Can I retire at age 71 with 1,990,000?

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 $1,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$164,332$162,869$161,440$160,046$158,685$155,864
2 years$81,353$79,838$78,369$76,945$75,564$72,732
3 years$53,696$52,175$50,710$49,300$47,941$45,185
4 years$39,871$38,354$36,904$35,518$34,192$31,534
5 years$31,578$30,070$28,639$27,281$25,992$23,440
6 years$26,051$24,554$23,145$21,817$20,567$18,123
7 years$22,105$20,621$19,233$17,937$16,726$14,392
8 years$19,146$17,676$16,311$15,047$13,876$11,650
9 years$16,847$15,390$14,049$12,816$11,686$9,567
10 years$15,008$13,565$12,248$11,048$9,957$7,943
11 years$13,504$12,077$10,783$9,615$8,563$6,653
12 years$12,253$10,839$9,570$8,434$7,421$5,611
13 years$11,194$9,796$8,550$7,446$6,471$4,759
14 years$10,288$8,904$7,682$6,609$5,672$4,055
15 years$9,503$8,134$6,936$5,894$4,994$3,469
16 years$8,816$7,463$6,288$5,278$4,414$2,977
17 years$8,212$6,873$5,722$4,742$3,914$2,562
18 years$7,675$6,351$5,224$4,274$3,480$2,210
19 years$7,195$5,886$4,782$3,862$3,102$1,909
20 years$6,763$5,469$4,389$3,497$2,771$1,653
21 years$6,374$5,095$4,037$3,174$2,479$1,433
22 years$6,020$4,756$3,720$2,886$2,222$1,243
23 years$5,697$4,448$3,435$2,628$1,995$1,080
24 years$5,402$4,167$3,177$2,397$1,793$940
25 years$5,131$3,911$2,943$2,189$1,614$818
26 years$4,881$3,676$2,729$2,002$1,453$712
27 years$4,649$3,459$2,534$1,832$1,310$621
28 years$4,435$3,259$2,356$1,679$1,182$541
29 years$4,236$3,075$2,192$1,539$1,068$472
30 years$4,051$2,904$2,042$1,413$965$412
31 years$3,878$2,745$1,904$1,298$872$359
32 years$3,716$2,598$1,776$1,192$789$314
33 years$3,564$2,460$1,658$1,097$714$274
34 years$3,421$2,331$1,550$1,009$646$239
35 years$3,287$2,211$1,449$929$586$209
36 years$3,161$2,099$1,355$855$530$183
37 years$3,041$1,993$1,269$788$481$160
38 years$2,928$1,894$1,188$726$436$140
39 years$2,822$1,801$1,113$670$395$122
40 years$2,721$1,714$1,043$618$359$107
41 years$2,625$1,632$978$570$325$93
42 years$2,534$1,554$918$526$295$82
43 years$2,447$1,480$861$486$268$71
44 years$2,364$1,411$808$448$243$62
45 years$2,286$1,346$759$414$221$55
46 years$2,211$1,284$713$382$200$48
47 years$2,139$1,225$670$353$182$42
48 years$2,071$1,170$629$327$165$37
49 years$2,006$1,117$591$302$150$32
50 years$1,943$1,067$556$279$136$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,990,000, adding $5,984 every year, while hoping to spend $28,096 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: 62/26/12 Blend
70$1,990,000$1,990,000$1,990,000$1,990,000
71$2,199,152$2,093,682$2,062,837$2,328,919
72$2,393,572$2,166,379$2,102,049$2,489,330
73$2,606,881$2,241,696$2,141,632$2,660,597
74$2,840,976$2,319,732$2,181,569$2,846,855
75$3,097,947$2,400,590$2,221,843$3,049,556
76$3,380,095$2,484,377$2,262,433$3,270,299
77$3,689,956$2,571,203$2,303,316$3,510,845
78$4,030,324$2,661,184$2,344,469$3,773,131
79$4,404,275$2,754,440$2,385,866$4,059,289
80$4,815,198$2,851,095$2,427,481$4,371,665
81$5,266,830$2,951,280$2,469,282$4,712,843
82$5,763,282$3,055,129$2,511,239$5,085,666
83$6,309,089$3,162,782$2,553,318$5,493,266
84$6,909,244$3,274,386$2,595,482$5,939,089
85$7,569,248$3,390,092$2,637,692$6,426,932
86$8,295,164$3,510,059$2,679,907$6,960,975
87$9,093,669$3,634,450$2,722,082$7,545,819
88$9,972,122$3,763,437$2,764,171$8,186,533
89$10,938,630$3,897,198$2,806,123$8,888,699
90$12,002,128$4,035,917$2,847,884$9,658,464
91$13,172,456$4,179,789$2,889,400$10,502,599
92$14,460,460$4,329,012$2,930,608$11,428,560
93$15,878,090$4,483,796$2,971,447$12,444,562
94$17,438,512$4,644,359$3,011,847$13,559,652
95$19,156,233$4,810,926$3,051,737$14,783,794
96$21,047,241$4,983,733$3,091,042$16,127,966
97$23,129,149$5,163,026$3,129,682$17,604,260
98$25,421,368$5,349,059$3,167,571$19,225,996
99$27,945,283$5,542,099$3,204,621$21,007,849
100$30,724,462$5,742,422$3,240,736$22,965,985