Can I retire at age 71 with 1,460,000?

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 $1,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$120,565$119,492$118,444$117,421$116,422$113,562
2 years$59,686$58,574$57,497$56,452$55,439$52,575
3 years$39,395$38,279$37,204$36,170$35,173$32,394
4 years$29,252$28,139$27,075$26,058$25,086$22,414
5 years$23,168$22,061$21,011$20,015$19,070$16,513
6 years$19,113$18,015$16,980$16,006$15,089$12,650
7 years$16,217$15,129$14,111$13,160$12,272$9,949
8 years$14,047$12,968$11,967$11,039$10,180$7,975
9 years$12,360$11,291$10,307$9,403$8,573$6,482
10 years$11,011$9,953$8,986$8,106$7,305$5,326
11 years$9,908$8,860$7,911$7,054$6,283$4,413
12 years$8,989$7,952$7,021$6,188$5,444$3,681
13 years$8,213$7,187$6,273$5,463$4,748$3,087
14 years$7,548$6,532$5,636$4,849$4,162$2,600
15 years$6,972$5,968$5,089$4,325$3,664$2,198
16 years$6,468$5,475$4,614$3,872$3,238$1,864
17 years$6,025$5,042$4,198$3,479$2,871$1,584
18 years$5,631$4,659$3,832$3,135$2,553$1,350
19 years$5,279$4,318$3,508$2,833$2,276$1,152
20 years$4,962$4,013$3,220$2,566$2,033$984
21 years$4,676$3,738$2,962$2,329$1,819$842
22 years$4,416$3,489$2,730$2,117$1,631$721
23 years$4,180$3,263$2,520$1,928$1,464$619
24 years$3,963$3,057$2,331$1,759$1,316$531
25 years$3,764$2,869$2,159$1,606$1,184$456
26 years$3,581$2,697$2,002$1,469$1,066$391
27 years$3,411$2,538$1,859$1,344$961$336
28 years$3,254$2,391$1,728$1,232$867$289
29 years$3,108$2,256$1,608$1,129$783$249
30 years$2,972$2,131$1,498$1,037$708$214
31 years$2,845$2,014$1,397$952$640$184
32 years$2,726$1,906$1,303$875$579$159
33 years$2,615$1,805$1,217$805$524$137
34 years$2,510$1,710$1,137$740$474$118
35 years$2,412$1,622$1,063$681$430$101
36 years$2,319$1,540$994$628$389$87
37 years$2,231$1,463$931$578$353$75
38 years$2,149$1,390$872$533$320$65
39 years$2,070$1,322$817$491$290$56
40 years$1,996$1,257$765$453$263$48
41 years$1,926$1,197$718$418$239$41
42 years$1,859$1,140$673$386$217$36
43 years$1,795$1,086$632$356$197$31
44 years$1,735$1,035$593$329$178$27
45 years$1,677$987$557$304$162$23
46 years$1,622$942$523$281$147$20
47 years$1,570$899$491$259$134$17
48 years$1,519$858$462$240$121$15
49 years$1,471$819$434$221$110$13
50 years$1,425$783$408$205$100$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,460,000, adding $6,558 every year, while hoping to spend $42,992 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: 52/21/27 Blend
70$1,460,000$1,460,000$1,460,000$1,460,000
71$1,615,685$1,538,305$1,515,675$1,687,177
72$1,734,741$1,567,938$1,520,707$1,767,133
73$1,864,501$1,597,583$1,524,466$1,849,175
74$2,006,010$1,627,194$1,526,865$1,937,565
75$2,160,419$1,656,724$1,527,812$2,032,928
76$2,328,997$1,686,118$1,527,209$2,135,951
77$2,513,138$1,715,322$1,524,954$2,247,394
78$2,714,380$1,744,274$1,520,941$2,368,093
79$2,934,412$1,772,909$1,515,059$2,498,973
80$3,175,098$1,801,157$1,507,188$2,641,051
81$3,438,486$1,828,942$1,497,208$2,795,453
82$3,726,836$1,856,184$1,484,988$2,963,418
83$4,042,632$1,882,796$1,470,394$3,146,314
84$4,388,613$1,908,686$1,453,285$3,345,650
85$4,767,793$1,933,753$1,433,512$3,563,091
86$5,183,493$1,957,892$1,410,919$3,800,474
87$5,639,370$1,980,990$1,385,346$4,059,823
88$6,139,453$2,002,925$1,356,622$4,343,373
89$6,688,177$2,023,568$1,324,568$4,653,588
90$7,290,429$2,042,781$1,289,000$4,993,186
91$7,951,593$2,060,418$1,249,722$5,365,167
92$8,677,599$2,076,321$1,206,530$5,772,836
93$9,474,977$2,090,324$1,159,213$6,219,841
94$10,350,925$2,102,250$1,107,546$6,710,204
95$11,313,368$2,111,909$1,051,298$7,248,361
96$12,371,040$2,119,101$990,225$7,839,204
97$13,533,562$2,123,613$924,073$8,488,129
98$14,811,532$2,125,216$852,576$9,201,086
99$16,216,627$2,123,671$775,457$9,984,636
100$17,761,714$2,118,722$692,425$10,846,013