Can I retire at age 71 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$201,493$199,698$197,947$196,238$194,569$192,297
2 years$99,749$97,891$96,091$94,345$92,652$90,365
3 years$65,839$63,973$62,177$60,448$58,782$56,552
4 years$48,887$47,027$45,249$43,549$41,924$39,767
5 years$38,719$36,870$35,115$33,450$31,870$29,792
6 years$31,942$30,107$28,378$26,750$25,218$23,222
7 years$27,103$25,284$23,582$21,993$20,509$18,596
8 years$23,476$21,673$20,000$18,449$17,014$15,184
9 years$20,656$18,870$17,226$15,715$14,328$12,580
10 years$18,402$16,633$15,018$13,546$12,208$10,542
11 years$16,558$14,807$13,221$11,789$10,500$8,912
12 years$15,023$13,290$11,734$10,341$9,099$7,589
13 years$13,725$12,011$10,483$9,129$7,934$6,500
14 years$12,614$10,917$9,419$8,104$6,955$5,595
15 years$11,651$9,973$8,504$7,227$6,124$4,836
16 years$10,810$9,150$7,710$6,471$5,412$4,193
17 years$10,069$8,427$7,016$5,814$4,799$3,647
18 years$9,410$7,787$6,405$5,240$4,267$3,180
19 years$8,822$7,217$5,863$4,735$3,803$2,778
20 years$8,293$6,706$5,381$4,288$3,397$2,432
21 years$7,815$6,247$4,950$3,892$3,040$2,132
22 years$7,381$5,831$4,562$3,539$2,725$1,872
23 years$6,985$5,454$4,212$3,223$2,446$1,645
24 years$6,623$5,110$3,895$2,939$2,199$1,447
25 years$6,291$4,795$3,608$2,684$1,978$1,275
26 years$5,984$4,507$3,346$2,454$1,782$1,123
27 years$5,701$4,241$3,107$2,247$1,607$991
28 years$5,438$3,997$2,889$2,058$1,450$874
29 years$5,194$3,770$2,688$1,888$1,309$772
30 years$4,967$3,561$2,504$1,732$1,183$682
31 years$4,754$3,366$2,334$1,591$1,069$603
32 years$4,556$3,185$2,178$1,462$967$533
33 years$4,370$3,016$2,033$1,345$875$471
34 years$4,195$2,859$1,900$1,237$793$417
35 years$4,030$2,711$1,776$1,139$718$369
36 years$3,875$2,573$1,662$1,049$650$326
37 years$3,729$2,444$1,555$966$590$289
38 years$3,591$2,323$1,457$891$534$256
39 years$3,460$2,209$1,365$821$485$227
40 years$3,336$2,102$1,279$758$440$201
41 years$3,218$2,000$1,199$699$399$178
42 years$3,106$1,905$1,125$645$362$157
43 years$3,000$1,815$1,056$595$328$139
44 years$2,899$1,730$991$550$298$124
45 years$2,803$1,650$930$508$271$109
46 years$2,711$1,574$874$469$246$97
47 years$2,623$1,502$821$433$223$86
48 years$2,539$1,434$772$400$203$76
49 years$2,459$1,369$725$370$184$67
50 years$2,382$1,308$682$342$167$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,440,000, adding $2,706 every year, while hoping to spend $22,484 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: 48/22/30 Blend
70$2,440,000$2,440,000$2,440,000$2,440,000
71$2,691,671$2,562,351$2,524,531$2,797,662
72$2,942,299$2,663,984$2,585,180$2,974,357
73$3,217,737$2,769,842$2,647,107$3,163,736
74$3,520,493$2,880,111$2,710,332$3,368,987
75$3,853,327$2,994,981$2,774,872$3,591,619
76$4,219,284$3,114,653$2,840,748$3,833,296
77$4,621,716$3,239,335$2,907,978$4,095,844
78$5,064,315$3,369,247$2,976,579$4,381,274
79$5,551,152$3,504,617$3,046,571$4,691,797
80$6,086,710$3,645,683$3,117,972$5,029,844
81$6,675,929$3,792,696$3,190,799$5,398,092
82$7,324,252$3,945,917$3,265,069$5,799,486
83$8,037,677$4,105,618$3,340,800$6,237,267
84$8,822,811$4,272,084$3,418,007$6,715,001
85$9,686,935$4,445,614$3,496,708$7,236,613
86$10,638,072$4,626,519$3,576,918$7,806,423
87$11,685,062$4,815,125$3,658,651$8,429,188
88$12,837,645$5,011,772$3,741,922$9,110,143
89$14,106,553$5,216,818$3,826,746$9,855,051
90$15,503,614$5,430,634$3,913,134$10,670,258
91$17,041,858$5,653,610$4,001,099$11,562,752
92$18,735,644$5,886,154$4,090,653$12,540,224
93$20,600,795$6,128,691$4,181,805$13,611,147
94$22,654,746$6,381,667$4,274,566$14,784,848
95$24,916,710$6,645,548$4,368,943$16,071,600
96$27,407,855$6,920,821$4,464,944$17,482,717
97$30,151,512$7,207,997$4,562,574$19,030,657
98$33,173,385$7,507,607$4,661,840$20,729,142
99$36,501,801$7,820,211$4,762,742$22,593,287
100$40,167,975$8,146,392$4,865,284$24,639,736