Can I retire at age 71 with 2,820,000?

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 $2,820,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$232,873$230,799$228,775$226,800$224,871$216,720
2 years$115,284$113,137$111,056$109,038$107,081$98,959
3 years$76,092$73,936$71,860$69,862$67,937$60,098
4 years$56,501$54,351$52,296$50,332$48,453$40,958
5 years$44,748$42,612$40,584$38,659$36,833$29,701
6 years$36,916$34,796$32,798$30,916$29,145$22,382
7 years$31,324$29,221$27,255$25,418$23,703$17,306
8 years$27,132$25,048$23,114$21,323$19,664$13,628
9 years$23,873$21,809$19,909$18,162$16,560$10,878
10 years$21,267$19,223$17,357$15,656$14,110$8,771
11 years$19,137$17,113$15,281$13,625$12,135$7,128
12 years$17,363$15,360$13,561$11,951$10,516$5,829
13 years$15,863$13,881$12,116$10,551$9,170$4,790
14 years$14,578$12,618$10,886$9,366$8,038$3,952
15 years$13,466$11,526$9,829$8,353$7,078$3,271
16 years$12,494$10,575$8,911$7,479$6,255$2,714
17 years$11,637$9,739$8,109$6,720$5,546$2,257
18 years$10,876$9,000$7,402$6,056$4,931$1,880
19 years$10,196$8,341$6,777$5,472$4,396$1,569
20 years$9,584$7,751$6,219$4,956$3,926$1,310
21 years$9,032$7,219$5,720$4,498$3,513$1,095
22 years$8,530$6,739$5,272$4,090$3,149$917
23 years$8,073$6,303$4,868$3,725$2,827$768
24 years$7,655$5,905$4,502$3,397$2,541$643
25 years$7,270$5,542$4,170$3,102$2,287$539
26 years$6,916$5,209$3,867$2,837$2,060$452
27 years$6,589$4,902$3,591$2,596$1,857$379
28 years$6,285$4,619$3,338$2,379$1,676$318
29 years$6,003$4,357$3,107$2,181$1,513$267
30 years$5,740$4,115$2,894$2,002$1,367$224
31 years$5,495$3,890$2,698$1,839$1,236$188
32 years$5,265$3,681$2,517$1,690$1,118$158
33 years$5,050$3,486$2,350$1,554$1,012$133
34 years$4,848$3,304$2,196$1,430$916$111
35 years$4,658$3,134$2,053$1,316$830$94
36 years$4,479$2,974$1,921$1,212$752$79
37 years$4,310$2,825$1,798$1,117$681$66
38 years$4,150$2,685$1,683$1,029$618$56
39 years$3,999$2,553$1,577$949$560$47
40 years$3,855$2,429$1,478$875$508$39
41 years$3,719$2,312$1,386$808$461$33
42 years$3,590$2,202$1,300$745$418$28
43 years$3,467$2,098$1,220$688$380$23
44 years$3,351$2,000$1,145$635$345$20
45 years$3,239$1,907$1,075$587$313$16
46 years$3,133$1,819$1,010$542$284$14
47 years$3,032$1,736$949$501$258$12
48 years$2,935$1,657$892$463$234$10
49 years$2,842$1,583$838$428$213$8
50 years$2,753$1,512$788$395$193$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $2,820,000, adding $6,330 every year, while hoping to spend $42,026 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: 51/44/5 Blend
70$2,820,000$2,820,000$2,820,000$2,820,000
71$3,114,169$2,964,709$2,920,999$3,269,068
72$3,387,099$3,065,265$2,974,138$3,475,475
73$3,686,460$3,169,339$3,027,647$3,694,629
74$4,014,902$3,277,060$3,081,497$3,931,831
75$4,375,346$3,388,560$3,135,651$4,188,784
76$4,771,010$3,503,978$3,190,074$4,467,356
77$5,205,437$3,623,457$3,244,726$4,769,604
78$5,682,531$3,747,146$3,299,564$5,097,787
79$6,206,592$3,875,199$3,354,542$5,454,393
80$6,782,357$4,007,776$3,409,611$5,842,154
81$7,415,045$4,145,045$3,464,721$6,264,079
82$8,110,405$4,287,178$3,519,814$6,723,475
83$8,874,771$4,434,354$3,574,833$7,223,982
84$9,715,121$4,586,761$3,629,713$7,769,606
85$10,639,144$4,744,592$3,684,389$8,364,752
86$11,655,308$4,908,049$3,738,788$9,014,272
87$12,772,947$5,077,341$3,792,835$9,723,502
88$14,002,343$5,252,685$3,846,449$10,498,318
89$15,354,823$5,434,308$3,899,546$11,345,187
90$16,842,869$5,622,444$3,952,036$12,271,227
91$18,480,235$5,817,337$4,003,822$13,284,275
92$20,282,073$6,019,240$4,054,804$14,392,960
93$22,265,079$6,228,418$4,104,875$15,606,782
94$24,447,651$6,445,144$4,153,922$16,936,201
95$26,850,058$6,669,702$4,201,825$18,392,734
96$29,494,636$6,902,390$4,248,458$19,989,065
97$32,405,996$7,143,514$4,293,689$21,739,161
98$35,611,256$7,393,395$4,337,376$23,658,404
99$39,140,298$7,652,365$4,379,372$25,763,735
100$43,026,049$7,920,771$4,419,521$28,073,809