Can I retire at age 71 with 1,580,000?

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 $1,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$130,475$129,313$128,179$127,072$125,991$123,347
2 years$64,592$63,389$62,223$61,092$59,996$57,344
3 years$42,633$41,425$40,262$39,142$38,064$35,487
4 years$31,656$30,452$29,301$28,200$27,147$24,666
5 years$25,072$23,875$22,738$21,660$20,637$18,258
6 years$20,684$19,495$18,376$17,322$16,329$14,055
7 years$17,550$16,372$15,271$14,241$13,280$11,111
8 years$15,202$14,034$12,951$11,947$11,017$8,953
9 years$13,376$12,219$11,154$10,176$9,278$7,317
10 years$11,916$10,771$9,725$8,772$7,905$6,045
11 years$10,722$9,588$8,561$7,634$6,799$5,038
12 years$9,728$8,606$7,598$6,696$5,892$4,227
13 years$8,888$7,777$6,788$5,912$5,138$3,566
14 years$8,168$7,069$6,099$5,248$4,504$3,022
15 years$7,545$6,458$5,507$4,680$3,965$2,571
16 years$7,000$5,925$4,993$4,190$3,505$2,194
17 years$6,520$5,457$4,543$3,765$3,107$1,877
18 years$6,093$5,042$4,147$3,393$2,763$1,610
19 years$5,712$4,673$3,797$3,066$2,463$1,383
20 years$5,370$4,343$3,484$2,777$2,200$1,190
21 years$5,060$4,045$3,205$2,520$1,969$1,025
22 years$4,779$3,776$2,954$2,291$1,765$884
23 years$4,523$3,531$2,727$2,087$1,584$764
24 years$4,289$3,309$2,522$1,903$1,424$660
25 years$4,073$3,105$2,336$1,738$1,281$571
26 years$3,875$2,918$2,167$1,589$1,154$494
27 years$3,692$2,746$2,012$1,455$1,040$427
28 years$3,521$2,588$1,870$1,333$939$370
29 years$3,363$2,441$1,741$1,222$848$321
30 years$3,216$2,306$1,621$1,122$766$278
31 years$3,079$2,180$1,512$1,030$692$241
32 years$2,950$2,062$1,410$947$626$209
33 years$2,830$1,953$1,317$871$567$181
34 years$2,716$1,851$1,230$801$513$157
35 years$2,610$1,756$1,150$737$465$137
36 years$2,509$1,666$1,076$679$421$119
37 years$2,415$1,583$1,007$626$382$103
38 years$2,325$1,504$943$577$346$89
39 years$2,240$1,430$884$532$314$78
40 years$2,160$1,361$828$491$285$67
41 years$2,084$1,295$777$453$258$59
42 years$2,012$1,234$728$418$234$51
43 years$1,943$1,175$684$386$213$44
44 years$1,877$1,120$642$356$193$38
45 years$1,815$1,068$603$329$175$33
46 years$1,755$1,019$566$304$159$29
47 years$1,699$973$532$281$144$25
48 years$1,644$929$500$259$131$22
49 years$1,592$887$470$240$119$19
50 years$1,543$847$441$221$108$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,580,000, adding $4,576 every year, while hoping to spend $30,347 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: 67/6/27 Blend
70$1,580,000$1,580,000$1,580,000$1,580,000
71$1,745,880$1,662,140$1,637,650$1,850,267
72$1,891,671$1,711,296$1,660,222$1,970,276
73$2,051,315$1,761,843$1,682,534$2,097,637
74$2,226,194$1,813,819$1,704,543$2,236,254
75$2,417,829$1,867,258$1,726,208$2,387,241
76$2,627,893$1,922,200$1,747,483$2,551,825
77$2,858,234$1,978,683$1,768,318$2,731,355
78$3,110,880$2,036,746$1,788,664$2,927,322
79$3,388,072$2,096,428$1,808,466$3,141,364
80$3,692,274$2,157,771$1,827,668$3,375,289
81$4,026,201$2,220,817$1,846,210$3,631,088
82$4,392,843$2,285,607$1,864,028$3,910,953
83$4,795,497$2,352,185$1,881,056$4,217,301
84$5,237,790$2,420,595$1,897,224$4,552,796
85$5,723,722$2,490,881$1,912,458$4,920,372
86$6,257,696$2,563,089$1,926,680$5,323,263
87$6,844,566$2,637,265$1,939,809$5,765,030
88$7,489,677$2,713,456$1,951,758$6,249,601
89$8,198,918$2,791,710$1,962,436$6,781,302
90$8,978,779$2,872,075$1,971,749$7,364,899
91$9,836,408$2,954,601$1,979,596$8,005,648
92$10,779,682$3,039,336$1,985,873$8,709,337
93$11,817,279$3,126,333$1,990,469$9,482,346
94$12,958,759$3,215,641$1,993,267$10,331,705
95$14,214,658$3,307,313$1,994,148$11,265,163
96$15,596,584$3,401,402$1,992,982$12,291,257
97$17,117,325$3,497,960$1,989,636$13,419,397
98$18,790,972$3,597,041$1,983,970$14,659,950
99$20,633,054$3,698,698$1,975,835$16,024,344
100$22,660,678$3,802,987$1,965,079$17,525,171