Can I retire at age 71 with 2,300,000?

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 $2,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$189,932$188,240$186,589$184,978$183,405$177,605
2 years$94,026$92,275$90,577$88,932$87,336$81,545
3 years$62,061$60,302$58,610$56,980$55,409$49,810
4 years$46,082$44,329$42,653$41,051$39,518$34,152
5 years$36,497$34,754$33,100$31,531$30,041$24,923
6 years$30,109$28,379$26,750$25,215$23,771$18,905
7 years$25,548$23,833$22,229$20,731$19,332$14,719
8 years$22,129$20,429$18,852$17,391$16,038$11,673
9 years$19,471$17,787$16,237$14,813$13,506$9,386
10 years$17,346$15,679$14,156$12,769$11,508$7,625
11 years$15,608$13,958$12,463$11,113$9,897$6,246
12 years$14,161$12,528$11,060$9,747$8,577$5,148
13 years$12,938$11,321$9,882$8,606$7,479$4,265
14 years$11,890$10,291$8,879$7,639$6,556$3,548
15 years$10,983$9,401$8,016$6,813$5,772$2,962
16 years$10,190$8,625$7,268$6,100$5,102$2,479
17 years$9,491$7,943$6,614$5,481$4,524$2,080
18 years$8,870$7,340$6,037$4,939$4,022$1,748
19 years$8,316$6,803$5,527$4,463$3,585$1,472
20 years$7,817$6,321$5,072$4,042$3,202$1,241
21 years$7,366$5,888$4,666$3,669$2,866$1,047
22 years$6,957$5,496$4,300$3,336$2,569$884
23 years$6,585$5,141$3,970$3,038$2,306$748
24 years$6,243$4,816$3,672$2,771$2,072$632
25 years$5,930$4,520$3,401$2,530$1,865$535
26 years$5,641$4,248$3,154$2,314$1,680$453
27 years$5,374$3,998$2,929$2,118$1,514$384
28 years$5,126$3,767$2,723$1,940$1,367$325
29 years$4,896$3,554$2,534$1,779$1,234$276
30 years$4,682$3,356$2,360$1,633$1,115$234
31 years$4,482$3,173$2,200$1,500$1,008$198
32 years$4,294$3,002$2,053$1,378$912$168
33 years$4,119$2,843$1,917$1,267$825$143
34 years$3,954$2,695$1,791$1,166$747$121
35 years$3,799$2,556$1,674$1,073$677$103
36 years$3,653$2,426$1,566$989$613$87
37 years$3,515$2,304$1,466$911$556$74
38 years$3,385$2,190$1,373$840$504$63
39 years$3,261$2,082$1,286$774$457$53
40 years$3,144$1,981$1,206$714$414$45
41 years$3,034$1,886$1,131$659$376$38
42 years$2,928$1,796$1,060$608$341$33
43 years$2,828$1,711$995$561$310$28
44 years$2,733$1,631$934$518$281$23
45 years$2,642$1,555$877$479$255$20
46 years$2,555$1,484$824$442$232$17
47 years$2,473$1,416$774$408$210$14
48 years$2,393$1,352$727$377$191$12
49 years$2,318$1,291$684$349$173$10
50 years$2,246$1,233$643$322$158$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,300,000, adding $2,067 every year, while hoping to spend $41,308 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: 60/23/17 Blend
70$2,300,000$2,300,000$2,300,000$2,300,000
71$2,536,732$2,414,832$2,379,182$2,677,758
72$2,751,527$2,489,207$2,414,933$2,847,608
73$2,986,847$2,565,843$2,450,498$3,028,048
74$3,244,742$2,644,805$2,485,825$3,223,938
75$3,527,468$2,726,164$2,520,864$3,436,777
76$3,837,514$2,809,989$2,555,556$3,668,218
77$4,177,616$2,896,355$2,589,843$3,920,078
78$4,550,793$2,985,336$2,623,663$4,194,359
79$4,960,366$3,077,009$2,656,947$4,493,264
80$5,409,995$3,171,454$2,689,627$4,819,222
81$5,903,711$3,268,753$2,721,627$5,174,904
82$6,445,957$3,368,989$2,752,868$5,563,253
83$7,041,624$3,472,249$2,783,269$5,987,510
84$7,696,101$3,578,621$2,812,740$6,451,245
85$8,415,327$3,688,196$2,841,190$6,958,390
86$9,205,842$3,801,069$2,868,521$7,513,275
87$10,074,851$3,917,336$2,894,631$8,120,670
88$11,030,296$4,037,094$2,919,410$8,785,830
89$12,080,921$4,160,448$2,942,746$9,514,543
90$13,236,365$4,287,499$2,964,518$10,313,184
91$14,507,245$4,418,357$2,984,599$11,188,779
92$15,905,258$4,553,131$3,002,858$12,149,066
93$17,443,295$4,691,935$3,019,154$13,202,569
94$19,135,556$4,834,884$3,033,340$14,358,681
95$20,997,688$4,982,099$3,045,263$15,627,751
96$23,046,932$5,133,702$3,054,759$17,021,178
97$25,302,285$5,289,820$3,061,660$18,551,524
98$27,784,678$5,450,581$3,065,785$20,232,629
99$30,517,174$5,616,118$3,066,948$22,079,741
100$33,525,187$5,786,568$3,064,951$24,109,662