Can I retire at age 71 with 2,410,000?

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 $2,410,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$199,016$197,243$195,513$193,825$192,177$191,126
2 years$98,523$96,688$94,909$93,185$91,513$90,452
3 years$65,029$63,186$61,413$59,705$58,059$57,022
4 years$48,286$46,449$44,693$43,014$41,408$40,403
5 years$38,243$36,416$34,683$33,039$31,478$30,507
6 years$31,549$29,737$28,029$26,421$24,908$23,972
7 years$26,770$24,973$23,292$21,722$20,256$19,357
8 years$23,187$21,406$19,754$18,222$16,805$15,941
9 years$20,402$18,638$17,014$15,521$14,152$13,324
10 years$18,175$16,429$14,833$13,380$12,058$11,266
11 years$16,355$14,625$13,059$11,644$10,370$9,613
12 years$14,839$13,127$11,589$10,214$8,987$8,263
13 years$13,557$11,863$10,354$9,017$7,837$7,147
14 years$12,459$10,783$9,303$8,004$6,870$6,212
15 years$11,508$9,851$8,400$7,138$6,049$5,423
16 years$10,677$9,038$7,616$6,392$5,346$4,752
17 years$9,945$8,323$6,930$5,743$4,740$4,176
18 years$9,294$7,691$6,326$5,176$4,214$3,680
19 years$8,713$7,128$5,791$4,677$3,756$3,250
20 years$8,191$6,624$5,315$4,236$3,355$2,876
21 years$7,719$6,170$4,889$3,844$3,003$2,550
22 years$7,290$5,759$4,506$3,495$2,691$2,264
23 years$6,899$5,387$4,160$3,183$2,416$2,012
24 years$6,542$5,047$3,848$2,903$2,172$1,791
25 years$6,213$4,736$3,564$2,651$1,954$1,596
26 years$5,911$4,451$3,305$2,424$1,760$1,423
27 years$5,631$4,189$3,069$2,219$1,587$1,270
28 years$5,371$3,947$2,853$2,033$1,432$1,134
29 years$5,130$3,724$2,655$1,864$1,293$1,014
30 years$4,906$3,517$2,473$1,711$1,168$907
31 years$4,696$3,325$2,306$1,571$1,056$811
32 years$4,500$3,146$2,151$1,444$955$726
33 years$4,316$2,979$2,008$1,328$865$650
34 years$4,143$2,823$1,877$1,222$783$582
35 years$3,981$2,678$1,755$1,125$709$522
36 years$3,828$2,542$1,641$1,036$642$468
37 years$3,683$2,414$1,536$954$582$419
38 years$3,547$2,294$1,439$880$528$376
39 years$3,417$2,182$1,348$811$479$337
40 years$3,295$2,076$1,263$748$434$302
41 years$3,179$1,976$1,185$690$394$271
42 years$3,068$1,882$1,111$637$357$243
43 years$2,963$1,793$1,043$588$324$219
44 years$2,863$1,709$979$543$294$196
45 years$2,768$1,630$919$501$267$176
46 years$2,677$1,555$863$463$243$158
47 years$2,591$1,484$811$428$220$142
48 years$2,508$1,416$762$395$200$127
49 years$2,429$1,353$716$365$182$114
50 years$2,353$1,292$673$338$165$103

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,410,000, adding $4,873 every year, while hoping to spend $59,121 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: 58/30/12 Blend
70$2,410,000$2,410,000$2,410,000$2,410,000
71$2,660,846$2,533,116$2,495,761$2,807,011
72$2,869,349$2,594,335$2,516,465$2,967,401
73$3,097,136$2,656,572$2,535,881$3,135,142
74$3,346,115$2,719,814$2,553,903$3,316,576
75$3,618,380$2,784,047$2,570,421$3,513,024
76$3,916,242$2,849,252$2,585,318$3,725,942
77$4,242,243$2,915,410$2,598,470$3,956,935
78$4,599,182$2,982,495$2,609,749$4,207,767
79$4,990,143$3,050,481$2,619,019$4,480,384
80$5,418,519$3,119,336$2,626,138$4,776,928
81$5,888,050$3,189,026$2,630,956$5,099,760
82$6,402,854$3,259,511$2,633,315$5,451,480
83$6,967,465$3,330,748$2,633,052$5,834,953
84$7,586,880$3,402,688$2,629,993$6,253,336
85$8,266,601$3,475,278$2,623,956$6,710,105
86$9,012,687$3,548,460$2,614,752$7,209,094
87$9,831,816$3,622,169$2,602,181$7,754,523
88$10,731,340$3,696,334$2,586,033$8,351,046
89$11,719,361$3,770,879$2,566,089$9,003,789
90$12,804,804$3,845,720$2,542,121$9,718,402
91$13,997,498$3,920,765$2,513,886$10,501,109
92$15,308,276$3,995,915$2,481,134$11,358,771
93$16,749,068$4,071,063$2,443,600$12,298,949
94$18,333,020$4,146,092$2,401,009$13,329,974
95$20,074,616$4,220,878$2,353,070$14,461,027
96$21,989,810$4,295,285$2,299,481$15,702,227
97$24,096,183$4,369,166$2,239,926$17,064,726
98$26,413,104$4,442,365$2,174,074$18,560,813
99$28,961,912$4,514,713$2,101,577$20,204,032
100$31,766,121$4,586,028$2,022,074$22,009,310