Can I retire at age 71 with 2,050,000?

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 $2,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$169,287$167,779$166,308$164,872$163,470$161,965
2 years$83,805$82,245$80,732$79,265$77,843$76,327
3 years$55,315$53,748$52,239$50,786$49,387$47,906
4 years$41,073$39,510$38,017$36,589$35,223$33,790
5 years$32,530$30,977$29,502$28,104$26,776$25,394
6 years$26,836$25,295$23,842$22,475$21,187$19,858
7 years$22,771$21,242$19,813$18,478$17,231$15,955
8 years$19,724$18,209$16,803$15,500$14,294$13,072
9 years$17,355$15,854$14,472$13,203$12,038$10,869
10 years$15,460$13,974$12,617$11,381$10,257$9,141
11 years$13,912$12,441$11,108$9,905$8,821$7,757
12 years$12,622$11,166$9,858$8,688$7,644$6,630
13 years$11,532$10,091$8,808$7,670$6,666$5,701
14 years$10,598$9,172$7,914$6,809$5,843$4,927
15 years$9,789$8,379$7,145$6,072$5,145$4,275
16 years$9,082$7,688$6,478$5,437$4,547$3,723
17 years$8,459$7,080$5,895$4,885$4,032$3,251
18 years$7,906$6,542$5,381$4,402$3,585$2,847
19 years$7,412$6,063$4,926$3,978$3,195$2,498
20 years$6,967$5,634$4,521$3,603$2,854$2,196
21 years$6,566$5,248$4,158$3,270$2,554$1,934
22 years$6,201$4,899$3,833$2,973$2,289$1,706
23 years$5,869$4,582$3,539$2,708$2,055$1,506
24 years$5,565$4,293$3,273$2,469$1,847$1,331
25 years$5,285$4,029$3,031$2,255$1,662$1,178
26 years$5,028$3,786$2,811$2,062$1,497$1,043
27 years$4,790$3,563$2,611$1,887$1,350$924
28 years$4,569$3,358$2,427$1,729$1,218$820
29 years$4,364$3,168$2,258$1,586$1,100$727
30 years$4,173$2,992$2,104$1,455$994$646
31 years$3,995$2,828$1,961$1,337$898$573
32 years$3,828$2,676$1,830$1,228$813$509
33 years$3,671$2,534$1,708$1,130$736$453
34 years$3,524$2,402$1,596$1,039$666$403
35 years$3,386$2,278$1,492$957$603$358
36 years$3,256$2,162$1,396$881$546$318
37 years$3,133$2,054$1,307$812$495$283
38 years$3,017$1,952$1,224$748$449$252
39 years$2,907$1,856$1,146$690$407$224
40 years$2,803$1,766$1,075$636$369$200
41 years$2,704$1,681$1,008$587$335$178
42 years$2,610$1,601$945$542$304$158
43 years$2,521$1,525$887$500$276$141
44 years$2,436$1,454$833$462$250$126
45 years$2,355$1,386$782$427$227$112
46 years$2,277$1,322$734$394$206$100
47 years$2,204$1,262$690$364$187$89
48 years$2,133$1,205$648$336$170$79
49 years$2,066$1,150$609$311$155$70
50 years$2,002$1,099$573$287$140$63

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,050,000, adding $5,406 every year, while hoping to spend $29,056 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: 78/9/13 Blend
70$2,050,000$2,050,000$2,050,000$2,050,000
71$2,264,676$2,156,026$2,124,251$2,435,087
72$2,464,758$2,230,756$2,164,498$2,622,755
73$2,684,274$2,308,174$2,205,120$2,824,295
74$2,925,176$2,388,381$2,246,098$3,044,531
75$3,189,614$2,471,482$2,287,412$3,285,320
76$3,479,956$2,557,586$2,329,042$3,548,703
77$3,798,811$2,646,806$2,370,964$3,836,930
78$4,149,051$2,739,261$2,413,153$4,152,480
79$4,533,843$2,835,074$2,455,582$4,498,082
80$4,956,674$2,934,371$2,498,223$4,876,741
81$5,421,385$3,037,286$2,541,044$5,291,768
82$5,932,210$3,143,957$2,584,012$5,746,810
83$6,493,811$3,254,526$2,627,092$6,245,884
84$7,111,325$3,369,143$2,670,245$6,793,414
85$7,790,413$3,487,964$2,713,431$7,394,276
86$8,537,310$3,611,149$2,756,606$8,053,838
87$9,358,888$3,738,868$2,799,724$8,778,017
88$10,262,716$3,871,293$2,842,736$9,573,330
89$11,257,135$4,008,609$2,885,590$10,446,955
90$12,351,334$4,151,002$2,928,229$11,406,803
91$13,555,440$4,298,671$2,970,594$12,461,588
92$14,880,609$4,451,820$3,012,624$13,620,911
93$16,339,135$4,610,663$3,054,250$14,895,351
94$17,944,563$4,775,422$3,095,403$16,296,561
95$19,711,817$4,946,326$3,136,008$17,837,383
96$21,657,344$5,123,618$3,175,986$19,531,965
97$23,799,265$5,307,547$3,215,254$21,395,896
98$26,157,547$5,498,374$3,253,722$23,446,353
99$28,754,193$5,696,371$3,291,298$25,702,260
100$31,613,447$5,901,819$3,327,883$28,184,470