243,378$241,276$239,224$233,726
2 years$122,642$120,358$118,144$115,998$113,916$108,407
3 years$80,949$78,655$76,447$74,321$72,273$66,925
4 years$60,107$57,820$55,634$53,544$51,546$46,401
5 years$47,605$45,332$43,174$41,127$39,184$34,256
6 years$39,273$37,017$34,891$32,890$31,005$26,299
7 years$33,324$31,087$28,995$27,040$25,216$20,732
8 years$28,864$26,647$24,590$22,684$20,919$16,656
9 years$25,397$23,201$21,179$19,321$17,617$13,572
10 years$22,625$20,450$18,465$16,655$15,010$11,179
11 years$20,359$18,206$16,256$14,495$12,909$9,286
12 years$18,471$16,341$14,427$12,714$11,187$7,766
13 years$16,875$14,767$12,889$11,225$9,755$6,530
14 years$15,509$13,423$11,581$9,964$8,551$5,516
15 years$14,326$12,262$10,456$8,886$7,529$4,676
16 years$13,291$11,250$9,480$7,957$6,654$3,976
17 years$12,379$10,361$8,626$7,149$5,900$3,390
18 years$11,570$9,574$7,875$6,443$5,246$2,896
19 years$10,846$8,873$7,209$5,821$4,676$2,479
20 years$10,196$8,245$6,616$5,272$4,177$2,125
21 years$9,608$7,680$6,086$4,785$3,738$1,824
22 years$9,075$7,169$5,609$4,351$3,350$1,567
23 years$8,589$6,705$5,179$3,962$3,007$1,348
24 years$8,143$6,282$4,789$3,614$2,703$1,160
25 years$7,734$5,896$4,436$3,300$2,432$999
26 years$7,358$5,541$4,114$3,018$2,191$861
27 years$7,009$5,215$3,820$2,762$1,975$743
28 years$6,686$4,914$3,551$2,531$1,782$641
29 years$6,386$4,636$3,305$2,321$1,610$553
30 years$6,107$4,378$3,078$2,130$1,454$477
31 years$5,846$4,139$2,870$1,956$1,315$412
32 years$5,601$3,916$2,678$1,798$1,189$356
33 years$5,373$3,708$2,500$1,653$1,076$308
34 years$5,158$3,515$2,336$1,521$975$266
35 years$4,955$3,334$2,184$1,400$883$230
36 years$4,765$3,164$2,043$1,290$800$198
37 years$4,585$3,005$1,912$1,188$725$172
38 years$4,415$2,856$1,791$1,095$657$148
39 years$4,254$2,716$1,678$1,010$596$128
40 years$4,101$2,584$1,573$931$541$111
41 years$3,957$2,460$1,475$859$490$96
42 years$3,819$2,342$1,383$793$445$83
43 years$3,689$2,232$1,298$732$404$72
44 years$3,564$2,127$1,218$676$367$62
45 years$3,446$2,029$1,144$624$333$54
46 years$3,333$1,935$1,074$577$302$46
47 years$3,225$1,847$1,009$533$274$40
48 years$3,122$1,763$949$492$249$35
49 years$3,023$1,684$892$455$226$30
50 years$2,929$1,608$838$421$206$26

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 $2,400 every year, while hoping to spend $23,723 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: 61/26/13 Blend
70$3,000,000$3,000,000$3,000,000$3,000,000
71$3,308,476$3,149,476$3,102,976$3,499,715
72$3,620,699$3,278,559$3,181,684$3,757,578
73$3,963,974$3,413,172$3,262,234$4,035,934
74$4,341,443$3,553,561$3,344,663$4,339,105
75$4,756,568$3,699,983$3,429,007$4,669,495
76$5,213,163$3,852,708$3,515,304$5,029,745
77$5,715,431$4,012,015$3,603,591$5,422,762
78$6,268,001$4,178,200$3,693,908$5,851,745
79$6,875,976$4,351,571$3,786,293$6,320,211
80$7,544,977$4,532,449$3,880,785$6,832,033
81$8,281,196$4,721,171$3,977,423$7,391,471
82$9,091,459$4,918,089$4,076,247$8,003,214
83$9,983,284$5,123,572$4,177,298$8,672,423
84$10,964,958$5,338,005$4,280,616$9,404,778
85$12,045,608$5,561,792$4,386,241$10,206,531
86$13,235,295$5,795,355$4,494,215$11,084,566
87$14,545,102$6,039,135$4,604,579$12,046,458
88$15,987,244$6,293,594$4,717,373$13,100,551
89$17,575,178$6,559,215$4,832,641$14,256,028
90$19,323,735$6,836,505$4,950,422$15,523,002
91$21,249,254$7,125,992$5,070,760$16,912,608
92$23,369,744$7,428,231$5,193,696$18,437,107
93$25,705,044$7,743,802$5,319,272$20,110,000
94$28,277,021$8,073,310$5,447,530$21,946,157
95$31,109,766$8,417,391$5,578,511$23,961,953
96$34,229,829$8,776,710$5,712,257$26,175,420
97$37,666,464$9,151,961$5,848,811$28,606,420
98$41,451,909$9,543,873$5,988,212$31,276,829
99$45,621,689$9,953,209$6,130,502$34,210,739
100$50,214,950$10,380,764$6,275,723$37,434,689