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%12.8%
1 years$89,185$88,391$87,616$86,859$86,121$85,115
2 years$44,151$43,329$42,532$41,759$41,010$39,998
3 years$29,142$28,316$27,521$26,756$26,018$25,031
4 years$21,638$20,815$20,028$19,276$18,557$17,602
5 years$17,138$16,319$15,543$14,806$14,106$13,187
6 years$14,138$13,326$12,561$11,840$11,162$10,279
7 years$11,997$11,191$10,438$9,735$9,078$8,231
8 years$10,391$9,593$8,852$8,166$7,531$6,721
9 years$9,143$8,352$7,625$6,956$6,342$5,568
10 years$8,145$7,362$6,647$5,996$5,404$4,666
11 years$7,329$6,554$5,852$5,218$4,647$3,945
12 years$6,650$5,883$5,194$4,577$4,027$3,359
13 years$6,075$5,316$4,640$4,041$3,512$2,877
14 years$5,583$4,832$4,169$3,587$3,078$2,477
15 years$5,157$4,414$3,764$3,199$2,711$2,140
16 years$4,785$4,050$3,413$2,864$2,396$1,856
17 years$4,457$3,730$3,106$2,574$2,124$1,614
18 years$4,165$3,447$2,835$2,319$1,889$1,407
19 years$3,905$3,194$2,595$2,096$1,683$1,230
20 years$3,671$2,968$2,382$1,898$1,504$1,076
21 years$3,459$2,765$2,191$1,723$1,346$944
22 years$3,267$2,581$2,019$1,566$1,206$828
23 years$3,092$2,414$1,864$1,426$1,083$728
24 years$2,932$2,262$1,724$1,301$973$641
25 years$2,784$2,122$1,597$1,188$876$564
26 years$2,649$1,995$1,481$1,086$789$497
27 years$2,523$1,877$1,375$994$711$439
28 years$2,407$1,769$1,279$911$642$387
29 years$2,299$1,669$1,190$835$579$342
30 years$2,198$1,576$1,108$767$524$302
31 years$2,104$1,490$1,033$704$473$267
32 years$2,017$1,410$964$647$428$236
33 years$1,934$1,335$900$595$387$209
34 years$1,857$1,265$841$548$351$185
35 years$1,784$1,200$786$504$318$163
36 years$1,715$1,139$736$464$288$144
37 years$1,651$1,082$688$428$261$128
38 years$1,589$1,028$645$394$237$113
39 years$1,531$978$604$364$215$100
40 years$1,477$930$566$335$195$89
41 years$1,424$885$531$309$177$79
42 years$1,375$843$498$285$160$70
43 years$1,328$803$467$264$145$62
44 years$1,283$766$439$243$132$55
45 years$1,241$730$412$225$120$48
46 years$1,200$697$387$208$109$43
47 years$1,161$665$363$192$99$38
48 years$1,124$635$341$177$90$34
49 years$1,088$606$321$164$81$30
50 years$1,054$579$302$151$74$26

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 $3,115 every year, while hoping to spend $50,692 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: 55/40/5 Blend
70$1,080,000$1,080,000$1,080,000$1,080,000
71$1,193,373$1,136,133$1,119,393$1,257,621
72$1,261,161$1,137,868$1,102,957$1,303,008
73$1,334,165$1,137,988$1,084,271$1,346,472
74$1,412,862$1,136,362$1,063,207$1,392,535
75$1,497,779$1,132,849$1,039,629$1,441,451
76$1,589,493$1,127,299$1,013,397$1,493,498
77$1,688,638$1,119,554$984,363$1,548,988
78$1,795,912$1,109,445$952,372$1,608,266
79$1,912,082$1,096,794$917,263$1,671,712
80$2,037,989$1,081,412$878,867$1,739,750
81$2,174,563$1,063,100$837,007$1,812,848
82$2,322,820$1,041,644$791,499$1,891,526
83$2,483,883$1,016,820$742,149$1,976,360
84$2,658,985$988,389$688,757$2,067,985
85$2,849,482$956,101$631,111$2,167,109
86$3,056,867$919,688$568,991$2,274,513
87$3,282,782$878,868$502,167$2,391,062
88$3,529,036$833,342$430,400$2,517,715
89$3,797,617$782,795$353,437$2,655,531
90$4,090,715$726,893$271,018$2,805,685
91$4,410,739$665,282$182,869$2,969,474
92$4,760,343$597,590$88,704$3,148,337
93$5,142,448$523,421$0$3,343,861
94$5,560,269$442,360$0$3,558,436
95$6,017,346$353,965$0$3,798,466
96$6,517,578$257,772$0$4,061,383
97$7,065,257$153,289$0$4,349,582
98$7,665,110$39,997$0$4,665,710
99$8,322,343$0$0$5,012,694
100$9,042,688$0$0$5,430,144