Can I retire at age 71 with 1,960,000?

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$161,855$160,413$159,007$157,634$156,293$153,767
2 years$80,126$78,634$77,188$75,785$74,425$71,887
3 years$52,887$51,388$49,946$48,556$47,218$44,748
4 years$39,270$37,776$36,348$34,982$33,677$31,292
5 years$31,102$29,617$28,207$26,870$25,600$23,309
6 years$25,658$24,184$22,796$21,488$20,257$18,061
7 years$21,771$20,310$18,943$17,666$16,474$14,374
8 years$18,858$17,409$16,065$14,820$13,667$11,663
9 years$16,593$15,158$13,837$12,623$11,510$9,600
10 years$14,782$13,361$12,064$10,881$9,807$7,991
11 years$13,301$11,894$10,621$9,470$8,434$6,709
12 years$12,068$10,676$9,425$8,307$7,309$5,673
13 years$11,025$9,648$8,421$7,333$6,373$4,825
14 years$10,132$8,770$7,566$6,510$5,587$4,122
15 years$9,359$8,011$6,831$5,806$4,919$3,536
16 years$8,684$7,350$6,194$5,198$4,348$3,043
17 years$8,088$6,769$5,636$4,671$3,855$2,626
18 years$7,559$6,255$5,145$4,209$3,428$2,272
19 years$7,086$5,797$4,710$3,803$3,055$1,969
20 years$6,661$5,387$4,323$3,445$2,729$1,709
21 years$6,278$5,018$3,976$3,126$2,442$1,486
22 years$5,929$4,684$3,664$2,842$2,189$1,294
23 years$5,611$4,381$3,383$2,589$1,965$1,128
24 years$5,320$4,104$3,129$2,361$1,766$984
25 years$5,053$3,852$2,898$2,156$1,589$859
26 years$4,807$3,620$2,688$1,972$1,431$750
27 years$4,579$3,407$2,496$1,805$1,291$656
28 years$4,368$3,210$2,320$1,653$1,165$574
29 years$4,172$3,029$2,159$1,516$1,052$502
30 years$3,990$2,860$2,011$1,392$950$440
31 years$3,819$2,704$1,875$1,278$859$385
32 years$3,660$2,558$1,749$1,174$777$337
33 years$3,510$2,423$1,633$1,080$703$296
34 years$3,370$2,296$1,526$994$637$259
35 years$3,237$2,178$1,427$915$577$227
36 years$3,113$2,067$1,335$843$522$199
37 years$2,995$1,963$1,249$776$474$175
38 years$2,884$1,866$1,170$715$429$153
39 years$2,779$1,774$1,096$660$389$134
40 years$2,680$1,688$1,027$608$353$118
41 years$2,585$1,607$963$561$320$103
42 years$2,495$1,530$904$518$291$91
43 years$2,410$1,458$848$478$264$80
44 years$2,329$1,390$796$442$239$70
45 years$2,251$1,325$747$408$217$61
46 years$2,178$1,264$702$377$197$54
47 years$2,107$1,207$660$348$179$47
48 years$2,040$1,152$620$322$163$41
49 years$1,975$1,100$583$297$148$36
50 years$1,914$1,051$548$275$134$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,960,000, adding $2,620 every year, while hoping to spend $37,687 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: 41/48/11 Blend
70$1,960,000$1,960,000$1,960,000$1,960,000
71$2,162,623$2,058,743$2,028,363$2,244,142
72$2,343,111$2,119,522$2,056,214$2,362,415
73$2,540,747$2,182,017$2,083,735$2,486,394
74$2,757,238$2,246,271$2,110,876$2,619,738
75$2,994,468$2,312,330$2,137,582$2,763,314
76$3,254,509$2,380,239$2,163,796$2,918,075
77$3,539,644$2,450,046$2,189,458$3,085,070
78$3,852,388$2,521,798$2,214,505$3,265,452
79$4,195,510$2,595,545$2,238,870$3,460,489
80$4,572,062$2,671,336$2,262,481$3,671,578
81$4,985,403$2,749,223$2,285,265$3,900,252
82$5,439,234$2,829,255$2,307,142$4,148,203
83$5,937,635$2,911,487$2,328,030$4,417,289
84$6,485,095$2,995,972$2,347,840$4,709,557
85$7,086,564$3,082,763$2,366,482$5,027,260
86$7,747,492$3,171,918$2,383,858$5,372,878
87$8,473,885$3,263,490$2,399,866$5,749,140
88$9,272,359$3,357,539$2,414,399$6,159,053
89$10,150,203$3,454,121$2,427,345$6,605,926
90$11,115,446$3,553,296$2,438,583$7,093,404
91$12,176,937$3,655,123$2,447,991$7,625,501
92$13,344,423$3,759,663$2,455,438$8,206,636
93$14,628,644$3,866,976$2,460,785$8,841,677
94$16,041,433$3,977,125$2,463,888$9,535,985
95$17,595,828$4,090,172$2,464,596$10,295,466
96$19,306,193$4,206,181$2,462,751$11,126,624
97$21,188,356$4,325,215$2,458,185$12,036,624
98$23,259,757$4,447,340$2,450,723$13,033,358
99$25,539,612$4,572,619$2,440,182$14,125,519
100$28,049,094$4,701,119$2,426,369$15,322,687