Can I retire at age 71 with 1,540,000?

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 $1,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$127,172$126,039$124,934$123,855$122,802$121,469
2 years$62,956$61,784$60,647$59,546$58,477$57,135
3 years$41,554$40,376$39,243$38,152$37,100$35,791
4 years$30,855$29,681$28,559$27,486$26,460$25,193
5 years$24,437$23,270$22,163$21,112$20,115$18,894
6 years$20,160$19,002$17,911$16,883$15,916$14,743
7 years$17,106$15,958$14,884$13,881$12,944$11,819
8 years$14,817$13,679$12,623$11,644$10,738$9,662
9 years$13,037$11,910$10,872$9,918$9,043$8,014
10 years$11,614$10,498$9,478$8,550$7,705$6,724
11 years$10,451$9,346$8,345$7,441$6,627$5,691
12 years$9,482$8,388$7,406$6,527$5,743$4,853
13 years$8,663$7,580$6,617$5,762$5,008$4,162
14 years$7,961$6,890$5,945$5,115$4,390$3,587
15 years$7,354$6,295$5,368$4,562$3,865$3,104
16 years$6,823$5,775$4,866$4,084$3,416$2,696
17 years$6,355$5,319$4,428$3,670$3,029$2,348
18 years$5,939$4,915$4,042$3,307$2,693$2,050
19 years$5,568$4,555$3,701$2,988$2,400$1,794
20 years$5,234$4,233$3,396$2,707$2,144$1,572
21 years$4,932$3,943$3,124$2,456$1,919$1,380
22 years$4,658$3,680$2,879$2,233$1,720$1,214
23 years$4,409$3,442$2,658$2,034$1,544$1,068
24 years$4,180$3,225$2,459$1,855$1,388$942
25 years$3,970$3,026$2,277$1,694$1,249$830
26 years$3,777$2,844$2,112$1,549$1,125$733
27 years$3,598$2,677$1,961$1,418$1,014$648
28 years$3,432$2,522$1,823$1,299$915$572
29 years$3,278$2,380$1,697$1,191$826$506
30 years$3,135$2,247$1,580$1,093$747$448
31 years$3,001$2,124$1,473$1,004$675$397
32 years$2,875$2,010$1,375$923$611$351
33 years$2,758$1,904$1,283$849$553$311
34 years$2,648$1,804$1,199$781$500$276
35 years$2,544$1,711$1,121$719$453$244
36 years$2,446$1,624$1,049$662$411$217
37 years$2,354$1,543$982$610$372$192
38 years$2,266$1,466$919$562$337$170
39 years$2,184$1,394$861$518$306$151
40 years$2,105$1,326$807$478$277$134
41 years$2,031$1,263$757$441$252$119
42 years$1,961$1,202$710$407$228$105
43 years$1,894$1,146$666$376$207$94
44 years$1,830$1,092$625$347$188$83
45 years$1,769$1,041$587$320$171$74
46 years$1,711$993$552$296$155$65
47 years$1,656$948$518$273$141$58
48 years$1,603$905$487$253$128$52
49 years$1,552$864$458$234$116$46
50 years$1,504$826$430$216$106$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,540,000, adding $6,698 every year, while hoping to spend $39,268 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: 69/6/25 Blend
70$1,540,000$1,540,000$1,540,000$1,540,000
71$1,703,989$1,622,369$1,598,499$1,810,239
72$1,836,015$1,660,084$1,610,268$1,920,021
73$1,980,192$1,698,331$1,621,115$2,034,967
74$2,137,717$1,737,095$1,630,968$2,159,843
75$2,309,909$1,776,358$1,639,750$2,295,629
76$2,498,220$1,816,100$1,647,383$2,443,409
77$2,704,250$1,856,300$1,653,781$2,604,374
78$2,929,757$1,896,933$1,658,857$2,779,840
79$3,176,681$1,937,971$1,662,517$2,971,254
80$3,447,156$1,979,385$1,664,665$3,180,213
81$3,743,533$2,021,142$1,665,198$3,408,476
82$4,068,400$2,063,205$1,664,009$3,657,981
83$4,424,609$2,105,534$1,660,985$3,930,865
84$4,815,300$2,148,086$1,656,010$4,229,482
85$5,243,933$2,190,814$1,648,957$4,556,429
86$5,714,316$2,233,666$1,639,700$4,914,565
87$6,230,646$2,276,586$1,628,100$5,307,042
88$6,797,547$2,319,513$1,614,016$5,737,336
89$7,420,109$2,362,382$1,597,298$6,209,276
90$8,103,944$2,405,122$1,577,791$6,727,082
91$8,855,229$2,447,656$1,555,330$7,295,406
92$9,680,773$2,489,902$1,529,744$7,919,375
93$10,588,075$2,531,770$1,500,854$8,604,640
94$11,585,398$2,573,166$1,468,471$9,357,429
95$12,681,843$2,613,987$1,432,400$10,184,607
96$13,887,441$2,654,121$1,392,435$11,093,738
97$15,213,239$2,693,452$1,348,361$12,093,163
98$16,671,410$2,731,853$1,299,952$13,192,070
99$18,275,368$2,769,187$1,246,974$14,400,589
100$20,039,888$2,805,310$1,189,180$15,729,885