Can I retire at age 71 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$160,203$158,776$157,384$156,025$154,698$152,261
2 years$79,309$77,832$76,400$75,012$73,666$71,217
3 years$52,347$50,864$49,436$48,061$46,737$44,352
4 years$38,869$37,390$35,977$34,625$33,333$31,031
5 years$30,784$29,314$27,919$26,596$25,339$23,126
6 years$25,396$23,937$22,563$21,269$20,050$17,929
7 years$21,549$20,103$18,750$17,486$16,306$14,277
8 years$18,665$17,232$15,901$14,669$13,527$11,591
9 years$16,423$15,003$13,696$12,494$11,392$9,547
10 years$14,631$13,225$11,940$10,770$9,707$7,951
11 years$13,165$11,773$10,512$9,373$8,348$6,680
12 years$11,945$10,567$9,329$8,222$7,234$5,652
13 years$10,913$9,549$8,335$7,259$6,308$4,810
14 years$10,029$8,680$7,489$6,443$5,530$4,112
15 years$9,264$7,929$6,762$5,746$4,869$3,530
16 years$8,595$7,275$6,130$5,145$4,303$3,040
17 years$8,005$6,700$5,578$4,623$3,816$2,625
18 years$7,482$6,191$5,092$4,166$3,393$2,273
19 years$7,014$5,738$4,662$3,765$3,024$1,971
20 years$6,593$5,332$4,278$3,409$2,701$1,713
21 years$6,213$4,967$3,935$3,094$2,417$1,490
22 years$5,868$4,636$3,627$2,813$2,167$1,298
23 years$5,554$4,336$3,349$2,562$1,945$1,132
24 years$5,266$4,063$3,097$2,337$1,748$989
25 years$5,002$3,813$2,869$2,134$1,573$864
26 years$4,758$3,583$2,660$1,951$1,417$755
27 years$4,533$3,372$2,470$1,786$1,277$661
28 years$4,324$3,178$2,297$1,637$1,153$578
29 years$4,130$2,998$2,137$1,501$1,041$507
30 years$3,949$2,831$1,991$1,377$940$444
31 years$3,780$2,676$1,856$1,265$850$389
32 years$3,622$2,532$1,732$1,163$769$341
33 years$3,474$2,398$1,617$1,069$696$299
34 years$3,335$2,273$1,511$984$630$262
35 years$3,204$2,156$1,412$905$571$230
36 years$3,081$2,046$1,321$834$517$202
37 years$2,965$1,943$1,237$768$469$177
38 years$2,855$1,847$1,158$708$425$156
39 years$2,751$1,756$1,085$653$385$137
40 years$2,652$1,671$1,017$602$350$120
41 years$2,559$1,591$954$556$317$105
42 years$2,470$1,515$894$513$288$93
43 years$2,385$1,443$839$473$261$81
44 years$2,305$1,376$788$437$237$71
45 years$2,228$1,312$740$404$215$63
46 years$2,155$1,251$695$373$195$55
47 years$2,086$1,194$653$345$177$48
48 years$2,019$1,140$613$318$161$43
49 years$1,955$1,089$577$294$146$37
50 years$1,894$1,040$542$272$133$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,940,000, adding $5,863 every year, while hoping to spend $36,433 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: 52/37/11 Blend
70$1,940,000$1,940,000$1,940,000$1,940,000
71$2,143,928$2,041,108$2,011,038$2,248,944
72$2,323,844$2,102,358$2,039,643$2,382,422
73$2,520,890$2,165,388$2,067,986$2,523,115
74$2,736,776$2,230,246$2,096,018$2,675,281
75$2,973,383$2,296,984$2,123,690$2,840,012
76$3,232,784$2,365,652$2,150,950$3,018,511
77$3,517,261$2,436,302$2,177,740$3,212,098
78$3,829,329$2,508,988$2,204,001$3,422,229
79$4,171,757$2,583,765$2,229,672$3,650,506
80$4,547,595$2,660,689$2,254,685$3,898,690
81$4,960,205$2,739,817$2,278,971$4,168,722
82$5,413,286$2,821,209$2,302,457$4,462,737
83$5,910,916$2,904,923$2,325,065$4,783,085
84$6,457,587$2,991,022$2,346,712$5,132,357
85$7,058,247$3,079,568$2,367,313$5,513,401
86$7,718,346$3,170,625$2,386,776$5,929,356
87$8,443,891$3,264,259$2,405,006$6,383,678
88$9,241,497$3,360,537$2,421,903$6,880,173
89$10,118,453$3,459,527$2,437,360$7,423,032
90$11,082,790$3,561,298$2,451,267$8,016,872
91$12,143,355$3,665,922$2,463,505$8,666,777
92$13,309,897$3,773,472$2,473,952$9,378,348
93$14,593,156$3,884,021$2,482,478$10,157,753
94$16,004,964$3,997,645$2,488,948$11,011,787
95$17,558,362$4,114,420$2,493,219$11,947,937
96$19,267,714$4,234,426$2,495,141$12,974,447
97$21,148,849$4,357,742$2,494,556$14,100,401
98$23,219,209$4,484,448$2,491,301$15,335,807
99$25,498,011$4,614,629$2,485,202$16,691,690
100$28,006,429$4,748,367$2,476,078$18,180,196