Can I retire at age 71 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$204,796$202,972$201,192$199,455$197,759$191,199
2 years$101,384$99,496$97,666$95,892$94,171$87,625
3 years$66,918$65,022$63,196$61,439$59,746$53,421
4 years$49,688$47,798$45,991$44,263$42,611$36,554
5 years$39,353$37,474$35,691$33,998$32,392$26,620
6 years$32,465$30,600$28,843$27,189$25,631$20,148
7 years$27,548$25,698$23,969$22,353$20,845$15,650
8 years$23,861$22,028$20,328$18,752$17,293$12,383
9 years$20,995$19,179$17,508$15,972$14,563$9,932
10 years$18,703$16,906$15,264$13,768$12,408$8,049
11 years$16,830$15,050$13,438$11,983$10,672$6,576
12 years$15,270$13,508$11,926$10,510$9,248$5,406
13 years$13,950$12,207$10,655$9,279$8,064$4,467
14 years$12,821$11,096$9,574$8,237$7,069$3,706
15 years$11,842$10,137$8,644$7,346$6,224$3,084
16 years$10,987$9,300$7,837$6,577$5,501$2,574
17 years$10,234$8,565$7,131$5,910$4,878$2,153
18 years$9,564$7,915$6,510$5,326$4,337$1,805
19 years$8,966$7,335$5,959$4,812$3,866$1,515
20 years$8,429$6,816$5,469$4,359$3,453$1,273
21 years$7,943$6,349$5,031$3,956$3,090$1,071
22 years$7,502$5,927$4,637$3,597$2,770$902
23 years$7,100$5,543$4,281$3,275$2,486$760
24 years$6,732$5,193$3,959$2,987$2,235$641
25 years$6,394$4,874$3,667$2,728$2,011$541
26 years$6,082$4,581$3,401$2,495$1,811$456
27 years$5,794$4,311$3,158$2,283$1,633$385
28 years$5,527$4,062$2,936$2,092$1,474$325
29 years$5,279$3,832$2,732$1,918$1,331$275
30 years$5,048$3,619$2,545$1,761$1,202$232
31 years$4,832$3,421$2,373$1,617$1,087$196
32 years$4,631$3,237$2,214$1,486$983$166
33 years$4,441$3,066$2,067$1,367$890$140
34 years$4,264$2,905$1,931$1,257$806$119
35 years$4,096$2,756$1,805$1,157$730$100
36 years$3,939$2,616$1,689$1,066$661$85
37 years$3,790$2,484$1,581$982$599$72
38 years$3,650$2,361$1,480$905$543$61
39 years$3,517$2,245$1,387$835$493$51
40 years$3,391$2,136$1,300$770$447$43
41 years$3,271$2,033$1,219$710$405$37
42 years$3,157$1,936$1,143$656$368$31
43 years$3,049$1,845$1,073$605$334$26
44 years$2,947$1,759$1,007$559$303$22
45 years$2,849$1,677$946$516$275$19
46 years$2,755$1,600$888$477$250$16
47 years$2,666$1,527$834$440$227$13
48 years$2,581$1,457$784$407$206$11
49 years$2,499$1,392$737$376$187$10
50 years$2,421$1,330$693$348$170$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,480,000, adding $6,079 every year, while hoping to spend $54,464 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: 59/17/24 Blend
70$2,480,000$2,480,000$2,480,000$2,480,000
71$2,739,230$2,607,790$2,569,350$2,882,862
72$2,960,683$2,677,623$2,597,474$3,051,191
73$3,202,898$2,749,052$2,624,715$3,228,309
74$3,467,936$2,822,098$2,650,986$3,420,317
75$3,758,065$2,896,781$2,676,194$3,628,673
76$4,075,785$2,973,120$2,700,243$3,854,980
77$4,423,845$3,051,133$2,723,032$4,101,005
78$4,805,276$3,130,837$2,744,452$4,368,694
79$5,223,414$3,212,248$2,764,391$4,660,191
80$5,681,934$3,295,380$2,782,730$4,977,859
81$6,184,884$3,380,247$2,799,344$5,324,301
82$6,736,722$3,466,858$2,814,101$5,702,385
83$7,342,358$3,555,224$2,826,864$6,115,272
84$8,007,201$3,645,353$2,837,487$6,566,444
85$8,737,210$3,737,250$2,845,817$7,059,738
86$9,538,948$3,830,917$2,851,694$7,599,383
87$10,419,645$3,926,357$2,854,950$8,190,037
88$11,387,266$4,023,566$2,855,409$8,836,837
89$12,450,587$4,122,540$2,852,885$9,545,440
90$13,619,274$4,223,272$2,847,183$10,322,083
91$14,903,976$4,325,749$2,838,101$11,173,637
92$16,316,428$4,429,957$2,825,423$12,107,676
93$17,869,556$4,535,876$2,808,927$13,132,545
94$19,577,601$4,643,485$2,788,377$14,257,443
95$21,456,256$4,752,755$2,763,527$15,492,505
96$23,522,808$4,863,654$2,734,119$16,848,904
97$25,796,306$4,976,145$2,699,883$18,338,949
98$28,297,737$5,090,184$2,660,537$19,976,211
99$31,050,226$5,205,723$2,615,785$21,775,640
100$34,079,251$5,322,705$2,565,316$23,753,718