Can I retire at age 71 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$198,190$196,424$194,702$193,021$191,379$187,977
2 years$98,114$96,286$94,516$92,799$91,133$87,717
3 years$64,759$62,924$61,158$59,457$57,819$54,495
4 years$48,086$46,256$44,507$42,835$41,237$38,031
5 years$38,084$36,265$34,539$32,902$31,347$28,269
6 years$31,418$29,613$27,913$26,312$24,804$21,857
7 years$26,659$24,869$23,196$21,632$20,172$17,357
8 years$23,091$21,318$19,672$18,147$16,735$14,050
9 years$20,318$18,561$16,943$15,457$14,093$11,538
10 years$18,100$16,360$14,772$13,324$12,008$9,580
11 years$16,287$14,565$13,005$11,596$10,327$8,024
12 years$14,777$13,072$11,541$10,171$8,950$6,767
13 years$13,500$11,814$10,311$8,980$7,804$5,740
14 years$12,407$10,738$9,265$7,971$6,841$4,891
15 years$11,460$9,810$8,365$7,109$6,023$4,184
16 years$10,633$9,000$7,584$6,365$5,324$3,590
17 years$9,904$8,289$6,901$5,719$4,720$3,090
18 years$9,256$7,659$6,300$5,154$4,197$2,665
19 years$8,677$7,099$5,767$4,657$3,741$2,303
20 years$8,157$6,596$5,293$4,218$3,341$1,993
21 years$7,687$6,144$4,868$3,828$2,990$1,728
22 years$7,260$5,735$4,487$3,481$2,680$1,500
23 years$6,871$5,364$4,143$3,170$2,406$1,303
24 years$6,515$5,026$3,832$2,891$2,163$1,133
25 years$6,188$4,717$3,549$2,640$1,946$986
26 years$5,886$4,433$3,291$2,414$1,753$859
27 years$5,607$4,172$3,056$2,210$1,580$748
28 years$5,349$3,931$2,841$2,025$1,426$652
29 years$5,109$3,708$2,644$1,857$1,288$569
30 years$4,885$3,502$2,463$1,704$1,163$497
31 years$4,677$3,311$2,296$1,565$1,052$433
32 years$4,481$3,133$2,142$1,438$951$378
33 years$4,298$2,967$2,000$1,323$861$331
34 years$4,126$2,812$1,869$1,217$780$289
35 years$3,964$2,667$1,747$1,120$706$252
36 years$3,812$2,531$1,634$1,032$640$220
37 years$3,668$2,404$1,530$951$580$193
38 years$3,532$2,285$1,433$876$526$168
39 years$3,403$2,173$1,342$808$477$147
40 years$3,281$2,067$1,258$745$432$129
41 years$3,165$1,968$1,180$687$392$113
42 years$3,056$1,874$1,107$634$356$98
43 years$2,951$1,785$1,038$586$323$86
44 years$2,852$1,702$975$541$293$75
45 years$2,757$1,623$915$499$266$66
46 years$2,666$1,548$860$461$242$58
47 years$2,580$1,477$808$426$219$50
48 years$2,498$1,410$759$394$199$44
49 years$2,419$1,347$713$364$181$39
50 years$2,343$1,287$671$336$164$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,400,000, adding $6,827 every year, while hoping to spend $47,506 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: 37/39/24 Blend
70$2,400,000$2,400,000$2,400,000$2,400,000
71$2,651,842$2,524,642$2,487,442$2,730,647
72$2,871,784$2,597,803$2,520,225$2,862,125
73$3,112,568$2,672,958$2,552,515$2,999,161
74$3,376,269$2,750,152$2,584,243$3,146,240
75$3,665,174$2,829,435$2,615,341$3,304,297
76$3,981,799$2,910,855$2,645,733$3,474,359
77$4,328,918$2,994,462$2,675,340$3,657,559
78$4,709,584$3,080,307$2,704,080$3,855,141
79$5,127,160$3,168,440$2,731,865$4,068,476
80$5,585,350$3,258,914$2,758,603$4,299,072
81$6,088,236$3,351,780$2,784,195$4,548,592
82$6,640,310$3,447,092$2,808,540$4,818,863
83$7,246,525$3,544,903$2,831,530$5,111,900
84$7,912,335$3,645,267$2,853,050$5,429,920
85$8,643,747$3,748,239$2,872,981$5,775,366
86$9,447,380$3,853,874$2,891,197$6,150,929
87$10,330,526$3,962,227$2,907,565$6,559,570
88$11,301,217$4,073,354$2,921,946$7,004,555
89$12,368,304$4,187,310$2,934,194$7,489,477
90$13,541,536$4,304,153$2,944,154$8,018,298
91$14,831,655$4,423,939$2,951,666$8,595,381
92$16,250,495$4,546,725$2,956,559$9,225,531
93$17,811,098$4,672,566$2,958,655$9,914,046
94$19,527,827$4,801,519$2,957,768$10,666,760
95$21,416,513$4,933,641$2,953,701$11,490,101
96$23,494,596$5,068,988$2,946,248$12,391,152
97$25,781,291$5,207,615$2,935,194$13,377,718
98$28,297,772$5,349,578$2,920,312$14,458,400
99$31,067,369$5,494,930$2,901,366$15,642,672
100$34,115,785$5,643,727$2,878,107$16,940,977