Can I retire at age 71 with 1,560,000?

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 $1,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$128,823$127,676$126,556$125,464$124,397$120,174
2 years$63,774$62,586$61,435$60,319$59,236$55,025
3 years$42,094$40,901$39,753$38,647$37,582$33,513
4 years$31,256$30,066$28,930$27,843$26,804$22,909
5 years$24,754$23,572$22,451$21,386$20,376$16,666
6 years$20,422$19,249$18,143$17,103$16,123$12,600
7 years$17,328$16,165$15,077$14,061$13,112$9,776
8 years$15,009$13,856$12,787$11,795$10,878$7,726
9 years$13,206$12,064$11,013$10,047$9,161$6,189
10 years$11,765$10,634$9,602$8,661$7,805$5,010
11 years$10,586$9,467$8,453$7,537$6,713$4,087
12 years$9,605$8,497$7,502$6,611$5,817$3,356
13 years$8,775$7,679$6,702$5,837$5,073$2,769
14 years$8,065$6,980$6,022$5,181$4,447$2,294
15 years$7,449$6,376$5,437$4,621$3,915$1,907
16 years$6,911$5,850$4,930$4,137$3,460$1,589
17 years$6,437$5,388$4,486$3,717$3,068$1,327
18 years$6,016$4,979$4,095$3,350$2,728$1,111
19 years$5,640$4,614$3,749$3,027$2,432$931
20 years$5,302$4,288$3,440$2,742$2,172$781
21 years$4,996$3,994$3,164$2,488$1,944$656
22 years$4,719$3,728$2,917$2,262$1,742$552
23 years$4,466$3,487$2,693$2,060$1,564$464
24 years$4,235$3,267$2,491$1,879$1,406$391
25 years$4,022$3,066$2,307$1,716$1,265$329
26 years$3,826$2,881$2,139$1,569$1,139$277
27 years$3,645$2,712$1,987$1,436$1,027$234
28 years$3,477$2,555$1,847$1,316$927$197
29 years$3,321$2,411$1,719$1,207$837$166
30 years$3,175$2,276$1,601$1,108$756$140
31 years$3,040$2,152$1,492$1,017$684$118
32 years$2,913$2,036$1,392$935$618$100
33 years$2,794$1,928$1,300$860$560$84
34 years$2,682$1,828$1,215$791$507$71
35 years$2,577$1,733$1,136$728$459$60
36 years$2,478$1,645$1,062$671$416$51
37 years$2,384$1,563$994$618$377$43
38 years$2,296$1,485$931$569$342$36
39 years$2,212$1,412$872$525$310$31
40 years$2,133$1,344$818$484$281$26
41 years$2,058$1,279$767$447$255$22
42 years$1,986$1,218$719$412$231$18
43 years$1,918$1,161$675$381$210$16
44 years$1,854$1,106$634$351$191$13
45 years$1,792$1,055$595$325$173$11
46 years$1,733$1,006$559$300$157$9
47 years$1,677$960$525$277$143$8
48 years$1,623$917$493$256$130$7
49 years$1,572$875$464$237$118$6
50 years$1,523$836$436$219$107$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,560,000, adding $5,410 every year, while hoping to spend $22,414 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: 55/27/18 Blend
70$1,560,000$1,560,000$1,560,000$1,560,000
71$1,724,700$1,642,020$1,617,840$1,810,957
72$1,876,772$1,698,631$1,648,190$1,927,024
73$2,043,603$1,757,264$1,678,805$2,050,499
74$2,226,676$1,817,996$1,709,670$2,184,461
75$2,427,623$1,880,904$1,740,770$2,329,919
76$2,648,242$1,946,070$1,772,088$2,487,981
77$2,890,514$2,013,579$1,803,604$2,659,870
78$3,156,621$2,083,518$1,835,299$2,846,928
79$3,448,966$2,155,980$1,867,151$3,050,635
80$3,770,196$2,231,059$1,899,136$3,272,618
81$4,123,229$2,308,854$1,931,231$3,514,669
82$4,511,278$2,389,468$1,963,407$3,778,758
83$4,937,884$2,473,008$1,995,637$4,067,058
84$5,406,948$2,559,584$2,027,889$4,381,958
85$5,922,765$2,649,313$2,060,133$4,726,089
86$6,490,072$2,742,314$2,092,332$5,102,349
87$7,114,085$2,838,712$2,124,450$5,513,929
88$7,800,550$2,938,638$2,156,448$5,964,340
89$8,555,802$3,042,226$2,188,284$6,457,453
90$9,386,816$3,149,618$2,219,914$6,997,527
91$10,301,280$3,260,958$2,251,291$7,589,255
92$11,307,666$3,376,401$2,282,364$8,237,804
93$12,415,306$3,496,103$2,313,082$8,948,868
94$13,634,485$3,620,229$2,343,387$9,728,715
95$14,976,534$3,748,952$2,373,222$10,584,251
96$16,453,938$3,882,448$2,402,523$11,523,082
97$18,080,457$4,020,905$2,431,225$12,553,589
98$19,871,249$4,164,515$2,459,256$13,685,000
99$21,843,020$4,313,480$2,486,544$14,927,485
100$24,014,175$4,468,008$2,513,011$16,292,244