Can I retire at age 71 with 1,160,000?

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 $1,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$95,792$94,938$94,106$93,293$92,500$91,572
2 years$47,422$46,538$45,683$44,853$44,048$43,113
3 years$31,300$30,413$29,560$28,738$27,946$27,033
4 years$23,241$22,357$21,512$20,704$19,931$19,048
5 years$18,407$17,528$16,694$15,902$15,151$14,300
6 years$15,185$14,313$13,491$12,717$11,989$11,171
7 years$12,885$12,020$11,211$10,456$9,750$8,965
8 years$11,161$10,303$9,508$8,771$8,089$7,337
9 years$9,820$8,971$8,189$7,471$6,812$6,093
10 years$8,748$7,908$7,140$6,440$5,804$5,118
11 years$7,872$7,040$6,286$5,605$4,992$4,338
12 years$7,142$6,318$5,578$4,916$4,326$3,703
13 years$6,525$5,710$4,984$4,340$3,772$3,180
14 years$5,997$5,190$4,478$3,853$3,307$2,745
15 years$5,539$4,741$4,043$3,436$2,911$2,378
16 years$5,139$4,350$3,666$3,077$2,573$2,068
17 years$4,787$4,006$3,336$2,764$2,281$1,804
18 years$4,474$3,702$3,045$2,491$2,029$1,577
19 years$4,194$3,431$2,788$2,251$1,808$1,382
20 years$3,942$3,188$2,558$2,039$1,615$1,213
21 years$3,715$2,970$2,353$1,850$1,445$1,067
22 years$3,509$2,772$2,169$1,682$1,295$939
23 years$3,321$2,593$2,002$1,532$1,163$828
24 years$3,149$2,429$1,852$1,397$1,045$731
25 years$2,991$2,280$1,715$1,276$941$646
26 years$2,845$2,143$1,591$1,167$847$571
27 years$2,710$2,016$1,477$1,068$764$505
28 years$2,585$1,900$1,373$979$689$447
29 years$2,469$1,792$1,278$897$622$396
30 years$2,361$1,693$1,190$824$562$351
31 years$2,260$1,600$1,110$756$508$311
32 years$2,166$1,514$1,035$695$460$276
33 years$2,077$1,434$967$639$416$245
34 years$1,994$1,359$903$588$377$217
35 years$1,916$1,289$844$541$341$193
36 years$1,842$1,223$790$499$309$171
37 years$1,773$1,162$739$459$280$152
38 years$1,707$1,104$692$423$254$135
39 years$1,645$1,050$649$390$230$120
40 years$1,586$999$608$360$209$107
41 years$1,530$951$570$332$190$95
42 years$1,477$906$535$307$172$84
43 years$1,426$863$502$283$156$75
44 years$1,378$823$471$261$142$67
45 years$1,332$784$442$241$129$59
46 years$1,289$748$415$223$117$53
47 years$1,247$714$390$206$106$47
48 years$1,207$682$367$190$96$42
49 years$1,169$651$345$176$87$37
50 years$1,133$622$324$163$79$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,160,000, adding $2,539 every year, while hoping to spend $26,182 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: 73/20/7 Blend
70$1,160,000$1,160,000$1,160,000$1,160,000
71$1,280,939$1,219,459$1,201,479$1,373,001
72$1,383,737$1,251,355$1,213,871$1,465,926
73$1,496,144$1,283,936$1,225,801$1,564,127
74$1,619,110$1,317,209$1,237,225$1,670,934
75$1,753,686$1,351,179$1,248,098$1,787,189
76$1,901,025$1,385,850$1,258,373$1,913,818
77$2,062,399$1,421,226$1,267,998$2,051,841
78$2,239,209$1,457,311$1,276,921$2,202,383
79$2,432,996$1,494,107$1,285,086$2,366,679
80$2,645,459$1,531,617$1,292,434$2,546,093
81$2,878,469$1,569,839$1,298,904$2,742,124
82$3,134,086$1,608,774$1,304,430$2,956,427
83$3,414,580$1,648,421$1,308,945$3,190,821
84$3,722,449$1,688,775$1,312,377$3,447,311
85$4,060,448$1,729,835$1,314,651$3,728,106
86$4,431,610$1,771,592$1,315,687$4,035,640
87$4,839,275$1,814,041$1,315,404$4,372,594
88$5,287,125$1,857,173$1,313,714$4,741,919
89$5,779,214$1,900,977$1,310,526$5,146,869
90$6,320,010$1,945,441$1,305,745$5,591,029
91$6,914,433$1,990,550$1,299,269$6,078,347
92$7,567,906$2,036,288$1,290,995$6,613,174
93$8,286,401$2,082,634$1,280,812$7,200,303
94$9,076,500$2,129,569$1,268,605$7,845,015
95$9,945,452$2,177,068$1,254,253$8,553,130
96$10,901,247$2,225,103$1,237,629$9,331,059
97$11,952,686$2,273,644$1,218,602$10,185,867
98$13,109,466$2,322,659$1,197,031$11,125,338
99$14,382,272$2,372,110$1,172,772$12,158,050
100$15,782,878$2,421,957$1,145,674$13,293,454