Can I retire at age 71 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$89,185$88,391$87,616$86,859$86,121$85,614
2 years$44,151$43,329$42,532$41,759$41,010$40,499
3 years$29,142$28,316$27,521$26,756$26,018$25,518
4 years$21,638$20,815$20,028$19,276$18,557$18,072
5 years$17,138$16,319$15,543$14,806$14,106$13,638
6 years$14,138$13,326$12,561$11,840$11,162$10,711
7 years$11,997$11,191$10,438$9,735$9,078$8,644
8 years$10,391$9,593$8,852$8,166$7,531$7,115
9 years$9,143$8,352$7,625$6,956$6,342$5,943
10 years$8,145$7,362$6,647$5,996$5,404$5,022
11 years$7,329$6,554$5,852$5,218$4,647$4,283
12 years$6,650$5,883$5,194$4,577$4,027$3,679
13 years$6,075$5,316$4,640$4,041$3,512$3,180
14 years$5,583$4,832$4,169$3,587$3,078$2,762
15 years$5,157$4,414$3,764$3,199$2,711$2,410
16 years$4,785$4,050$3,413$2,864$2,396$2,110
17 years$4,457$3,730$3,106$2,574$2,124$1,853
18 years$4,165$3,447$2,835$2,319$1,889$1,632
19 years$3,905$3,194$2,595$2,096$1,683$1,440
20 years$3,671$2,968$2,382$1,898$1,504$1,274
21 years$3,459$2,765$2,191$1,723$1,346$1,128
22 years$3,267$2,581$2,019$1,566$1,206$1,001
23 years$3,092$2,414$1,864$1,426$1,083$889
24 years$2,932$2,262$1,724$1,301$973$791
25 years$2,784$2,122$1,597$1,188$876$704
26 years$2,649$1,995$1,481$1,086$789$627
27 years$2,523$1,877$1,375$994$711$559
28 years$2,407$1,769$1,279$911$642$499
29 years$2,299$1,669$1,190$835$579$446
30 years$2,198$1,576$1,108$767$524$398
31 years$2,104$1,490$1,033$704$473$356
32 years$2,017$1,410$964$647$428$318
33 years$1,934$1,335$900$595$387$285
34 years$1,857$1,265$841$548$351$255
35 years$1,784$1,200$786$504$318$228
36 years$1,715$1,139$736$464$288$204
37 years$1,651$1,082$688$428$261$183
38 years$1,589$1,028$645$394$237$164
39 years$1,531$978$604$364$215$147
40 years$1,477$930$566$335$195$132
41 years$1,424$885$531$309$177$118
42 years$1,375$843$498$285$160$106
43 years$1,328$803$467$264$145$95
44 years$1,283$766$439$243$132$85
45 years$1,241$730$412$225$120$76
46 years$1,200$697$387$208$109$69
47 years$1,161$665$363$192$99$61
48 years$1,124$635$341$177$90$55
49 years$1,088$606$321$164$81$49
50 years$1,054$579$302$151$74$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,080,000, adding $5,112 every year, while hoping to spend $47,137 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: 85/9/6 Blend
70$1,080,000$1,080,000$1,080,000$1,080,000
71$1,195,433$1,138,193$1,121,453$1,296,269
72$1,267,214$1,143,811$1,108,868$1,368,418
73$1,344,736$1,148,125$1,094,282$1,440,683
74$1,428,537$1,151,020$1,077,578$1,518,568
75$1,519,204$1,152,376$1,058,633$1,602,605
76$1,617,385$1,152,065$1,037,319$1,693,382
77$1,723,792$1,149,950$1,013,503$1,791,544
78$1,839,208$1,145,886$987,045$1,897,801
79$1,964,493$1,139,721$957,797$2,012,937
80$2,100,594$1,131,291$925,606$2,137,814
81$2,248,554$1,120,422$890,313$2,273,381
82$2,409,516$1,106,933$851,748$2,420,685
83$2,584,742$1,090,628$809,737$2,580,875
84$2,775,620$1,071,303$764,097$2,755,222
85$2,983,674$1,048,738$714,636$2,945,123
86$3,210,586$1,022,703$661,153$3,152,117
87$3,458,204$992,954$603,440$3,377,900
88$3,728,563$959,231$541,278$3,624,342
89$4,023,905$921,261$474,438$3,893,500
90$4,346,694$878,754$402,683$4,187,644
91$4,699,647$831,403$325,763$4,509,271
92$5,085,753$778,884$243,418$4,861,138
93$5,508,304$720,854$155,378$5,246,277
94$5,970,926$656,950$61,357$5,668,034
95$6,477,609$586,790$0$6,130,092
96$7,032,750$509,967$0$6,639,007
97$7,641,190$426,055$0$7,201,114
98$8,308,260$334,600$0$7,817,431
99$9,039,833$235,126$0$8,493,414
100$9,842,376$127,128$0$9,235,074