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%18.2%
1 years$164,332$162,869$161,440$160,046$158,685$153,422
2 years$81,353$79,838$78,369$76,945$75,564$70,312
3 years$53,696$52,175$50,710$49,300$47,941$42,866
4 years$39,871$38,354$36,904$35,518$34,192$29,332
5 years$31,578$30,070$28,639$27,281$25,992$21,361
6 years$26,051$24,554$23,145$21,817$20,567$16,167
7 years$22,105$20,621$19,233$17,937$16,726$12,558
8 years$19,146$17,676$16,311$15,047$13,876$9,936
9 years$16,847$15,390$14,049$12,816$11,686$7,970
10 years$15,008$13,565$12,248$11,048$9,957$6,459
11 years$13,504$12,077$10,783$9,615$8,563$5,276
12 years$12,253$10,839$9,570$8,434$7,421$4,338
13 years$11,194$9,796$8,550$7,446$6,471$3,584
14 years$10,288$8,904$7,682$6,609$5,672$2,973
15 years$9,503$8,134$6,936$5,894$4,994$2,475
16 years$8,816$7,463$6,288$5,278$4,414$2,066
17 years$8,212$6,873$5,722$4,742$3,914$1,728
18 years$7,675$6,351$5,224$4,274$3,480$1,448
19 years$7,195$5,886$4,782$3,862$3,102$1,215
20 years$6,763$5,469$4,389$3,497$2,771$1,021
21 years$6,374$5,095$4,037$3,174$2,479$859
22 years$6,020$4,756$3,720$2,886$2,222$724
23 years$5,697$4,448$3,435$2,628$1,995$610
24 years$5,402$4,167$3,177$2,397$1,793$514
25 years$5,131$3,911$2,943$2,189$1,614$434
26 years$4,881$3,676$2,729$2,002$1,453$366
27 years$4,649$3,459$2,534$1,832$1,310$309
28 years$4,435$3,259$2,356$1,679$1,182$261
29 years$4,236$3,075$2,192$1,539$1,068$221
30 years$4,051$2,904$2,042$1,413$965$186
31 years$3,878$2,745$1,904$1,298$872$157
32 years$3,716$2,598$1,776$1,192$789$133
33 years$3,564$2,460$1,658$1,097$714$113
34 years$3,421$2,331$1,550$1,009$646$95
35 years$3,287$2,211$1,449$929$586$80
36 years$3,161$2,099$1,355$855$530$68
37 years$3,041$1,993$1,269$788$481$58
38 years$2,928$1,894$1,188$726$436$49
39 years$2,822$1,801$1,113$670$395$41
40 years$2,721$1,714$1,043$618$359$35
41 years$2,625$1,632$978$570$325$29
42 years$2,534$1,554$918$526$295$25
43 years$2,447$1,480$861$486$268$21
44 years$2,364$1,411$808$448$243$18
45 years$2,286$1,346$759$414$221$15
46 years$2,211$1,284$713$382$200$13
47 years$2,139$1,225$670$353$182$11
48 years$2,071$1,170$629$327$165$9
49 years$2,006$1,117$591$302$150$8
50 years$1,943$1,067$556$279$136$7

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 $4,406 every year, while hoping to spend $36,116 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: 77/18/5 Blend
70$1,990,000$1,990,000$1,990,000$1,990,000
71$2,197,525$2,092,055$2,061,210$2,365,818
72$2,383,245$2,156,138$2,091,833$2,540,918
73$2,586,699$2,222,152$2,122,272$2,727,701
74$2,809,656$2,290,151$2,152,482$2,931,401
75$3,054,066$2,360,194$2,182,416$3,153,681
76$3,322,079$2,432,341$2,212,024$3,396,371
77$3,616,058$2,506,653$2,241,254$3,661,488
78$3,938,609$2,583,192$2,270,050$3,951,252
79$4,292,603$2,662,024$2,298,352$4,268,107
80$4,681,200$2,743,215$2,326,098$4,614,745
81$5,107,883$2,826,833$2,353,223$4,994,131
82$5,576,487$2,912,948$2,379,656$5,409,529
83$6,091,238$3,001,632$2,405,324$5,864,535
84$6,656,791$3,092,959$2,430,149$6,363,108
85$7,278,275$3,187,004$2,454,050$6,909,611
86$7,961,338$3,283,847$2,476,940$7,508,847
87$8,712,205$3,383,566$2,498,728$8,166,109
88$9,537,733$3,486,244$2,519,318$8,887,226
89$10,445,476$3,591,964$2,538,610$9,678,619
90$11,443,759$3,700,815$2,556,498$10,547,361
91$12,541,751$3,812,883$2,572,869$11,501,247
92$13,749,556$3,928,261$2,587,607$12,548,859
93$15,078,307$4,047,042$2,600,588$13,699,657
94$16,540,268$4,169,321$2,611,682$14,964,058
95$18,148,955$4,295,197$2,620,752$16,353,543
96$19,919,258$4,424,771$2,627,657$17,880,758
97$21,867,583$4,558,146$2,632,244$19,559,638
98$24,012,009$4,695,428$2,634,357$21,405,534
99$26,372,456$4,836,725$2,633,830$23,435,362
100$28,970,871$4,982,150$2,630,488$25,667,757