Can I retire at age 71 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$88,360$87,573$86,805$86,055$85,323$83,979
2 years$43,742$42,928$42,138$41,373$40,630$39,279
3 years$28,872$28,054$27,266$26,508$25,777$24,462
4 years$21,438$20,622$19,843$19,097$18,385$17,115
5 years$16,979$16,168$15,399$14,669$13,976$12,755
6 years$14,007$13,203$12,445$11,731$11,059$9,889
7 years$11,885$11,088$10,341$9,644$8,994$7,875
8 years$10,295$9,504$8,770$8,090$7,461$6,393
9 years$9,058$8,275$7,554$6,891$6,283$5,265
10 years$8,070$7,294$6,586$5,940$5,354$4,385
11 years$7,261$6,493$5,798$5,170$4,604$3,684
12 years$6,588$5,828$5,146$4,535$3,990$3,117
13 years$6,019$5,267$4,597$4,003$3,479$2,653
14 years$5,531$4,788$4,131$3,554$3,050$2,268
15 years$5,109$4,373$3,729$3,169$2,685$1,947
16 years$4,741$4,013$3,381$2,838$2,373$1,677
17 years$4,415$3,695$3,077$2,550$2,104$1,448
18 years$4,127$3,415$2,809$2,298$1,871$1,253
19 years$3,869$3,165$2,571$2,076$1,668$1,087
20 years$3,637$2,941$2,360$1,880$1,490$945
21 years$3,427$2,739$2,171$1,707$1,333$822
22 years$3,237$2,557$2,000$1,552$1,195$716
23 years$3,063$2,392$1,847$1,413$1,073$625
24 years$2,904$2,241$1,708$1,289$964$545
25 years$2,759$2,103$1,582$1,177$868$476
26 years$2,624$1,976$1,467$1,076$781$417
27 years$2,500$1,860$1,363$985$705$364
28 years$2,385$1,753$1,267$903$636$319
29 years$2,278$1,653$1,179$828$574$279
30 years$2,178$1,561$1,098$760$519$245
31 years$2,085$1,476$1,024$698$469$215
32 years$1,998$1,397$955$641$424$188
33 years$1,916$1,323$892$590$384$165
34 years$1,840$1,254$833$543$348$145
35 years$1,767$1,189$779$499$315$127
36 years$1,699$1,129$729$460$285$111
37 years$1,635$1,072$682$424$259$98
38 years$1,575$1,019$639$391$234$86
39 years$1,517$969$598$360$213$75
40 years$1,463$922$561$332$193$66
41 years$1,411$877$526$306$175$58
42 years$1,362$835$493$283$159$51
43 years$1,316$796$463$261$144$45
44 years$1,271$759$435$241$131$39
45 years$1,229$724$408$223$119$35
46 years$1,189$690$383$206$108$30
47 years$1,150$659$360$190$98$27
48 years$1,113$629$338$176$89$23
49 years$1,078$600$318$162$81$21
50 years$1,045$574$299$150$73$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,070,000, adding $3,351 every year, while hoping to spend $50,664 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: 85/5/10 Blend
70$1,070,000$1,070,000$1,070,000$1,070,000
71$1,182,597$1,125,887$1,109,302$1,281,118
72$1,249,315$1,127,149$1,092,557$1,347,255
73$1,321,141$1,126,775$1,073,554$1,412,708
74$1,398,542$1,124,631$1,052,162$1,483,048
75$1,482,031$1,120,576$1,028,247$1,558,734
76$1,572,172$1,114,458$1,001,667$1,640,274
77$1,669,585$1,106,118$972,275$1,728,224
78$1,774,952$1,095,387$939,915$1,823,197
79$1,889,020$1,082,084$904,425$1,925,868
80$2,012,614$1,066,020$865,637$2,036,983
81$2,146,638$1,046,993$823,374$2,157,358
82$2,292,088$1,024,788$777,450$2,287,898
83$2,450,059$999,180$727,671$2,429,595
84$2,621,753$969,929$673,837$2,583,545
85$2,808,497$936,780$615,736$2,750,952
86$3,011,748$899,466$553,147$2,933,147
87$3,233,109$857,703$485,840$3,131,591
88$3,474,345$811,189$413,574$3,347,899
89$3,737,398$759,607$336,099$3,583,846
90$4,024,405$702,621$253,151$3,841,390
91$4,337,720$639,874$164,457$4,122,689
92$4,679,931$570,992$69,730$4,430,119
93$5,053,891$495,578$0$4,766,299
94$5,462,738$413,211$0$5,137,463
95$5,909,928$323,449$0$5,551,601
96$6,399,266$225,823$0$6,004,805
97$6,934,941$119,839$0$6,500,975
98$7,521,569$4,975$0$7,044,405
99$8,164,230$0$0$7,639,824
100$8,868,519$0$0$8,299,010