Can I retire at age 71 with 1,130,000?

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 $1,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$93,314$92,483$91,672$90,881$90,108$86,533
2 years$46,195$45,335$44,501$43,693$42,908$39,351
3 years$30,491$29,627$28,795$27,994$27,223$23,795
4 years$22,640$21,779$20,955$20,168$19,416$16,143
5 years$17,931$17,075$16,262$15,491$14,759$11,651
6 years$14,793$13,943$13,142$12,388$11,679$8,736
7 years$12,552$11,709$10,921$10,185$9,498$6,720
8 years$10,872$10,037$9,262$8,544$7,879$5,264
9 years$9,566$8,739$7,978$7,278$6,636$4,178
10 years$8,522$7,703$6,955$6,273$5,654$3,350
11 years$7,668$6,858$6,123$5,460$4,862$2,707
12 years$6,957$6,155$5,434$4,789$4,214$2,200
13 years$6,356$5,562$4,855$4,228$3,674$1,797
14 years$5,842$5,056$4,362$3,753$3,221$1,473
15 years$5,396$4,619$3,938$3,347$2,836$1,211
16 years$5,006$4,238$3,571$2,997$2,506$999
17 years$4,663$3,903$3,249$2,693$2,222$825
18 years$4,358$3,606$2,966$2,427$1,976$683
19 years$4,085$3,342$2,715$2,193$1,761$566
20 years$3,841$3,106$2,492$1,986$1,573$469
21 years$3,619$2,893$2,292$1,802$1,408$390
22 years$3,418$2,700$2,113$1,639$1,262$324
23 years$3,235$2,526$1,951$1,492$1,133$269
24 years$3,067$2,366$1,804$1,361$1,018$224
25 years$2,913$2,221$1,671$1,243$916$186
26 years$2,771$2,087$1,550$1,137$825$155
27 years$2,640$1,964$1,439$1,040$744$129
28 years$2,519$1,851$1,338$953$671$108
29 years$2,405$1,746$1,245$874$606$90
30 years$2,300$1,649$1,160$802$548$75
31 years$2,202$1,559$1,081$737$495$62
32 years$2,110$1,475$1,009$677$448$52
33 years$2,024$1,397$942$623$405$43
34 years$1,943$1,324$880$573$367$36
35 years$1,866$1,256$823$527$332$30
36 years$1,795$1,192$770$486$301$25
37 years$1,727$1,132$720$448$273$21
38 years$1,663$1,076$675$413$248$17
39 years$1,602$1,023$632$380$224$15
40 years$1,545$973$592$351$204$12
41 years$1,490$926$555$324$185$10
42 years$1,439$882$521$299$168$8
43 years$1,389$841$489$276$152$7
44 years$1,343$801$459$255$138$6
45 years$1,298$764$431$235$125$5
46 years$1,255$729$405$217$114$4
47 years$1,215$696$380$201$103$3
48 years$1,176$664$357$185$94$3
49 years$1,139$634$336$171$85$2
50 years$1,103$606$316$158$77$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,130,000, adding $3,244 every year, while hoping to spend $26,294 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: 71/16/13 Blend
70$1,130,000$1,130,000$1,130,000$1,130,000
71$1,248,606$1,188,716$1,171,201$1,333,522
72$1,347,987$1,218,987$1,182,460$1,420,524
73$1,456,624$1,249,859$1,193,214$1,512,224
74$1,575,433$1,281,335$1,203,420$1,611,914
75$1,705,423$1,313,416$1,213,030$1,720,375
76$1,847,704$1,346,102$1,221,995$1,838,471
77$2,003,500$1,379,391$1,230,262$1,967,152
78$2,174,159$1,413,283$1,237,778$2,107,464
79$2,361,163$1,447,774$1,244,483$2,260,559
80$2,566,147$1,482,860$1,250,318$2,427,708
81$2,790,909$1,518,536$1,255,220$2,610,309
82$3,037,433$1,554,795$1,259,120$2,809,902
83$3,307,900$1,591,628$1,261,950$3,028,185
84$3,604,715$1,629,028$1,263,634$3,267,027
85$3,930,527$1,666,981$1,264,097$3,528,489
86$4,288,252$1,705,475$1,263,256$3,814,840
87$4,681,106$1,744,494$1,261,026$4,128,581
88$5,112,626$1,784,023$1,257,319$4,472,467
89$5,586,715$1,824,041$1,252,040$4,849,533
90$6,107,668$1,864,526$1,245,091$5,263,125
91$6,680,217$1,905,455$1,236,369$5,716,927
92$7,309,578$1,946,802$1,225,766$6,215,001
93$8,001,495$1,988,535$1,213,169$6,761,822
94$8,762,298$2,030,623$1,198,461$7,362,320
95$9,598,959$2,073,030$1,181,515$8,021,928
96$10,519,160$2,115,717$1,162,204$8,746,634
97$11,531,368$2,158,640$1,140,391$9,543,036
98$12,644,906$2,201,752$1,115,933$10,418,403
99$13,870,052$2,245,004$1,088,682$11,380,747
100$15,218,127$2,288,338$1,058,483$12,438,896