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

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$135,430$134,223$133,046$131,898$130,776$127,408
2 years$67,044$65,796$64,586$63,412$62,274$58,903
3 years$44,252$42,998$41,791$40,629$39,509$36,241
4 years$32,858$31,608$30,413$29,271$28,178$25,038
5 years$26,024$24,781$23,602$22,483$21,421$18,417
6 years$21,469$20,236$19,074$17,980$16,950$14,085
7 years$18,217$16,994$15,850$14,782$13,784$11,060
8 years$15,779$14,567$13,442$12,400$11,436$8,849
9 years$13,884$12,683$11,578$10,562$9,630$7,180
10 years$12,368$11,180$10,094$9,105$8,206$5,888
11 years$11,129$9,953$8,887$7,924$7,057$4,870
12 years$10,098$8,933$7,887$6,950$6,116$4,054
13 years$9,225$8,073$7,046$6,136$5,333$3,393
14 years$8,478$7,338$6,331$5,447$4,675$2,852
15 years$7,831$6,703$5,716$4,858$4,116$2,406
16 years$7,266$6,150$5,182$4,350$3,638$2,036
17 years$6,767$5,664$4,716$3,908$3,225$1,727
18 years$6,325$5,234$4,305$3,522$2,868$1,468
19 years$5,929$4,851$3,941$3,182$2,556$1,250
20 years$5,574$4,507$3,617$2,882$2,283$1,065
21 years$5,253$4,199$3,327$2,616$2,043$910
22 years$4,961$3,919$3,066$2,378$1,832$777
23 years$4,695$3,666$2,831$2,166$1,644$665
24 years$4,452$3,434$2,618$1,976$1,478$569
25 years$4,228$3,223$2,425$1,804$1,330$487
26 years$4,022$3,029$2,249$1,650$1,198$418
27 years$3,832$2,851$2,088$1,510$1,080$358
28 years$3,655$2,686$1,941$1,383$974$307
29 years$3,491$2,534$1,807$1,269$880$264
30 years$3,338$2,393$1,683$1,164$795$226
31 years$3,196$2,262$1,569$1,069$719$194
32 years$3,062$2,141$1,464$983$650$167
33 years$2,937$2,027$1,367$904$588$143
34 years$2,819$1,921$1,277$831$533$123
35 years$2,709$1,822$1,194$765$483$106
36 years$2,605$1,730$1,117$705$437$91
37 years$2,506$1,643$1,045$650$396$78
38 years$2,413$1,561$979$599$359$67
39 years$2,325$1,485$917$552$326$58
40 years$2,242$1,412$860$509$295$50
41 years$2,163$1,345$806$470$268$43
42 years$2,088$1,281$756$434$243$37
43 years$2,017$1,220$710$400$221$31
44 years$1,949$1,163$666$370$200$27
45 years$1,884$1,109$625$341$182$23
46 years$1,822$1,058$587$315$165$20
47 years$1,763$1,010$552$291$150$17
48 years$1,707$964$519$269$136$15
49 years$1,653$920$487$249$124$13
50 years$1,601$879$458$230$112$11

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 $5,081 every year, while hoping to spend $35,641 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: 76/14/10 Blend
70$1,640,000$1,640,000$1,640,000$1,640,000
71$1,812,521$1,725,601$1,700,181$1,946,698
72$1,959,476$1,772,234$1,719,215$2,082,379
73$2,120,227$1,819,957$1,737,693$2,226,033
74$2,296,141$1,868,786$1,755,557$2,382,491
75$2,488,728$1,918,737$1,772,749$2,553,011
76$2,699,648$1,969,825$1,789,205$2,738,979
77$2,930,730$2,022,064$1,804,861$2,941,922
78$3,183,986$2,075,467$1,819,646$3,163,523
79$3,461,637$2,130,049$1,833,488$3,405,633
80$3,766,123$2,185,820$1,846,309$3,670,293
81$4,100,136$2,242,794$1,858,029$3,959,748
82$4,466,639$2,300,980$1,868,562$4,276,474
83$4,868,897$2,360,389$1,877,819$4,623,197
84$5,310,504$2,421,028$1,885,706$5,002,920
85$5,795,423$2,482,905$1,892,125$5,418,952
86$6,328,015$2,546,027$1,896,970$5,874,936
87$6,913,088$2,610,398$1,900,134$6,374,889
88$7,555,936$2,676,020$1,901,502$6,923,233
89$8,262,393$2,742,897$1,900,953$7,524,841
90$9,038,884$2,811,026$1,898,362$8,185,083
91$9,892,490$2,880,406$1,893,597$8,909,875
92$10,831,010$2,951,032$1,886,519$9,705,734
93$11,863,039$3,022,898$1,876,983$10,579,842
94$12,998,043$3,095,994$1,864,836$11,540,111
95$14,246,454$3,170,308$1,849,919$12,595,260
96$15,619,765$3,245,826$1,832,064$13,754,895
97$17,130,640$3,322,530$1,811,096$15,029,601
98$18,793,029$3,400,399$1,786,833$16,431,041
99$20,622,308$3,479,408$1,759,081$17,972,068
100$22,635,412$3,559,528$1,727,640$19,666,843