Can I retire at age 71 with 1,920,000?

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 $1,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$158,552$157,140$155,762$154,417$153,103$150,816
2 years$78,491$77,029$75,612$74,239$72,906$70,607
3 years$51,808$50,339$48,926$47,566$46,255$44,015
4 years$38,468$37,005$35,606$34,268$32,989$30,826
5 years$30,467$29,012$27,632$26,321$25,078$22,998
6 years$25,135$23,691$22,330$21,049$19,843$17,849
7 years$21,327$19,895$18,557$17,306$16,138$14,229
8 years$18,473$17,054$15,738$14,517$13,388$11,565
9 years$16,254$14,849$13,555$12,366$11,275$9,537
10 years$14,480$13,088$11,817$10,659$9,607$7,952
11 years$13,029$11,652$10,404$9,277$8,262$6,690
12 years$11,822$10,458$9,233$8,137$7,160$5,668
13 years$10,800$9,451$8,249$7,184$6,243$4,829
14 years$9,926$8,591$7,412$6,377$5,473$4,135
15 years$9,168$7,848$6,692$5,687$4,819$3,554
16 years$8,506$7,200$6,067$5,092$4,259$3,065
17 years$7,923$6,631$5,521$4,575$3,776$2,651
18 years$7,405$6,127$5,040$4,123$3,358$2,298
19 years$6,942$5,679$4,614$3,726$2,993$1,996
20 years$6,525$5,277$4,234$3,374$2,673$1,737
21 years$6,149$4,915$3,895$3,062$2,392$1,513
22 years$5,808$4,588$3,590$2,784$2,144$1,321
23 years$5,497$4,291$3,314$2,536$1,925$1,154
24 years$5,212$4,021$3,065$2,313$1,730$1,009
25 years$4,950$3,773$2,839$2,112$1,557$883
26 years$4,709$3,546$2,633$1,931$1,402$773
27 years$4,486$3,337$2,445$1,768$1,264$677
28 years$4,279$3,145$2,273$1,620$1,141$594
29 years$4,087$2,967$2,115$1,485$1,030$521
30 years$3,908$2,802$1,970$1,363$931$457
31 years$3,741$2,649$1,837$1,252$841$401
32 years$3,585$2,506$1,714$1,151$761$353
33 years$3,438$2,373$1,600$1,058$689$310
34 years$3,301$2,249$1,495$973$624$272
35 years$3,171$2,134$1,398$896$565$239
36 years$3,049$2,025$1,308$825$512$210
37 years$2,934$1,923$1,224$760$464$185
38 years$2,825$1,828$1,146$701$421$163
39 years$2,723$1,738$1,074$646$381$143
40 years$2,625$1,654$1,006$596$346$126
41 years$2,532$1,574$944$550$314$111
42 years$2,444$1,499$885$508$285$97
43 years$2,361$1,428$831$469$258$86
44 years$2,281$1,362$780$433$235$75
45 years$2,205$1,298$732$400$213$66
46 years$2,133$1,239$688$369$193$58
47 years$2,064$1,182$646$341$176$51
48 years$1,998$1,128$607$315$159$45
49 years$1,935$1,078$571$291$145$40
50 years$1,875$1,029$536$269$132$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,920,000, adding $6,907 every year, while hoping to spend $34,887 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: 64/26/10 Blend
70$1,920,000$1,920,000$1,920,000$1,920,000
71$2,122,965$2,021,205$1,991,445$2,253,784
72$2,302,387$2,083,124$2,021,038$2,403,874
73$2,498,942$2,146,908$2,050,454$2,563,032
74$2,714,339$2,212,612$2,079,650$2,735,983
75$2,950,463$2,280,291$2,108,579$2,924,066
76$3,209,388$2,350,003$2,137,194$3,128,756
77$3,493,400$2,421,807$2,165,444$3,351,675
78$3,805,015$2,495,765$2,193,276$3,594,609
79$4,147,007$2,571,937$2,220,631$3,859,526
80$4,522,429$2,650,390$2,247,449$4,148,591
81$4,934,646$2,731,188$2,273,668$4,464,188
82$5,387,363$2,814,399$2,299,219$4,808,942
83$5,884,663$2,900,094$2,324,031$5,185,744
84$6,431,043$2,988,342$2,348,031$5,597,778
85$7,031,457$3,079,219$2,371,137$6,048,549
86$7,691,363$3,172,798$2,393,268$6,541,921
87$8,416,775$3,269,158$2,414,335$7,082,145
88$9,214,317$3,368,378$2,434,247$7,673,905
89$10,091,288$3,470,539$2,452,904$8,322,363
90$11,055,729$3,575,725$2,470,206$9,033,202
91$12,116,499$3,684,021$2,486,044$9,812,682
92$13,283,360$3,795,516$2,500,304$10,667,700
93$14,567,067$3,910,300$2,512,868$11,605,854
94$15,979,469$4,028,466$2,523,611$12,635,514
95$17,533,622$4,150,109$2,532,400$13,765,901
96$19,243,914$4,275,326$2,539,097$15,007,174
97$21,126,193$4,404,218$2,543,557$16,370,523
98$23,197,926$4,536,886$2,545,628$17,868,279
99$25,478,357$4,673,436$2,545,149$19,514,028
100$27,988,691$4,813,976$2,541,953$21,322,737