Can I retire at age 71 with 1,720,000?

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 $1,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$142,036$140,771$139,536$138,332$137,155$133,245
2 years$70,315$69,005$67,736$66,506$65,312$61,403
3 years$46,411$45,096$43,830$42,611$41,437$37,652
4 years$34,461$33,150$31,897$30,699$29,553$25,921
5 years$27,293$25,990$24,753$23,580$22,466$18,996
6 years$22,516$21,223$20,004$18,857$17,776$14,472
7 years$19,106$17,823$16,624$15,503$14,457$11,319
8 years$16,549$15,278$14,098$13,005$11,993$9,019
9 years$14,561$13,302$12,143$11,078$10,100$7,287
10 years$12,972$11,725$10,586$9,549$8,606$5,950
11 years$11,672$10,438$9,320$8,310$7,401$4,899
12 years$10,590$9,369$8,271$7,289$6,414$4,059
13 years$9,675$8,466$7,390$6,435$5,593$3,382
14 years$8,892$7,696$6,640$5,713$4,903$2,829
15 years$8,213$7,030$5,995$5,095$4,317$2,375
16 years$7,620$6,450$5,435$4,562$3,815$1,999
17 years$7,098$5,940$4,946$4,099$3,383$1,687
18 years$6,633$5,489$4,515$3,694$3,008$1,427
19 years$6,219$5,087$4,133$3,338$2,681$1,208
20 years$5,846$4,727$3,793$3,023$2,395$1,025
21 years$5,509$4,403$3,489$2,743$2,143$870
22 years$5,203$4,110$3,216$2,494$1,921$740
23 years$4,924$3,844$2,969$2,272$1,724$629
24 years$4,669$3,602$2,746$2,072$1,550$536
25 years$4,434$3,380$2,543$1,892$1,395$456
26 years$4,218$3,177$2,359$1,730$1,256$389
27 years$4,019$2,990$2,190$1,584$1,133$331
28 years$3,834$2,817$2,036$1,451$1,022$283
29 years$3,661$2,658$1,895$1,331$923$241
30 years$3,501$2,510$1,765$1,221$834$206
31 years$3,352$2,373$1,645$1,121$754$176
32 years$3,212$2,245$1,535$1,031$682$150
33 years$3,080$2,126$1,433$948$617$128
34 years$2,957$2,015$1,339$872$559$109
35 years$2,841$1,911$1,252$803$506$93
36 years$2,732$1,814$1,171$739$459$80
37 years$2,629$1,723$1,096$681$416$68
38 years$2,531$1,637$1,027$628$377$58
39 years$2,439$1,557$962$579$342$50
40 years$2,352$1,481$902$534$310$43
41 years$2,269$1,410$845$493$281$36
42 years$2,190$1,343$793$455$255$31
43 years$2,115$1,280$744$420$232$27
44 years$2,044$1,220$699$388$210$23
45 years$1,976$1,163$656$358$191$19
46 years$1,911$1,110$616$331$173$17
47 years$1,849$1,059$579$305$157$14
48 years$1,790$1,011$544$282$143$12
49 years$1,733$965$511$261$130$10
50 years$1,679$922$481$241$118$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,720,000, adding $3,081 every year, while hoping to spend $28,626 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: 35/40/25 Blend
70$1,720,000$1,720,000$1,720,000$1,720,000
71$1,898,618$1,807,458$1,780,798$1,950,618
72$2,061,819$1,865,566$1,809,997$2,047,632
73$2,240,708$1,925,561$1,839,215$2,149,414
74$2,436,853$1,987,507$1,868,421$2,258,669
75$2,651,984$2,051,467$1,897,586$2,376,083
76$2,888,006$2,117,508$1,926,674$2,502,410
77$3,147,015$2,185,699$1,955,651$2,638,479
78$3,431,324$2,256,111$1,984,478$2,785,201
79$3,743,476$2,328,818$2,013,115$2,943,579
80$4,086,276$2,403,895$2,041,520$3,114,714
81$4,462,811$2,481,421$2,069,646$3,299,819
82$4,876,485$2,561,478$2,097,446$3,500,229
83$5,331,046$2,644,149$2,124,870$3,717,411
84$5,830,622$2,729,522$2,151,862$3,952,980
85$6,379,763$2,817,686$2,178,367$4,208,714
86$6,983,480$2,908,734$2,204,324$4,486,569
87$7,647,295$3,002,763$2,229,669$4,788,700
88$8,377,292$3,099,871$2,254,336$5,117,477
89$9,180,173$3,200,161$2,278,253$5,475,510
90$10,063,322$3,303,741$2,301,346$5,865,672
91$11,034,875$3,410,718$2,323,536$6,291,128
92$12,103,798$3,521,209$2,344,739$6,755,362
93$13,279,966$3,635,329$2,364,869$7,262,210
94$14,574,264$3,753,201$2,383,833$7,815,897
95$15,998,681$3,874,951$2,401,534$8,421,075
96$17,566,432$4,000,708$2,417,871$9,082,870
97$19,292,073$4,130,608$2,432,734$9,806,925
98$21,191,647$4,264,790$2,446,013$10,599,456
99$23,282,828$4,403,398$2,457,588$11,467,312
100$25,585,093$4,546,581$2,467,333$12,418,035