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%12.2%
1 years$161,855$160,413$159,007$157,634$156,293$154,854
2 years$80,126$78,634$77,188$75,785$74,425$72,976
3 years$52,887$51,388$49,946$48,556$47,218$45,803
4 years$39,270$37,776$36,348$34,982$33,677$32,306
5 years$31,102$29,617$28,207$26,870$25,600$24,279
6 years$25,658$24,184$22,796$21,488$20,257$18,986
7 years$21,771$20,310$18,943$17,666$16,474$15,255
8 years$18,858$17,409$16,065$14,820$13,667$12,499
9 years$16,593$15,158$13,837$12,623$11,510$10,392
10 years$14,782$13,361$12,064$10,881$9,807$8,739
11 years$13,301$11,894$10,621$9,470$8,434$7,416
12 years$12,068$10,676$9,425$8,307$7,309$6,339
13 years$11,025$9,648$8,421$7,333$6,373$5,451
14 years$10,132$8,770$7,566$6,510$5,587$4,710
15 years$9,359$8,011$6,831$5,806$4,919$4,087
16 years$8,684$7,350$6,194$5,198$4,348$3,559
17 years$8,088$6,769$5,636$4,671$3,855$3,109
18 years$7,559$6,255$5,145$4,209$3,428$2,722
19 years$7,086$5,797$4,710$3,803$3,055$2,388
20 years$6,661$5,387$4,323$3,445$2,729$2,100
21 years$6,278$5,018$3,976$3,126$2,442$1,849
22 years$5,929$4,684$3,664$2,842$2,189$1,631
23 years$5,611$4,381$3,383$2,589$1,965$1,440
24 years$5,320$4,104$3,129$2,361$1,766$1,273
25 years$5,053$3,852$2,898$2,156$1,589$1,126
26 years$4,807$3,620$2,688$1,972$1,431$997
27 years$4,579$3,407$2,496$1,805$1,291$884
28 years$4,368$3,210$2,320$1,653$1,165$784
29 years$4,172$3,029$2,159$1,516$1,052$695
30 years$3,990$2,860$2,011$1,392$950$617
31 years$3,819$2,704$1,875$1,278$859$548
32 years$3,660$2,558$1,749$1,174$777$487
33 years$3,510$2,423$1,633$1,080$703$433
34 years$3,370$2,296$1,526$994$637$385
35 years$3,237$2,178$1,427$915$577$342
36 years$3,113$2,067$1,335$843$522$304
37 years$2,995$1,963$1,249$776$474$271
38 years$2,884$1,866$1,170$715$429$241
39 years$2,779$1,774$1,096$660$389$215
40 years$2,680$1,688$1,027$608$353$191
41 years$2,585$1,607$963$561$320$170
42 years$2,495$1,530$904$518$291$151
43 years$2,410$1,458$848$478$264$135
44 years$2,329$1,390$796$442$239$120
45 years$2,251$1,325$747$408$217$107
46 years$2,178$1,264$702$377$197$95
47 years$2,107$1,207$660$348$179$85
48 years$2,040$1,152$620$322$163$76
49 years$1,975$1,100$583$297$148$67
50 years$1,914$1,051$548$275$134$60

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 $5,715 every year, while hoping to spend $33,185 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: 77/7/16 Blend
70$1,960,000$1,960,000$1,960,000$1,960,000
71$2,165,815$2,061,935$2,031,555$2,324,612
72$2,351,420$2,127,661$2,064,304$2,495,944
73$2,554,844$2,195,496$2,097,037$2,679,049
74$2,777,870$2,265,507$2,129,720$2,878,941
75$3,022,461$2,337,765$2,162,314$3,097,285
76$3,290,780$2,412,344$2,194,779$3,335,916
77$3,585,208$2,489,317$2,227,073$3,596,852
78$3,908,369$2,568,764$2,259,150$3,882,319
79$4,263,153$2,650,764$2,290,962$4,194,766
80$4,652,743$2,735,400$2,322,457$4,536,892
81$5,080,646$2,822,757$2,353,583$4,911,671
82$5,550,724$2,912,925$2,384,280$5,322,377
83$6,067,234$3,005,994$2,414,490$5,772,618
84$6,634,864$3,102,059$2,444,147$6,266,369
85$7,258,778$3,201,218$2,473,183$6,808,009
86$7,944,666$3,303,571$2,501,528$7,402,361
87$8,698,799$3,409,223$2,529,106$8,054,741
88$9,528,081$3,518,280$2,555,836$8,771,003
89$10,440,124$3,630,854$2,581,635$9,557,600
90$11,443,311$3,747,060$2,606,414$10,421,639
91$12,546,879$3,867,016$2,630,079$11,370,952
92$13,761,006$3,990,846$2,652,533$12,414,168
93$15,096,906$4,118,674$2,673,670$13,560,795
94$16,566,935$4,250,633$2,693,382$14,821,309
95$18,184,705$4,386,858$2,711,554$16,207,252
96$19,965,219$4,527,488$2,728,064$17,731,344
97$21,925,004$4,672,667$2,742,787$19,407,600
98$24,082,272$4,822,545$2,755,588$21,251,461
99$26,457,090$4,977,277$2,766,327$23,279,944
100$29,071,570$5,137,020$2,774,855$25,511,800