Can I retire at age 71 with 1,680,000?

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 $1,680,000?

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$138,733$137,497$136,291$135,115$133,966$130,515
2 years$68,680$67,401$66,161$64,959$63,793$60,340
3 years$45,332$44,047$42,810$41,620$40,473$37,125
4 years$33,660$32,379$31,155$29,985$28,866$25,649
5 years$26,659$25,386$24,178$23,031$21,943$18,866
6 years$21,993$20,729$19,539$18,418$17,363$14,428
7 years$18,661$17,408$16,237$15,143$14,121$11,329
8 years$16,164$14,922$13,770$12,703$11,714$9,065
9 years$14,222$12,993$11,860$10,820$9,865$7,355
10 years$12,670$11,452$10,340$9,327$8,406$6,032
11 years$11,401$10,195$9,103$8,117$7,229$4,988
12 years$10,344$9,151$8,079$7,120$6,265$4,153
13 years$9,450$8,270$7,218$6,286$5,463$3,476
14 years$8,685$7,517$6,485$5,580$4,789$2,922
15 years$8,022$6,867$5,855$4,976$4,216$2,465
16 years$7,443$6,300$5,309$4,456$3,726$2,085
17 years$6,932$5,802$4,831$4,003$3,304$1,769
18 years$6,479$5,361$4,410$3,608$2,938$1,503
19 years$6,074$4,969$4,037$3,260$2,619$1,280
20 years$5,710$4,617$3,705$2,953$2,339$1,091
21 years$5,381$4,301$3,408$2,680$2,093$932
22 years$5,082$4,015$3,141$2,436$1,876$796
23 years$4,810$3,755$2,900$2,219$1,684$681
24 years$4,560$3,518$2,682$2,024$1,514$583
25 years$4,331$3,302$2,484$1,848$1,362$499
26 years$4,120$3,103$2,304$1,690$1,227$428
27 years$3,925$2,920$2,139$1,547$1,106$367
28 years$3,744$2,752$1,989$1,417$998$315
29 years$3,576$2,596$1,851$1,300$901$270
30 years$3,420$2,452$1,724$1,193$814$232
31 years$3,274$2,318$1,607$1,095$736$199
32 years$3,137$2,193$1,500$1,007$666$171
33 years$3,009$2,077$1,400$926$603$147
34 years$2,888$1,968$1,308$852$546$126
35 years$2,775$1,867$1,223$784$494$108
36 years$2,668$1,772$1,144$722$448$93
37 years$2,567$1,683$1,071$665$406$80
38 years$2,472$1,599$1,003$613$368$69
39 years$2,382$1,521$940$565$334$59
40 years$2,297$1,447$881$522$303$51
41 years$2,216$1,377$826$481$275$44
42 years$2,139$1,312$775$444$249$38
43 years$2,066$1,250$727$410$226$32
44 years$1,996$1,191$682$379$205$28
45 years$1,930$1,136$641$350$186$24
46 years$1,866$1,084$602$323$169$20
47 years$1,806$1,034$565$298$154$18
48 years$1,748$987$531$276$140$15
49 years$1,693$943$499$255$127$13
50 years$1,640$901$469$235$115$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,680,000, adding $2,278 every year, while hoping to spend $51,429 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: 42/31/27 Blend
70$1,680,000$1,680,000$1,680,000$1,680,000
71$1,853,710$1,764,670$1,738,630$1,916,822
72$1,988,068$1,796,419$1,742,154$1,994,144
73$2,134,407$1,827,999$1,744,072$2,072,797
74$2,293,895$1,859,350$1,744,277$2,156,985
75$2,467,817$1,890,402$1,742,654$2,247,251
76$2,657,587$1,921,084$1,739,086$2,344,193
77$2,864,762$1,951,319$1,733,447$2,448,471
78$3,091,056$1,981,022$1,725,605$2,560,815
79$3,338,356$2,010,104$1,715,425$2,682,031
80$3,608,738$2,038,469$1,702,763$2,813,010
81$3,904,491$2,066,016$1,687,467$2,954,734
82$4,228,132$2,092,633$1,669,380$3,108,289
83$4,582,434$2,118,205$1,648,336$3,274,875
84$4,970,450$2,142,605$1,624,163$3,455,817
85$5,395,543$2,165,699$1,596,680$3,652,575
86$5,861,416$2,187,346$1,565,696$3,866,766
87$6,372,147$2,207,393$1,531,013$4,100,173
88$6,932,228$2,225,677$1,492,424$4,354,762
89$7,546,605$2,242,026$1,449,711$4,632,708
90$8,220,729$2,256,255$1,402,647$4,936,410
91$8,960,602$2,268,170$1,350,993$5,268,515
92$9,772,834$2,277,561$1,294,502$5,631,948
93$10,664,709$2,284,207$1,232,914$6,029,933
94$11,644,249$2,287,872$1,165,956$6,466,033
95$12,720,291$2,288,308$1,093,345$6,944,177
96$13,902,573$2,285,246$1,014,784$7,468,703
97$15,201,819$2,278,407$929,962$8,044,396
98$16,629,845$2,267,489$838,557$8,676,538
99$18,199,669$2,252,176$740,228$9,370,957
100$19,925,633$2,232,131$634,624$10,134,082