Can I retire at age 71 with 2,470,000?

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$203,970$202,153$200,381$198,651$196,961$195,556
2 years$100,975$99,095$97,272$95,505$93,791$92,374
3 years$66,648$64,760$62,942$61,191$59,505$58,120
4 years$49,488$47,605$45,805$44,085$42,439$41,097
5 years$39,195$37,323$35,547$33,861$32,262$30,967
6 years$32,335$30,477$28,727$27,079$25,528$24,281
7 years$27,436$25,595$23,872$22,263$20,761$19,563
8 years$23,765$21,939$20,246$18,676$17,223$16,074
9 years$20,910$19,102$17,438$15,908$14,504$13,404
10 years$18,628$16,838$15,202$13,713$12,358$11,306
11 years$16,762$14,989$13,384$11,934$10,629$9,624
12 years$15,208$13,454$11,878$10,468$9,211$8,252
13 years$13,894$12,158$10,612$9,242$8,032$7,119
14 years$12,769$11,052$9,535$8,204$7,041$6,172
15 years$11,795$10,096$8,609$7,316$6,199$5,374
16 years$10,943$9,263$7,805$6,551$5,479$4,695
17 years$10,192$8,531$7,102$5,886$4,858$4,115
18 years$9,526$7,883$6,484$5,304$4,319$3,616
19 years$8,930$7,306$5,935$4,793$3,850$3,184
20 years$8,395$6,789$5,447$4,341$3,439$2,810
21 years$7,911$6,323$5,010$3,940$3,077$2,484
22 years$7,472$5,903$4,618$3,582$2,758$2,199
23 years$7,071$5,521$4,264$3,262$2,476$1,949
24 years$6,705$5,172$3,943$2,975$2,226$1,729
25 years$6,368$4,854$3,652$2,717$2,003$1,536
26 years$6,058$4,562$3,387$2,485$1,804$1,365
27 years$5,771$4,293$3,145$2,274$1,626$1,215
28 years$5,505$4,046$2,924$2,084$1,468$1,081
29 years$5,258$3,817$2,721$1,911$1,325$963
30 years$5,028$3,604$2,535$1,754$1,197$859
31 years$4,813$3,407$2,363$1,611$1,083$766
32 years$4,612$3,224$2,205$1,480$979$683
33 years$4,423$3,053$2,058$1,361$886$610
34 years$4,246$2,894$1,923$1,252$802$544
35 years$4,080$2,745$1,798$1,153$727$486
36 years$3,923$2,605$1,682$1,062$658$434
37 years$3,775$2,474$1,574$978$597$388
38 years$3,635$2,351$1,474$902$541$347
39 years$3,502$2,236$1,381$831$491$310
40 years$3,377$2,127$1,295$767$445$277
41 years$3,258$2,025$1,214$707$404$248
42 years$3,145$1,929$1,139$653$366$222
43 years$3,037$1,838$1,069$603$332$198
44 years$2,935$1,752$1,003$557$302$177
45 years$2,837$1,670$942$514$274$159
46 years$2,744$1,593$885$475$249$142
47 years$2,655$1,521$831$439$226$127
48 years$2,570$1,452$781$405$205$114
49 years$2,489$1,386$734$375$186$102
50 years$2,412$1,324$690$346$169$91

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,470,000, adding $2,033 every year, while hoping to spend $53,651 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: 76/15/9 Blend
70$2,470,000$2,470,000$2,470,000$2,470,000
71$2,724,037$2,593,127$2,554,842$2,926,918
72$2,944,805$2,663,106$2,583,345$3,130,679
73$3,186,292$2,734,716$2,611,005$3,346,928
74$3,450,557$2,807,980$2,637,736$3,582,433
75$3,739,863$2,882,920$2,663,450$3,839,085
76$4,056,705$2,959,559$2,688,052$4,118,967
77$4,403,830$3,037,918$2,711,442$4,424,375
78$4,784,261$3,118,017$2,733,516$4,757,835
79$5,201,330$3,199,875$2,754,163$5,122,130
80$5,658,707$3,283,509$2,773,268$5,520,325
81$6,160,431$3,368,937$2,790,709$5,955,796
82$6,710,954$3,456,174$2,806,356$6,432,261
83$7,315,178$3,545,233$2,820,076$6,953,816
84$7,978,504$3,636,128$2,831,727$7,524,973
85$8,706,880$3,728,867$2,841,158$8,150,702
86$9,506,860$3,823,459$2,848,215$8,836,478
87$10,385,661$3,919,910$2,852,732$9,588,332
88$11,351,237$4,018,224$2,854,537$10,412,911
89$12,412,349$4,118,403$2,853,449$11,317,534
90$13,578,647$4,220,443$2,849,279$12,310,268
91$14,860,765$4,324,341$2,841,825$13,399,999
92$16,270,418$4,430,088$2,830,881$14,596,518
93$17,820,511$4,537,674$2,816,227$15,910,611
94$19,525,266$4,647,082$2,797,633$17,354,166
95$21,400,348$4,758,293$2,774,858$18,940,278
96$23,463,018$4,871,285$2,747,651$20,683,377
97$25,732,296$4,986,028$2,715,747$22,599,362
98$28,229,135$5,102,488$2,678,870$24,705,754
99$30,976,625$5,220,628$2,636,730$27,021,855
100$34,000,205$5,340,403$2,589,024$29,568,937