Can I retire at age 71 with 3,100,000?

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 $3,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$255,995$253,715$251,490$249,319$247,198$243,003
2 years$126,730$124,370$122,083$119,865$117,714$113,500
3 years$83,648$81,277$78,996$76,799$74,682$70,581
4 years$62,110$59,747$57,489$55,329$53,264$49,307
5 years$49,192$46,843$44,613$42,498$40,490$36,690
6 years$40,582$38,251$36,054$33,986$32,039$28,398
7 years$34,434$32,123$29,961$27,942$26,056$22,576
8 years$29,826$27,535$25,410$23,440$21,616$18,297
9 years$26,243$23,974$21,885$19,965$18,204$15,043
10 years$23,379$21,132$19,080$17,210$15,511$12,506
11 years$21,037$18,813$16,798$14,978$13,340$10,487
12 years$19,087$16,885$14,908$13,138$11,560$8,856
13 years$17,438$15,259$13,319$11,599$10,080$7,522
14 years$16,026$13,870$11,967$10,296$8,836$6,418
15 years$14,803$12,671$10,805$9,182$7,780$5,498
16 years$13,734$11,625$9,796$8,222$6,876$4,725
17 years$12,792$10,706$8,914$7,387$6,097$4,071
18 years$11,956$9,893$8,137$6,657$5,421$3,517
19 years$11,208$9,169$7,449$6,015$4,832$3,043
20 years$10,536$8,520$6,837$5,448$4,316$2,638
21 years$9,929$7,936$6,288$4,945$3,862$2,291
22 years$9,377$7,408$5,796$4,496$3,462$1,991
23 years$8,875$6,929$5,351$4,094$3,108$1,733
24 years$8,415$6,492$4,949$3,734$2,793$1,509
25 years$7,992$6,092$4,584$3,410$2,514$1,315
26 years$7,603$5,726$4,251$3,118$2,264$1,147
27 years$7,243$5,389$3,948$2,854$2,041$1,001
28 years$6,909$5,078$3,670$2,615$1,842$875
29 years$6,599$4,790$3,415$2,398$1,663$764
30 years$6,310$4,524$3,181$2,201$1,503$668
31 years$6,041$4,276$2,966$2,021$1,359$584
32 years$5,788$4,046$2,767$1,858$1,229$511
33 years$5,552$3,832$2,584$1,708$1,112$447
34 years$5,329$3,632$2,414$1,572$1,007$391
35 years$5,120$3,445$2,257$1,447$912$342
36 years$4,924$3,270$2,111$1,333$826$299
37 years$4,738$3,105$1,976$1,228$749$262
38 years$4,562$2,951$1,850$1,132$679$230
39 years$4,396$2,806$1,734$1,043$616$201
40 years$4,238$2,670$1,625$962$559$176
41 years$4,089$2,542$1,524$888$507$154
42 years$3,947$2,420$1,429$819$460$135
43 years$3,812$2,306$1,341$756$417$118
44 years$3,683$2,198$1,259$698$379$104
45 years$3,561$2,096$1,182$645$344$91
46 years$3,444$2,000$1,110$596$312$80
47 years$3,333$1,908$1,043$550$283$70
48 years$3,226$1,822$980$509$257$61
49 years$3,124$1,740$921$470$234$54
50 years$3,027$1,662$866$435$212$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $3,100,000, adding $4,867 every year, while hoping to spend $38,630 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: 34/37/29 Blend
70$3,100,000$3,100,000$3,100,000$3,100,000
71$3,421,220$3,256,920$3,208,870$3,507,404
72$3,729,083$3,375,407$3,275,265$3,691,526
73$4,067,052$3,498,406$3,342,590$3,886,155
74$4,438,160$3,626,095$3,410,835$4,095,299
75$4,845,742$3,758,664$3,479,988$4,320,278
76$5,293,477$3,896,308$3,550,037$4,562,543
77$5,785,415$4,039,231$3,620,966$4,823,685
78$6,326,019$4,187,644$3,692,760$5,105,455
79$6,920,205$4,341,771$3,765,400$5,409,774
80$7,573,390$4,501,841$3,838,864$5,738,756
81$8,291,540$4,668,096$3,913,131$6,094,723
82$9,081,229$4,840,785$3,988,173$6,480,229
83$9,949,702$5,020,171$4,063,964$6,898,079
84$10,904,937$5,206,525$4,140,473$7,351,361
85$11,955,728$5,400,132$4,217,666$7,843,470
86$13,111,763$5,601,289$4,295,508$8,378,139
87$14,383,714$5,810,303$4,373,958$8,959,476
88$15,783,342$6,027,497$4,452,976$9,592,000
89$17,323,606$6,253,208$4,532,513$10,280,682
90$19,018,783$6,487,784$4,612,522$11,030,995
91$20,884,606$6,731,593$4,692,948$11,848,957
92$22,938,408$6,985,013$4,773,735$12,741,195
93$25,199,291$7,248,445$4,854,820$13,715,001
94$27,688,301$7,522,300$4,936,139$14,778,402
95$30,428,628$7,807,014$5,017,620$15,940,235
96$33,445,827$8,103,036$5,099,189$17,210,227
97$36,768,054$8,410,837$5,180,764$18,599,086
98$40,426,337$8,730,910$5,262,262$20,118,603
99$44,454,865$9,063,766$5,343,589$21,781,760
100$48,891,312$9,409,942$5,424,650$23,602,851