Can I retire at age 71 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$132,127$130,950$129,801$128,681$127,586$123,601
2 years$65,409$64,191$63,010$61,866$60,755$56,776
3 years$43,173$41,950$40,772$39,638$38,546$34,697
4 years$32,057$30,837$29,671$28,557$27,491$23,802
5 years$25,389$24,177$23,026$21,934$20,898$17,379
6 years$20,945$19,742$18,609$17,541$16,536$13,190
7 years$17,773$16,579$15,464$14,422$13,448$10,275
8 years$15,394$14,212$13,115$12,098$11,157$8,154
9 years$13,545$12,374$11,296$10,305$9,396$6,560
10 years$12,067$10,907$9,848$8,883$8,005$5,333
11 years$10,858$9,710$8,670$7,731$6,885$4,371
12 years$9,851$8,715$7,694$6,781$5,966$3,605
13 years$9,000$7,876$6,874$5,986$5,203$2,989
14 years$8,271$7,159$6,177$5,314$4,561$2,488
15 years$7,640$6,540$5,577$4,739$4,016$2,079
16 years$7,089$6,000$5,056$4,243$3,549$1,741
17 years$6,602$5,526$4,601$3,813$3,147$1,462
18 years$6,171$5,106$4,200$3,436$2,798$1,230
19 years$5,785$4,732$3,845$3,105$2,494$1,036
20 years$5,438$4,398$3,529$2,812$2,228$874
21 years$5,124$4,096$3,246$2,552$1,993$738
22 years$4,840$3,824$2,991$2,320$1,787$624
23 years$4,581$3,576$2,762$2,113$1,604$528
24 years$4,343$3,351$2,554$1,927$1,442$447
25 years$4,125$3,144$2,366$1,760$1,297$378
26 years$3,924$2,955$2,194$1,609$1,169$321
27 years$3,738$2,781$2,038$1,473$1,054$272
28 years$3,566$2,621$1,894$1,350$951$231
29 years$3,406$2,472$1,763$1,238$858$196
30 years$3,257$2,335$1,642$1,136$776$166
31 years$3,118$2,207$1,531$1,043$701$141
32 years$2,987$2,088$1,428$959$634$120
33 years$2,865$1,978$1,333$882$574$101
34 years$2,751$1,875$1,246$811$520$86
35 years$2,643$1,778$1,165$747$471$73
36 years$2,541$1,688$1,090$688$427$62
37 years$2,445$1,603$1,020$634$387$53
38 years$2,355$1,523$955$584$350$45
39 years$2,269$1,448$895$539$318$38
40 years$2,187$1,378$839$497$288$32
41 years$2,110$1,312$786$458$262$27
42 years$2,037$1,249$738$423$237$23
43 years$1,967$1,190$692$390$215$20
44 years$1,901$1,135$650$361$195$17
45 years$1,838$1,082$610$333$177$14
46 years$1,778$1,032$573$308$161$12
47 years$1,720$985$538$284$146$10
48 years$1,665$940$506$263$133$9
49 years$1,612$898$476$243$121$7
50 years$1,562$858$447$224$110$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,600,000, adding $3,590 every year, while hoping to spend $48,985 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: 58/29/13 Blend
70$1,600,000$1,600,000$1,600,000$1,600,000
71$1,766,903$1,682,103$1,657,303$1,863,425
72$1,895,008$1,712,406$1,660,703$1,959,319
73$2,034,537$1,742,553$1,662,575$2,058,051
74$2,186,605$1,772,483$1,662,817$2,164,515
75$2,352,437$1,802,133$1,661,319$2,279,463
76$2,533,382$1,831,434$1,657,970$2,403,719
77$2,730,924$1,860,312$1,652,650$2,538,195
78$2,946,699$1,888,688$1,645,234$2,683,895
79$3,182,506$1,916,477$1,635,592$2,841,925
80$3,440,324$1,943,587$1,623,588$3,013,505
81$3,722,337$1,969,922$1,609,077$3,199,982
82$4,030,944$1,995,377$1,591,910$3,402,837
83$4,368,790$2,019,841$1,571,929$3,623,706
84$4,738,787$2,043,194$1,548,969$3,864,393
85$5,144,142$2,065,309$1,522,859$4,126,884
86$5,588,387$2,086,051$1,493,416$4,413,372
87$6,075,409$2,105,274$1,460,453$4,726,274
88$6,609,494$2,122,826$1,423,771$5,068,254
89$7,195,359$2,138,541$1,383,164$5,442,249
90$7,838,200$2,152,244$1,338,415$5,851,501
91$8,543,742$2,163,750$1,289,297$6,299,579
92$9,318,290$2,172,859$1,235,575$6,790,422
93$10,168,789$2,179,363$1,177,000$7,328,373
94$11,102,890$2,183,036$1,113,313$7,918,218
95$12,129,021$2,183,641$1,044,246$8,565,237
96$13,256,467$2,180,925$969,514$9,275,249
97$14,495,456$2,174,620$888,822$10,054,671
98$15,857,257$2,164,441$801,862$10,910,577
99$17,354,285$2,150,087$708,312$11,850,767
100$19,000,217$2,131,236$607,836$12,883,842