Can I retire at age 71 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$117,262$116,218$115,199$114,204$113,233$112,519
2 years$58,051$56,969$55,922$54,906$53,920$53,201
3 years$38,316$37,230$36,185$35,179$34,209$33,506
4 years$28,451$27,368$26,333$25,344$24,398$23,716
5 years$22,533$21,457$20,436$19,467$18,547$17,888
6 years$18,589$17,521$16,515$15,568$14,676$14,041
7 years$15,773$14,714$13,724$12,799$11,935$11,326
8 years$13,662$12,613$11,639$10,737$9,902$9,316
9 years$12,021$10,982$10,025$9,145$8,339$7,778
10 years$10,709$9,680$8,740$7,883$7,105$6,569
11 years$9,636$8,617$7,694$6,861$6,110$5,598
12 years$8,743$7,735$6,829$6,018$5,295$4,806
13 years$7,988$6,990$6,101$5,313$4,617$4,151
14 years$7,341$6,354$5,482$4,716$4,048$3,604
15 years$6,781$5,804$4,949$4,206$3,564$3,142
16 years$6,291$5,325$4,487$3,766$3,150$2,749
17 years$5,860$4,904$4,083$3,384$2,793$2,413
18 years$5,476$4,532$3,727$3,049$2,483$2,123
19 years$5,134$4,200$3,412$2,755$2,213$1,872
20 years$4,826$3,903$3,132$2,496$1,977$1,655
21 years$4,548$3,635$2,880$2,265$1,769$1,465
22 years$4,295$3,393$2,655$2,059$1,586$1,298
23 years$4,065$3,174$2,451$1,875$1,424$1,153
24 years$3,855$2,974$2,267$1,711$1,280$1,024
25 years$3,661$2,791$2,100$1,562$1,151$911
26 years$3,483$2,623$1,947$1,428$1,037$811
27 years$3,318$2,468$1,808$1,307$935$723
28 years$3,165$2,326$1,681$1,198$844$645
29 years$3,023$2,194$1,564$1,098$762$575
30 years$2,891$2,072$1,457$1,008$688$514
31 years$2,767$1,959$1,358$926$622$459
32 years$2,651$1,854$1,267$851$563$410
33 years$2,543$1,755$1,183$782$509$366
34 years$2,441$1,664$1,106$720$461$328
35 years$2,346$1,578$1,034$663$418$293
36 years$2,255$1,498$967$610$379$262
37 years$2,170$1,422$905$562$343$235
38 years$2,090$1,352$848$518$311$210
39 years$2,014$1,285$794$478$282$188
40 years$1,941$1,223$744$441$256$168
41 years$1,873$1,164$698$407$232$151
42 years$1,808$1,109$655$375$211$135
43 years$1,746$1,056$614$347$191$121
44 years$1,687$1,007$577$320$173$109
45 years$1,631$960$541$295$158$97
46 years$1,578$916$509$273$143$87
47 years$1,527$874$478$252$130$78
48 years$1,478$835$449$233$118$70
49 years$1,431$797$422$215$107$63
50 years$1,386$761$397$199$97$56

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,420,000, adding $2,974 every year, while hoping to spend $38,142 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: 45/30/25 Blend
70$1,420,000$1,420,000$1,420,000$1,420,000
71$1,567,908$1,492,648$1,470,638$1,627,026
72$1,687,251$1,525,205$1,479,321$1,701,709
73$1,817,490$1,558,079$1,487,017$1,778,716
74$1,959,694$1,591,245$1,493,653$1,861,478
75$2,115,043$1,624,676$1,499,150$1,950,550
76$2,284,834$1,658,342$1,503,429$2,046,547
77$2,470,497$1,692,210$1,506,403$2,150,144
78$2,673,605$1,726,246$1,507,985$2,262,088
79$2,895,890$1,760,409$1,508,080$2,383,201
80$3,139,260$1,794,658$1,506,589$2,514,390
81$3,405,815$1,828,947$1,503,411$2,656,657
82$3,697,869$1,863,226$1,498,436$2,811,106
83$4,017,969$1,897,441$1,491,551$2,978,952
84$4,368,921$1,931,535$1,482,637$3,161,540
85$4,753,816$1,965,445$1,471,570$3,360,349
86$5,176,056$1,999,103$1,458,219$3,577,013
87$5,639,392$2,032,437$1,442,447$3,813,332
88$6,147,952$2,065,369$1,424,111$4,071,294
89$6,706,286$2,097,815$1,403,062$4,353,088
90$7,319,404$2,129,685$1,379,141$4,661,132
91$7,992,826$2,160,882$1,352,185$4,998,089
92$8,732,633$2,191,304$1,322,022$5,366,898
93$9,545,522$2,220,839$1,288,471$5,770,800
94$10,438,875$2,249,369$1,251,344$6,213,369
95$11,420,821$2,276,769$1,210,444$6,698,545
96$12,500,316$2,302,902$1,165,565$7,230,675
97$13,687,228$2,327,624$1,116,492$7,814,551
98$14,992,430$2,350,782$1,062,999$8,455,459
99$16,427,899$2,372,212$1,004,851$9,159,226
100$18,006,833$2,391,738$941,802$9,932,277