Can I retire at age 71 with 2,460,000?

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 $2,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$203,145$201,335$199,570$197,846$196,164$193,232
2 years$100,567$98,694$96,878$95,118$93,411$90,465
3 years$66,378$64,497$62,687$60,943$59,264$56,394
4 years$49,288$47,412$45,620$43,906$42,268$39,496
5 years$39,036$37,172$35,403$33,724$32,131$29,466
6 years$32,204$30,354$28,611$26,970$25,424$22,868
7 years$27,325$25,491$23,776$22,173$20,677$18,231
8 years$23,668$21,850$20,164$18,600$17,153$14,818
9 years$20,825$19,025$17,367$15,843$14,446$12,219
10 years$18,552$16,769$15,141$13,657$12,308$10,189
11 years$16,694$14,929$13,330$11,886$10,586$8,571
12 years$15,146$13,399$11,830$10,426$9,173$7,262
13 years$13,838$12,109$10,569$9,204$7,999$6,188
14 years$12,717$11,007$9,496$8,170$7,012$5,298
15 years$11,747$10,055$8,574$7,287$6,174$4,553
16 years$10,899$9,225$7,774$6,524$5,457$3,927
17 years$10,151$8,496$7,074$5,862$4,838$3,396
18 years$9,487$7,851$6,457$5,283$4,302$2,944
19 years$8,894$7,276$5,911$4,774$3,834$2,557
20 years$8,361$6,761$5,425$4,323$3,425$2,225
21 years$7,879$6,298$4,990$3,924$3,065$1,939
22 years$7,441$5,879$4,599$3,568$2,747$1,692
23 years$7,043$5,498$4,247$3,249$2,466$1,478
24 years$6,678$5,152$3,927$2,963$2,217$1,292
25 years$6,342$4,834$3,637$2,706$1,995$1,131
26 years$6,033$4,544$3,374$2,474$1,797$990
27 years$5,748$4,276$3,133$2,265$1,620$868
28 years$5,483$4,029$2,912$2,075$1,462$761
29 years$5,237$3,801$2,710$1,903$1,320$668
30 years$5,007$3,590$2,524$1,746$1,193$586
31 years$4,793$3,394$2,353$1,604$1,078$514
32 years$4,593$3,211$2,196$1,474$975$452
33 years$4,405$3,041$2,050$1,356$883$397
34 years$4,229$2,882$1,916$1,247$799$349
35 years$4,063$2,734$1,791$1,148$724$306
36 years$3,907$2,595$1,675$1,057$656$269
37 years$3,760$2,464$1,568$974$594$237
38 years$3,620$2,342$1,468$898$539$208
39 years$3,488$2,227$1,376$828$489$183
40 years$3,363$2,119$1,290$764$443$161
41 years$3,245$2,017$1,209$705$402$142
42 years$3,132$1,921$1,134$650$365$125
43 years$3,025$1,830$1,064$600$331$110
44 years$2,923$1,744$999$554$301$97
45 years$2,826$1,664$938$512$273$85
46 years$2,733$1,587$881$473$248$75
47 years$2,645$1,514$828$437$225$66
48 years$2,560$1,446$778$404$204$58
49 years$2,479$1,381$731$373$186$51
50 years$2,402$1,319$687$345$169$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,460,000, adding $4,905 every year, while hoping to spend $32,911 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: 60/22/18 Blend
70$2,460,000$2,460,000$2,460,000$2,460,000
71$2,715,980$2,585,600$2,547,470$2,866,021
72$2,957,992$2,677,277$2,597,793$3,059,686
73$3,223,588$2,772,343$2,648,699$3,266,793
74$3,515,136$2,870,930$2,700,172$3,491,980
75$3,835,248$2,973,174$2,752,196$3,737,004
76$4,186,801$3,079,218$2,804,753$4,003,795
77$4,572,964$3,189,209$2,857,821$4,294,480
78$4,997,227$3,303,301$2,911,380$4,611,397
79$5,463,437$3,421,655$2,965,403$4,957,122
80$5,975,830$3,544,438$3,019,866$5,334,491
81$6,539,073$3,671,824$3,074,740$5,746,624
82$7,158,308$3,803,994$3,129,994$6,196,957
83$7,839,202$3,941,136$3,185,595$6,689,274
84$8,587,995$4,083,446$3,241,507$7,227,741
85$9,411,565$4,231,129$3,297,692$7,816,944
86$10,317,488$4,384,397$3,354,108$8,461,936
87$11,314,112$4,543,474$3,410,711$9,168,278
88$12,410,636$4,708,588$3,467,454$9,942,097
89$13,617,193$4,879,981$3,524,286$10,790,141
90$14,944,950$5,057,904$3,581,153$11,719,840
91$16,406,211$5,242,617$3,637,998$12,739,379
92$18,014,532$5,434,393$3,694,758$13,857,773
93$19,784,851$5,633,515$3,751,369$15,084,952
94$21,733,626$5,840,278$3,807,761$16,431,855
95$23,878,995$6,054,990$3,863,859$17,910,530
96$26,240,940$6,277,972$3,919,586$19,534,251
97$28,841,481$6,509,558$3,974,858$21,317,637
98$31,704,883$6,750,097$4,029,586$23,276,798
99$34,857,881$6,999,951$4,083,677$25,429,477
100$38,329,936$7,259,501$4,137,032$27,795,223