Can I retire at age 71 with 1,490,000?

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 $1,490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$123,043$121,947$120,878$119,834$118,815$117,427
2 years$60,912$59,778$58,678$57,612$56,578$55,182
3 years$40,205$39,065$37,969$36,913$35,896$34,534
4 years$29,853$28,717$27,632$26,594$25,601$24,284
5 years$23,644$22,515$21,443$20,426$19,462$18,193
6 years$19,505$18,385$17,329$16,335$15,399$14,181
7 years$16,551$15,440$14,401$13,430$12,524$11,356
8 years$14,336$13,235$12,213$11,266$10,390$9,272
9 years$12,614$11,523$10,519$9,596$8,750$7,682
10 years$11,237$10,157$9,171$8,272$7,455$6,437
11 years$10,111$9,042$8,074$7,199$6,412$5,442
12 years$9,174$8,116$7,165$6,315$5,556$4,634
13 years$8,381$7,334$6,402$5,575$4,845$3,970
14 years$7,703$6,667$5,752$4,949$4,247$3,417
15 years$7,115$6,090$5,193$4,413$3,740$2,953
16 years$6,601$5,588$4,708$3,952$3,305$2,561
17 years$6,148$5,146$4,284$3,551$2,930$2,227
18 years$5,746$4,755$3,911$3,200$2,606$1,942
19 years$5,387$4,407$3,580$2,891$2,322$1,696
20 years$5,064$4,095$3,286$2,619$2,074$1,485
21 years$4,772$3,815$3,022$2,377$1,856$1,302
22 years$4,507$3,561$2,786$2,161$1,664$1,143
23 years$4,266$3,330$2,572$1,968$1,494$1,005
24 years$4,045$3,120$2,379$1,795$1,343$884
25 years$3,841$2,928$2,203$1,639$1,208$778
26 years$3,654$2,752$2,043$1,499$1,088$686
27 years$3,481$2,590$1,897$1,372$981$605
28 years$3,321$2,441$1,764$1,257$885$534
29 years$3,172$2,302$1,641$1,153$799$471
30 years$3,033$2,174$1,529$1,058$722$416
31 years$2,903$2,055$1,425$972$653$368
32 years$2,782$1,945$1,330$893$591$325
33 years$2,668$1,842$1,242$821$535$288
34 years$2,562$1,746$1,160$755$484$255
35 years$2,461$1,656$1,085$695$438$225
36 years$2,366$1,572$1,015$640$397$199
37 years$2,277$1,493$950$590$360$176
38 years$2,193$1,418$889$544$326$156
39 years$2,113$1,349$833$502$296$138
40 years$2,037$1,283$781$463$268$123
41 years$1,965$1,222$732$427$244$109
42 years$1,897$1,163$687$394$221$96
43 years$1,832$1,108$645$364$201$85
44 years$1,770$1,057$605$336$182$75
45 years$1,711$1,008$568$310$165$67
46 years$1,655$961$534$286$150$59
47 years$1,602$917$501$265$136$52
48 years$1,551$876$471$244$124$47
49 years$1,502$836$443$226$112$41
50 years$1,455$799$416$209$102$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,490,000, adding $6,839 every year, while hoping to spend $31,770 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: 34/36/30 Blend
70$1,490,000$1,490,000$1,490,000$1,490,000
71$1,649,034$1,570,064$1,546,969$1,689,977
72$1,783,433$1,613,195$1,564,990$1,764,757
73$1,930,475$1,657,373$1,582,549$1,842,045
74$2,091,418$1,702,618$1,599,598$1,924,788
75$2,267,643$1,748,948$1,616,086$2,013,494
76$2,460,675$1,796,378$1,631,957$2,108,725
77$2,672,191$1,844,928$1,647,154$2,211,097
78$2,904,037$1,894,613$1,661,618$2,321,290
79$3,158,250$1,945,449$1,675,283$2,440,054
80$3,437,070$1,997,454$1,688,082$2,568,212
81$3,742,964$2,050,643$1,699,946$2,706,674
82$4,078,652$2,105,030$1,710,800$2,856,441
83$4,447,128$2,160,630$1,720,566$3,018,617
84$4,851,691$2,217,457$1,729,161$3,194,417
85$5,295,974$2,275,523$1,736,499$3,385,181
86$5,783,981$2,334,842$1,742,489$3,592,385
87$6,320,121$2,395,422$1,747,036$3,817,656
88$6,909,252$2,457,276$1,750,040$4,062,787
89$7,556,725$2,520,412$1,751,395$4,329,754
90$8,268,436$2,584,838$1,750,992$4,620,735
91$9,050,881$2,650,559$1,748,715$4,938,131
92$9,911,216$2,717,581$1,744,442$5,284,586
93$10,857,325$2,785,908$1,738,046$5,663,017
94$11,897,894$2,855,540$1,729,393$6,076,639
95$13,042,496$2,926,478$1,718,344$6,528,992
96$14,301,673$2,998,718$1,704,751$7,023,983
97$15,687,046$3,072,257$1,688,462$7,565,915
98$17,211,414$3,147,087$1,669,315$8,159,532
99$18,888,883$3,223,199$1,647,142$8,810,063
100$20,734,993$3,300,580$1,621,766$9,523,271