Can I retire at age 71 with 1,620,000?

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 $1,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$133,778$132,586$131,424$130,289$129,181$128,475
2 years$66,227$64,993$63,798$62,639$61,515$60,802
3 years$43,713$42,474$41,282$40,133$39,028$38,330
4 years$32,458$31,223$30,042$28,914$27,835$27,159
5 years$25,707$24,479$23,314$22,209$21,160$20,507
6 years$21,207$19,989$18,841$17,760$16,743$16,114
7 years$17,995$16,787$15,657$14,602$13,616$13,011
8 years$15,586$14,389$13,279$12,249$11,296$10,715
9 years$13,714$12,528$11,437$10,434$9,513$8,956
10 years$12,217$11,043$9,971$8,994$8,106$7,573
11 years$10,994$9,831$8,778$7,827$6,971$6,462
12 years$9,974$8,824$7,790$6,866$6,041$5,555
13 years$9,113$7,974$6,960$6,061$5,268$4,804
14 years$8,375$7,248$6,254$5,381$4,618$4,176
15 years$7,736$6,622$5,646$4,798$4,066$3,646
16 years$7,177$6,075$5,119$4,297$3,593$3,194
17 years$6,685$5,595$4,658$3,860$3,186$2,807
18 years$6,248$5,170$4,252$3,479$2,833$2,473
19 years$5,857$4,791$3,893$3,144$2,525$2,185
20 years$5,506$4,452$3,573$2,847$2,255$1,933
21 years$5,189$4,147$3,286$2,584$2,018$1,714
22 years$4,900$3,871$3,029$2,349$1,809$1,522
23 years$4,638$3,621$2,797$2,140$1,624$1,353
24 years$4,397$3,392$2,586$1,951$1,460$1,204
25 years$4,177$3,184$2,395$1,782$1,314$1,073
26 years$3,973$2,992$2,222$1,630$1,183$957
27 years$3,785$2,816$2,063$1,492$1,067$854
28 years$3,611$2,653$1,918$1,367$963$763
29 years$3,449$2,503$1,785$1,253$869$681
30 years$3,298$2,364$1,662$1,150$785$609
31 years$3,157$2,235$1,550$1,056$710$545
32 years$3,025$2,115$1,446$971$642$488
33 years$2,901$2,003$1,350$893$581$437
34 years$2,785$1,898$1,261$821$526$391
35 years$2,676$1,800$1,179$756$477$351
36 years$2,573$1,709$1,103$696$432$314
37 years$2,476$1,623$1,033$642$391$282
38 years$2,384$1,542$967$591$355$253
39 years$2,297$1,467$906$545$322$227
40 years$2,215$1,395$849$503$292$203
41 years$2,137$1,328$796$464$265$182
42 years$2,062$1,265$747$428$240$164
43 years$1,992$1,205$701$395$218$147
44 years$1,925$1,149$658$365$198$132
45 years$1,861$1,095$618$337$180$118
46 years$1,800$1,045$580$311$163$106
47 years$1,742$997$545$288$148$95
48 years$1,686$952$512$266$135$86
49 years$1,633$909$481$246$122$77
50 years$1,582$868$453$227$111$69

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,620,000, adding $5,516 every year, while hoping to spend $38,415 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: 84/10/6 Blend
70$1,620,000$1,620,000$1,620,000$1,620,000
71$1,790,930$1,705,070$1,679,960$1,940,337
72$1,932,731$1,747,745$1,695,365$2,081,343
73$2,087,709$1,791,224$1,709,999$2,230,391
74$2,257,167$1,835,505$1,723,795$2,392,878
75$2,442,539$1,880,586$1,736,684$2,570,128
76$2,645,406$1,926,463$1,748,591$2,763,600
77$2,867,508$1,973,130$1,759,439$2,974,898
78$3,110,761$2,020,581$1,769,148$3,205,792
79$3,377,275$2,068,805$1,777,630$3,458,227
80$3,669,374$2,117,793$1,784,798$3,734,348
81$3,989,617$2,167,532$1,790,555$4,036,518
82$4,340,822$2,218,006$1,794,803$4,367,337
83$4,726,095$2,269,197$1,797,438$4,729,672
84$5,148,854$2,321,085$1,798,350$5,126,680
85$5,612,867$2,373,648$1,797,425$5,561,837
86$6,122,283$2,426,860$1,794,541$6,038,974
87$6,681,671$2,480,692$1,789,574$6,562,312
88$7,296,067$2,535,111$1,782,390$7,136,498
89$7,971,016$2,590,082$1,772,851$7,766,656
90$8,712,629$2,645,565$1,760,810$8,458,428
91$9,527,637$2,701,517$1,746,117$9,218,031
92$10,423,454$2,757,889$1,728,610$10,052,313
93$11,408,250$2,814,630$1,708,122$10,968,823
94$12,491,026$2,871,682$1,684,479$11,975,874
95$13,681,698$2,928,982$1,657,496$13,082,629
96$14,991,192$2,986,462$1,626,982$14,299,182
97$16,431,543$3,044,048$1,592,736$15,636,654
98$18,016,014$3,101,660$1,554,547$17,107,302
99$19,759,218$3,159,212$1,512,194$18,724,628
100$21,677,254$3,216,609$1,465,449$20,503,514