Can I retire at age 71 with 2,720,000?

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 $2,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$224,615$222,614$220,662$218,757$216,897$212,691
2 years$111,196$109,125$107,118$105,172$103,284$99,064
3 years$73,394$71,314$69,312$67,384$65,528$61,425
4 years$54,497$52,423$50,442$48,547$46,735$42,781
5 years$43,162$41,101$39,145$37,289$35,527$31,733
6 years$35,607$33,562$31,635$29,820$28,111$24,482
7 years$30,213$28,185$26,289$24,517$22,862$19,398
8 years$26,170$24,160$22,295$20,566$18,966$15,666
9 years$23,027$21,035$19,203$17,518$15,972$12,834
10 years$20,513$18,542$16,741$15,101$13,609$10,630
11 years$18,458$16,507$14,739$13,142$11,704$8,881
12 years$16,747$14,815$13,080$11,527$10,143$7,471
13 years$15,300$13,389$11,686$10,177$8,845$6,320
14 years$14,061$12,170$10,500$9,034$7,753$5,371
15 years$12,988$11,118$9,480$8,057$6,827$4,581
16 years$12,051$10,200$8,595$7,214$6,033$3,921
17 years$11,224$9,394$7,821$6,482$5,350$3,364
18 years$10,490$8,680$7,140$5,841$4,757$2,893
19 years$9,834$8,045$6,536$5,278$4,240$2,493
20 years$9,244$7,476$5,999$4,780$3,787$2,151
21 years$8,712$6,963$5,518$4,338$3,389$1,859
22 years$8,228$6,500$5,085$3,945$3,038$1,609
23 years$7,787$6,079$4,695$3,592$2,727$1,393
24 years$7,383$5,696$4,342$3,277$2,451$1,208
25 years$7,013$5,345$4,022$2,992$2,205$1,048
26 years$6,671$5,024$3,730$2,736$1,987$910
27 years$6,355$4,728$3,464$2,504$1,791$790
28 years$6,062$4,455$3,220$2,295$1,616$687
29 years$5,790$4,203$2,997$2,104$1,459$597
30 years$5,537$3,969$2,791$1,931$1,319$519
31 years$5,300$3,752$2,602$1,774$1,192$452
32 years$5,079$3,550$2,428$1,630$1,078$393
33 years$4,871$3,362$2,267$1,499$976$342
34 years$4,676$3,187$2,118$1,379$884$298
35 years$4,493$3,023$1,980$1,270$800$259
36 years$4,320$2,869$1,852$1,169$725$226
37 years$4,157$2,725$1,734$1,077$657$197
38 years$4,003$2,589$1,624$993$596$171
39 years$3,857$2,462$1,521$916$540$149
40 years$3,719$2,343$1,426$844$490$130
41 years$3,588$2,230$1,337$779$445$113
42 years$3,463$2,124$1,254$719$403$99
43 years$3,345$2,024$1,177$664$366$86
44 years$3,232$1,929$1,105$613$332$75
45 years$3,124$1,839$1,037$566$302$65
46 years$3,022$1,755$974$523$274$57
47 years$2,924$1,674$915$483$249$50
48 years$2,831$1,599$860$446$226$43
49 years$2,741$1,526$808$412$205$38
50 years$2,656$1,458$760$381$186$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,720,000, adding $4,112 every year, while hoping to spend $52,095 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: 34/42/24 Blend
70$2,720,000$2,720,000$2,720,000$2,720,000
71$3,001,682$2,857,522$2,815,362$3,081,691
72$3,252,424$2,942,111$2,854,247$3,226,330
73$3,526,997$3,029,100$2,892,690$3,377,178
74$3,827,775$3,118,550$2,930,620$3,538,806
75$4,157,375$3,210,526$2,967,962$3,712,203
76$4,518,677$3,305,092$3,004,639$3,898,458
77$4,914,856$3,402,315$3,040,568$4,098,770
78$5,349,406$3,502,264$3,075,662$4,314,456
79$5,826,177$3,605,006$3,109,828$4,546,967
80$6,349,410$3,710,614$3,142,970$4,797,898
81$6,923,774$3,819,159$3,174,984$5,069,006
82$7,554,416$3,930,714$3,205,763$5,362,224
83$8,247,002$4,045,355$3,235,191$5,679,681
84$9,007,776$4,163,157$3,263,150$6,023,719
85$9,843,615$4,284,198$3,289,512$6,396,919
86$10,762,098$4,408,557$3,314,144$6,802,122
87$11,771,570$4,536,315$3,336,906$7,242,454
88$12,881,228$4,667,552$3,357,650$7,721,363
89$14,101,203$4,802,352$3,376,222$8,242,642
90$15,442,658$4,940,799$3,392,457$8,810,469
91$16,917,889$5,082,979$3,406,185$9,429,449
92$18,540,447$5,228,978$3,417,225$10,104,651
93$20,325,259$5,378,885$3,425,389$10,841,660
94$22,288,773$5,532,788$3,430,477$11,646,630
95$24,449,112$5,690,777$3,432,281$12,526,339
96$26,826,241$5,852,946$3,430,583$13,488,254
97$29,442,162$6,019,385$3,425,152$14,540,603
98$32,321,116$6,190,188$3,415,748$15,692,450
99$35,489,813$6,365,450$3,402,119$16,953,781
100$38,977,683$6,545,266$3,383,999$18,335,600