Can I retire at age 71 with 1,950,000?

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 $1,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$161,029$159,595$158,195$156,829$155,496$151,185
2 years$79,717$78,233$76,794$75,399$74,046$69,735
3 years$52,617$51,126$49,691$48,309$46,978$42,802
4 years$39,070$37,583$36,162$34,804$33,505$29,496
5 years$30,943$29,466$28,063$26,733$25,470$21,639
6 years$25,527$24,061$22,679$21,378$20,153$16,504
7 years$21,660$20,206$18,847$17,576$16,390$12,922
8 years$18,761$17,320$15,983$14,744$13,597$10,309
9 years$16,508$15,081$13,767$12,559$11,451$8,340
10 years$14,706$13,293$12,002$10,826$9,757$6,818
11 years$13,233$11,834$10,566$9,422$8,391$5,620
12 years$12,006$10,621$9,377$8,264$7,271$4,664
13 years$10,969$9,599$8,378$7,296$6,341$3,890
14 years$10,081$8,725$7,528$6,477$5,558$3,259
15 years$9,312$7,970$6,797$5,776$4,894$2,739
16 years$8,639$7,313$6,162$5,172$4,325$2,310
17 years$8,047$6,735$5,607$4,647$3,835$1,952
18 years$7,520$6,223$5,119$4,188$3,410$1,653
19 years$7,050$5,768$4,686$3,784$3,039$1,402
20 years$6,627$5,359$4,300$3,427$2,715$1,191
21 years$6,245$4,992$3,956$3,110$2,430$1,013
22 years$5,899$4,660$3,646$2,828$2,178$862
23 years$5,583$4,358$3,366$2,575$1,955$735
24 years$5,293$4,084$3,113$2,349$1,757$626
25 years$5,027$3,832$2,883$2,145$1,581$534
26 years$4,782$3,602$2,674$1,961$1,424$456
27 years$4,556$3,390$2,483$1,795$1,284$389
28 years$4,346$3,194$2,308$1,645$1,159$333
29 years$4,151$3,013$2,148$1,508$1,046$284
30 years$3,969$2,846$2,001$1,384$945$243
31 years$3,800$2,690$1,865$1,271$855$208
32 years$3,641$2,545$1,741$1,169$773$178
33 years$3,492$2,410$1,625$1,075$700$152
34 years$3,352$2,285$1,518$989$633$130
35 years$3,221$2,167$1,420$910$574$111
36 years$3,097$2,057$1,328$838$520$95
37 years$2,980$1,953$1,243$772$471$81
38 years$2,870$1,856$1,164$712$427$70
39 years$2,765$1,765$1,091$656$387$60
40 years$2,666$1,679$1,022$605$351$51
41 years$2,572$1,599$958$559$319$44
42 years$2,483$1,523$899$515$289$37
43 years$2,398$1,451$844$476$262$32
44 years$2,317$1,383$792$439$238$27
45 years$2,240$1,319$744$406$216$23
46 years$2,166$1,258$698$375$196$20
47 years$2,096$1,200$656$346$178$17
48 years$2,029$1,146$617$320$162$15
49 years$1,965$1,094$580$296$147$13
50 years$1,904$1,045$545$273$134$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,950,000, adding $3,479 every year, while hoping to spend $54,164 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: 57/31/12 Blend
70$1,950,000$1,950,000$1,950,000$1,950,000
71$2,152,489$2,049,139$2,018,914$2,268,532
72$2,314,412$2,091,916$2,028,917$2,390,129
73$2,491,037$2,134,975$2,037,440$2,516,274
74$2,683,805$2,178,271$2,044,377$2,652,444
75$2,894,303$2,221,756$2,049,614$2,799,606
76$3,124,281$2,265,381$2,053,034$2,958,828
77$3,375,660$2,309,087$2,054,514$3,131,286
78$3,650,561$2,352,816$2,053,923$3,318,272
79$3,951,315$2,396,500$2,051,126$3,521,216
80$4,280,490$2,440,070$2,045,980$3,741,689
81$4,640,914$2,483,448$2,038,335$3,981,423
82$5,035,702$2,526,551$2,028,034$4,242,330
83$5,468,283$2,569,292$2,014,912$4,526,515
84$5,942,434$2,611,573$1,998,797$4,836,296
85$6,462,314$2,653,292$1,979,509$5,174,232
86$7,032,505$2,694,338$1,956,858$5,543,140
87$7,658,053$2,734,594$1,930,645$5,946,129
88$8,344,517$2,773,931$1,900,664$6,386,621
89$9,098,018$2,812,214$1,866,697$6,868,393
90$9,925,300$2,849,297$1,828,516$7,395,604
91$10,833,793$2,885,025$1,785,883$7,972,841
92$11,831,680$2,919,231$1,738,550$8,605,160
93$12,927,975$2,951,737$1,686,256$9,298,133
94$14,132,611$2,982,355$1,628,727$10,057,904
95$15,456,528$3,010,881$1,565,681$10,891,244
96$16,911,780$3,037,100$1,496,817$11,805,619
97$18,511,646$3,060,782$1,421,825$12,809,255
98$20,270,757$3,081,684$1,340,379$13,911,224
99$22,205,231$3,099,543$1,252,139$15,121,523
100$24,332,827$3,114,084$1,156,748$16,451,174