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%18.2%
1 years$247,737$245,530$243,378$241,276$239,224$231,289
2 years$122,642$120,358$118,144$115,998$113,916$105,999
3 years$80,949$78,655$76,447$74,321$72,273$64,622
4 years$60,107$57,820$55,634$53,544$51,546$44,219
5 years$47,605$45,332$43,174$41,127$39,184$32,202
6 years$39,273$37,017$34,891$32,890$31,005$24,373
7 years$33,324$31,087$28,995$27,040$25,216$18,932
8 years$28,864$26,647$24,590$22,684$20,919$14,980
9 years$25,397$23,201$21,179$19,321$17,617$12,015
10 years$22,625$20,450$18,465$16,655$15,010$9,737
11 years$20,359$18,206$16,256$14,495$12,909$7,954
12 years$18,471$16,341$14,427$12,714$11,187$6,539
13 years$16,875$14,767$12,889$11,225$9,755$5,403
14 years$15,509$13,423$11,581$9,964$8,551$4,483
15 years$14,326$12,262$10,456$8,886$7,529$3,731
16 years$13,291$11,250$9,480$7,957$6,654$3,114
17 years$12,379$10,361$8,626$7,149$5,900$2,605
18 years$11,570$9,574$7,875$6,443$5,246$2,183
19 years$10,846$8,873$7,209$5,821$4,676$1,832
20 years$10,196$8,245$6,616$5,272$4,177$1,540
21 years$9,608$7,680$6,086$4,785$3,738$1,295
22 years$9,075$7,169$5,609$4,351$3,350$1,091
23 years$8,589$6,705$5,179$3,962$3,007$919
24 years$8,143$6,282$4,789$3,614$2,703$775
25 years$7,734$5,896$4,436$3,300$2,432$654
26 years$7,358$5,541$4,114$3,018$2,191$552
27 years$7,009$5,215$3,820$2,762$1,975$466
28 years$6,686$4,914$3,551$2,531$1,782$394
29 years$6,386$4,636$3,305$2,321$1,610$332
30 years$6,107$4,378$3,078$2,130$1,454$281
31 years$5,846$4,139$2,870$1,956$1,315$237
32 years$5,601$3,916$2,678$1,798$1,189$201
33 years$5,373$3,708$2,500$1,653$1,076$170
34 years$5,158$3,515$2,336$1,521$975$143
35 years$4,955$3,334$2,184$1,400$883$121
36 years$4,765$3,164$2,043$1,290$800$103
37 years$4,585$3,005$1,912$1,188$725$87
38 years$4,415$2,856$1,791$1,095$657$73
39 years$4,254$2,716$1,678$1,010$596$62
40 years$4,101$2,584$1,573$931$541$52
41 years$3,957$2,460$1,475$859$490$44
42 years$3,819$2,342$1,383$793$445$38
43 years$3,689$2,232$1,298$732$404$32
44 years$3,564$2,127$1,218$676$367$27
45 years$3,446$2,029$1,144$624$333$23
46 years$3,333$1,935$1,074$577$302$19
47 years$3,225$1,847$1,009$533$274$16
48 years$3,122$1,763$949$492$249$14
49 years$3,023$1,684$892$455$226$12
50 years$2,929$1,608$838$421$206$10

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 $6,339 every year, while hoping to spend $28,955 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: 52/26/22 Blend
70$3,000,000$3,000,000$3,000,000$3,000,000
71$3,312,539$3,153,539$3,107,039$3,464,282
72$3,619,610$3,277,254$3,180,317$3,693,382
73$3,957,032$3,406,061$3,255,079$3,938,938
74$4,327,869$3,540,179$3,331,345$4,205,436
75$4,735,500$3,679,836$3,409,133$4,494,877
76$5,183,644$3,825,271$3,488,462$4,809,463
77$5,676,400$3,976,733$3,569,350$5,151,613
78$6,218,284$4,134,484$3,651,814$5,523,992
79$6,814,272$4,298,796$3,735,872$5,929,529
80$7,469,844$4,469,954$3,821,540$6,371,446
81$8,191,041$4,648,254$3,908,834$6,853,290
82$8,984,517$4,834,009$3,997,770$7,378,961
83$9,857,604$5,027,542$4,088,362$7,952,754
84$10,818,381$5,229,193$4,180,624$8,579,393
85$11,875,749$5,439,317$4,274,568$9,264,080
86$13,039,517$5,658,284$4,370,207$10,012,538
87$14,320,490$5,886,483$4,467,552$10,831,069
88$15,730,578$6,124,319$4,566,613$11,726,610
89$17,282,901$6,372,214$4,667,398$12,706,796
90$18,991,917$6,630,612$4,769,916$13,780,035
91$20,873,556$6,899,976$4,874,172$14,955,585
92$22,945,373$7,180,789$4,980,171$16,243,637
93$25,226,710$7,473,557$5,087,916$17,655,414
94$27,738,883$7,778,810$5,197,410$19,203,276
95$30,505,378$8,097,100$5,308,651$20,900,832
96$33,552,074$8,429,006$5,421,639$22,763,070
97$36,907,491$8,775,133$5,536,369$24,806,496
98$40,603,053$9,136,112$5,652,835$27,049,289
99$44,673,389$9,512,606$5,771,030$29,511,472
100$49,156,657$9,905,306$5,890,942$32,215,098