Can I retire at age 71 with 1,510,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,510,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$124,694$123,584$122,500$121,442$120,410$118,708
2 years$61,730$60,580$59,466$58,386$57,338$55,627
3 years$40,744$39,590$38,478$37,408$36,377$34,710
4 years$30,254$29,103$28,002$26,951$25,945$24,334
5 years$23,961$22,817$21,731$20,701$19,723$18,174
6 years$19,767$18,632$17,562$16,554$15,606$14,120
7 years$16,773$15,647$14,594$13,610$12,692$11,269
8 years$14,528$13,412$12,377$11,417$10,529$9,170
9 years$12,783$11,678$10,660$9,725$8,867$7,571
10 years$11,388$10,293$9,294$8,383$7,555$6,321
11 years$10,247$9,164$8,182$7,296$6,498$5,324
12 years$9,297$8,225$7,261$6,399$5,631$4,516
13 years$8,494$7,433$6,488$5,650$4,910$3,853
14 years$7,806$6,756$5,829$5,015$4,304$3,303
15 years$7,211$6,172$5,263$4,473$3,790$2,843
16 years$6,690$5,663$4,772$4,005$3,349$2,455
17 years$6,231$5,215$4,342$3,598$2,970$2,126
18 years$5,823$4,819$3,964$3,243$2,641$1,846
19 years$5,459$4,466$3,629$2,930$2,354$1,606
20 years$5,132$4,150$3,330$2,654$2,102$1,399
21 years$4,836$3,866$3,063$2,408$1,881$1,221
22 years$4,568$3,608$2,823$2,190$1,686$1,067
23 years$4,323$3,375$2,607$1,994$1,514$934
24 years$4,099$3,162$2,411$1,819$1,361$818
25 years$3,893$2,967$2,233$1,661$1,224$717
26 years$3,703$2,789$2,071$1,519$1,103$629
27 years$3,528$2,625$1,923$1,390$994$552
28 years$3,365$2,473$1,788$1,274$897$485
29 years$3,214$2,333$1,664$1,168$810$426
30 years$3,074$2,204$1,549$1,072$732$374
31 years$2,942$2,083$1,445$985$662$329
32 years$2,819$1,971$1,348$905$599$290
33 years$2,704$1,867$1,258$832$542$255
34 years$2,596$1,769$1,176$766$491$224
35 years$2,494$1,678$1,099$705$444$197
36 years$2,398$1,593$1,028$649$403$174
37 years$2,308$1,513$963$598$365$153
38 years$2,222$1,438$901$551$331$135
39 years$2,141$1,367$844$508$300$119
40 years$2,064$1,301$792$469$272$105
41 years$1,992$1,238$742$433$247$92
42 years$1,922$1,179$696$399$224$81
43 years$1,857$1,123$653$368$203$72
44 years$1,794$1,071$613$340$184$63
45 years$1,734$1,021$576$314$167$56
46 years$1,678$974$541$290$152$49
47 years$1,623$930$508$268$138$43
48 years$1,571$887$477$248$125$38
49 years$1,522$847$449$229$114$34
50 years$1,474$809$422$212$103$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,510,000, adding $6,200 every year, while hoping to spend $29,485 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: 45/39/16 Blend
70$1,510,000$1,510,000$1,510,000$1,510,000
71$1,670,415$1,590,385$1,566,980$1,737,667
72$1,809,426$1,636,942$1,588,102$1,831,800
73$1,961,627$1,684,793$1,608,944$1,930,369
74$2,128,334$1,733,968$1,629,464$2,036,621
75$2,310,993$1,784,502$1,649,620$2,151,283
76$2,511,199$1,836,427$1,669,367$2,275,150
77$2,730,707$1,889,778$1,688,657$2,409,099
78$2,971,451$1,944,589$1,707,439$2,554,095
79$3,235,561$2,000,895$1,725,659$2,711,199
80$3,525,382$2,058,733$1,743,263$2,881,580
81$3,843,498$2,118,138$1,760,189$3,066,525
82$4,192,756$2,179,147$1,776,377$3,267,451
83$4,576,290$2,241,799$1,791,759$3,485,915
84$4,997,555$2,306,130$1,806,266$3,723,636
85$5,460,355$2,372,180$1,819,825$3,982,503
86$5,968,882$2,439,988$1,832,360$4,264,599
87$6,527,753$2,509,592$1,843,789$4,572,216
88$7,142,056$2,581,034$1,854,028$4,907,880
89$7,817,394$2,654,353$1,862,986$5,274,371
90$8,559,942$2,729,590$1,870,570$5,674,753
91$9,376,503$2,806,787$1,876,681$6,112,400
92$10,274,572$2,885,986$1,881,216$6,591,029
93$11,262,406$2,967,227$1,884,065$7,114,733
94$12,349,105$3,050,554$1,885,114$7,688,023
95$13,544,691$3,136,009$1,884,242$8,315,868
96$14,860,210$3,223,634$1,881,325$9,003,742
97$16,307,832$3,313,473$1,876,231$9,757,676
98$17,900,966$3,405,568$1,868,819$10,584,313
99$19,654,386$3,499,962$1,858,946$11,490,975
100$21,584,372$3,596,699$1,846,459$12,485,727