Can I retire at age 71 with 2,310,000?

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 $2,310,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$190,758$189,058$187,401$185,783$184,203$181,600
2 years$94,434$92,676$90,971$89,319$87,716$85,098
3 years$62,331$60,565$58,864$57,227$55,650$53,100
4 years$46,282$44,521$42,838$41,229$39,690$37,227
5 years$36,656$34,905$33,244$31,668$30,172$27,802
6 years$30,240$28,503$26,866$25,325$23,874$21,601
7 years$25,659$23,937$22,326$20,821$19,416$17,240
8 years$22,225$20,518$18,934$17,466$16,107$14,028
9 years$19,556$17,865$16,308$14,877$13,565$11,582
10 years$17,421$15,747$14,218$12,824$11,558$9,669
11 years$15,676$14,019$12,517$11,161$9,940$8,144
12 years$14,223$12,582$11,109$9,790$8,614$6,909
13 years$12,994$11,371$9,925$8,643$7,512$5,895
14 years$11,942$10,336$8,917$7,672$6,585$5,053
15 years$11,031$9,442$8,051$6,842$5,798$4,350
16 years$10,234$8,663$7,300$6,127$5,124$3,756
17 years$9,532$7,978$6,642$5,505$4,543$3,253
18 years$8,909$7,372$6,064$4,961$4,040$2,824
19 years$8,352$6,832$5,551$4,482$3,601$2,457
20 years$7,851$6,349$5,094$4,060$3,216$2,141
21 years$7,398$5,914$4,686$3,684$2,878$1,868
22 years$6,988$5,520$4,319$3,350$2,580$1,633
23 years$6,613$5,163$3,988$3,051$2,316$1,429
24 years$6,270$4,837$3,688$2,783$2,081$1,251
25 years$5,956$4,540$3,416$2,541$1,873$1,097
26 years$5,665$4,267$3,168$2,324$1,687$962
27 years$5,397$4,015$2,942$2,127$1,521$844
28 years$5,148$3,784$2,735$1,949$1,372$741
29 years$4,917$3,569$2,545$1,787$1,239$652
30 years$4,702$3,371$2,370$1,640$1,120$573
31 years$4,501$3,187$2,210$1,506$1,012$504
32 years$4,313$3,015$2,062$1,384$916$443
33 years$4,137$2,855$1,925$1,273$829$390
34 years$3,971$2,706$1,799$1,171$750$343
35 years$3,816$2,567$1,682$1,078$680$302
36 years$3,669$2,436$1,573$993$616$266
37 years$3,530$2,314$1,472$915$558$234
38 years$3,399$2,199$1,379$843$506$206
39 years$3,276$2,091$1,292$778$459$182
40 years$3,158$1,990$1,211$717$416$160
41 years$3,047$1,894$1,135$662$378$141
42 years$2,941$1,804$1,065$611$343$124
43 years$2,840$1,719$999$564$311$110
44 years$2,745$1,638$938$520$282$97
45 years$2,653$1,562$881$481$256$85
46 years$2,566$1,490$827$444$233$75
47 years$2,483$1,422$777$410$211$66
48 years$2,404$1,358$730$379$192$58
49 years$2,328$1,296$687$350$174$51
50 years$2,255$1,238$645$324$158$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,310,000, adding $4,204 every year, while hoping to spend $21,152 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: 29/45/26 Blend
70$2,310,000$2,310,000$2,310,000$2,310,000
71$2,549,956$2,427,526$2,391,721$2,603,247
72$2,787,546$2,523,970$2,449,339$2,741,804
73$3,048,662$2,624,430$2,508,177$2,888,526
74$3,335,679$2,729,081$2,568,255$3,045,840
75$3,651,219$2,838,106$2,629,592$3,214,672
76$3,998,165$2,951,695$2,692,205$3,396,041
77$4,379,697$3,070,047$2,756,113$3,591,060
78$4,799,318$3,193,371$2,821,334$3,800,953
79$5,260,886$3,321,884$2,887,887$4,027,060
80$5,768,653$3,455,813$2,955,788$4,270,853
81$6,327,304$3,595,396$3,025,055$4,533,944
82$6,942,000$3,740,882$3,095,705$4,818,106
83$7,618,428$3,892,529$3,167,756$5,125,283
84$8,362,855$4,050,610$3,241,222$5,457,611
85$9,182,184$4,215,409$3,316,122$5,817,434
86$10,084,025$4,387,222$3,392,470$6,207,328
87$11,076,759$4,566,359$3,470,281$6,630,122
88$12,169,623$4,753,145$3,549,570$7,088,925
89$13,372,794$4,947,919$3,630,350$7,587,155
90$14,697,488$5,151,036$3,712,636$8,128,565
91$16,156,062$5,362,866$3,796,439$8,717,284
92$17,762,132$5,583,799$3,881,772$9,357,850
93$19,530,703$5,814,239$3,968,645$10,055,253
94$21,478,309$6,054,611$4,057,069$10,814,979
95$23,623,168$6,305,358$4,147,052$11,643,062
96$25,985,356$6,566,945$4,238,603$12,546,140
97$28,586,995$6,839,858$4,331,729$13,531,514
98$31,452,461$7,124,604$4,426,435$14,607,216
99$34,608,618$7,421,715$4,522,725$15,782,082
100$38,085,064$7,731,747$4,620,604$17,065,835