Can I retire at age 71 with 1,110,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$91,663$90,846$90,050$89,272$88,513$88,029
2 years$45,378$44,532$43,713$42,919$42,149$41,661
3 years$29,951$29,102$28,285$27,499$26,741$26,263
4 years$22,240$21,393$20,585$19,811$19,072$18,609
5 years$17,614$16,773$15,974$15,217$14,498$14,051
6 years$14,531$13,696$12,910$12,169$11,472$11,041
7 years$12,330$11,502$10,728$10,005$9,330$8,915
8 years$10,680$9,859$9,098$8,393$7,740$7,342
9 years$9,397$8,584$7,836$7,149$6,518$6,137
10 years$8,371$7,567$6,832$6,162$5,554$5,189
11 years$7,533$6,736$6,015$5,363$4,776$4,427
12 years$6,834$6,046$5,338$4,704$4,139$3,806
13 years$6,244$5,464$4,769$4,153$3,609$3,292
14 years$5,738$4,966$4,285$3,687$3,164$2,861
15 years$5,300$4,537$3,869$3,288$2,786$2,498
16 years$4,918$4,163$3,508$2,944$2,462$2,188
17 years$4,580$3,834$3,192$2,645$2,183$1,923
18 years$4,281$3,542$2,914$2,384$1,941$1,695
19 years$4,013$3,283$2,667$2,154$1,730$1,497
20 years$3,773$3,051$2,448$1,951$1,545$1,325
21 years$3,555$2,842$2,252$1,770$1,383$1,174
22 years$3,358$2,653$2,075$1,610$1,240$1,043
23 years$3,178$2,481$1,916$1,466$1,113$927
24 years$3,013$2,324$1,772$1,337$1,000$825
25 years$2,862$2,181$1,641$1,221$900$735
26 years$2,722$2,050$1,522$1,117$811$655
27 years$2,593$1,929$1,414$1,022$731$585
28 years$2,474$1,818$1,314$936$660$522
29 years$2,363$1,715$1,223$859$596$467
30 years$2,259$1,620$1,139$788$538$418
31 years$2,163$1,531$1,062$724$486$374
32 years$2,073$1,449$991$665$440$334
33 years$1,988$1,372$925$612$398$299
34 years$1,908$1,300$864$563$361$268
35 years$1,833$1,233$808$518$327$240
36 years$1,763$1,171$756$477$296$215
37 years$1,696$1,112$708$440$268$193
38 years$1,633$1,057$663$405$243$173
39 years$1,574$1,005$621$374$220$155
40 years$1,518$956$582$345$200$139
41 years$1,464$910$546$318$181$125
42 years$1,413$867$512$293$165$112
43 years$1,365$826$480$271$149$101
44 years$1,319$787$451$250$136$90
45 years$1,275$751$423$231$123$81
46 years$1,233$716$398$213$112$73
47 years$1,193$683$373$197$102$65
48 years$1,155$652$351$182$92$59
49 years$1,119$623$330$168$84$53
50 years$1,084$595$310$156$76$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,110,000, adding $5,357 every year, while hoping to spend $36,723 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: 50/42/8 Blend
70$1,110,000$1,110,000$1,110,000$1,110,000
71$1,228,746$1,169,916$1,152,711$1,287,376
72$1,315,005$1,188,169$1,152,254$1,346,221
73$1,408,832$1,206,085$1,150,550$1,405,764
74$1,510,959$1,223,610$1,147,520$1,469,601
75$1,622,194$1,240,684$1,143,079$1,538,144
76$1,743,424$1,257,244$1,137,139$1,611,846
77$1,875,626$1,273,222$1,129,606$1,691,210
78$2,019,876$1,288,545$1,120,383$1,776,787
79$2,177,356$1,303,137$1,109,369$1,869,187
80$2,349,370$1,316,914$1,096,457$1,969,083
81$2,537,353$1,329,790$1,081,535$2,077,217
82$2,742,882$1,341,669$1,064,486$2,194,409
83$2,967,697$1,352,452$1,045,187$2,321,562
84$3,213,712$1,362,032$1,023,511$2,459,673
85$3,483,035$1,370,295$999,322$2,609,843
86$3,777,986$1,377,122$972,482$2,773,287
87$4,101,123$1,382,383$942,842$2,951,344
88$4,455,260$1,385,942$910,250$3,145,492
89$4,843,497$1,387,654$874,544$3,357,363
90$5,269,249$1,387,365$835,556$3,588,756
91$5,736,277$1,384,910$793,112$3,841,657
92$6,248,723$1,380,116$747,027$4,118,257
93$6,811,150$1,372,799$697,109$4,420,974
94$7,428,584$1,362,762$643,159$4,752,472
95$8,106,560$1,349,799$584,966$5,115,696
96$8,851,179$1,333,689$522,312$5,513,889
97$9,669,158$1,314,198$454,968$5,950,633
98$10,567,898$1,291,080$382,696$6,429,876
99$11,555,554$1,264,073$305,246$6,955,976
100$12,641,106$1,232,898$222,357$7,533,739