Can I retire at age 71 with 1,700,000?

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 $1,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$140,384$139,134$137,914$136,723$135,560$131,064
2 years$69,497$68,203$66,949$65,732$64,553$60,066
3 years$45,871$44,571$43,320$42,115$40,955$36,619
4 years$34,061$32,765$31,526$30,342$29,209$25,057
5 years$26,976$25,688$24,465$23,305$22,204$18,248
6 years$22,255$20,976$19,772$18,637$17,570$13,811
7 years$18,883$17,616$16,430$15,323$14,289$10,728
8 years$16,356$15,100$13,934$12,854$11,854$8,488
9 years$14,392$13,147$12,002$10,949$9,983$6,808
10 years$12,821$11,589$10,463$9,438$8,506$5,518
11 years$11,537$10,317$9,212$8,214$7,315$4,507
12 years$10,467$9,260$8,175$7,205$6,339$3,706
13 years$9,563$8,368$7,304$6,361$5,528$3,062
14 years$8,788$7,606$6,563$5,646$4,846$2,540
15 years$8,118$6,949$5,925$5,035$4,267$2,114
16 years$7,532$6,375$5,372$4,509$3,771$1,765
17 years$7,015$5,871$4,888$4,051$3,343$1,476
18 years$6,556$5,425$4,462$3,651$2,973$1,237
19 years$6,146$5,028$4,085$3,299$2,650$1,038
20 years$5,778$4,672$3,749$2,988$2,367$873
21 years$5,445$4,352$3,448$2,712$2,118$734
22 years$5,142$4,063$3,178$2,465$1,899$618
23 years$4,867$3,800$2,935$2,245$1,704$521
24 years$4,615$3,560$2,714$2,048$1,532$439
25 years$4,383$3,341$2,514$1,870$1,378$371
26 years$4,169$3,140$2,331$1,710$1,242$313
27 years$3,972$2,955$2,165$1,565$1,119$264
28 years$3,789$2,784$2,013$1,434$1,010$223
29 years$3,619$2,627$1,873$1,315$912$188
30 years$3,460$2,481$1,744$1,207$824$159
31 years$3,313$2,345$1,626$1,108$745$135
32 years$3,174$2,219$1,517$1,019$674$114
33 years$3,044$2,101$1,417$937$610$96
34 years$2,923$1,992$1,324$862$552$81
35 years$2,808$1,889$1,238$793$500$69
36 years$2,700$1,793$1,158$731$453$58
37 years$2,598$1,703$1,084$673$411$49
38 years$2,502$1,618$1,015$621$372$42
39 years$2,411$1,539$951$572$338$35
40 years$2,324$1,464$891$528$306$30
41 years$2,242$1,394$836$487$278$25
42 years$2,164$1,327$784$449$252$21
43 years$2,090$1,265$736$415$229$18
44 years$2,020$1,206$690$383$208$15
45 years$1,953$1,150$648$354$189$13
46 years$1,889$1,097$609$327$171$11
47 years$1,828$1,047$572$302$155$9
48 years$1,769$999$538$279$141$8
49 years$1,713$954$505$258$128$7
50 years$1,660$911$475$238$116$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,700,000, adding $6,494 every year, while hoping to spend $53,431 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: 65/6/29 Blend
70$1,700,000$1,700,000$1,700,000$1,700,000
71$1,880,099$1,789,999$1,763,649$1,987,440
72$2,015,018$1,820,858$1,765,881$2,091,712
73$2,161,909$1,851,439$1,766,397$2,199,151
74$2,321,936$1,881,672$1,765,083$2,315,433
75$2,496,380$1,911,480$1,761,820$2,441,436
76$2,686,652$1,940,784$1,756,482$2,578,127
77$2,894,304$1,969,496$1,748,938$2,726,574
78$3,121,046$1,997,524$1,739,050$2,887,955
79$3,368,758$2,024,768$1,726,673$3,063,567
80$3,639,512$2,051,122$1,711,657$3,254,842
81$3,935,588$2,076,473$1,693,843$3,463,359
82$4,259,496$2,100,698$1,673,065$3,690,858
83$4,614,000$2,123,669$1,649,149$3,939,261
84$5,002,146$2,145,246$1,621,913$4,210,683
85$5,427,284$2,165,282$1,591,166$4,507,460
86$5,893,106$2,183,620$1,556,710$4,832,167
87$6,403,677$2,200,092$1,518,334$5,187,643
88$6,963,476$2,214,520$1,475,821$5,577,018
89$7,577,432$2,226,713$1,428,943$6,003,744
90$8,250,977$2,236,469$1,377,460$6,471,628
91$8,990,095$2,243,575$1,321,123$6,984,868
92$9,801,375$2,247,800$1,259,671$7,548,090
93$10,692,075$2,248,902$1,192,830$8,166,398
94$11,670,192$2,246,623$1,120,315$8,845,417
95$12,744,534$2,240,690$1,041,828$9,591,350
96$13,924,804$2,230,812$957,057$10,411,038
97$15,221,693$2,216,680$865,676$11,312,019
98$16,646,975$2,197,967$767,346$12,302,607
99$18,213,625$2,174,326$661,711$13,391,967
100$19,935,936$2,145,389$548,400$14,590,202