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

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 $1,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$128,823$127,676$126,556$125,464$124,397$123,768
2 years$63,774$62,586$61,435$60,319$59,236$58,602
3 years$42,094$40,901$39,753$38,647$37,582$36,962
4 years$31,256$30,066$28,930$27,843$26,804$26,202
5 years$24,754$23,572$22,451$21,386$20,376$19,795
6 years$20,422$19,249$18,143$17,103$16,123$15,563
7 years$17,328$16,165$15,077$14,061$13,112$12,573
8 years$15,009$13,856$12,787$11,795$10,878$10,361
9 years$13,206$12,064$11,013$10,047$9,161$8,665
10 years$11,765$10,634$9,602$8,661$7,805$7,331
11 years$10,586$9,467$8,453$7,537$6,713$6,259
12 years$9,605$8,497$7,502$6,611$5,817$5,384
13 years$8,775$7,679$6,702$5,837$5,073$4,659
14 years$8,065$6,980$6,022$5,181$4,447$4,053
15 years$7,449$6,376$5,437$4,621$3,915$3,540
16 years$6,911$5,850$4,930$4,137$3,460$3,104
17 years$6,437$5,388$4,486$3,717$3,068$2,730
18 years$6,016$4,979$4,095$3,350$2,728$2,407
19 years$5,640$4,614$3,749$3,027$2,432$2,127
20 years$5,302$4,288$3,440$2,742$2,172$1,884
21 years$4,996$3,994$3,164$2,488$1,944$1,671
22 years$4,719$3,728$2,917$2,262$1,742$1,485
23 years$4,466$3,487$2,693$2,060$1,564$1,321
24 years$4,235$3,267$2,491$1,879$1,406$1,177
25 years$4,022$3,066$2,307$1,716$1,265$1,049
26 years$3,826$2,881$2,139$1,569$1,139$936
27 years$3,645$2,712$1,987$1,436$1,027$836
28 years$3,477$2,555$1,847$1,316$927$748
29 years$3,321$2,411$1,719$1,207$837$669
30 years$3,175$2,276$1,601$1,108$756$598
31 years$3,040$2,152$1,492$1,017$684$536
32 years$2,913$2,036$1,392$935$618$480
33 years$2,794$1,928$1,300$860$560$430
34 years$2,682$1,828$1,215$791$507$386
35 years$2,577$1,733$1,136$728$459$346
36 years$2,478$1,645$1,062$671$416$310
37 years$2,384$1,563$994$618$377$278
38 years$2,296$1,485$931$569$342$250
39 years$2,212$1,412$872$525$310$224
40 years$2,133$1,344$818$484$281$201
41 years$2,058$1,279$767$447$255$181
42 years$1,986$1,218$719$412$231$162
43 years$1,918$1,161$675$381$210$146
44 years$1,854$1,106$634$351$191$131
45 years$1,792$1,055$595$325$173$118
46 years$1,733$1,006$559$300$157$106
47 years$1,677$960$525$277$143$95
48 years$1,623$917$493$256$130$85
49 years$1,572$875$464$237$118$77
50 years$1,523$836$436$219$107$69

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 $4,783 every year, while hoping to spend $37,172 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: 61/31/8 Blend
70$1,560,000$1,560,000$1,560,000$1,560,000
71$1,724,054$1,641,374$1,617,194$1,826,016
72$1,860,356$1,682,250$1,631,819$1,935,706
73$2,009,316$1,723,884$1,645,688$2,050,625
74$2,172,185$1,766,273$1,658,737$2,175,075
75$2,350,340$1,809,413$1,670,898$2,309,975
76$2,545,301$1,853,299$1,682,098$2,456,338
77$2,758,736$1,897,926$1,692,264$2,615,280
78$2,992,488$1,943,285$1,701,315$2,788,027
79$3,248,581$1,989,365$1,709,168$2,975,932
80$3,529,248$2,036,156$1,715,737$3,180,485
81$3,836,946$2,083,642$1,720,929$3,403,325
82$4,174,382$2,131,809$1,724,648$3,646,260
83$4,544,539$2,180,637$1,726,793$3,911,278
84$4,950,698$2,230,104$1,727,257$4,200,572
85$5,396,479$2,280,189$1,725,930$4,516,556
86$5,885,864$2,330,863$1,722,693$4,861,891
87$6,423,244$2,382,096$1,717,425$5,239,507
88$7,013,452$2,433,857$1,709,996$5,652,634
89$7,661,816$2,486,107$1,700,272$6,104,828
90$8,374,201$2,538,807$1,688,112$6,600,009
91$9,157,073$2,591,911$1,673,367$7,142,495
92$10,017,552$2,645,372$1,655,882$7,737,046
93$10,963,483$2,699,137$1,635,495$8,388,903
94$12,003,510$2,753,145$1,612,035$9,103,845
95$13,147,154$2,807,336$1,585,324$9,888,236
96$14,404,907$2,861,639$1,555,177$10,749,093
97$15,788,329$2,915,981$1,521,396$11,694,146
98$17,310,155$2,970,280$1,483,779$12,731,912
99$18,984,417$3,024,450$1,442,112$13,871,777
100$20,826,575$3,078,395$1,396,170$15,124,088