Can I retire at age 71 with 2,490,000?

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 $2,490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$205,622$203,790$202,003$200,259$198,556$193,442
2 years$101,793$99,897$98,060$96,278$94,551$89,432
3 years$67,188$65,284$63,451$61,687$59,987$55,024
4 years$49,889$47,991$46,176$44,442$42,783$38,015
5 years$39,512$37,625$35,835$34,135$32,523$27,962
6 years$32,596$30,724$28,960$27,298$25,734$21,385
7 years$27,659$25,802$24,066$22,444$20,929$16,792
8 years$23,957$22,117$20,410$18,827$17,363$13,435
9 years$21,079$19,257$17,579$16,037$14,622$10,901
10 years$18,779$16,974$15,326$13,824$12,458$8,940
11 years$16,898$15,111$13,492$12,031$10,715$7,393
12 years$15,331$13,563$11,974$10,553$9,285$6,155
13 years$14,007$12,257$10,698$9,316$8,097$5,151
14 years$12,872$11,141$9,612$8,270$7,098$4,330
15 years$11,890$10,178$8,679$7,375$6,249$3,653
16 years$11,032$9,338$7,868$6,604$5,523$3,091
17 years$10,275$8,600$7,160$5,934$4,897$2,622
18 years$9,603$7,946$6,536$5,347$4,354$2,228
19 years$9,002$7,365$5,984$4,832$3,881$1,897
20 years$8,463$6,844$5,491$4,376$3,467$1,618
21 years$7,975$6,375$5,051$3,972$3,102$1,381
22 years$7,532$5,950$4,655$3,611$2,781$1,180
23 years$7,129$5,565$4,298$3,289$2,496$1,009
24 years$6,759$5,214$3,975$2,999$2,244$864
25 years$6,420$4,893$3,682$2,739$2,019$740
26 years$6,107$4,599$3,415$2,505$1,819$634
27 years$5,818$4,328$3,171$2,293$1,640$544
28 years$5,550$4,078$2,948$2,100$1,479$467
29 years$5,301$3,848$2,743$1,926$1,336$400
30 years$5,069$3,634$2,555$1,768$1,207$344
31 years$4,852$3,435$2,382$1,624$1,091$295
32 years$4,649$3,250$2,223$1,492$987$253
33 years$4,459$3,078$2,075$1,372$893$218
34 years$4,281$2,917$1,939$1,262$809$187
35 years$4,113$2,767$1,813$1,162$733$161
36 years$3,955$2,626$1,696$1,070$664$138
37 years$3,805$2,494$1,587$986$602$119
38 years$3,664$2,370$1,486$909$545$102
39 years$3,531$2,254$1,393$838$495$88
40 years$3,404$2,145$1,305$773$449$75
41 years$3,284$2,041$1,224$713$407$65
42 years$3,170$1,944$1,148$658$369$56
43 years$3,062$1,852$1,077$608$335$48
44 years$2,958$1,766$1,011$561$304$41
45 years$2,860$1,684$950$518$276$35
46 years$2,766$1,606$892$479$251$30
47 years$2,677$1,533$838$442$228$26
48 years$2,591$1,463$787$409$207$22
49 years$2,509$1,397$740$378$188$19
50 years$2,431$1,335$696$349$171$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,490,000, adding $6,992 every year, while hoping to spend $36,225 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: 75/17/8 Blend
70$2,490,000$2,490,000$2,490,000$2,490,000
71$2,751,192$2,619,222$2,580,627$2,953,681
72$2,993,271$2,709,021$2,628,535$3,177,738
73$3,258,827$2,802,006$2,676,834$3,417,902
74$3,550,218$2,898,295$2,725,498$3,680,041
75$3,870,039$2,998,010$2,774,501$3,966,320
76$4,221,149$3,101,278$2,823,813$4,279,122
77$4,606,698$3,208,232$2,873,402$4,621,071
78$5,030,155$3,319,010$2,923,235$4,995,058
79$5,495,342$3,433,753$2,973,275$5,404,262
80$6,006,470$3,552,610$3,023,483$5,852,188
81$6,568,177$3,675,734$3,073,816$6,342,694
82$7,185,573$3,803,287$3,124,231$6,880,027
83$7,864,288$3,935,435$3,174,679$7,468,866
84$8,610,524$4,072,350$3,225,110$8,114,366
85$9,431,114$4,214,212$3,275,468$8,822,200
86$10,333,588$4,361,209$3,325,696$9,598,620
87$11,326,240$4,513,534$3,375,733$10,450,512
88$12,418,209$4,671,389$3,425,513$11,385,460
89$13,619,564$4,834,986$3,474,966$12,411,818
90$14,941,401$5,004,542$3,524,018$13,538,788
91$16,395,944$5,180,284$3,572,593$14,776,510
92$17,996,661$5,362,449$3,620,606$16,136,149
93$19,758,394$5,551,282$3,667,969$17,630,010
94$21,697,495$5,747,039$3,714,591$19,271,644
95$23,831,982$5,949,987$3,760,372$21,075,985
96$26,181,709$6,160,401$3,805,210$23,059,482
97$28,768,553$6,378,570$3,848,994$25,240,258
98$31,616,618$6,604,793$3,891,608$27,638,280
99$34,752,467$6,839,382$3,932,930$30,275,548
100$38,205,367$7,082,660$3,972,832$33,176,298