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%17.7%
1 years$110,656$109,670$108,709$107,770$106,853$103,516
2 years$54,780$53,760$52,771$51,813$50,883$47,550
3 years$36,157$35,133$34,146$33,197$32,282$29,058
4 years$26,848$25,826$24,850$23,916$23,024$19,934
5 years$21,263$20,248$19,285$18,370$17,502$14,555
6 years$17,542$16,534$15,585$14,691$13,849$11,047
7 years$14,885$13,885$12,951$12,078$11,263$8,605
8 years$12,893$11,902$10,983$10,132$9,344$6,829
9 years$11,344$10,363$9,460$8,630$7,869$5,494
10 years$10,106$9,135$8,248$7,439$6,705$4,466
11 years$9,093$8,132$7,261$6,474$5,766$3,661
12 years$8,250$7,299$6,444$5,679$4,997$3,019
13 years$7,538$6,596$5,757$5,014$4,357$2,503
14 years$6,927$5,996$5,173$4,451$3,820$2,084
15 years$6,399$5,477$4,670$3,969$3,363$1,741
16 years$5,937$5,025$4,234$3,554$2,972$1,458
17 years$5,529$4,628$3,853$3,193$2,635$1,224
18 years$5,168$4,276$3,517$2,878$2,343$1,030
19 years$4,845$3,963$3,220$2,600$2,089$868
20 years$4,554$3,683$2,955$2,355$1,866$732
21 years$4,292$3,430$2,718$2,137$1,670$618
22 years$4,053$3,202$2,505$1,943$1,496$523
23 years$3,836$2,995$2,313$1,770$1,343$442
24 years$3,637$2,806$2,139$1,614$1,207$374
25 years$3,455$2,633$1,981$1,474$1,086$317
26 years$3,286$2,475$1,838$1,348$979$269
27 years$3,131$2,329$1,706$1,234$882$228
28 years$2,987$2,195$1,586$1,130$796$193
29 years$2,853$2,071$1,476$1,037$719$164
30 years$2,728$1,955$1,375$951$650$139
31 years$2,611$1,849$1,282$874$587$118
32 years$2,502$1,749$1,196$803$531$100
33 years$2,400$1,656$1,117$738$481$85
34 years$2,304$1,570$1,043$679$435$72
35 years$2,213$1,489$976$625$394$61
36 years$2,128$1,413$913$576$357$52
37 years$2,048$1,342$854$531$324$44
38 years$1,972$1,276$800$489$294$38
39 years$1,900$1,213$749$451$266$32
40 years$1,832$1,154$702$416$241$27
41 years$1,767$1,099$659$384$219$23
42 years$1,706$1,046$618$354$199$20
43 years$1,648$997$580$327$180$17
44 years$1,592$950$544$302$164$14
45 years$1,539$906$511$279$149$12
46 years$1,489$864$480$258$135$10
47 years$1,441$825$451$238$123$9
48 years$1,394$788$424$220$111$7
49 years$1,350$752$398$203$101$6
50 years$1,308$718$374$188$92$5

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 $6,160 every year, while hoping to spend $43,985 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: 55/18/27 Blend
70$1,340,000$1,340,000$1,340,000$1,340,000
71$1,483,034$1,412,014$1,391,244$1,553,233
72$1,587,504$1,434,403$1,391,051$1,624,657
73$1,701,155$1,456,415$1,389,377$1,697,340
74$1,824,879$1,477,985$1,386,127$1,775,607
75$1,959,653$1,499,043$1,381,199$1,860,011
76$2,106,557$1,519,515$1,374,488$1,951,162
77$2,266,776$1,539,321$1,365,884$2,049,733
78$2,441,616$1,558,377$1,355,270$2,156,467
79$2,632,513$1,576,590$1,342,524$2,272,184
80$2,841,051$1,593,864$1,327,520$2,397,789
81$3,068,970$1,610,096$1,310,124$2,534,281
82$3,318,188$1,625,174$1,290,196$2,682,762
83$3,590,816$1,638,980$1,267,591$2,844,450
84$3,889,179$1,651,389$1,242,154$3,020,686
85$4,215,836$1,662,268$1,213,727$3,212,952
86$4,573,605$1,671,473$1,182,141$3,422,884
87$4,965,592$1,678,854$1,147,221$3,652,285
88$5,395,213$1,684,249$1,108,784$3,903,145
89$5,866,234$1,687,487$1,066,638$4,177,661
90$6,382,802$1,688,386$1,020,583$4,478,255
91$6,949,484$1,686,752$970,408$4,807,602
92$7,571,310$1,682,382$915,895$5,168,650
93$8,253,820$1,675,055$856,814$5,564,653
94$9,003,119$1,664,543$792,927$5,999,200
95$9,825,931$1,650,598$723,983$6,476,251
96$10,729,660$1,632,962$649,721$7,000,171
97$11,722,466$1,611,358$569,868$7,575,779
98$12,813,338$1,585,495$484,139$8,208,387
99$14,012,177$1,555,063$392,236$8,903,856
100$15,329,892$1,519,734$293,849$9,668,650