Can I retire at age 71 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$135,430$134,223$133,046$131,898$130,776$128,346
2 years$67,044$65,796$64,586$63,412$62,274$59,835
3 years$44,252$42,998$41,791$40,629$39,509$37,137
4 years$32,858$31,608$30,413$29,271$28,178$25,891
5 years$26,024$24,781$23,602$22,483$21,421$19,225
6 years$21,469$20,236$19,074$17,980$16,950$14,848
7 years$18,217$16,994$15,850$14,782$13,784$11,778
8 years$15,779$14,567$13,442$12,400$11,436$9,523
9 years$13,884$12,683$11,578$10,562$9,630$7,811
10 years$12,368$11,180$10,094$9,105$8,206$6,477
11 years$11,129$9,953$8,887$7,924$7,057$5,418
12 years$10,098$8,933$7,887$6,950$6,116$4,564
13 years$9,225$8,073$7,046$6,136$5,333$3,866
14 years$8,478$7,338$6,331$5,447$4,675$3,290
15 years$7,831$6,703$5,716$4,858$4,116$2,810
16 years$7,266$6,150$5,182$4,350$3,638$2,408
17 years$6,767$5,664$4,716$3,908$3,225$2,069
18 years$6,325$5,234$4,305$3,522$2,868$1,782
19 years$5,929$4,851$3,941$3,182$2,556$1,538
20 years$5,574$4,507$3,617$2,882$2,283$1,329
21 years$5,253$4,199$3,327$2,616$2,043$1,150
22 years$4,961$3,919$3,066$2,378$1,832$997
23 years$4,695$3,666$2,831$2,166$1,644$865
24 years$4,452$3,434$2,618$1,976$1,478$751
25 years$4,228$3,223$2,425$1,804$1,330$652
26 years$4,022$3,029$2,249$1,650$1,198$567
27 years$3,832$2,851$2,088$1,510$1,080$494
28 years$3,655$2,686$1,941$1,383$974$430
29 years$3,491$2,534$1,807$1,269$880$374
30 years$3,338$2,393$1,683$1,164$795$326
31 years$3,196$2,262$1,569$1,069$719$284
32 years$3,062$2,141$1,464$983$650$248
33 years$2,937$2,027$1,367$904$588$216
34 years$2,819$1,921$1,277$831$533$188
35 years$2,709$1,822$1,194$765$483$164
36 years$2,605$1,730$1,117$705$437$143
37 years$2,506$1,643$1,045$650$396$125
38 years$2,413$1,561$979$599$359$109
39 years$2,325$1,485$917$552$326$95
40 years$2,242$1,412$860$509$295$83
41 years$2,163$1,345$806$470$268$73
42 years$2,088$1,281$756$434$243$63
43 years$2,017$1,220$710$400$221$55
44 years$1,949$1,163$666$370$200$48
45 years$1,884$1,109$625$341$182$42
46 years$1,822$1,058$587$315$165$37
47 years$1,763$1,010$552$291$150$32
48 years$1,707$964$519$269$136$28
49 years$1,653$920$487$249$124$24
50 years$1,601$879$458$230$112$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,640,000, adding $3,353 every year, while hoping to spend $36,856 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: 38/48/14 Blend
70$1,640,000$1,640,000$1,640,000$1,640,000
71$1,810,739$1,723,819$1,698,399$1,871,752
72$1,956,219$1,769,071$1,716,080$1,960,875
73$2,115,304$1,815,306$1,733,119$2,053,322
74$2,289,341$1,862,532$1,749,455$2,152,430
75$2,479,816$1,910,758$1,765,024$2,258,816
76$2,688,363$1,959,991$1,779,758$2,373,160
77$2,916,784$2,010,238$1,793,587$2,496,208
78$3,167,061$2,061,505$1,806,438$2,628,784
79$3,441,378$2,113,796$1,818,231$2,771,793
80$3,742,142$2,167,115$1,828,884$2,926,232
81$4,071,999$2,221,463$1,838,311$3,093,198
82$4,433,870$2,276,841$1,846,421$3,273,902
83$4,830,967$2,333,248$1,853,118$3,469,674
84$5,266,830$2,390,682$1,858,302$3,681,982
85$5,745,359$2,449,138$1,861,868$3,912,440
86$6,270,849$2,508,609$1,863,704$4,162,829
87$6,848,032$2,569,088$1,863,695$4,435,109
88$7,482,121$2,630,563$1,861,718$4,731,440
89$8,178,859$2,693,021$1,857,647$5,054,201
90$8,944,570$2,756,448$1,851,346$5,406,016
91$9,786,226$2,820,823$1,842,676$5,789,772
92$10,711,504$2,886,126$1,831,488$6,208,653
93$11,728,863$2,952,332$1,817,628$6,666,166
94$12,847,623$3,019,412$1,800,935$7,166,178
95$14,078,053$3,087,336$1,781,239$7,712,948
96$15,431,466$3,156,067$1,758,362$8,311,169
97$16,920,327$3,225,566$1,732,119$8,966,016
98$18,558,370$3,295,788$1,702,314$9,683,188
99$20,360,726$3,366,684$1,668,744$10,468,968
100$22,344,069$3,438,200$1,631,196$11,330,281