Can I retire at age 71 with 2,390,000?

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$197,364$195,606$193,891$192,217$190,582$185,299
2 years$97,705$95,885$94,122$92,412$90,753$85,470
3 years$64,490$62,662$60,903$59,209$57,578$52,459
4 years$47,885$46,063$44,322$42,657$41,065$36,151
5 years$37,925$36,114$34,396$32,765$31,217$26,521
6 years$31,287$29,490$27,797$26,202$24,701$20,228
7 years$26,548$24,766$23,099$21,542$20,088$15,838
8 years$22,995$21,229$19,590$18,071$16,665$12,635
9 years$20,233$18,483$16,873$15,393$14,035$10,221
10 years$18,025$16,292$14,710$13,269$11,958$8,356
11 years$16,219$14,504$12,951$11,548$10,284$6,889
12 years$14,715$13,018$11,493$10,129$8,912$5,716
13 years$13,444$11,764$10,268$8,942$7,772$4,768
14 years$12,355$10,694$9,226$7,938$6,813$3,994
15 years$11,413$9,769$8,330$7,079$5,998$3,358
16 years$10,589$8,963$7,552$6,339$5,301$2,831
17 years$9,862$8,254$6,872$5,695$4,701$2,392
18 years$9,217$7,627$6,274$5,133$4,180$2,026
19 years$8,641$7,069$5,743$4,638$3,725$1,718
20 years$8,123$6,569$5,271$4,200$3,327$1,460
21 years$7,655$6,119$4,848$3,812$2,978$1,241
22 years$7,230$5,711$4,468$3,466$2,669$1,057
23 years$6,842$5,342$4,126$3,157$2,396$900
24 years$6,488$5,005$3,816$2,879$2,154$768
25 years$6,162$4,697$3,534$2,629$1,938$655
26 years$5,862$4,414$3,278$2,404$1,746$559
27 years$5,584$4,154$3,044$2,201$1,574$477
28 years$5,327$3,915$2,829$2,016$1,420$408
29 years$5,088$3,693$2,633$1,849$1,282$348
30 years$4,865$3,488$2,453$1,697$1,159$298
31 years$4,657$3,297$2,286$1,558$1,047$255
32 years$4,463$3,120$2,133$1,432$948$218
33 years$4,280$2,954$1,992$1,317$858$186
34 years$4,109$2,800$1,861$1,212$776$159
35 years$3,948$2,656$1,740$1,115$703$136
36 years$3,796$2,521$1,628$1,027$637$117
37 years$3,653$2,394$1,523$947$577$100
38 years$3,517$2,275$1,427$872$524$85
39 years$3,389$2,164$1,337$804$475$73
40 years$3,268$2,058$1,253$742$431$63
41 years$3,152$1,959$1,175$685$391$54
42 years$3,043$1,866$1,102$632$354$46
43 years$2,939$1,778$1,034$583$322$39
44 years$2,840$1,695$971$538$292$34
45 years$2,745$1,616$911$497$265$29
46 years$2,655$1,542$856$459$241$25
47 years$2,569$1,471$804$424$219$21
48 years$2,487$1,405$756$392$198$18
49 years$2,409$1,341$710$362$180$15
50 years$2,333$1,281$668$335$164$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,390,000, adding $2,547 every year, while hoping to spend $52,452 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: 77/17/6 Blend
70$2,390,000$2,390,000$2,390,000$2,390,000
71$2,636,407$2,509,737$2,472,692$2,837,757
72$2,849,512$2,576,906$2,499,719$3,037,433
73$3,082,596$2,645,608$2,525,893$3,249,244
74$3,337,641$2,715,863$2,551,131$3,479,915
75$3,616,830$2,787,690$2,575,343$3,731,295
76$3,922,567$2,861,107$2,598,437$4,005,421
77$4,257,499$2,936,131$2,620,315$4,304,537
78$4,624,541$3,012,779$2,640,873$4,631,112
79$5,026,904$3,091,065$2,660,002$4,987,869
80$5,468,124$3,171,003$2,677,588$5,377,801
81$5,952,095$3,252,604$2,693,510$5,804,210
82$6,483,108$3,335,880$2,707,641$6,270,728
83$7,065,886$3,420,840$2,719,848$6,781,360
84$7,705,635$3,507,490$2,729,992$7,340,514
85$8,408,088$3,595,835$2,737,924$7,953,046
86$9,179,560$3,685,878$2,743,492$8,624,307
87$10,027,008$3,777,619$2,746,532$9,360,191
88$10,958,097$3,871,057$2,746,875$10,167,190
89$11,981,269$3,966,185$2,744,342$11,052,457
90$13,105,827$4,062,996$2,738,746$12,023,871
91$14,342,017$4,161,479$2,729,889$13,090,114
92$15,701,130$4,261,618$2,717,567$14,260,751
93$17,195,603$4,363,395$2,701,564$15,546,319
94$18,839,141$4,466,788$2,681,652$16,958,429
95$20,646,841$4,571,768$2,657,596$18,509,874
96$22,635,339$4,678,305$2,629,146$20,214,748
97$24,822,964$4,786,362$2,596,042$22,088,581
98$27,229,909$4,895,897$2,558,012$24,148,484
99$29,878,425$5,006,861$2,514,771$26,413,313
100$32,793,028$5,119,201$2,466,020$28,903,842