Can I retire at age 71 with 1,680,000?

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 $1,680,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$138,733$137,497$136,291$135,115$133,966$131,368
2 years$68,680$67,401$66,161$64,959$63,793$61,187
3 years$45,332$44,047$42,810$41,620$40,473$37,939
4 years$33,660$32,379$31,155$29,985$28,866$26,424
5 years$26,659$25,386$24,178$23,031$21,943$19,600
6 years$21,993$20,729$19,539$18,418$17,363$15,121
7 years$18,661$17,408$16,237$15,143$14,121$11,981
8 years$16,164$14,922$13,770$12,703$11,714$9,676
9 years$14,222$12,993$11,860$10,820$9,865$7,927
10 years$12,670$11,452$10,340$9,327$8,406$6,566
11 years$11,401$10,195$9,103$8,117$7,229$5,485
12 years$10,344$9,151$8,079$7,120$6,265$4,614
13 years$9,450$8,270$7,218$6,286$5,463$3,903
14 years$8,685$7,517$6,485$5,580$4,789$3,317
15 years$8,022$6,867$5,855$4,976$4,216$2,830
16 years$7,443$6,300$5,309$4,456$3,726$2,422
17 years$6,932$5,802$4,831$4,003$3,304$2,078
18 years$6,479$5,361$4,410$3,608$2,938$1,787
19 years$6,074$4,969$4,037$3,260$2,619$1,540
20 years$5,710$4,617$3,705$2,953$2,339$1,329
21 years$5,381$4,301$3,408$2,680$2,093$1,148
22 years$5,082$4,015$3,141$2,436$1,876$994
23 years$4,810$3,755$2,900$2,219$1,684$861
24 years$4,560$3,518$2,682$2,024$1,514$746
25 years$4,331$3,302$2,484$1,848$1,362$647
26 years$4,120$3,103$2,304$1,690$1,227$562
27 years$3,925$2,920$2,139$1,547$1,106$488
28 years$3,744$2,752$1,989$1,417$998$424
29 years$3,576$2,596$1,851$1,300$901$369
30 years$3,420$2,452$1,724$1,193$814$321
31 years$3,274$2,318$1,607$1,095$736$279
32 years$3,137$2,193$1,500$1,007$666$243
33 years$3,009$2,077$1,400$926$603$211
34 years$2,888$1,968$1,308$852$546$184
35 years$2,775$1,867$1,223$784$494$160
36 years$2,668$1,772$1,144$722$448$140
37 years$2,567$1,683$1,071$665$406$122
38 years$2,472$1,599$1,003$613$368$106
39 years$2,382$1,521$940$565$334$92
40 years$2,297$1,447$881$522$303$80
41 years$2,216$1,377$826$481$275$70
42 years$2,139$1,312$775$444$249$61
43 years$2,066$1,250$727$410$226$53
44 years$1,996$1,191$682$379$205$46
45 years$1,930$1,136$641$350$186$40
46 years$1,866$1,084$602$323$169$35
47 years$1,806$1,034$565$298$154$31
48 years$1,748$987$531$276$140$27
49 years$1,693$943$499$255$127$23
50 years$1,640$901$469$235$115$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,680,000, adding $4,685 every year, while hoping to spend $45,828 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: 24/50/26 Blend
70$1,680,000$1,680,000$1,680,000$1,680,000
71$1,856,193$1,767,153$1,741,113$1,885,373
72$1,996,764$1,804,982$1,750,679$1,948,055
73$2,150,137$1,843,130$1,759,030$2,010,961
74$2,317,570$1,881,562$1,766,077$2,077,386
75$2,500,447$1,920,244$1,771,725$2,147,654
76$2,700,291$1,959,135$1,775,877$2,222,120
77$2,918,781$1,998,193$1,778,429$2,301,178
78$3,157,764$2,037,371$1,779,273$2,385,263
79$3,419,272$2,076,618$1,778,296$2,474,856
80$3,705,546$2,115,881$1,775,377$2,570,489
81$4,019,052$2,155,099$1,770,391$2,672,749
82$4,362,504$2,194,208$1,763,209$2,782,285
83$4,738,894$2,233,139$1,753,691$2,899,815
84$5,151,516$2,271,817$1,741,694$3,026,133
85$5,603,996$2,310,162$1,727,066$3,162,115
86$6,100,331$2,348,087$1,709,650$3,308,730
87$6,644,921$2,385,499$1,689,280$3,467,048
88$7,242,613$2,422,299$1,665,781$3,638,254
89$7,898,747$2,458,379$1,638,972$3,823,654
90$8,619,204$2,493,624$1,608,662$4,024,693
91$9,410,463$2,527,913$1,574,653$4,242,966
92$10,279,663$2,561,112$1,536,736$4,480,236
93$11,234,664$2,593,083$1,494,693$4,738,450
94$12,284,130$2,623,674$1,448,295$5,019,760
95$13,437,602$2,652,725$1,397,304$5,326,542
96$14,705,595$2,680,065$1,341,470$5,661,418
97$16,099,688$2,705,512$1,280,533$6,027,287
98$17,632,645$2,728,870$1,214,219$6,427,347
99$19,318,523$2,749,933$1,142,244$6,865,134
100$21,172,812$2,768,479$1,064,308$7,344,546