Can I retire at age 71 with 2,380,000?

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 $2,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$196,538$194,788$193,080$191,412$189,785$183,270
2 years$97,296$95,484$93,728$92,025$90,374$83,876
3 years$64,220$62,400$60,648$58,961$57,337$51,061
4 years$47,685$45,871$44,136$42,478$40,893$34,887
5 years$37,766$35,963$34,252$32,627$31,086$25,366
6 years$31,156$29,367$27,680$26,092$24,597$19,167
7 years$26,437$24,662$23,003$21,452$20,004$14,863
8 years$22,899$21,140$19,508$17,996$16,596$11,739
9 years$20,148$18,406$16,802$15,328$13,976$9,398
10 years$17,949$16,224$14,649$13,213$11,908$7,602
11 years$16,151$14,443$12,896$11,499$10,241$6,198
12 years$14,654$12,964$11,445$10,086$8,875$5,086
13 years$13,388$11,715$10,226$8,905$7,739$4,193
14 years$12,304$10,649$9,188$7,905$6,784$3,472
15 years$11,365$9,728$8,295$7,050$5,973$2,884
16 years$10,544$8,925$7,521$6,312$5,279$2,402
17 years$9,821$8,220$6,844$5,671$4,681$2,004
18 years$9,179$7,595$6,247$5,111$4,162$1,676
19 years$8,605$7,039$5,719$4,618$3,710$1,404
20 years$8,089$6,541$5,249$4,183$3,314$1,177
21 years$7,623$6,093$4,828$3,796$2,965$988
22 years$7,199$5,688$4,450$3,452$2,658$830
23 years$6,814$5,319$4,108$3,143$2,386$698
24 years$6,460$4,984$3,800$2,867$2,145$587
25 years$6,136$4,677$3,519$2,618$1,930$494
26 years$5,837$4,396$3,264$2,394$1,738$416
27 years$5,561$4,137$3,031$2,191$1,567$350
28 years$5,305$3,898$2,818$2,008$1,414$295
29 years$5,066$3,678$2,622$1,841$1,277$249
30 years$4,845$3,473$2,442$1,690$1,154$210
31 years$4,638$3,283$2,277$1,552$1,043$177
32 years$4,444$3,107$2,124$1,426$944$149
33 years$4,262$2,942$1,983$1,311$854$126
34 years$4,092$2,788$1,853$1,207$773$106
35 years$3,931$2,645$1,733$1,111$700$89
36 years$3,780$2,510$1,621$1,023$634$75
37 years$3,637$2,384$1,517$943$575$64
38 years$3,502$2,266$1,421$869$521$54
39 years$3,375$2,155$1,331$801$473$45
40 years$3,254$2,050$1,248$739$429$38
41 years$3,139$1,951$1,170$682$389$32
42 years$3,030$1,858$1,097$629$353$27
43 years$2,926$1,771$1,030$581$320$23
44 years$2,828$1,688$967$536$291$19
45 years$2,734$1,609$908$495$264$16
46 years$2,644$1,535$852$457$240$14
47 years$2,559$1,465$801$423$218$12
48 years$2,477$1,399$753$391$198$10
49 years$2,399$1,336$707$361$180$8
50 years$2,324$1,276$665$334$163$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,380,000, adding $5,614 every year, while hoping to spend $30,911 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: 52/32/16 Blend
70$2,380,000$2,380,000$2,380,000$2,380,000
71$2,628,551$2,502,411$2,465,521$2,753,544
72$2,863,774$2,592,140$2,515,227$2,929,541
73$3,121,954$2,685,230$2,565,562$3,117,137
74$3,405,399$2,781,812$2,616,514$3,320,488
75$3,716,654$2,882,025$2,668,072$3,541,096
76$4,058,520$2,986,011$2,720,219$3,780,612
77$4,434,083$3,093,920$2,772,940$4,040,852
78$4,846,744$3,205,906$2,826,218$4,323,815
79$5,300,248$3,322,132$2,880,033$4,631,697
80$5,798,723$3,442,766$2,934,363$4,966,917
81$6,346,714$3,567,983$2,989,186$5,332,134
82$6,949,231$3,697,966$3,044,476$5,730,277
83$7,611,791$3,832,906$3,100,205$6,164,567
84$8,340,476$3,973,000$3,156,344$6,638,551
85$9,141,983$4,118,456$3,212,860$7,156,130
86$10,023,694$4,269,488$3,269,719$7,721,602
87$10,993,740$4,426,323$3,326,884$8,339,694
88$12,061,081$4,589,192$3,384,314$9,015,614
89$13,235,589$4,758,340$3,441,966$9,755,093
90$14,528,142$4,934,021$3,499,795$10,564,442
91$15,950,724$5,116,500$3,557,750$11,450,611
92$17,516,542$5,306,053$3,615,779$12,421,251
93$19,240,148$5,502,968$3,673,825$13,484,787
94$21,137,574$5,707,544$3,731,829$14,650,499
95$23,226,487$5,920,095$3,789,727$15,928,605
96$25,526,356$6,140,947$3,847,450$17,330,359
97$28,058,631$6,370,439$3,904,926$18,868,155
98$30,846,948$6,608,927$3,962,077$20,555,646
99$33,917,352$6,856,781$4,018,823$22,407,865
100$37,298,545$7,114,386$4,075,076$24,441,376