Can I retire at age 71 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$163,507$162,050$160,629$159,242$157,888$153,449
2 years$80,944$79,436$77,975$76,559$75,185$70,746
3 years$53,427$51,913$50,455$49,052$47,700$43,402
4 years$39,671$38,161$36,718$35,339$34,020$29,894
5 years$31,419$29,919$28,495$27,144$25,862$21,920
6 years$25,920$24,431$23,028$21,707$20,463$16,709
7 years$21,994$20,517$19,137$17,847$16,642$13,075
8 years$19,050$17,587$16,229$14,971$13,806$10,425
9 years$16,762$15,313$13,978$12,752$11,627$8,428
10 years$14,932$13,497$12,187$10,992$9,907$6,886
11 years$13,437$12,016$10,729$9,567$8,520$5,673
12 years$12,191$10,785$9,522$8,391$7,383$4,704
13 years$11,138$9,746$8,507$7,408$6,438$3,921
14 years$10,236$8,859$7,644$6,576$5,644$3,283
15 years$9,455$8,093$6,901$5,865$4,969$2,758
16 years$8,772$7,425$6,257$5,251$4,392$2,323
17 years$8,170$6,838$5,693$4,718$3,894$1,962
18 years$7,636$6,319$5,197$4,252$3,463$1,660
19 years$7,159$5,856$4,758$3,842$3,086$1,407
20 years$6,729$5,442$4,367$3,480$2,757$1,194
21 years$6,342$5,069$4,016$3,158$2,467$1,015
22 years$5,989$4,732$3,702$2,871$2,211$863
23 years$5,668$4,425$3,418$2,615$1,985$735
24 years$5,375$4,146$3,161$2,385$1,784$626
25 years$5,105$3,891$2,928$2,178$1,605$534
26 years$4,856$3,657$2,715$1,992$1,446$455
27 years$4,626$3,442$2,521$1,823$1,304$388
28 years$4,413$3,243$2,344$1,670$1,176$332
29 years$4,215$3,059$2,181$1,532$1,062$283
30 years$4,030$2,889$2,032$1,406$960$242
31 years$3,858$2,731$1,894$1,291$868$207
32 years$3,697$2,584$1,767$1,186$785$176
33 years$3,546$2,448$1,650$1,091$710$151
34 years$3,404$2,320$1,542$1,004$643$129
35 years$3,270$2,200$1,441$924$583$110
36 years$3,145$2,088$1,348$851$528$94
37 years$3,026$1,983$1,262$784$478$81
38 years$2,914$1,885$1,182$723$434$69
39 years$2,808$1,792$1,107$666$393$59
40 years$2,707$1,705$1,038$615$357$50
41 years$2,612$1,623$973$567$324$43
42 years$2,521$1,546$913$523$294$37
43 years$2,435$1,473$857$483$267$32
44 years$2,353$1,404$804$446$242$27
45 years$2,274$1,339$755$412$220$23
46 years$2,200$1,277$709$381$199$20
47 years$2,129$1,219$666$352$181$17
48 years$2,060$1,164$626$325$164$14
49 years$1,995$1,111$588$300$149$12
50 years$1,933$1,061$553$278$136$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,980,000, adding $2,619 every year, while hoping to spend $53,874 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: 71/12/17 Blend
70$1,980,000$1,980,000$1,980,000$1,980,000
71$2,184,661$2,079,721$2,049,031$2,330,896
72$2,350,175$2,124,306$2,060,353$2,473,040
73$2,530,766$2,169,270$2,070,247$2,621,888
74$2,727,915$2,214,575$2,078,611$2,783,470
75$2,943,251$2,260,178$2,085,333$2,959,037
76$3,178,570$2,306,034$2,090,300$3,149,966
77$3,435,848$2,352,093$2,093,388$3,357,778
78$3,717,259$2,398,301$2,094,471$3,584,144
79$4,025,200$2,444,598$2,093,416$3,830,907
80$4,362,306$2,490,919$2,090,082$4,100,100
81$4,731,484$2,537,197$2,084,322$4,393,960
82$5,135,931$2,583,355$2,075,982$4,714,953
83$5,579,169$2,629,312$2,064,901$5,065,796
84$6,065,078$2,674,982$2,050,909$5,449,485
85$6,597,929$2,720,270$2,033,828$5,869,319
86$7,182,430$2,765,075$2,013,473$6,328,934
87$7,823,762$2,809,288$1,989,648$6,832,339
88$8,527,634$2,852,792$1,962,150$7,383,949
89$9,300,336$2,895,462$1,930,765$7,988,633
90$10,148,794$2,937,163$1,895,270$8,651,753
91$11,080,640$2,977,752$1,855,430$9,379,223
92$12,104,278$3,017,076$1,811,000$10,177,556
93$13,228,971$3,054,969$1,761,725$11,053,932
94$14,464,919$3,091,255$1,707,335$12,016,265
95$15,823,361$3,125,747$1,647,552$13,073,275
96$17,316,679$3,158,244$1,582,080$14,234,575
97$18,958,515$3,188,532$1,510,614$15,510,756
98$20,763,898$3,216,384$1,432,834$16,913,493
99$22,749,385$3,241,557$1,348,404$18,455,652
100$24,933,221$3,263,792$1,256,974$20,151,414