Can I retire at age 71 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$110,656$109,670$108,709$107,770$106,853$103,227
2 years$54,780$53,760$52,771$51,813$50,883$47,265
3 years$36,157$35,133$34,146$33,197$32,282$28,787
4 years$26,848$25,826$24,850$23,916$23,024$19,678
5 years$21,263$20,248$19,285$18,370$17,502$14,315
6 years$17,542$16,534$15,585$14,691$13,849$10,823
7 years$14,885$13,885$12,951$12,078$11,263$8,397
8 years$12,893$11,902$10,983$10,132$9,344$6,636
9 years$11,344$10,363$9,460$8,630$7,869$5,316
10 years$10,106$9,135$8,248$7,439$6,705$4,303
11 years$9,093$8,132$7,261$6,474$5,766$3,511
12 years$8,250$7,299$6,444$5,679$4,997$2,882
13 years$7,538$6,596$5,757$5,014$4,357$2,378
14 years$6,927$5,996$5,173$4,451$3,820$1,970
15 years$6,399$5,477$4,670$3,969$3,363$1,638
16 years$5,937$5,025$4,234$3,554$2,972$1,365
17 years$5,529$4,628$3,853$3,193$2,635$1,140
18 years$5,168$4,276$3,517$2,878$2,343$954
19 years$4,845$3,963$3,220$2,600$2,089$800
20 years$4,554$3,683$2,955$2,355$1,866$671
21 years$4,292$3,430$2,718$2,137$1,670$564
22 years$4,053$3,202$2,505$1,943$1,496$474
23 years$3,836$2,995$2,313$1,770$1,343$399
24 years$3,637$2,806$2,139$1,614$1,207$336
25 years$3,455$2,633$1,981$1,474$1,086$283
26 years$3,286$2,475$1,838$1,348$979$238
27 years$3,131$2,329$1,706$1,234$882$201
28 years$2,987$2,195$1,586$1,130$796$169
29 years$2,853$2,071$1,476$1,037$719$143
30 years$2,728$1,955$1,375$951$650$120
31 years$2,611$1,849$1,282$874$587$102
32 years$2,502$1,749$1,196$803$531$86
33 years$2,400$1,656$1,117$738$481$72
34 years$2,304$1,570$1,043$679$435$61
35 years$2,213$1,489$976$625$394$52
36 years$2,128$1,413$913$576$357$44
37 years$2,048$1,342$854$531$324$37
38 years$1,972$1,276$800$489$294$31
39 years$1,900$1,213$749$451$266$26
40 years$1,832$1,154$702$416$241$22
41 years$1,767$1,099$659$384$219$19
42 years$1,706$1,046$618$354$199$16
43 years$1,648$997$580$327$180$13
44 years$1,592$950$544$302$164$11
45 years$1,539$906$511$279$149$10
46 years$1,489$864$480$258$135$8
47 years$1,441$825$451$238$123$7
48 years$1,394$788$424$220$111$6
49 years$1,350$752$398$203$101$5
50 years$1,308$718$374$188$92$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,340,000, adding $4,611 every year, while hoping to spend $36,206 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: 69/21/10 Blend
70$1,340,000$1,340,000$1,340,000$1,340,000
71$1,481,436$1,410,416$1,389,646$1,580,375
72$1,594,020$1,441,004$1,397,676$1,677,186
73$1,716,873$1,471,877$1,404,762$1,778,237
74$1,851,007$1,503,010$1,410,834$1,887,820
75$1,997,530$1,534,379$1,415,817$2,006,767
76$2,157,667$1,565,952$1,419,636$2,135,994
77$2,332,764$1,597,699$1,422,209$2,276,509
78$2,524,305$1,629,585$1,423,452$2,429,424
79$2,733,920$1,661,571$1,423,274$2,595,963
80$2,963,409$1,693,617$1,421,583$2,777,472
81$3,214,750$1,725,678$1,418,279$2,975,439
82$3,490,124$1,757,706$1,413,261$3,191,500
83$3,791,932$1,789,648$1,406,420$3,427,457
84$4,122,817$1,821,449$1,397,643$3,685,297
85$4,485,692$1,853,047$1,386,812$3,967,209
86$4,883,764$1,884,378$1,373,801$4,275,605
87$5,320,566$1,915,370$1,358,482$4,613,142
88$5,799,989$1,945,949$1,340,716$4,982,748
89$6,326,321$1,976,033$1,320,363$5,387,651
90$6,904,282$2,005,536$1,297,272$5,831,407
91$7,539,075$2,034,363$1,271,287$6,317,934
92$8,236,429$2,062,415$1,242,243$6,851,550
93$9,002,657$2,089,586$1,209,971$7,437,014
94$9,844,713$2,115,760$1,174,289$8,079,570
95$10,770,257$2,140,816$1,135,012$8,784,997
96$11,787,731$2,164,624$1,091,942$9,559,666
97$12,906,433$2,187,044$1,044,876$10,410,593
98$14,136,607$2,207,927$993,597$11,345,515
99$15,489,541$2,227,116$937,883$12,372,957
100$16,977,671$2,244,441$877,499$13,502,313